![]() "You're already hitting that pinnacle of what care about." A high enough credit score shows lenders and credit card issuers that you are less of a risk and more likely to pay back the loan, versus if you had a lower credit score. "If you're above 760, or 780, certainly you're already getting the best you can get," Droske tells Select. Anything higher, though, won't be more beneficial, nor would it get you a better offer with more favorable terms. Third parties use many different types of credit scores and are likely to use a different type of credit score to assess your creditworthiness. But he says aiming for 780 is even better to be "the safest" in any type of lending situation. What You Need to Know: The credit score provided is a VantageScore 3.0 credit score based on Equifax data. That way, they're safe for all loan types and cards."įor Jim Droske, president of the credit counseling company Illinois Credit Services (and someone who actually has a perfect credit score of 850), the threshold is 760 as well. "As such, I always tell people, shoot for 760 or better. "The best published interest rates for auto loans are 720+ and for mortgages 760+," financial expert John Ulzheimer, formerly of FICO and Equifax, tells Select. However, it comes with no additional benefits that you likely won't already get with a 760 score. It might be exciting for some to aim to achieve the highest credit score of 850. This information is intended for and only provided to Primary account holders who have an available score. Due to financial hardship resulting from the COVID-19 pandemic, you can get a free credit report each week through December 2023. These agencies include Equifax, Experian, and TransUnion. Investing +More All Investing Best IRA Accounts Best Roth IRA Accounts Best Investing Apps Best Free Stock Trading Platforms Best Robo-Advisors Index Funds Mutual Funds ETFs Bonds FICO Credit Score Terms: Your FICO Credit Score, key factors and other credit information are based on data from TransUnion and may be different from other credit scores and other credit information provided by different bureaus. By law, you can get a free credit report each year from the three credit reporting agencies (CRAs). The score is used by roughly 90 of financial. Help for Low Credit Scores +More All Help for Low Credit Scores Best Credit Cards for Bad Credit Best Personal Loans for Bad Credit Best Debt Consolidation Loans for Bad Credit Personal Loans if You Don't Have Credit Best Credit Cards for Building Credit Personal Loans for 580 Credit Score Lower Personal Loans for 670 Credit Score or Lower Best Mortgages for Bad Credit Best Hardship Loans How to Boost Your Credit Score Your FICO score is drawn from information in your credit reports from the three main reporting agencies: Experian, Equifax, and TransUnion. ![]() ![]() Taxes +More All Taxes Best Tax Software Best Tax Software for Small Businesses Tax Refunds Small Business +More All Small Business Best Small Business Savings Accounts Best Small Business Checking Accounts Best Credit Cards for Small Business Best Small Business Loans Best Tax Software for Small Business Personal Finance +More All Personal Finance Best Budgeting Apps Best Expense Tracker Apps Best Money Transfer Apps Best Resale Apps and Sites Buy Now Pay Later (BNPL) Apps Best Debt Relief Best Mortgages for Average Credit Score.Best Loans to Refinance Credit Card Debt. ![]()
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