What is an average or a good credit score?
Credit scores range from 300 to 850 . The U.S. average credit score is 673 while the average for North Carolina is 662 and South Carolina is 661. A credit score above 680 was considered desirable but with the current financial market conditions the higher the better. Things that could affect your credit score? Payment history. Pay your bills on time How much you owe. Owing large sums on numerous accounts can lower your score. Credit history, the longer, the better. New credit accounts are considered higher risk and tend to lower your score regardless of your payment history. It is better to have several types of credit, mortgage loans, credit cards and installment loans. How to Improve Your Credit Score. You may get a free, no obligation copy of your report from each of the three major credit reporting companies – Equifax, Experian and TransUnion – once each per year. www.annualcreditreport.com . Check for and correct any errors. Pay down credit card bills. Avoid a month to month balan