According to Experian, a good credit score is a score above 700. This suggests to a lender that there is a history of good credit management. Experian states that most credit scores are between 600 to 750.Know More
There are several factors that impact a credit score. Numerous late payments, age of an account, credit to balance ratio and total debt are some factors that can negatively impact a credit score. On-time payments, no collection accounts and a low number of credit inquiries are factors that impact a credit score positively, Experian explains.
Each lender uses a different credit system to yield a credit score, Experian notes. A good credit score with one reporting agency typically leads to a good credit score with a lender.Learn more in Credit & Lending
According to Credit Karma, a good credit score is 720 to 850. A good credit score means that the consumer is likely to be approved for most credit products and be able to secure the lowest interest rates. However, "good" is a relative term that varies from lender to lender.Full Answer >
Making on-time payments on loans and maintaining low credit balances are important factors that contribute to keeping a good credit score, according to About.com. Keeping old accounts open and avoiding unnecessary credit applications are also helpful.Full Answer >
A credit score of 585 is not considered to be a good credit score and indicates to lenders that the individual is in the high-risk category. With a FICO credit score of 585, it is difficult for a person to get new lines of credit or loan approvals.Full Answer >
It takes years to build and establish a good credit score, according to FreeScore.com. An individual's credit score changes over time, and it is affected by applying for, using, making or missing payments for credit. Recent activity carries more weight, according to the California Department of Consumer Affairs.Full Answer >