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A lot of folks know their credit score, but have no notion as to what their credit score should be. Or even what is considered good. To review, credit scores can range from 300 to 850. A credit score of 850 would be considered perfect, and a score of 300 would be considered the worst possible score a person could have. Credit scores are a measure of risk, how likely someone is going to be able to repay debt. So a person with a score of 300, for all intents and desires, would not repay that debt. That is what the score would tell a lender.

When it comes to mortgages, folks should aim to have their credit score be

by 700. Individuals with scores by 700 will get very good rates. A person with a 700 score is considered not very risky to the lender. Individuals with scores by 760 will most likely get the best rates offered by that specific lender. Keep in mind that the median credit score is going to fluctuate around 725.

Not to mention that all of that applies to credit card interest rates as well. Considering most American’s are in heavy debt, an incredible amount of money can be saved by increasing your credit score 25 or more points.

Closing point, humans save a lot of money whether they can increase their credit score by 700.

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