Have you ever wondered, how high can my credit go? A credit score is a three-digit number that represents your creditworthiness and is used by lenders to determine your credit risk. A good credit score is essential if you want to qualify for loans, credit cards, and other forms of credit. In this blog post, we’ll explore score ranges, what’s the highest score, what’s the lowest score, and offer advice on how to improve yours. We’ll also discuss using Brigit’s Credit Builder to help boost your credit score.
Credit scores range from 300 to 850, with higher scores indicating a better credit history. Scores can vary depending on the credit bureau and the scoring model used. Here’s a breakdown of the score ranges:
740-799: Very Good
What’s the highest score?
The best you can achieve is 850. While it’s technically possible to achieve a perfect score, it’s incredibly rare. Only a tiny percentage of people have one above 800, and even fewer have one above 850. Don’t worry, though; you don’t need a perfect score to qualify for credit. Lenders typically consider anything above 700 as good.
What’s the lowest score?
The lowest credit score you can have is 300 (you can also have no score). A score this low indicates that you have a poor credit history and are a high credit risk. If you have a score this low, it can be challenging to qualify for credit, and you may need to work on improving your score.
How to improve your score
Improving your credit score takes time and effort, but it’s worth it. Here are some tips on how to improve your score:
- Pay your bills on time: Late payments can have a significant negative impact on your score.
- Keep your balances low: High balances can indicate that you’re overextended and can hurt your score.
- Use credit responsibly: Don’t max out your credit cards, and only apply for credit when you need it.
- Check your credit report regularly: Make sure there are no errors or fraudulent activity on your report.
- Try Brigit’s Credit Builder*: this tool can help you build credit. It works by reporting payments to the credit bureaus, which can help build your credit history.
*Impact to score may vary. Some users’ scores may not improve. Results will depend on many factors, including on-time payment history, the status of non-Brigit accounts, and financial history. Results show that customers with a starting credit score of 600 or below were more likely to see positive score change results. A Brigit subscription is required.
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