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The average FICO score in 2024 is 717.
People withhigher-than-average credit scorestypically exhibit many of the following behaviors.
Making on-time payments, however, can boost your score and make you more appealing to lenders.
Payment history is the largest factor in your score at 35%, saidcredit expert Jeanne Kelly.
Paying Down Their Debt
The FDIC recommends paying down your debt to avoid reaching your credit limit.
The less of the available credit you use, the lower your credit utilization ratio will be.
This contributes to a higher overall credit score.
This can help keep your balance lower.
The FDIC also notes that borrowing only for things you need will allow you to pay down existing debt.
Allocating your income to expenses and savings and sticking to your budget can help maintain a good credit score.
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