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Experts say to aim for a credit rating in the mid-700s.
Credit checks are common during the tool process for a loan or credit card.
Your credit score is a way for lenders to assess your creditworthiness.
FICO Scores is the most widely used credit scoring system, with scores ranging between 300 and 800.
The higher the score, the lower your perceived risk to lenders.
I always tell people, shoot for 760 or better, Ulzheimer said.
That way, theyre safe for all loan types and cards.
To lenders, a consumer with a score in the 800s is a sparkling applicant.
From there, interest rates increase for every 20-point decrease in their credit score.
Below that, you’re free to add another half percent.
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