How I Achieved The Perfect Credit Score — Here's The Magic Formula I Used

What Is A Great Credit Rating?

When it comes to managing your finances, it’s important to have a good credit rating. Your credit rating is a reflection of your creditworthiness and how likely you are to repay any loans or debts you take on. A good credit rating can help you qualify for lower interest rates and better credit card deals. It can also help you when it comes to applying for a mortgage or other loan.

Your credit rating is based on information from the three main credit bureaus: Experian, TransUnion, and Equifax. These bureaus collect information about how you handle credit, such as whether you make payments on time, how much debt you have, and what type of credit cards you have. This information is used to calculate your credit score, which ranges from 300 to 850.

Generally, a credit score of 700 or higher is considered good. Scores between 650 and 700 are considered fair and scores below 650 are considered poor. A great credit rating is considered to be 750 or higher. This score indicates that you have a consistent history of paying your bills on time, have a low amount of debt, and are responsible with your credit cards.

Having a great credit rating can open up many opportunities and benefits. A great credit rating can help you qualify for lower interest rates on mortgages, auto loans, and credit cards. It can also make it easier for you to get approved for credit, such as a loan for a new car or a business loan.

It’s important to remember that a great credit rating doesn’t happen overnight. To achieve a great credit rating, you need to maintain a good credit history by making timely payments, keeping your debt levels low, and avoiding too many hard credit inquiries.

Key points:

•A good credit rating is based on information from the three main credit bureaus: Experian, TransUnion, and Equifax.
•A credit score of 700 or higher is considered good. Scores between 650 and 700 are considered fair and scores below 650 are considered poor.
•A great credit rating is considered to be 750 or higher.
•Having a great credit rating can open up many opportunities and benefits.
•To achieve a great credit rating, you need to maintain a good credit history by making timely payments, keeping your debt levels low, and avoiding too many hard credit inquiries.

People Also Ask:

Q: What is a good credit score?
A: A credit score of 700 or higher is considered good.

Q: What is a great credit score?
A: A great credit score is considered to be 750 or higher.

Q: How do I get a great credit rating?
A: To get a great credit rating, you need to maintain a good credit history by making timely payments, keeping your debt levels low, and avoiding too many hard credit inquiries.

What Is A Great Credit Rating – Whats The Best?

Lynnette Khalfani-Cox, 54, achieved a perfect credit score for the first time in 2021. According to FICO, just 1.6% of Americans have a credit score of 850. Lynnette says the secret formula lies in understanding exactly how credit scores are calculated — and it can help anyone to drastically improve their credit score.

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How I Achieved The Perfect Credit Score — Here’s The Magic Formula I Used

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