These same type brackets are often used by creditors to set interest rate increments on the money they are willing to loan.
So, as you can see, the better your score the better it is for you. Those with higher credit scores enjoy more perks from creditors than those who can not show by a good score that they are good credit risks.
If your scores are good you will have easier access to credit for yourself or your business at better rates. In the long run this saves you the borrower a lot of money.
A good credit score can also be benificial to you in getting a better job. Many employers now check credit scores before hiring. Employers view a good credit rating as a good indicator of a person's integrity and this goes a long way when they are hiring or considering someone for a promotion.
Credit card companies will offer greater rewards such as free hotel stays, free airline mileage and other perks to those with the better history of good credit.
In recent years these 3 digit numbers have become a vital aspect of every person's financial existence. Lenders rely heavily on these numbers to determine if a person is likely to repay the loan that they are about to make.
There may be items on your credit file that you have paid but still reflect as unpaid. These can be affecting your credit rating negatively. I have seen this happen many times.
Creditors even use the information in your credit file to help foresee if a consumer is likely to fail to pay particular types of accounts, such as cell phones, utility bills, medical bills, an auto loan or a mortgage.
So, What Is A Good Great Score? It should be the highest one you can get.
Get a copy of your credit scores and/or monitor your progress as you take steps to improve your credit rating. Visit: CreditReport.com.