What Is a Good Credit Score in 2022? 

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 Why Is It Important?

Credit scores can have a profound impact on our finances. Let’s go through all the in’s and out’s of credit and how it can affect your finances.

Essentially, a credit score is a number ranging from 300 to 850 to help lenders determine the likelihood that you’ll pay your loan back to them.

What Is a Credit Score?

What Factors Impact Your Credit Score?

Many factors can impact your credit score. Some more than others, but each aspect is just a piece of the puzzle when lenders look at the risk level.

Paying Your Bills

More precisely, paying your bills on time will have a significant impact on your credit score. Keeping up with all bills will boost your score significantly.

Your Debt

The amount of debt you are carrying will also affect your score. The less debt you have, the better.

Credit Card Usage

Credit cards can be a double-edged sword. Using them will help build credit, but too much will hurt your credit score.