Credit Score and Credit Report Q&A

Hi Mike,
I have a question about my credit score. In today’s market what is really considered a good credit score to get the best interest rates and terms on any thing I borrow? I have always paid my bills on-time, and don’t have any collections. I was just curious what that benchmark might be. Also how often should I pull my credit report? Is once a year good enough?

Sandy Morton
New York, New York

Hi Sandy,
These are some great questions. In today’s market a credit score about a 720 is considered good credit for the best rate and terms. Some lenders have their own bench mark for better rates. They might require a 740 or above to get a quarter better or so. With the current FICO score model, a credit score 720 or above is considered excellent credit. If you score is around that benchmark, I would not sweat it.

How often should you pull your credit is a question I get quite often, here is something to chew on. The current revolving credit you have, re-reports every 30 days. That means anything can happened to your credit scores and credit report within a 30 period. So since your credit score is so important these days, I would recommend pulling your credit report at least once a quarter. Pulling your credit report is just good management of your credit health, and a good way to watch out for identity theft. Remember pulling your own credit report does not affect your credit score; this is considered a consumer credit report which is a soft pull on your score.If you want your credit scores you will have to pay for them, which I recommend since they are part of the decision making process in lending.


About the Author: Mike Clover is the owner of is the one of the most unique on-line resources for free credit score report, fico score, free credit check, identity theft protection, secured credit cards, student credit cards , credit cards, mortgage loans, auto loans, insurance and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

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