Basic Tenets of Credit Scoring
Maintaining a high credit score is one of the most important aspects of managing your personal finances. With a good credit score, you'll qualify for loans with lower rates. Credit scores range from 300 to 850 with a national average score of about 692 (for FICO Score), and 723 as the median. A credit score of 720 is considered a good credit score. A credit score is not only used in qualifying loans but it is also used to make hiring decisions and set insurance premiums.