Credit Score

Banking & Credit

A credit score is a three-digit number (typically 300-850) that summarizes your creditworthiness for lenders. The FICO Score is the most widely used in the US; VantageScore is the secondary system. Scores factor in payment history, credit utilization, length of credit history, new credit inquiries, and credit mix. Above 740 unlocks the best rates on mortgages, auto loans, and credit cards. Below 580 is subprime — high interest rates and frequent denials. Build credit through on-time payments, low utilization, long-tenured accounts, and minimizing new applications. Bankruptcies stay on credit reports 7-10 years; late payments fall off after 7.