7 Habits of People With Excellent Credit Scores

fico pump 7 habits of people with excellent credit scores

Want to improve your credit score? Take a page from the best. People with excellent scores know that following a few basic rules is the key to success. Adopting their habits could boost your score into the stratosphere, opening the door to the best interest rates and terms on loans. And capturing the lowest loan rates can save you a bundle of money in the long run.

The two big consumer credit scoring companies are FICO, whose scores are most commonly used in lending decisions, and VantageScore, a company created by the three major credit bureaus (EquifaxExperian and TransUnion) whose scores have been gaining ground among lenders. The latest models of both scores operate on a scale of 300 to 850. Generally, a score of 750 or higher is considered excellent.

Once you know your score, you can start taking steps to raise it by following these seven habits of people with excellent credit scores.

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  1. They Pay Bills on Time
  2. They Watch Their “Utilization Ratio”
  3. Keep Balances Low
  4. Give It Time
  5. Apply for Credit Sparingly
  6. Choose the Right Credit Cards
  7. Monitor Your Scores and Credit Reports

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Disclosure: Some of the links in this post are 'affiliate links.' This means if you click on the link and purchase the item, I will receive an affiliate commission.

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