Why Not Wise Credit

WHAT IS A GOOD CREDIT SCORE?
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As you’re building your credit, it can help to have a specific goal in mind. Here’s a breakdown of what’s typically considered a “GOOD” credit score.

Most score ranges go from 300 - 850, and generally, scores between 700-749 are labeled “GOOD,” while 750 and above are labeled "EXCELLENT”.

Whether you’re applying for a credit card or buying a home, these three-digit numbers can go a long way in determining whether a lender will do business with you.

Keep in mind that a specific score isn’t a guarantee for approval — it’s just one of the things that a lender considers.

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AUTOPAY YOUR WAY TO A BETTER SCORE!!!

1. Get a card to increase your total credit limit.
2. Put a small monthly bill on it -- like your Netflix
subscription or gym membership.
3. Set up autopay and let that card chill for best
results.

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Understand the Basics of Credit
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As you start to build credit, you should understand the basics of how it works.

Your credit report – maintained by credit bureaus Experian, TransUnion, and Equifax – contains data on your current and past debts, payment history, residential history, and more. This data is supplied by many of the lenders, creditors, and businesses with which you hold accounts.

The information contained in your credit report determines your credit score. Higher credit scores are more attractive to lenders and creditors. The factors that influence your score include:

*Payment History
*Average Age of Accounts
*Credit Utilization Ratio
*Account Mix
*New Credit