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Credit Score Frequently Asked Questions Team
UpdatedOct 26, 2010
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Frequently Asked Credit Score Questions

What is a Good Score?

The higher your credit score, the better; however, there is no real industry standard. Credit scores range from 350-850. Each creditor/lender judges your credit score differently and takes other factors into consideration when determining your eligibility and/or risk. In the past, anything above 690 was considered a great score. Today, you may need a score of over 720 in order to qualify for the best rates available. A credit score below a 620 is frequently referred to as "sub-prime."

How often do Credit Scores Change?

Your credit score is fluid; it changes as your credit information changes. Any time new information is added to your credit report, your credit score can change. The credit reporting agencies (TransUnion, Equifax, Experian) update their credit data every 60-90 days.

I have a Number of Credit Cards. Will that Affect my Credit Score?

Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable.