Americans: Your Credit Score Is Going Up

Your credit score, which evaluates your credit worthiness on a scale of 300 (poor credit) to 850 (excellent credit), is a primary indicator for lenders evaluating how much credit to extend to you and on what terms.
The average FICO credit score has hit a new milestone: 700.
That’s considered “good” credit — and it’s the highest average score since FICO began tracking 12 years ago.
But lenders can draw their own lines about what is considered “good” credit, although a higher number is always better.
In the wake of the recession, many people acted in ways that may have hurt their credit score — making late payments, keeping large balances on their credit card and taking on more credit than they could handle.

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