Experts Shed Light on Americans’ 6 Biggest Credit Question

Originally a simple measure of one’s ability to borrow money, credit has become a behemoth influence over our lives. It now impacts everything from our financial futures to our access to things like jobs and housing.

Thriving in this environment requires a good understanding of how credit works, yet many Americans still struggle to grasp its basic mechanics and terminology.

Fortunately for us, the financial comparison site Forbes Advisor is here to clear up some of the fog.

What Is A Good Credit Score?

On a scale from 300 to 850, a credit score between 670 and 739 is generally considered “good.” The higher your score, the lower the risk you represent to anyone who lends you money.

APR stands for annual percentage rate. It calculates a loan’s interest rate and finance charges over time — the total cost of credit. APR accounts for interest, fees, and time.

What Is APR?

How Can I Build Credit?

To build credit, you must first establish responsible credit habits. That means you should always make payments on time, every time.

Credit scores of 740 to 799 are considered “very good,” while 800 is the bar for “exceptional” scores.

What Is The Highest Credit Score?

How Many Credit Cards Should I Have?

The answer to this question is different for everyone based on their credit history and credit needs. All you need is one credit card to build a solid credit history.

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