Personal Finance Buzz

Not too long ago, a reader on my blog asked me “Is 700 a good credit score?” I explained to her that it is a decent score, but in today’s economy I would no longer consider it good. Creditors are now pickier than ever when it comes to granting credit and although a 700 credit score would have gotten you far in the past, it won’t today. Now more than ever, a high credit score is important.

But whether you currently have a 605 or a 755, what are ways of improving your credit score? Besides paying off credit card debt, here are 3 tips you should keep in mind:

The recent credit-crisis has had a transformational impact on the lending industry while, at the same time, it has forced most people into changing their credit activities. Although lending rates are at their historic lows, credit with favorable terms is still difficult to obtain except for the most creditworthy people. The credit upheaval has also resulted in changes in the way lenders view credit scores with many raising the bar for what is considered a good or great credit score. And, because the difference of one point in your credit score can translate into hundreds or thousands of dollars in borrowing costs, it is more important than ever to remain vigilant over your score and look for ways to improve it.

Improve your credit score fast for free. Here are 5 tips you can implement that will improve your scores quickly.

Is your credit score in the dumps? Here are a few easy ways to begin the long journey to good credit.

Improving your credit score for dummies