Ask Mike! »  Good Credit Scores

Q: What is a good credit score and how can I increase mine?

A credit score is a number that summarizes the historic data on your credit report. Each of the three credit bureaus will assign a score.

Scores range from 350 (high risk) to 950 (low risk). The most effective way to keep or increase your score is to make all of your payments on time.

Nothing influences your score faster than a late mortgage payment. Try to have your revolving/charge account balances at less than 30% of the high credit limit. Too many revolving accounts increase the potential of debt exposure and possible abuse.

You can get a free credit report annually at www.annualcreditreport.com.