Credit Scores

Texas has the lowest average credit score, 650, but as the article points out that score is not that bad. Read on for more details.

A lower score leads to higher interest rates on everything from credit cards to mortgages, Orman saidA score of 850 is the highest one possible, and an ideal score is around 760 or above, according to Orman. Anything below 700 will leave consumers with high interest rates, and anything below 600 will take at least three years to repair.Repairing credit scores starts with paying off credit cards, starting with the one with the highest interest rate, Orman said.”Keep paying the minimum on all the rest,” Orman said. “As you keep doing that, you roll it down and roll it down and guess what? Before you know it, you’ll be out of credit card debt.”

nbc5i.com – News – Good Credit Scores Vital

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