An excellent credit score can unlock low interest rates on mortgages, auto loans and credit cards. In many states, a good score is also the key to lower auto insurance premiums. Although there are hundreds of credit scores out there, FICO remains the industry standard and isn’t shy about telling people how to improve their scores. If you want to have an excellent score, you should follow these three steps.
Always Pay On Time
The single most important part of your credit score is making payments on time. Even a single missed payment that becomes thirty days late could take 90 points or more from your credit score.
