What Makes a Good Credit Score?
Understand your score and build confidence for your next financial move.
Why Your Credit Score Matters
Strong credit can open doors across many areas of your financial life, including:
- Better approval chances for loans, rentals, and everyday services
- Lower interest rates and fees when borrowing
- Easier approval when renting an apartment
- Reduced security deposits for utilities or phone services
- Less money spent over time
Knowing where you stand gives you the flexibility and confidence to plan ahead and make informed choices — whatever your next step may be.
What Do Credit Score Numbers Mean?
Most lenders use FICO® Scores, which are based on information in your credit report and range from 300–850:
| Score Range | Rating | What It Means |
|---|---|---|
| 300-579 | Very Poor | Harder to get credit; higher interest rates |
| 580-669 | Fair | May qualify, but with higher rates |
| 670-739 | Good | Solid standing; better rates & terms available. |
| 740-799 | Very Good | Strong financial trustworthiness |
| 800-850 | Exceptional | Best rates and approvals |
The stronger your score, the more flexibility and borrowing power you have.
What Affects Your Credit Score?
Credit scores are based on the information in your credit report, including:
- On-time payments (biggest factor)
- How much debt you have compared to limits (credit utilization)
- Length of credit history
- Recent new credit applications
- Mix of credit types (Cards, auto loans, mortgage, etc.)
Good habits over time lead to a stronger score.
When to Check Your Credit Score
Keeping an eye on your credit score is an important part of managing your financial health — and it’s easier than you might think.
With NESC Credit Union’s free Credit Monitoring tool, available in Online and Mobile Banking, you can:
- Check your credit score anytime and review your credit report
- Monitor changes to your credit over time
- Stay informed with alerts that help you spot potential issues early
You can also review your credit report for free once a year from each of the three major credit bureaus — Equifax®, Experian®, and TransUnion® — by visiting AnnualCreditReport.com.
How to Build or Improve Your Credit Score
Whether you’re new to credit or working to strengthen your score, small, consistent steps can make a big difference:
- Pay bills on time every month — payment history matters most
- Pay more than the minimum on credit cards when possible
- Keep balances below 30% of your credit limit to show responsible use
- Limit new credit applications to avoid unnecessary inquiries
- Keep older accounts open if they’re in good standing — length of credit history helps
If you’re just getting started, focus on one or two habits at a time. Building credit is a marathon, not a sprint.
Where NESC Can Help
Understanding your credit is just the beginning. At NESC Credit Union, we offer:
- The opportunity to talk with a local team member and create a personal plan that fits your goals
- Competitive loan and credit card rates
- Local decision-making you can trust
- Credit-builder options designed to help you move forward
Whether you’re planning a big purchase or simply working toward stronger credit, our team is here to help you take the next step with confidence.
Take charge of your credit — your future will thank you.
NESC is here to help every step of the way.
NESC is here to help every step of the way.