There are multiple credit scores out there, but the most common is your FICO score, which ranges from 300 to 850. A score of 780 or above is considered excellent and will land you the top deals available, while a 720 to 780 is strong but may not qualify you for the best rates, says John Ulzheimer, president of consumer education at SmartCredit.com.
A 680 to 720 means you’re likely to get approved for credit but not likely to qualify for the most favorable rates, while having a 680 or lower will make it hard to get approved for credit at all, and any credit you do get will come with sky-high interest rates.
To avoid this bottom rung, steer clear of these common credit mistakes:
Carrying big balances, closing credit cards, paying late, defaulting, opening too many credit lines, not having a credit card, and co-signing.