In a credit help post I read this morning authored by Suze Orman, the queen of money advice said a 720 credit score simply won’t cut it anymore.
According to Orman, the top tier for the best credit card offers is now 760, not the previous 720 many were accustomed to.
If your score falls below 760, I wouldn’t fret much, as the difference in APR or credit offerings will likely be slight if anything.
Sure it may have a larger impact when it comes to big purchases like a mortgage or an auto lease, but other qualifying factors such as income and asset verification weigh in as well.
But if you still strive to be a part of the new top credit tier, take a look at a variety of ways to raise your credit score, which is now even weaker than ever before. =)
For the record, Fico scores range from 300 to 850, with higher scores representing a lower risk of default.
Related: What is a bad credit score?