There’s a slight misconception out there that you either need an amazing credit score or you’ll be screwed in any financial situation you find yourself in. However, this isn’t exactly the case. An average credit score really won’t be the worst thing in the world, and if your score is truly bad, it could be a feasible goal to strive toward.
In fact, an average FICO credit score in the U.S. is a 695, which honestly isn’t too shabby. The ideal credit score that most strive toward is anywhere between 700-749, so this “average” score doesn’t happen to be too far from “prime” credit.
Most importantly, when you’re looking to take out a loan, lenders won’t view you as a risk since you’re score is relatively close to the average anyway. So while it’s always best to strive for higher, higher, higher in regards to credit scores, you shouldn’t sweat it too much if yours is considered merely “average.”
Image via Money Crashers.
