Credit Score FAQs What is a good credit score? A good credit score is generally considered to be a score of 740 or higher. This is the level at which you are likely to qualify for the best interest rates on loans. What is the credit utilization ratio? The credit utilization ratio is the percentage of your available credit that you are using. For example, if you have a credit limit of $1,000 and you are using $500, your credit utilization ratio would be 50%. What are the requirements to increase the credit line? The requirements for increasing your credit line vary from lender to lender. In general, you will need to have a good payment history and a low credit utilization ratio. You may also need to provide additional documentation, such as proof of income or assets. How often should I check my credit report? You should check your credit report at least once a year to make sure there are no errors. You can get a free copy of your report from each of the three major credit bureaus: Equifax, Experian, and TransUnion. How is my privacy protected when I check my credit report? The credit bureaus are required by law to protect your personal information. They use a variety of security measures, such as encryption and physical security, to protect your data. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.