Your credit card score is a traditional letter grade that we created to reflect how effectively you are using credit cards to boost your credit score. Though the credit-scoring bureaus consider more than just your credit card use, your credit card score is a good indication of your overall credit score. An “A” credit card score likely translates to a high credit score (720 or above), so long as you have a healthy mix of credit, pay your bills on time, and review your credit report for errors.
Your credit card score considers some of the same factors that your credit score considers:
- What makes up a credit score? Component #1: Your payment history.
- What makes up a credit score? Component #2: Outstanding debt.
- What makes up a credit score? Component #3: The age of your credit.
- What makes up a credit score? Component #4: The type of credit you have.
- What makes up a credit score? Component #5: Credit inquiries.
Remember that your credit score is the three-digit number that lenders will consider when determining whether to give you a loan and how to assign an interest rate to that loan. Though your credit card score indicates whether you have healthy credit card habits, it should not be relied upon as an accurate means of gauging whether you will receive the best interest rates. Instead, use the What Is My Credit Score? quiz and related articles as tools to help you learn how to adopt strong credit-building habits and build your credit score.
