In this video we discuss the 2 quickest and consequently the best ways to build your credit score.

Even if you never had credit before or you are struggling with bad credit you will find these 2 ways beneficial.

In this video I provide 4 tips to help you determine what is a good credit score.

Tip#1 Know what you are looking to obtain the credit for.

If you are a first time home buyer the minimum score to have to purchase a home is 620. Between 620 and 640 allows you to obtain small lines of credit under 3,000 dollars.

A score of 580-620 gets you into a car in a number of cases. So again know what you are looking to obtain the credit for is tip#1

Tip#2 Know the scoring model used by the creditors you are borrowing from.

Fico score ranges from 300-850, where as the Vantage score goes from 360-840. Each model is different and knowing what scoring model is used by the creditor granting you credit is key in determining a good credit score.

Tip# 3 Understand that the Fico score is used by most creditors in making a credit decision.

Particularly if they are going to lend you money. So with that in mind always strive for over 720. In this economic environment a score of 680-720 is considered a decent/good score. A 740-850 is excellent to the best you can get.

Tip #4 Be careful when obtaining a Credit score from Credit Karma.

The official site to obtain your credit report, and for a nominal fee your credit Fico score is at www.annualcreditreport.com