Your Most Common Credit Questions, Answered
Simple answers to the credit questions people ask most: what a good score is, how cards and interest work and how to build or protect your credit.
Updated November 2026
In plain terms: A FICO credit score goes from 300 to 850, and 670 and up is usually seen as good. It’s based on your credit report, and paying on time matters most.
Looking at your own credit never hurts it. Bad marks usually stay for up to seven years. You can see your reports for free every week at AnnualCreditReport.com.
Find quick answers to more questions below.
Credit doesn’t have to be confusing. Most people have the same questions, and most of the answers are simpler than you’d think. Here they are, answered plainly.
Credit scores
What is a credit score?
It’s a number that shows lenders how likely you are to pay back money you borrow. FICO Scores, the most used, go from 300 to 850.
What’s a good credit score?
A FICO Score of 670 to 739 is usually considered good, according to Experian.
Source: Experian
Why do I have more than one score?
There are different scoring models, different versions and three credit bureaus. Small differences between scores are normal.
What matters most for my score?
Paying on time (35%) and how much you owe (30%), according to myFICO. Length of history (15%), new credit (10%) and credit mix (10%) make up the rest.
How often does my score change?
Whenever lenders send new info to the bureaus, usually once a month per account.
Does my income count?
No. Income isn’t on your credit report. Lenders still ask about it when you apply.
Can lenders look at more than my credit score?
Some can. A few lenders also look at things like bank account activity or rent payments. Learn about alternative credit scoring.
Credit reports
What’s the difference between a credit report and a score?
The report is your full credit history. The score is a number based on it.
How do I see my credit report for free?
Go to AnnualCreditReport.com, the official site set up under federal law. All three reports are free every week.
Does checking my own credit hurt my score?
No, never. It’s a soft pull. Here’s what soft and hard pulls do to your score.
How long do bad marks stay?
Most stay up to seven years. A Chapter 7 bankruptcy can stay up to 10. They matter less as they get older.
What if something on my report is wrong?
Dispute it with the credit bureau and with the company that reported it. The bureau generally has 30 days to look into it, according to the CFPB.
Are credit repair companies worth it?
Usually not. No one can legally remove correct, current information. The FTC says credit repair companies can’t charge you before they finish the work. You can dispute errors yourself for free.
Credit cards and interest
Do I need to keep a balance to build credit?
No. That’s a myth. Paying in full builds credit and saves you interest.
How much of my limit should I use?
Try to stay under 30%. Less is even better.
How does credit card interest work?
Your APR becomes a small daily charge on your balance. Pay the full statement balance by the due date, and you won’t pay interest on purchases.
Why does my balance go down so slowly?
Because small payments mostly go to interest.
Should I close a card I don’t use?
Think twice. Closing a card lowers your available credit, which can raise your utilization. If there’s no annual fee, keeping it open often helps.
How many cards should I have?
There’s no perfect number. Only have as many as you can pay on time. Here’s how to manage multiple credit cards.
What if I miss a payment?
You’ll probably pay a late fee. If it’s 30 or more days late, it can be reported and hurt your score. Pay as soon as you can.
Applying for credit
Why was I denied a credit card?
Usually it’s a low score, bad marks, short history, high balances, too much debt or too many applications. Your denial letter will tell you why.
Does applying for a card lower my score?
A little. A hard pull usually costs fewer than five FICO points, according to myFICO, and only counts for 12 months.
Can I find out if I’ll be approved first?
Yes. Prequalification uses a soft pull, so your score is safe.
How old do I need to be to get a credit card?
18. Under the CARD Act, if you’re under 21, you usually need your own income or a cosigner.
Building credit
How long does it take to get a credit score?
FICO generally needs one account open for at least six months and one account reported in the last six months, according to myFICO.
How do I build credit from nothing?
Try a secured card, become an authorized user or take a credit-builder loan.
Does a debit card help my credit?
No. Debit cards aren’t reported to the credit bureaus.
Can I build credit without a Social Security number?
Yes. Some issuers accept an ITIN. Here’s how to build credit without an SSN.
What’s the quickest way to raise my score?
Pay down your balances and fix any errors. For the full plan, see how to build a stronger financial profile.
Protecting your credit
What’s a credit freeze?
It locks your credit report so no one can open new credit in your name. It’s free, doesn’t hurt your score and can be lifted anytime.
Does marriage combine our credit?
No. You each keep your own report and score. Joint accounts show up on both, though.
Start with one answer
You don’t need to learn everything today. Pick the question that matters most to you, take one small step and keep going.
👉 Next step: See the top credit cards for building credit
