A New innovative way to fix your credit

Most, but not all, credit accounts (loans, credit cards, utilities, etc.) report to at least one of the three major credit bureaus on a regular basis. But since lenders aren’t required to provide this reporting on a specific schedule, each lender does it at their own cadence. So your credit score can change frequently, based on how much new information is received over a given time period. The more credit accounts you use, the more often data are reported, and the better the chance that your credit score might change in the short term – in certain cases, even daily. For purposes of your free credit score in U.S. Bank mobile and online banking, your score is updated monthly based on the date you enroll in the service. You’ll automatically receive a monthly email notification when your score has been updated.

A Credit Score over a 660 is considered “good” credit. This is the score that most lenders will approve you with a good interest rate. Once you have good credit, you’ll want to increase your credit score over time to get over a 720 credit score (or higher), as this will help qualify for the best approvals and interest rates.

Any score under a 620 is considered “bad” credit. Having bad credit can really affect your ability to have any creditor or lender approve you for a loan. Working to increase your credit score to at least a 660 will help keep you from having to pay high interest rates on future loans.