5 Characteristics of People with an Excellent Credit Score

By: Ellen Henderson Sirull Credit Check

Are you one of those people with stellar credit? If so, that's wonderful! If you're like a lot of people, though, your credit is a work in progress and you're always trying to keep your finances solid. So, what is different about those people who have excellent credit? Check out these five things they're likely to have:

1. They're in the know.

'Eyes wide open' is the best way to approach your credit and finances. If you check your credit report regularly, you're not only more likely to know what potential lenders would see before approving you for a loan, you're also more likely to catch something bad like identity theft sooner rather than later.

2. They set and track their goals.

Just like many successful businesspeople, you should track your saving goals and monitor your debt to stay ahead of the game. Paying your bills is one of the most important things you can do to keep your credit score up, but keeping your spending in check and planning ahead by building an emergency fund are important, too, since you can't always plan for unexpected expenses.

3. They celebrate.

Even small goals are important to celebrate. By celebrating accomplishments big and small, you can keep yourself motivated to get to the next 'level' when it comes to your credit and finances. You don't have to have elaborate celebrations. Splurging on a one time item that you normally cut from your budget can be a small way (even if it's just that super-large latte you never treat yourself to during the week).

4. They don't rely on 'fad diets.'

Solid and consistent healthy finance habits are just as beneficial as healthy eating and regular exercising. If you binge on spending and try to scramble to right your wrong habits, you may find yourself fighting a losing battle. Keep strong and stick to your budget so you can enjoy lower stress levels and hopefully a higher credit score, too.

5. They take things slow and steady.

Adrenaline junkies beware-- when it comes to credit and finances, taking your time with major decisions is important. If you stay away from maxing out credit cards and don't apply for credit unnecessarily, you will be in good company.

There are lots of things that can impact your credit score. These habits are just some of the behaviors that credit savvy people exhibit. Are you on the right track or are there areas you may want to pay more attention to in your own life?

Ellen Henderson SirullAbout Ellen Henderson Sirull

Ellen Henderson Sirull is Editor-in-Chief for Experian Consumer Services, which offers credit monitoring products like freecreditscore.comTM. Find Ellen on Google+.

This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

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