What Is a Good Credit Score?

What Is A Good Credit Score

Your credit score is a vital indicator of your financial health. A good credit score opens doors to countless opportunities, such as securing low-interest loans, qualifying for favorable insurance rates, and even enhancing your employment prospects.

Welcome to the 8th FLA Guest Blog Post! Today, we explore how not only get a good credit score but also understand what a good credit score is. Thank you to Andrew from Gauss Money for sharing this helpful article.

Andrew helped develop a fintech app for paying off debt. He thought my readers might be interested to hear more about how to use Chat GPT for their personal finances. Just this past week, Gauss Money purchased the rights for their GPT tool that is 100% free to users, and has been created with the inputs needed to support even the most complex financial questions. They call it ChatPF (personal finance).

They’ve gained a lot interest from users dropping in all of their debts to create an optimized budget and payoff plan. They can answer which debts to pay off first and what strategies are the best for your specific budgets, goals, and debt amounts.

Gauss improves your credit score in most cases. Gauss prevents late payments and reduces the amount of debt on your cards, reducing their utilization, which has a great positive effect on your credit score. You can improve the score further by paying on time to Gauss. No fees are charged if you’re late with your repayments to Gauss, but your credit score will be negatively affected.

While building and maintaining a strong credit score requires consistent effort and responsible financial behavior, the rewards are well worth it. In this blog post, we will delve into actionable steps you can take to improve and maintain a good credit score.

What would be considered a satisfactory credit rating according to the FICO scoring system?

The FICO website states that a good score is between 670 and 739.

Scores ranging from 580 to 669 are considered fair, and scores between 740 and 799 are labeled as “very good”.

Any score above 800 is considered “exceptional”.

The average credit score in the United States, according to FICO, was 716 in August 2022, which is in the “good” category.

FICO is the name of the company that created the first credit scoring system, which utilizes information from TransUnion, Equifax and Experian, the three major credit bureaus.

What is considered to be a favorable VantageScore?

An alternative to FICO, VantageScore, uses the same data from the three credit bureaus to generate its score.

NerdWallet gives individuals the opportunity to obtain a free credit score through VantageScore coupled with the TransUnion credit report.

Scores ranging from 661 to 780 are considered ‘prime’, while those between 780 and 850 are known as ‘superprime’.

‘Near prime’ is indicated by scores ranging from 601 to 660 and anything below 600 is classified as ‘subprime’. According to the second quarter of 2021, the average VantageScore 3.0 was 695.

The advantages of having an excellent credit rating

Having a good credit record is significant because it decides if you can obtain a loan and the amount you will need to pay in interest. A good credit rating can help you get: an unsecured credit card with a reasonable interest rate, a suitable car loan or lease, a mortgage with a reasonable interest rate, the capability to open fresh credit for costs in a crisis if you do not have an emergency fund or it is used up.

A good credit score also can be advantageous in other ways: in numerous states, people with higher credit scores pay less for automobile insurance. Furthermore, some landlords use credit scores to screen out tenants. Therefore, having a good credit score is advantageous even if you do not plan to apply for credit.

Some frequently asked questions include:

What is a good credit score to buy a car?

If your credit score is under about 700, you should be prepared for questions about negative items on your credit file when purchasing a car. Individuals with major stains on their credit are routinely approved for car loans, but you may not qualify for a low rate.

What is a good credit score to buy a house?

You don’t have to have perfect credit to get a mortgage. In some cases, credit scores can be in the 500s. However, credit scores estimate the risk that you won’t pay as agreed, so lenders do offer lower rates for higher scores.

What is a good credit score for renting an apartment?

Landlords or property managers generally aren’t looking for perfect scores. They are more interested in your credit record.

What figure do loan providers consider to be an acceptable credit score?

Financial institutions like credit card companies and lenders of mortgages may each establish their own criteria for what makes someone a good credit risk. In the end, however, a “good credit score” is one that gets you access to credit when you need it, or qualifies you for the most favorable interest rate on a mortgage.

What elements have an impact on your credit rating?

When it comes to what impacts your credit score, two points stand out: whether you pay on time (payment history), and the amount of your credit limits you are using (credit utilization). The other elements play a part, but are not as significant: the duration of time you have had credit, the diversity of credit types you have, and how often and recently you have applied for credit.

Good Credit Score
Image Source: iStock by Getty Images

Ways to attain a strong credit ranking

Establishing good credit habits on a consistent basis will help increase your credit score. To do this, you should pay your bills on time as this is the most influential factor in your score. A skipped or late payment can damage your score and stay on your credit report for as many as seven years.

Try to keep your credit card balances below the limit, with utilization at around 30% or lower. High utilization will lower your score, but the damage can be reduced by reducing your balance and showing lower utilization on your credit reports. Whenever possible, keep credit accounts open, as this will raise your average age of accounts, which has a minor effect on your score.

Additionally, closing an account will reduce your overall credit limit, raising your utilization. Be careful not to make too many credit applications in a short period of time, as this can cause a short-lived dip in your score.

Make sure to check your credit reports and dispute information that you think is incorrect or too old (most negative information drops off after seven years). If you want to know what is powering your credit, sign up for a free credit score and get personalized insights with weekly updates to track your progress.

For instance, pay off high interest debt to lower your utilization. Utilize tools like credit card payoff calculators to make a plan you can stick to. Also consider using other financial tools to lower the APR on your credit card debt for faster payoffs like balance transfer cards or low interest credit lines designed for credit card debt

Can a credit score of 700 be considered satisfactory?

Above all, a credit score of 700 is viewed positively. If you have a good credit score, you’re more likely to be approved for additional credit (although lenders may take into account other things besides your score). It is also more likely that you’ll get more desirable terms such as a lower rate of interest.

What is considered a high credit rating?

Credit ratings between 720 and 850 are deemed to be excellent. If your rating is above 800, you can receive the most favorable borrowing conditions.

What is the ideal credit rating, and how many individuals possess it?

The most popular credit scoring system is the FICO score, which ranges from 300 to 850. Based on a study completed by Experian, a credit bureau, 1.3% of the FICO scores in the third quarter of 2021 were the highest score of 850. Unfortunately, credit scores are variable and maintaining an 850 is not likely to happen continuously.

What is the acceptable level of creditworthiness?

An acceptable credit score is estimated between 630 and 689. In other words, it may be more challenging to qualify for financing or obtain the terms you are after.

A bad credit score is a numerical representation of an individual’s creditworthiness, which reflects their financial history, and is used to assess the risk of lending money to them.

Credit scores less than 630 are considered to be bad. Utilize the advice provided above to support your credit profile.

Sources of information used by the NerdWallet writers include peer-reviewed studies, government websites, academic research, and discussions with specialists in the field. Content is carefully examined for truthfulness, timeliness, and pertinence.

If you would like to learn more about the high standards of journalism followed by NerdWallet, you can refer to the editorial guidelines. Bev O’Shea, a former credit writer for NerdWallet, has written for the New York Times, Washington Post, MarketWatch, and other publications.

Comprehending one’s credit rating

The most general credit score is between 300 and 850, with a score of 690 being considered good. Moving the dot to your present score can help you to understand more, like how you can raise it.

In fact, if you don’t know what level your rating is at, you can get a free credit score from NerdWallet.

The upper limit of good credit is 719. Pick the score that is most similar to yours to learn what your credit score can do for you, such as: 690, 695, 700, 705, 710, 715, or if you reach 720 you have achieved excellent credit.


A good credit score opens doors to financial opportunities and empowers you to achieve your goals. By understanding the key factors that influence your credit score and adopting responsible financial behaviors, you can steadily improve your creditworthiness. Remember, building a good credit score requires patience, consistency, and discipline, but the long-term benefits are well worth the effort. Start today, and pave the way for a brighter financial future.

Disclosure: Fresh Life Advice is an opinion-based website. I am not a financial advisor, and the opinions on this site should not be considered financial advice.

Personal Capital: The Ultimate Tool to track your Net Worth, Budget and more.

What are your thoughts on building a good credit score? Let me know in the comments below.

The Ultimate Guide to Thriving in a Recession: Practical Tips for Your Finances and Business

The Ultimate Guide to Thriving in a Recession_ Practical Tips for Your Finances and Business

The thought of a recession can be overwhelming and stressful, especially for those who are not prepared. It’s important to remember that a recession is not the end of the road. With the right mindset and actions, there are ways to come out victorious during tough economic times.

Welcome to the 7th FLA Guest Blog Post! Today, we explore how not only survive but also thrive through a recession. Thank you to Chelsea from Business POP for sharing this helpful article.

Chelsea is an experienced Marketing and Advertising professional with a demonstrated history of working in the media industry. Chelsea is especially skilled in Digital Media advertising, Events, Search Engine Optimization (SEO), Search Engine Marketing (SEM), Microsoft Suite, Data Analytics, Adobe products, and Marketing Strategy.

The digital age has unquestionably arrived. Incorporating new technologies into business procedures will be critical for owners who want to grow their businesses.

Business POP will show you how to grow your business through innovation. It is aimed at small and medium-sized business owners and will offer advice on what digital enhancements to consider and how such changes can help them grow.

The economy can be a rollercoaster ride, and with the recent pandemic, the unpredictability has only increased.

In this article, Fresh Life Advice will discuss important strategies such as cutting expenses, wisely investing, and finding alternative sources of income to help you become recession-proof and potentially emerge even stronger from the experience.

Keeping Your Household Budget Under Control During a Recession

Managing your household budget is a key strategy for surviving a recession. This involves sticking to a budget, spending only on necessary expenses, and finding practical ways to save money. Start with creating a budget, which includes an inventory of your expenses and income.

It’s important to review your expenses and see where you can make changes. This could include cutting subscriptions you don’t use, shopping around for insurance, dining out less often, and focusing on buying what is absolutely essential.

There are also multiple resources out there that can help you save money. Consider becoming a member of a local credit union to take advantage of lower interest rates and additional services.

Paying Off High-Interest Debt

During a recession, paying off high-interest debt is crucial for financial planning. It’s often difficult to pay off debt because high-interest rates can add up quickly, making your overall debt much harder to manage. For instance, if you have credit card debt with an interest rate of over 20%, paying down the principal can feel like an impossible task.

Consolidating your debt with a lower interest rate may be the solution. A credit counseling agency can help you assess your finances and identify your options to manage your debt.

Alternatively, consider negotiating lower interest rates by refinancing or taking out a personal loan. By doing so, you can reduce your debt and gain more control over your finances during a recession.

Recession Investing in a Home Warranty

Homeownership can come with unexpected expenses, but having a home warranty can help to alleviate the stress and financial burden associated with surprise repairs. For individuals who are interested in avoiding the high costs of home system and appliance repairs during a recession, it’s essential to consider this option.

A good home warranty generally covers a range of systems and appliances, such as plumbing, electrical, heating, and cooling systems, and large appliances, including refrigerators, water heaters, and ovens, providing peace of mind that in case anything goes wrong, you are covered.

Consequently, investing in a warranty can be an incredibly wise choice for those seeking to manage their monthly expenses while safeguarding their financial security.

Earning Extra Income on the Side

During a recession, relying on a single source of income can be a risky move. This is why diversifying your income is critical to ensuring financial stability.

The first step to diversifying your income is to evaluate your skills and see if there are any opportunities to monetize them. For example, you can offer your services as a freelancer, tutor, or gig worker for ride-sharing services. You could even consider starting a small business or selling items you no longer need online.

Referral programs are another option for generating additional income with minimal effort. By referring new clients to businesses, you can earn extra cash without investing too much time or resources. Overall, diversifying your income is essential to surviving a recession and ensuring financial security in the long run.

Effectively Diversifying Your Portfolio

To weather the storm of an economic downturn, it is crucial to diversify your investments and avoid putting all your financial resources into a single avenue. By spreading your investment portfolio across different types of assets such as stocks, bonds, and commodities, you minimize the impact of market fluctuations on your wealth.

Practical Tips for Your Finances and Business
Image Source: Anna Tarazevich via Pexels

Beyond this, it is essential to remain aware of the different industries and sectors in which you invest. Some sectors like tourism or hospitality are especially vulnerable to recessions and downturns. Therefore, diversifying across industries further can help you mitigate the risk of losses during a financial crisis.

So, remember to diversify both the type of investments and the industries in which you invest to secure a more robust and resilient portfolio.

Tackling Financial Anxiety and Stress

During a recession, the impact on emotional health should not be underestimated. Financial strain, job insecurity, and overall uncertainty can lead to feelings of frustration, fear, and anxiety.

It is crucial to recognize the early signs of mental health issues and seek appropriate help to manage them effectively. Maintaining a healthy lifestyle with regular exercise, taking care of nutrition, and getting enough sleep can help reduce stress levels.

Additionally, seeking support from a trusted network and confiding in someone about your financial concerns can provide much-needed reassurance and support. Mental and emotional health should be a top priority during a recession as it can significantly affect your overall quality of life. It’s important to remember that taking care of yourself is not a selfish act but rather an act of self-care that can benefit you and those around you.

Surviving a Recession

In conclusion, the prospect of surviving a recession can be daunting, but it is not impossible. By taking steps to manage your household budget, you can ease your financial burdens and put yourself on a path toward stability. An impactful way to accomplish this is by investing in a home warranty, which can protect you against unforeseeable expenses that could put a severe strain on your finances.

It is important to remember that experiencing anxiety related to financial worries is normal, but there are several strategies available to help manage your stress levels. With dedication and persistence, you can not only survive but also thrive during a recession, emerging from this experience stronger and more resilient than ever before.

Disclosure: Fresh Life Advice is an opinion-based website. I am not a financial advisor, and the opinions on this site should not be considered financial advice.

Personal Capital: The Ultimate Tool to track your Net Worth, Budget and more.

What are your thoughts on recessions? Let me know in the comments below.

April Side Income Report | 2023

April 2023 Side Income

Welcome to the 2023 April Side Income Report.

Let’s start this post with the obligatory caveat:

FLA’s side hustle income reports are not for the purpose of bragging. This side income amount of money is by no means impressive. The sole purpose of this series is to inspire you to create diversified income streams in order to help you achieve your financial goals faster.

I began this tumultuous F.I.R.E. (Financial Independence – Retire Early) journey almost immediately after graduating from college and shortly realizing it is never ideal to work for someone other than yourself.

After withdrawing from the corporate world, I plan to fully indulge in my mission of helping 10 million people with their own path to financial freedom. I’ve discovered a wonderful community of people with shared mindsets. So I’m currently on a journey to see if we can turn FLA into a little business that supports the mission.

The reason I’ve decided to publish these income reports is because I want you to be a part of the journey.

After aggressively saving 60%+ of my annual income year after year, I’m approximately 32% of the way to retirement with 7 years to go. I’m aware that side hustles may never fully support one’s expenses, but I’m willing to try.

At the very minimum of making $1/month (what one may consider failure), I am ecstatic as I realize this can be considered supplemental income that will be able to be reinvested into this blog to enhance your reading experience on FLA.

Through my arduous journey, I’ve learned to focus on the future value of money. One dollar to you may look like a standard George Washington-faced bill, but to me, I see its potential.  Accounting for 3% inflation, investing that dollar could return 5 times its original value in 25 years. Yes, that’s like putting $1 into an ATM and having it return a $5 bill back to you. How amazing is compound interest?! Hypothetically, you can increase that principal amount, and you’ve got yourself some unbelievable returns.

My hope with these income reports is ultimately to present some transparency for you. By showing it doesn’t take much effort to earn and save, I may motivate you to chase one of your biggest dreams. Dreams may originally sound outlandish, but they all need to start somewhere, right? Without further ado, here is FLA’s April 2023 Side Income Report.



The best way to make money is to have various streams of revenue. The best way to protect yourself in the course of ill-fated events stripping you of some of your main sources of income is to diversify.

We have all heard the pragmatic advice of “Don’t put all of your eggs in one basket.” Well, put this theory into practice. The following is my best attempt to develop additional sources of income. Below are the six ways I attempted to make money from my side hustles in the month of April.



Stocks are my absolute favorite money-making assets. Your money can make money for you with the click of a ‘buy’ button! Sure, there are ups and downs in the stock market, but if you look historically at the S&P 500 Index or the Dow Jones Industrial Average, your investment generally grows over the long term. Remember, investing and gambling are not the same thing.

“If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes.”

-Warren Buffett, American Investor/Business Tycoon/Philanthropist/Chairman and CEO of Berkshire Hathaway

Investors and analysts contend that conducting research on which stock to buy may be active work, but it is a generally held credence that dividends are passive income.

What are dividends?

Simply, they are distribution of some of a company’s earnings to a class of its shareholders. In this case, you are the shareholder. Yes, I know it’s hard to believe, but the company you invest in will reward you with bonus money!

Let’s take a look at the aftermath of the stocks that paid out dividends this month:

April Side Income 2023 Stock Dividends

Which stocks have I invested in? I have a few individual stock picks, but the finance community knows this is a loser’s game. I mainly hold VTI, the Vanguard Total Stock Market Index Fund, which allows you to be diversified and capture 3,525 different stocks with a minimal expense ratio, or annual fee, of 0.03%. Index funds will often take you to the promised land in the long run.

Typically, you have 2 choices with dividends. You can either accept the dividend as cold hard cash or you can choose to reinvest the money back into the same stock automatically. It’s as simple as clicking the ‘yes’ button when prompted with the question on whether or not to re-invest dividends.

I strongly recommend you to reinvest your dividends and capital gains. Why? Well, look at this way: you didn’t have the earned dividend money to begin with. Do you really need it at this moment? Why not let your additional money grow even more? Open up an investment account and enjoy the magic of compounding interest by increasing your principal investment.

April Side Income – Stock Dividends / Interest Total: $0.01


In my free time, I participate in paid surveys. It’s one of my other sources of income. The surveys are mindless and allow you to temporarily escape from life’s struggles and reality. Oftentimes, you have a chance to play your part in society and provide meaningful feedback on hot topics that may be decided by top companies and government officials.

The 3 survey programs I use daily are:

  1. Prolific
  2. Pinecone Research
  3. YouGov

I strongly recommend any of these three survey websites because of the higher payouts. Our time on this planet is valuable. Always consider how much time you are trading for money.


Prolific seems to have the highest quantity of surveys available. Each survey also previews an hourly rate to the user. This significantly helps in determining if the survey is worth your time. I’ve seen them range from $3/hour all the way up to $30/hour, but on average are $8/hour.

Pinecone Research

Pinecone Research surveys always reward you with $3 for every survey. Since each survey is typically around 10 minutes long, the site has a pretty standard hourly rate of $12/hour. However, the frequency of surveys is much less than Prolific.


Finally, YouGov’s typical survey lasts for 10 minutes and will pay out $1.50, translating to an hourly rate of $6/hr. Even though it is the lowest payout, it still helps to have supplemental income. Again, always consider the balance between time and money.

YouGov is an eclectic group of the media, nonprofits and companies that congregate to find out what the world thinks. YouGov happens to be one of the most-quoted data sources in the US and across the world.

Prolific, Pinecone Research, and YouGov offer all kinds of rewards, but I normally recommend cash payout via PayPal. The transfer is usually instantaneous. Prolific does pay out in GBP, but the money is translated to USD when conducting a bank transfer in PayPal.

In fact, Prolific does not have a minimum payout, Pinecone’s minimum payout is $5, and YouGov’s minimum cash payout is $50, albeit YouGov offers the option of a $15 Amazon gift card.

April Side Income 2023 Survey Earnings

April 2023 Side Income Pinecone Research Cash Out

April Side Income 2023 Prolific Earnings

April Side Income 2023 Prolific Earnings Conversion

April Side Income – Surveys Total: $158.91


An additional passive income stream is selling your old goods or unused consumer products. Simply list your items with competitive pricing on Amazon and/or eBay, sit back, and let the buyers make you offers.

I often notice friends, family, and even co-workers constantly looking to throw out items that are still in perfectly good condition; it drives me nuts! Why not let someone bid on the product? Worst case will be that it doesn’t sell, and then you can throw out the item. No harm, no foul.

At the very least, donate your stuff. I typically enjoy donating old apparel to the Salvation Army and other charities. It always feels good to know your treasured clothing is not going to waste.

This month, there were no strangers that bought items of my personal inventory I was looking to discard. After fees and small shipping costs, I usually still walk away with a hefty profit.

April Side Income 2023 Seller Earnings

April Side Income – Selling Total: $0.00


As a blogger, I would like to keep the user experience as clean as possible. Therefore, I have chosen to keep all Google AdSense ads from my website. I am an avid reader of many other blogs, and I can truthfully admit it retracts from the reading experience. I am very proud of this decision and will continue with this route.

April Side Income – Google AdSense Revenue: $0.00


I published my first eBook titled How I Launched, Marketed, and Promoted a High-Traffic Blog in Under 15 Days last year. I only promoted the book as part of the launch, but several people found their way to the sales page. Again, this is a learning process to convert the views into actual sales. As Robert Kiyosaki alludes to in his book Rich Dad, Poor Dad, it’s all about being a best-selling author, not a best-writing author. There is a subtle yet significant difference.

April Side Income – eBook Blog Startup Manual Sales: $0.00


Who would’ve ever thought that spending money would actually earn you money? Well, with cash-back credit cards, now it’s certainly possible. With my Capital One Venture Card, I can now make this dream a reality.

Depending on the card you have, you’ll score 1-2 miles with every dollar you spend. Capital One Miles can be used in a variety of ways and are generally worth between half a cent and one cent apiece.

Earn 50,000 bonus miles (equivalent to $500) once you spend $3,000 on purchases within the first 3 months from account opening.

Although I’m still trying my best to limit opportunities to throw away those hard-earned paychecks, the positive result is that I earn more in cash back from the credit card rewards.

April Side Income 2023 Capital One Credit Card Cash Reward Cash Back

After looking at my monthly expense report, I saw that I earned 2,175 miles, which is equivalent to $21.75.

I now have a Chase Sapphire Preferred Credit Card.

Earn 80,000 bonus miles (equivalent to $1,000) once you spend $4,000 on purchases within the first 3 months from account opening.

June Side Income 2022 Chase Sapphire Credit Card Bonus

When you use points to redeem for cash, each point is worth $.01 (one cent), which means that 100 points equals $1 in redemption value. Each point you redeem for travel booked through Chase Ultimate Rewards is worth $.0125 (one and a quarter cents), which means that 100 points equals $1.25 in redemption value, and points are worth 25% more than if redeemed for cash. For example, 20,000 points are worth $250 when redeemed for travel purchases, or $200 when redeemed for cash. The cost of travel is based on the rates and fares available through the Ultimate Rewards website and travel center, and may not reflect all rates and fares that are available through other sales channels.

If you choose to use points and your Chase Sapphire Preferred credit card to pay for your purchase, each point will be worth $.0125, but your credit card will be charged the full remaining dollar amount.April Side Income 2023 Chase Sapphire Credit Card Cash Back

After this month, I was able to earn $39.71 this month from the Chase card.

April Side Income – Capital One & Chase Sapphire Preferred Credit Card Cash-Back Rewards – $61.46


Well, that’s it for this month’s side income report! Hope your 2023 is going well.

In 2022, I was able to max out my Roth IRA and 401k – I highly recommend you do the same in 2023 if you have the option! In January, I immediately transferred the maximum $6,500 limit from my taxable brokerage account to the tax-deferred Roth IRA for the 2023 year, with most of it invested in January. The sooner, the better since time in the market often beats timing the market.

Investing in 2023 is a great time because we were just in a bear market (down over 20% from the highs) in 2022 so stocks are on sale!

Thank you for taking the time to read through my latest April income report and thank you for contributing if you have previously purchased something through one of my affiliate links!

If you wish to support this site, but don’t have a need for any of FLA’s affiliate products, you could simply do your regular Amazon shopping through any of the links on this site that lead to Amazon.com. You won’t pay any extra and FLA will receive a small commission. Thanks so much if you do so!

That’s a wrap for this income report! I am looking forward to earning more money on the side in the future. Stay hustlin’, my friends!

April Side Income 2023 Summary

Total April Side Income: $220.38


How was your April 2023 side hustling? Let me know in the comments below.


Editorial Note – Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included within the post.

User Generated Content Disclosure – Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.