Frequently Asked Questions(FAQ)

Is fair credit better than good credit?

No, fair credit is not better than good credit. In fact, fair credit is one tier below good credit. If you have fair credit, you should work on improving your credit score so you can have good credit and then great and eventually an excellent credit score. 

Does checking your own credit score affect it?

Checking your own credit score should be done at least every few months. You should monitor your score for errors and make sure that all of your trade lines are being reported correctly. It doesn’t negatively affect your credit score when you check it. However, if a potential creditor checks it, then it can affect your score depending on whether it’s a soft or a hard pull. 

How fast can you build credit and what should you focus on?

How fast you can build credit depends on how dedicated you are to building your credit, the time you have to devote to it, and your current credit score and history. If you have no credit history, it will take longer to build it than someone who already has a few years of credit history. 

You should focus on the basics first: making on time payments, keeping your credit utilization ratio below 25%, paying off your balances in full each month, and monitoring your credit report. 

Is a fair credit score average?

A fair credit score is considered to be below average. Lenders will look at borrowers with fair credit scores as sub prime, meaning they aren’t ideal candidates for loans and they have some risks associated with them. The average credit score in the United States was 714 in 2022. This score falls in the good range.  

About the Authors

Allison Bethell

Written by: Allison Bethell

Real Estate Expert

Allison Bethell is a content writer, real estate investor, small business owner, and consultant. She has a B.A. from Villanova University in Sociology and Business. She also holds several graduate certificates in early childhood development, screenwriting, and contract law.

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