Improving your credit score does require some patience and perseverance — a significant increase can take 12 months or more, according to experts. But it’s worth the effort. A jump of even 100 points can translate into thousands of dollars in interest saved on a loan or mortgage. If you applied for a 30-year mortgage loan for $200,000, for example, the difference between a FICO score of 650, which is considered good, and one of 750, which is great, could be nearly $34,000 in savings, thanks to the lower interest rate the higher score could get you. FICO scores can range up to 850, though one of 760 or more will often qualify you for the best rates.
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