The average credit score in the U.S. is 696 based on the VantageScore model and 714 based on the FICO score model. That means the average American has a good credit score.

Credit score averages vary based on geography and demographics, however. For example, while the average credit score in the North hovers around 727, it’s about 30 points higher in all other parts of the country. Additionally, individuals in their 20’s have an average credit score of 679, while people in their 50’s have an average credit score more than 60 points higher.

Credit-report errors are all too common. The Federal Trade Commission estimates that roughly one in four consumers have an inaccurate credit report. And it can take only one error for a lender, landlord or other credit checker to decide you can’t be trusted to meet your financial obligations.

That is why it’s important to review your credit report on a regular basis and dispute any errors. You can check your latest TransUnion credit report for free on WalletHub. And if you find an error, you can file a dispute with TransUnion directly from your WalletHub account.

A good credit score is a credit score of 700 to 749, based on the standard 300-to-850 scale. More than 14% of people have a good credit score, by that definition. A score of 750 or above is considered excellent credit, while scores from 640 to 699 are fair. If you’re curious about whether or not you have good credit, you can check your latest credit score for free on WalletHub.

See If You Have a Good Credit Score – 100% Free

You can prevent identity theft by using strong passwords, locking your mailbox, wiping electronic devices clean before getting rid of them, and monitoring your credit reports and financial accounts. While it may not be possible to eliminate the risk of identity theft entirely, taking these measures can help.

In order to build a good credit score, you must first establish credit. Establishing credit means beginning your credit history by obtaining a loan or line of credit. That’s all you need to get your first credit report and score. And it’s the first step toward one day qualifying for a decent mortgage, car loan, etc.

So if you’ve had a loan or credit card — or your name has been associated with one — for at least a month, your credit should already be established. You can see for yourself by checking your latest credit score and report for free on WalletHub.

Building credit from scratch doesn’t have to be difficult. The best way to build credit is to open a credit card, preferably one with no annual fee, and use it responsibly. That means paying your bill on time every month or simply locking it in a drawer. Just having an open line of credit that is in good standing will help you build credit.

But a clean financial slate is a double-edged sword. You could shed months, or even years, off your credit-building timeline and save thousands of dollars if you make the right moves. Or you could quickly find yourself with bad credit if you act irresponsibly. Taking the following steps will help you keep your credit standing headed in the right direction.

Using a credit card responsibly is the best way to build credit. After all, credit cards are easy to get, they don’t require you to incur debt, and they report information to the major credit bureaus on a monthly basis.

But a credit card is not the only tool for the job. And that’s important because many people are understandably hesitant to use credit, for fear that they will overspend and rack up debts they cannot afford to repay.

“Pay for delete” can mean two things: a shady “credit repair” company promising to remove negative credit-report information for a fee, or a debt collector promising favorable credit-report treatment in exchange for prompt payment of the balance due, plus a fee. Neither scenario, especially the first, is aboveboard. There’s no amount you can pay — other than what you owe, which helps only to a certain extent — to improve your credit score. So, consider “pay for delete” to be more of a trick than a treat.

Below, we’ll take a closer look at both types of “pay for delete” schemes as well as legitimate alternatives.

Negative information can stay on your credit report for 7 to 10 years, depending on the type of information. Positive information can stay on your credit report for 10 years after a loan or credit account is closed, or indefinitely if the account is still open.

Knowing how long negative information such as late payments, delinquent or defaulted accounts, and other unfulfilled financial obligations will stay on your credit report is particularly important because such records can do a lot of damage to your credit score and your finances overall. The following table will get you started with a general sense of the shelf life for different types of credit report information.

There are three versions of every credit score because credit scores are calculated using the contents of people’s credit reports, and we each have three credit reports – one from each of the three major credit bureaus: Equifax, Experian and TransUnion. A common assumption is that since there are three credit bureaus, each individual must have three credit scores. But that implies there’s just one type of credit score, which is far from the truth. There are many different credit-scoring models and thus many different types of credit scores. You can find more details below.