A good credit score ain’t what it used to be

Your credit score is more important than ever right now, the experts say.

One result of the credit crunch is that banks and credit-card issuers have changed their view of who among us constitutes a good credit risk .

Here’s an excerpt from a piece at Kiplinger.com:

That’s especially true now because the subprime crunch has spread to other types of credit. For instance, banks have been forced to write off record levels of credit-card debt, so they’re requiring borrowers to have higher credit scores. A year ago, a score of 720 had lenders lining up for your business. Today, a score of 740 or 750 would get you an account but might not qualify you for the lowest rates , says Bill Hardekopf of LowCards.com.

The Kiplinger story offers five ways to improve your credit score, some of which is basic: pay your bills on time, reduce your overall debt, etc. Read the story here .

Anybody out there tried to get credit recently? Was your experience different this time around, compared to the past?