Is my Credit Score good??
I recently checked my credit score on Experian and it said that it is 722 on a scale of 501-990 and then I estimated my credit score on MyFICO and is says that my score ranges from 705-755. Are these GOOD?? Average? Bad? Are there different ways to score credit?
Public Comments
- yea its very good i shld say...u can get a house with no down payment or less down payment................they wer all same..they all take a look at ur credit history dats all....hey advice dont always calculate ur credit score as it will lower ur FICO do it or check it atleast every 6months..
- Actually, it's not too bad. The average score has dropped considerably over the past couple years with foreclosures and people spending beyond their means. Congrats, go buy a new car!
- average score 675, sounds like you are on a roll,keep up the good work
- I'm certainly no expert in this field, but I think that something above a "700" isn't anything to cry and beat your breast about. It could be much worse--I have to pre-pay the ice cream truck driver when ordering a popsicle...LOL. :)
- 0 - no credit 350-616 - bad credit 620-659 - fair credit 660-749 - good credit then excellent You have good credit and that is why you can choose credit card with better options! Really you have great choice! http://acclaimdomains.com/Good-Credit-Cards-1561804-page.php Your aim is to fix your good credit! Pay your bills on time it is the best way.
- The first one is a new score it's called Vantage. The FICO from 705-755 is what lenders go by. While 705-755 is a very good score, score is not everything. Your score is made up of the following; 1. Payment history 35% 2. Time in bureau 15% 3. New credit 10% 4. Type of credit used 10% 5. Debt to income ratio 30% As you can see 1,2 & 5 are the most important as far as score is concerned. The problem with the way score works is that I see people every week with scores over 700 that are made up of nothing but 1 credit card with a $500.00 limit paid 15-times and a couple of student loans. While this mix of credit produces a great score, there is nothing there to actually qualify the person for a real loan.
- Yes they are very good. Your middle score of the 3 is your actual credit score as viewed by lenders Here is a general list of scores and how they are. Below 500--- Patheic and horrendous. 500-550--Terrible, but you may still have hope. 550-600. Bad, although with a little improvement you could be doing fine. This is the bottom range to get approved for loans. 600-630. Below average, but not that bad. you can normally get approved for loans at this range. 630-680. Average. You may get good or bad rates in this level. 680-720. Abover average. You will get good rates , but possibly not the best. 720-800. Very good. Most banks will give you their best rates. Above 800--- Not sure how anyone gets to this level.
- MORE THAN GOOD, U CAN GET ALMOST ANYTHING U WNAT.. AND KEEP IT UP
- You're off to a good start. Still 722 is about a C+ and you could get much better still.. I've got 10 steps you can use to build your credit score. I raised mine to well over 700 points fro 500 using these steps over a year -- : # Know and Track Your Credit Score (and be sure to sign up for the 30-day free trial of your credit score monitoring listed on the article below. It really helped my get my score up.) # Never Miss a Payment, Starting Today # Never use more than 20% of your Available Credit # Keep Credit Cards that Have No Annual Fees Open For as Long as Possible # Extend Your Credit Limit on Cards You Already Have before You Get New Ones # Get Credit Cards that Have CashBack Rewards to Contribute to your Balance # Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit- # If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan # Take out a Small Personal Loan and Repay it Over a Year # Ask Someone With Good Credit if They will Account Shadow you Read the full article here, it gives you an overview of credit scores, and the 10 steps in detail on page 2 .. Good luck! http://millionster.com/articles/debt/increase-fico-credit-score/
