Credit Score?
Is 687 a good credit score. I only have a car note and Macy's Card. I was late once on my Macy's Bill but I am good standing all the way? It seems low to me?
Public Comments
- good, but not great , great will be 700 and exellent will be 750
- It's a pretty good score. Above 700 is considered great credit, and you are nearly there. As for being late, check your TRW. If it shows any late payments they will be there for the next two years. It's good practice to have some outstanding credit, like having a limit of $5000 and carrying a balance of $1200 to $2500. Having a zero balance doesn't show any credit activity and causes the score to drop. Also, never close credit cards unless they carry an annual fee. Closed credit also negatively affects your score. Mine is 712. :)
- It's probably low because there is not enough on your record for them to properly determine whether you can handle credit or not. If you feel you can handle the responsibility, try getting a credit card. Use it sparingly and pay it off in full every month. Otherwise, just keep doing what you're doing and it will slowly rise. Oh, and depending on how late you were on your Macy's bill, that one missed payment probably hasn't affected your score.
- national average is 650. It sounds to me like your credit is limited as odd as it sounds you need 5 or 6 tradlines that are open are used and are solid to have a better credit score. also 5 years in the bureaus make your credit score look more favorable. There are three major bureaus, check all of the and take the middle score this maybe your lowest sacore. Good luck.
- Truth be told, it's good if that's where you want it. A good fico is 800 and anything below it well, you can still do things. 680 is the qualifying score for lending institutions and investors. Let me break it down for you. Your Credit is like a book and the number is the Cover if you will. Your trade lines are the pages within it. That is what tells the story. As a creditor, I'm not really looking at the number because it doesn't show me your commitment. When you do a loan or borrow something using your credit. It goes through underwriting or risk management. They will look at your trade history. That is what matters. If your credit is what you say it is. Then you're good. If you want to buy a house with know money down, Then 680 won't do it. for a car with reasonable payments, maybe. It depends on what you want and your needs. I help a lot of people get to where you are and better using my complete financial solutions. I'm the Founder of Innovative Financial Solutions. I want to offer you my flagship service. www.fdidvd.com/davislaw. 78% of the information on credit reports are reported incorrectly. True Fact. 87% of the population will never do anything to fix there credit even though they are aware of it. A simple correction to simple error could raise your points 50-150.
