SevenBagels Posted March 13, 2005 Report Posted March 13, 2005 I am wondering... what is considered a good score?To have an excellent score, does it need to be 850?
SevenBagels Posted March 13, 2005 Author Report Posted March 13, 2005 I am wondering... what is considered a good score?To have an excellent score, does it need to be 850?
score booster Posted March 13, 2005 Report Posted March 13, 2005 Hardly!!! If lenders considered only 850 excellent, they would make no money on loans. Probably one in a thousand people has an 850 (if that). 650 and up is considered acceptable by most lenders, 680 to 720 is good. This will get you decent rates. Anything over 720 is more or less A+ credit. All banks have different risk assessments. To get the best credit card offers with high limits you've usually got to have an excellent score, whereas to obtain an auto loan or mortgage, a mediocre score is usually ok.
score booster Posted March 13, 2005 Report Posted March 13, 2005 Hardly!!! If lenders considered only 850 excellent, they would make no money on loans. Probably one in a thousand people has an 850 (if that). 650 and up is considered acceptable by most lenders, 680 to 720 is good. This will get you decent rates. Anything over 720 is more or less A+ credit. All banks have different risk assessments. To get the best credit card offers with high limits you've usually got to have an excellent score, whereas to obtain an auto loan or mortgage, a mediocre score is usually ok.
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