Credit Scores
- smcc
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Replied by smcc on topic Re: Credit Scores
Even when this downturn ends banks still want to make a profit and they will still offer credit to new customers who have very good scores as you have mentioned, but for those who weather this storm, who make more than the minimum payment requirement, who make multiple payments within a billing cycle who have credit/debt ratio between 1 and 5% will still be considered/upgraded to better cards.
- qchau
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Replied by qchau on topic 700 scores
- smcc
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Replied by smcc on topic Re: Credit Scores
- qchau
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Replied by qchau on topic Scores Banks Used
- Meya
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Replied by Meya on topic Re: Credit Scores
- qchau
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Replied by qchau on topic Re: Credit Scores
There is a catch to that. Every credit monitoring service uses a different rating against your scores. For example, Truecredit may say that 650 is good, while myfico may say it is fair. Mycreditkeeper will say that 650 is fair, while Experian may say it is good. So, can you kinda of get a glimpse of how it works? You will run yourself crazy figuring where you stand if you wanted a true answer
re: meya,
as i know, 620 to 659 is FAIR - 660 up to 700 is GOOD - 701 to 750 is VERY GOOD - 751 or higher is EXCELLENT - this was used for year 2008 or before that time but NOT ANYMORE - now (year 2009), some banks expected: 720 is considered as GOOD, 750 is VERY GOOD & 750 or higher is EXCELLENT
- qchau
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Replied by qchau on topic Re: Credit Scores
I don't think I'll be at 800 anytime soon but I'm shooting for 750 by the end of the year.
re: hjm331,
i don't think scores going up faster than going down (usually takes up to 2 years to get 50 points - based on factors: collection, late payment, etc) - if you missed 1 payment, you can lost 20 points easily and take at least 3 months up to 1 year to get it back (again, based for factors)-
it took me 2 years to improved 60 points from 640 and i am about 700 now (i worked very hard on disputes, spent a lot of money for scores monitoring program, etc) - anyway, you have very good scores at this time, and hope that you will get whatever you needed one day soon.
- qchau
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Replied by qchau on topic Re: Credit Card Questions
my currenty experian is 729, anyone think I will have an issue applying for a credit card?
re: nawnawson,
if this is your lowest scores. answer is yes. but this is your highest scores and other 2 scores are lower than 680 - answer is no.
in June 2009, i have 719, 709 & 698 but got decline for visa card, discover, american express as well. good luck
- qchau
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Replied by qchau on topic Re: Help!
im broke.. im looking for the cheapest way possible to get my credit score.. i been getting a report for free... but i realize i need my score now...
Umm cheapest site...
i dont want to pay Myfico 50$$$
is myfreecreditreport.com a legit website????
or if i was to pay to get ti from one of the major 3 credit agencies which one is the best one?
scores fees (1 time order)
equifax $9 (fico score)
transunion $10 or more (depend what States)
experian $10
totals for 3 scores: $30 but not more than $40
good luck
- qchau
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Replied by qchau on topic Re: Credit Scores
I don't think I'll be at 800 anytime soon but I'm shooting for 750 by the end of the year.
re: hjm331,
last June, some people who working for big banks told me: 750 is NO LONGER considered as: EXCELLENT SCORES (example: 5/3 required 720 to qualify for 5/3 visa card which their considered as "good credit" - 750 but less than 800 is VERY GOOD and 800 or above is EXCELLENT CREDIT). however, anytime back 2008 or before that time , 750 is considered as EXCELLENT CREDIT-anyway, economy went down really bad. banks really take this seriously and uses scores, and some other factors to make their decision to approval or decline for credit cards
- qchau
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Replied by qchau on topic Re: Credit Scores
I finally decided today to sign up for Creditkeeper. I decided I wanted to keep a check on my credit report. Does anyone know if the credit scores from those credit reports are the real credit scores? Here are my scores. All 3 had on my reports that I have excellent credit.
re: terry
are u sure these are EXCELLENT SCORES - some banks had changed their guidelines this year and expecting 700 as good, 750 is very good, "800 or above is excellent" - my lowest score is 700 but got decline for 5/3 bank visa card, discover, amex, bank of america visa card last June 2009 but i got approved for american dream master card same month - i think, you have very good scores but does not mean that you can get whatever credit cards you like because there are some credit cards required 800 or above to qualify (example:simmons first visa platinum, america express platinum/silver color, black card/visa, etc) - you may need to double check with creditkeeper or banks before you decide which cards works for your scores -
- THOMAS1
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Replied by THOMAS1 on topic Re: Credit Scores
- Meya
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Replied by Meya on topic Re: Credit Scores
- Terry684
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Replied by Terry684 on topic Re: Credit Scores
Experian-749
Equifax-763
Transunion-760
- Meya
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