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HomeCredit ForumCredit repair

what is considered a decent credit score or rating

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docker1



Joined: 11 Oct 2008
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Posts: 2



41 Magic Points
Subject: what is considered a decent credit score or rating
 
 Posted on Sat Oct 11, 2008 5:02 pm  
what is considered adecent credit score
 
docker1



Joined: 11 Oct 2008
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41 Magic Points
Subject: credit score
 
 Posted on Sat Oct 11, 2008 5:04 pm  
what is considered a decent credit score
 
Marc Williams



Joined: 09 Jul 2008
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313 Magic Points
Subject: 700 and more
 
 Posted on Mon Oct 13, 2008 2:43 am  
Hi, a decent credit score is 700 or more, but between 600 and 700 you can still get approved. If you have a score lower than 700, you should repair your credit or hire a Credit Repair company.
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Marc Williams
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carol

carol

Joined: 27 Jun 2006
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10920 Magic Points
 
 Posted on Mon Oct 13, 2008 5:39 am  
A score which will help you to get credit at the lowest interest rate possible is a decent credit score. Normally, a score above 700 is a decent score because you get the best deals on loans with such a score. If you have a score ranging between 650 to 700, it is considered an average credit score but if you have a score below 600, it is a bad score and it is very difficult to get a loan at an affordable rate of interest.
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anthony

anthony

Joined: 31 Jul 2006
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12637 Magic Points
 
 Posted on Mon Oct 13, 2008 5:46 am  
Yes, but the best credit score is when you have a credit score between 720 to 850. A score between 700 to 719 may be considered favorable for a loan while you may find problem in getting a loan with a credit score below 650. However, you should note, that if you have a credit score below 700, you should always start improving your score. The best way to do so is to make payments with your existing cards and repaying them on time. In this way you can build up a good payment history which will help you to improve your score. However, you should not go for a new line of credit, because applying for a new line of credit will bring a hard inquiry in your credit report which may lower your score instead of improving it.
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Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
You can also visit my blog
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cs0khunter82



Joined: 14 Oct 2008
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258 Magic Points
Subject: Decent Credit Score
 
 Posted on Tue Oct 14, 2008 5:32 am  
It seems like anything over 700 will get you a lot of credit card applications . . .
 
Mary

Mary

Joined: 06 Jul 2006
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Posts: 348



9244 Magic Points
 
 Posted on Wed Oct 15, 2008 12:22 pm  
Hi cs0khunter8
With 700 and above score, not only you can apply for unsecured credit cards but also you can avail loans at attractive rates of interest. However, you should be careful while applying for a new line of credit because there will be a hard inquiry against each of your new credit card application which will lower your credit score. Another thing is that, you should not go for more and more credit cards because these cc will increase your incentive to spend and if you cannot keep track of your spending, you may end up in a debt circle.
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anthony

anthony

Joined: 31 Jul 2006
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12637 Magic Points
 
 Posted on Wed Oct 15, 2008 1:02 pm  
I agree with Mary on this point. Even if you have a good credit score, you should not misuse it by applying for multiple credit cards because such applications has two fold negative effects. Firstly, each application of new credit will reflect as an hard inquiry in your credit report and secondly if you cannot repay back the debts you avail on your credit card on time, you will be delinquent and this will again reflect in your credit report as a negative item.
_________________
Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
You can also visit my blog
http://financewatchonline.blogspot.com
 
RERyan
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Subject: Test, just a test
 
 Posted on Thu Oct 16, 2008 2:33 pm  
Hello. And Bye.
 
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