Is my score good enough?

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Sven

Joined: 22 Jun 2009
Sven's page
Posts: 63

1596 Magic Points

Subject: Is my score good enough?

Tue Aug 11, 2009 7:47 pm

I don't think it's the right section of the forum, but I don't know where else to ask this. I have to take out a student loan. I recently got rid of a bad entry on my credit report. I checked my Fico score today and it's 750 with Transunion and 718 with Equifax.

myfico.com says that (depending on the type of loan) I should qualify for the best or second best interest rate.

Can I rely on this estimate? I found some student loans for as low as 4.16%. I guess if I got it for about 5% it wouldn't be a bad deal.

Any input?

carol

Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California

29592 Magic Points

Wed Aug 12, 2009 10:11 am

750 is a decent score and you should be able to get a good loan with low interest. But, just so that you know, there are student loans available through a federal government program no matter what your score might be. You could try out the Free Application for Federal Student Aid. You could visit "www.fafsa.ed.gov" and register.
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Sven

Joined: 22 Jun 2009
Sven's page
Posts: 63

1596 Magic Points

Wed Aug 12, 2009 4:19 pm

Thanks. There are so many factors that lower my score that actually do not reflect my payment history... 4 instead of 3 accounts carrying a balance etc.

Does experian not have a FICO score? I was only able to get it from Transunion and Equifax.

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