Whats a good credit score number??

[Specop 007]

Is a 478 good? Whats the range?

 

[PanzerIV]

I don't know much about them but I do know 478 is awful. 700 and up I believe is considered quite good.

 

[Woogoat]

350-850 (varies a bit)

478 is a pretty bad score.

 

[royaldank]

720 is considered GOOD. Anything around 700 and up is fairly decent. 478 is awful. Have you defaulted on a couple CCs, declared bankruptcy, or had several collectors calling your place?

 

[conjur]

478 is about as bad as it gets.

720 is considered average (although I seriously doubt the real average is near that...probably more like 680)

Also, where did you get the 478? If it wasn't from http://www.myfico.com then it's a completely meaningless score.

 

[Ilmater]

Originally posted by: conjur
If it wasn't from http://www.myfico.com then it's a completely meaningless score.

WTF EVER! Do not listen to this guy. In order to get an accurate credit score, you need to get it from one of the three credit agencies: Equifax, Experian, or Trans Union. Better yet, go to Equifax and get their 3-in-1 report to make sure that someone doesn't have a report that the other two don't have.

 

[Specop 007]

Actually I heard some guy on the radio talking about the free credit reports available. He said his was either a 478 or 578, he couldnt remember.
I dont know what mine is. I can tell you its BAD though. Which ironically enough has worked out very well for me...
I cant get a loan or a credit card. And yet, I have NO debt beyond my student loans and home mortgage. So, whats my end result?
Cars are paid for, house and student loans are being paid, money in the bank, money in the savings and money in the stock account. No credit card debts whatsoever.
In an interesting turn of fate, running my credit into the ground in the late 90's and beginning of 00 has ended up helping me by keeping me from running up alot of debt on CC's and cars.

 

[Vortex22]

Originally posted by: Ilmater

Originally posted by: conjur
If it wasn't from http://www.myfico.com then it's a completely meaningless score.

WTF EVER! Do not listen to this guy. In order to get an accurate credit score, you need to get it from one of the three credit agencies: Equifax, Experian, or Trans Union. Better yet, go to Equifax and get their 3-in-1 report to make sure that someone doesn't have a report that the other two don't have.

...
FICO is a combination of those.

 

[VictorLazlo]

myfico.com is legit, according to Suze Orman.

 

[conjur]

Originally posted by: Ilmater

Originally posted by: conjur
If it wasn't from http://www.myfico.com then it's a completely meaningless score.

WTF EVER! Do not listen to this guy. In order to get an accurate credit score, you need to get it from one of the three credit agencies: Equifax, Experian, or Trans Union. Better yet, go to Equifax and get their 3-in-1 report to make sure that someone doesn't have a report that the other two don't have.

Say what??

You're full of sh*t!

The scores from the 3 individual agencies have nothing to do with the Fair Isaac score. Nothing. They are called FAKOs because they have no direct correlation to the true FICO score.

What's a FICO Score?

It's the Only Score You Need to Know

FICO scores are your credit rating. Most lenders base approval on them. You have three FICO scores, one for each credit bureau, and you can only get all three from myFICO.

FICO DeluxeAll 3 scores

 

[TravisT]

by "defaulting" on a couple of credit cards, does that mean missing payments or just making minimal payments? I got myself into a bit of debt but getting ready to pay it off with tax money. I am currently paying the least amount I have to at the moment. Is this hurting my credit?

 

[Gulzakar]

is 765 ok?

I got that score from the aforementioned website.

 

[Kipper]

Originally posted by: Gulzakar
is 765 ok?

I got that score from the aforementioned website.

:thumbsup:

 

[conjur]

Originally posted by: Gulzakar
is 765 ok?

I got that score from the aforementioned website.

Ayup. The median is 723 (according to MyFICO), meaning half are above and half are below (but I'd be willing the bet the average is in the mid- to upper-600s. But, you also can't just go by score alone. You could be sitting at 720 or higher and have some recent collections or chargeoffs or even have a BK still showing which may result in being denied credit.

 

[kranky]

Originally posted by: TravisT
by "defaulting" on a couple of credit cards, does that mean missing payments or just making minimal payments? I got myself into a bit of debt but getting ready to pay it off with tax money. I am currently paying the least amount I have to at the moment. Is this hurting my credit?

Defaulting is not making payments on time. If you are paying the minimum on time every month, that's fine.

 

[edro]

If you have a Providian credit card, you get your FICO score for free (updated every few months). The Paypal credit card is a Providian card, which I have. It has 23% interest, so I don't use it, but I keep my account open for the free FICO scores


w000t, just checked mine again:
Your FICO credit score is: 742
Updated on: 02/01/2005
Provided by: TransUnion

 

[dullard]

Originally posted by: kranky
Defaulting is not making payments on time. If you are paying the minimum on time every month, that's fine.

That is fine for your credit score, but your wallet will be hurting badly for paying CC interest when cheaper loans are available.

 

[nakedfrog]

Originally posted by: Specop 007
Actually I heard some guy on the radio talking about the free credit reports available. He said his was either a 478 or 578, he couldnt remember.

AnnualCreditReport seems to be the site set up for compliance with the FACT act, and entitles you to one free credit report per year. It takes effect in different parts of the country on different dates. It's effective today in the midwest, so I just pulled two of mine. I'm going to wait a few months to pull the third (I'm trying to clean mine up).
I don't know where you can get your credit score for free though, they all want to seem to charge at least $6.95 for it.

 

[conjur]

Originally posted by: edro13
If you have a Providian credit card, you get your FICO score for free (updated every few months). The Paypal credit card is a Providian card, which I have. It has 23% interest, so I don't use it, but I keep my account open for the free FICO scores

True.

Also, you can get your Equifax score (but not the full report) as it changes for about $5/mo. via MyFICO (that's with the discount code applied)

 

[raystorm]

Originally posted by: edro13
If you have a Providian credit card, you get your FICO score for free (updated every few months). The Paypal credit card is a Providian card, which I have. It has 23% interest, so I don't use it, but I keep my account open for the free FICO scores

Yea I also have a providian card. The FICO score they give you is from Trans Union. It may not be from all 3 but at least its useful to see.

Do the FICO scores from all 3 credit unions differ much? Meaning if one is like 730 could another be under 700? I never checked with all 3 before and just go by the one I see in my providian account.

 

[royaldank]

Originally posted by: raystorm

Originally posted by: edro13
If you have a Providian credit card, you get your FICO score for free (updated every few months). The Paypal credit card is a Providian card, which I have. It has 23% interest, so I don't use it, but I keep my account open for the free FICO scores

Yea I also have a providian card. The FICO score they give you is from Trans Union. It may not be from all 3 but at least its useful to see.

Do the FICO scores from all 3 credit unions differ much? Meaning if one is like 730 could another be under 700? I never checked with all 3 before and just go by the one I see in my providian account.

Yes, it's fairly common for the three scores to be 20-30 points different (if not more).

 

[Kenazo]

Mine is around 710 and my wife's is 756. We're doing fine.

 

[arcenite]

Mine is 671, but I am 19 and a college student so I don't think that's terrible

 

[JEDI]

Originally posted by: Gulzakar
is 765 ok?

I got that score from the aforementioned website.

765 is great.

i;ve read only 2 banks require 785+ to get their BEST loan rate... First union (now wachovia) and wells fargo.

all other banks have ~720 requirement for best rate.

850 is FICO's max. if it didn't come from fico, then it's a FAKO score and just an estimate of what they think your score is.

everyone uses fico to determine your eligibility for loans.

 

[Gulzakar]

my car loan must have helped, two years ago I had my mother co-sign a car loan (5 year loan).