2006-06-26 11:54:29 · 8 answers · asked by §†êþhåñïê»-(¯`v´¯)-» 3 in Business & Finance ➔ Credit
NO - NOT AT ALL - LENDERS WILL LOVE YOU - 500 IS THE LOWEST A LENDER WILL WORK WITH (ON A HOME MORTGAGE) AND THAT IS NOT 100 FINANCING - YOU COULD GET 100 PERCENT FINANCING ON A HOME / AUTO, ETC. THE HIGHEST i HAVE SEEN IS 805 AND THAT IS AWSOME, THE AVERAGE IS 580 - 720 - THERE ARE NOT MANY OVER 720+ SO YOU ARE DOING GOOD - LOOKS LIKE YOU PAY YOUR BILLS ON TIME, AND KNOW HOW TO MANAGE YOUR MONEY - CONGRATULATIONS.
2006-06-26 13:33:27 · answer #1 · answered by W. E 5 · 1⤊ 0⤋
It's not bad. It's not good either. There are a lot people with worse records, but you'll have trouble getting the best loan offers.
If you do nothing else, pay at least your minimum amounts every month and on time. Your score will start climbing. If you can reduce any credit card debt you have, even by a little, that helps too.
If you are getting those zero balance transfer offers, you might want to take one. By getting another card, you take a small temporary hit on your credit score, but it'll help your debt ratio (balances vs total credit available), which helps increase your score. After a year, by paying on time, reducing debt and increasing your available credit, you'll be sitting pretty.
2006-06-26 19:04:06 · answer #2 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
As mentioned at many sites, the national average is 678 so you are just slightly under that. I personally believe that the national average is much much lower.
Your score is OK but you need to raise it to 700. Creditors will truly love you and you will be able to get loans and/or credit cards without much hassle and at the lowest possible rates..
2006-06-27 14:22:09 · answer #3 · answered by thecharmedfive 2 · 0⤊ 0⤋
The ads on the Yahoo! home page always say that the "average" US credit score is 678. If that is true, then you are just slightly below average.
2006-06-26 19:33:59 · answer #4 · answered by broncoguy75048 2 · 0⤊ 0⤋
650 is the botom end of A paper, any thing less is sub prime. from a lenders stand point.
2006-06-28 07:04:19 · answer #5 · answered by cafe_blue_note 3 · 0⤊ 0⤋
Itis very low. Yes
2006-06-26 19:00:13 · answer #6 · answered by albertronaldbrink 2 · 0⤊ 0⤋
about average in the USA
2006-06-26 19:54:22 · answer #7 · answered by baseballjedi 3 · 0⤊ 0⤋
yep
2006-06-26 18:57:23 · answer #8 · answered by Julie F 2 · 0⤊ 0⤋