2006-07-02 13:13:18 · 11 answers · asked by NickynJessie H 4 in Business & Finance ➔ Credit
What is the best score?
If you have a 760 or above, consider that an “A” on your credit report. You will get the best credit rates. Above 700, a “B”. Between 600 and 700, a “C”. Below 600 is a big “D” or even an “F” and you will almost surely have to pay higher interest rates with a grade like that.
2006-07-02 13:16:29 · answer #1 · answered by Anonymous · 0⤊ 1⤋
FICO scores range from about 300 to 850 and exhibit a left-skewed distribution with a US median around 725.
In the US, 92% of the population has a credit score above 550. 2% have a credit score below 500. So with 515, you're unfortunately at the lower end of the scale.
A score above 720 is considered to be "good credit," and a score below 600 is considered to be poor. With low scores it difficult to get a credit card and lenders may charge you higher interest rates on loans.
You may want to look at secured credit cards if you want to build up your credit history or prepaid cards if you want the convenience of a credit card, but can't get one.
2006-07-03 02:19:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I do loans for a bank and that would be considered a very, very bad credit score. We would hesitate to do a loan with that score. Most institutions have a lowest score before they will even consider a small loan - and 515 is very much below our lowest score. Good luck. If you do get a loan, the interest rates will be outrageous.
2006-07-09 06:29:51 · answer #3 · answered by ginabgood1 5 · 0⤊ 0⤋
515 is not the end of the world but try to keep it above 500. There are still options if you are looking to buy a home. Good luck.
2006-07-03 05:53:20 · answer #4 · answered by unclejesse1 3 · 1⤊ 0⤋
Yeah, 515 is pretty bad. I did credit checks for a mortgage company one summer - I think you would have been denied.
2006-07-02 13:19:40 · answer #5 · answered by Speedy 3 · 0⤊ 0⤋
It depends on what you are trying to do. I am a mortgage broker and all we need is a 500 middle score to get you approved for a zero down loan. For a loan from a bank or credit union then they are looking for 640 and higher.
2006-07-02 14:25:13 · answer #6 · answered by ladybug 1 · 0⤊ 0⤋
I think that is a high number if that is how many times you don't pay your bills or that could be the balance of what you still owe ! honestly I don't know I am just wining it !
2006-07-02 13:45:24 · answer #7 · answered by ChiefNickNameadvancer 3 · 0⤊ 0⤋
Yes.
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2006-07-02 13:56:24 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Sounds really interested
2016-07-27 03:41:18 · answer #9 · answered by ? 4 · 0⤊ 0⤋
thank you for the answers everyone <3
2016-08-23 01:03:31 · answer #10 · answered by Anonymous · 0⤊ 0⤋