2006-07-11 09:00:32 · 18 answers · asked by Tom F 1 in Business & Finance ➔ Credit
It's Fair. You can get a house but will still have mid interest rates.
2006-07-11 09:02:31 · answer #1 · answered by Gia S 3 · 2⤊ 0⤋
Is 630 A Bad Credit Score
2016-11-13 03:46:02 · answer #2 · answered by sanderson 4 · 0⤊ 0⤋
It really depends of where you are at. Did you know that the average FICO score is different here in California than for example in Miami? BUT generally speaking 630 is a little too low to get a good deal on a mortgage loan. It might be good enough for a credit card or other type of loan. If you are looking for a mortgage loan I suggest you work on your score a little more. The closer you get it to 700 the better. Above 700 even better. If you are planning on getting a mortgage loan witht your current score you will not get a very good interest rate. It will be a little high but you could get a much better % if you raise your credit.
Good luck
2006-07-11 09:36:32 · answer #3 · answered by SCCRealEstateUNCENSORED.com 3 · 1⤊ 0⤋
Thank you everyone, I hired Lexington Law to fix credit score, I had bankruptcy back 7 years ago and a few late payments on car and credit cards... I went from 590 to 630 after a few removals on my credit with them so I am optomistic that in a few months I will reach 700. I only have had them for 2 months and they got 5 negative removals already. I will aim for at least 720 as mentioned here. Thank you
2015-10-10 04:21:58 · answer #4 · answered by Erika Dos Reis 1 · 0⤊ 0⤋
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It's pretty good. The total number possible is 800. You must keep paying bills on time (including parking tickets!). If you get more credit (like more credit cards or line of credit form a bank or home loan) and pay on time, that will increase your score.
2016-04-01 06:22:40 · answer #5 · answered by ? 4 · 0⤊ 0⤋
As the other respondents have said, it is fair. To be good, you should be 720 or better. You can get their by always paying on time, keeping you account balances at 30% of you limit or lower, keep at least 5 trade lines open (Mortgage, Car payment, credit cards).
When you see a commercial on TV that makes reference to a "well-qualified borrower", they are referring to the 720's and up. That is where you want to be.
2006-07-11 10:08:38 · answer #6 · answered by Craig V 1 · 1⤊ 0⤋
In the credit score world..that's a C
2006-07-11 09:52:50 · answer #7 · answered by Anonymous · 1⤊ 0⤋
A little below average, but there is more to credit then just score. I have seen people with bankrupcy have 750 scores. And people with no derogitory credit have less then 600.
I hope that helps.
2006-07-11 09:04:56 · answer #8 · answered by Anonymous · 3⤊ 0⤋
Look at it this way - when lenders see a '5' as in the '500's' - they run for the hills. Think of how close your score is to that. 630 is a couple of hits away from being in the 500's. I would say its LOW average.
2006-07-11 15:39:47 · answer #9 · answered by juliaks 2 · 2⤊ 3⤋
Was on Y Answers for something unrelated, but this topic was trending on the sidebar...
2016-09-18 21:22:59 · answer #10 · answered by ? 2 · 0⤊ 0⤋