I have never missed a payment on any of my credit cards but i have some medical bills that went to collections. With this score would i be able to get a car or a house some day. How does this compare with other peoples scores?
2006-09-12 05:17:14 · 21 answers · asked by hello there... 3 in Business & Finance ➔ Credit
Medical bills are the pits. That's what's got my as* in a vice and I can't pay them b/c they are soo freaking huge!
Screw medical treatment - I'm just taking aspirin from now on!
2006-09-12 05:19:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Is 627 A Good Credit Score
2016-11-10 09:19:47 · answer #2 · answered by ? 4 · 0⤊ 0⤋
627 is a fair credit score. If you want to get a house you can apply for a FHA loan, these dont consider medical bills when they are looking at your score so this is the bast way for you to go as long as all of your collections are medical. Yes you will also be able to get a car as long as all of your more current stuff is paid on time. You also have the right to put an explanation on your credit report for those collection accounts. You can explain the circumstances that they were not paid. Things like an illness, job loss, divorce in the explanation will help a creditor understand how that could happen.
2006-09-12 05:22:22 · answer #3 · answered by brendagho 4 · 0⤊ 0⤋
I'm certain that you must find all financial solution at= financial-care.info-
RE My credit score is 627...?
I have never missed a payment on any of my credit cards but i have some medical bills that went to collections. With this score would i be able to get a car or a house some day. How ...show more
2014-09-04 00:48:19 · answer #4 · answered by Anonymous · 0⤊ 2⤋
627 is considered just barely above poor, to more of the fair range.
At 627 you WOULD be able to get a 0 down home loan but the rates would not be good and you might get a 2 year prepayment penalty. You could probably get a car loan withoout TOO much trouble, but probably not throught he major lenders like FORD or GMAC that give bonuses and such.
Work on paying off those debts and keep up on your CC's-- and keep your CC's under 50% of their limit.
2006-09-12 06:03:30 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Credit is such a headache. You will always be able to buy a car or house with that credit score, but you will just pay more in interest. That score is considered "fair". You should really start to pay those medical bills that went to collections. Then, as long as all your credit history is in good standing and it stays that way-your credit score will gradually get higher. It takes a lot of time to get better and any ONE bill that goes bad can affect your score.
2006-09-12 05:25:21 · answer #6 · answered by lady K 2 · 0⤊ 0⤋
Yes, you could get a car or house "someday". Maybe not at the best rate.
My score is not the best, was around 640 and I was able to finagle an 8%car loan and a 5.5% house loan last year.
It is not whether you can get the car and house, you could. With your current score, it is a question of what interest rate they will try to stick you with.
You will have to bluff your rate down, threaten to walk away from a deal if they cannot lower your rate..........that is what I did and they "figured out" a way to do it on both the car and house.
Since it sounds like your car and house purchase is a ways off you have time to pay down some of your debts.
They look also at your income debt ratio.
Another thing that determines your score is how close you are to credit limits on the accounts that you do have, even if you are paying them on time.
Best of luck to you.
2006-09-12 05:27:42 · answer #7 · answered by Anonymous · 0⤊ 0⤋
This score is not bad. Generally speaking a score of 650 will get you approved for most loans and financing and you just fall a little short of that. You're on the right path but if you want tips on raising your credit score, check out Raising Your Credit Score
http://finance-girl.blogspot.com/2006/09/raising-your-credit-score-who-doesnt.html
2006-09-12 06:18:46 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It is below average. Yes, you will be able to get a car or house. The trick is to make lenders compete for your business and don't be afraid to tell lenders that their rate is too high and you are going to go some where else. Make sure that your credit card rates are locked in or else they will use your credit score as an excuse to raise the rates on you one year after you start using them. It's a form of legalized loan sharking.
2006-09-12 05:26:50 · answer #9 · answered by Anonymous · 0⤊ 0⤋
627 is nothing to complain about. That's better than most people. The money that you owe is not the only factor in looking at this score. You also have to look at how much credit companies have extended to you - how much *could* you spend if you maxed out all your cards. They look at the "potential" amount that you could spend.
2006-09-12 05:21:25 · answer #10 · answered by Cara M 4 · 0⤊ 0⤋
Average is @650 you are under and in the poor rating. You will be able to get a house and a car just at a higher percentage rate then others with better credit. In other words just get those medical bills paid off and over time it will improve. Good Luck!!!!!
2006-09-12 05:20:54 · answer #11 · answered by mrsdamico22 3 · 0⤊ 0⤋