2006-12-13 05:12:00 · 8 answers · asked by Patricia W 1 in Business & Finance ➔ Credit
Yes, but there is room for improvement.
Here is some additional info. Hope this helps.
2006-12-13 05:15:45 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Most banks consider 620 and lower a bad score. There are other factors to consider. I have seen people with bancruptcy that have a 640 score also. If you have paid your bills and are not very far behind, your 640 is not all that bad. The national average is higher though, around 676.
2006-12-13 05:17:26 · answer #2 · answered by lincolnbuck 3 · 0⤊ 0⤋
No, 640 is below the national average of 720. You can go to http://www.myfico.com/ to take a look at what type of interest rates you could get with 640 vs 720.
2006-12-13 07:35:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It's okay. You can get some credit cards, with higher interest rates and lower limits than if you had a score in the high 600's or 700's. You can buy a home usually, but again with higher interest. Stick to whatever you doing to get it up higher. Pay on time, and don't get alot of credit all at once. Hope this helps... :)
2006-12-13 05:17:38 · answer #4 · answered by TC 3 · 0⤊ 0⤋
above a 500 is pretty good for banks to work with as far as a loan,but a 640 your doing very well.they like to see above 620.
2006-12-13 06:05:52 · answer #5 · answered by Bobbie 4 · 0⤊ 0⤋
According to http://www.low-interest-rate-visa-credit-cards.com/, your 640 is fair credit. Maybe somewhere it is even considered good, but i wouldn't say it's great.
2006-12-13 18:17:42 · answer #6 · answered by Shirrwood 2 · 0⤊ 0⤋
Depending on where you live it sounds average. Check this out.
http://www.creditreport.com The opening page shows average scores for all fifty states. Hope this helps.
2006-12-13 05:22:39 · answer #7 · answered by tpbthigb 4 · 0⤊ 0⤋
It's middling. Below the national average, actually. "B" paper with some mortgage lenders.
2006-12-13 05:22:49 · answer #8 · answered by Bostonian In MO 7 · 0⤊ 0⤋