The scale that my credit rating shows up on only goes up to 850. Can it be higher?
2007-03-16 07:20:48 · 6 answers · asked by ☺SDgurl☺ 3 in Business & Finance ➔ Credit
FICO can go to 850. VantageScore can go to 990.
2007-03-16 07:28:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The current system goes up to 850. The new system that should be in place later this year is going to go up to 990.
This is a system that is supposed to make sure that the scores of the three credit bureaus are more consistent rather than the 100-150 point spreads that exist now.
2007-03-16 07:30:03 · answer #2 · answered by ? 7 · 0⤊ 0⤋
No, it can't right now...850 is the max. But I think that at the end of this year there should be a new system that can go up to 990. Still, if you have anything over 700, it's a great credit score.
2007-03-16 07:33:46 · answer #3 · answered by gobucsgo7524 2 · 0⤊ 0⤋
Yes the scores are going up. But here's the thing..... it's all a moot point once you reach a certain score.
So one eeks their score up with the delicate balance of debt to credit ratio. They buy a new car all of the time and pay it and such. But they are in debt. Same with a house.
Once you reach a decent score you will qualify for whatever the great rate that is being offered. But what matters most is not buying things but accruing assets so you could put down a lot on a car or a house.
2007-03-16 07:53:01 · answer #4 · answered by jackson 7 · 0⤊ 0⤋
Different scoring methods give different maxima.
The very highest scores requires very great wealth to achieve - most people can't. Anything about 720 is considered excellent credit.
2007-03-16 07:29:01 · answer #5 · answered by John T 6 · 0⤊ 0⤋
maybe
2007-03-16 07:28:29 · answer #6 · answered by shorty21 5 · 0⤊ 0⤋