I got my credit report when I bought my truck and it was a 741, I am only 22 and I wanted to buy a inground pool and wanted to know if it was even possible with that score.
2007-03-25 14:33:03 · 6 answers · asked by markandjess2003 3 in Business & Finance ➔ Credit
I never knew how much money people really made, my parents were a bit on the poor side. I started an A/C business right out of high school and I take out a salary of $5500.00 a month and that seems like alot to me but like I said I don't know how much alot is. Is that about average? I live in Central Texas.
2007-03-25 14:54:06 · update #1
741 is a very good score. scores only go to 850, and they start at 300. I would recommend against a pool, because it can actually lower the value of your home, if your home isn't of a certain value. At 22, I'm sure you can't afford a house of that price. Plus there is a lot of upkeep to think of. The money that you'd spend on the pool itself, and on the upkeep should be put towards your retirement account, because at age 22, for ever $1 you put in at your current age, with compound interest, will generate $44 when you are 65. That pool sounds a lot more expensive now, right? If you put off savings for 8 years, that $1 will only bring $22 dollars. Save the pool for when you can afford a bigger and better house, and when you don't lose so much compound interest. If you spend $20,000 on the pool, and paid 7% on it, over 10 years, instead of putting the same money in a retirement account, then you would have over $1 million dollars for retirement.
2007-03-25 14:42:50 · answer #1 · answered by chaseunchase 4 · 2⤊ 2⤋
741 Credit Score
2016-10-05 11:46:52 · answer #2 · answered by ? 4 · 0⤊ 0⤋
This is a phenomenal score for your age and you need to be really careful. Many lendors won't verify your income with a score this high, so you could easily get a very expensive care without stating income. My credit was this high when I was your age and I got a bit carried away with debt (problem solved now), and its in the mid 600's now.
Don't let it go to your head and since you've already built a good credit history, I would advise you save for things you really want or at least put a considerable sum down.
2007-03-25 15:44:29 · answer #3 · answered by payroll_wife 1 · 2⤊ 0⤋
741 is good credit. The high is 850 which is an unheard of number. You should be able to buy what you want on time as long as your able to pay it back. Nobody will lend to you 100,000 dollars if you only make minimum wage.
Sincerely,
Bob Laibach
www.gogreedy.com
2007-03-25 14:38:07 · answer #4 · answered by Robert L www.gogreedy.com 2 · 0⤊ 0⤋
22 yrs old with a 741. You Go Man!!!!
2007-03-25 14:40:39 · answer #5 · answered by Anonymous · 1⤊ 0⤋
The higher the number, the better your rating... 741 is an excellent score.
2007-03-25 14:45:15 · answer #6 · answered by samj128 3 · 1⤊ 0⤋
it had better be a really sweet condo for 75K in today's market. My partner and I have bought 27 units the past year that were originally 200 plus and have not paid over 30 yet. Monthly maintenance is more then the mortgages :) Could be nuts too unless you are planing to retire
2016-03-13 19:29:36 · answer #7 · answered by Anonymous · 0⤊ 0⤋
That's a great score. Mine is 733 and I have had no trouble getting a home loan, car loan, personal loan etc... BUT, please only buy the pool if you can afford to pay the loan back. You don't want to ruin that great score. It will help you get low interest rates in the future to remortgage or buy a new home.
2007-03-25 14:38:32 · answer #8 · answered by Amsiar 4 · 1⤊ 0⤋
Yes, that is a GREAT score. Keep it up!
2007-03-25 14:36:39 · answer #9 · answered by Anonymous · 1⤊ 0⤋
Great score!!!!
I hope to be there soon
2007-03-25 14:43:05 · answer #10 · answered by JUDITH B 1 · 1⤊ 0⤋