is 634 a good credit score??

Answer 1

Here are the score ranges:

* 760-850 Excelent
* 700-759 Very Good
* 660-699 Good
* 620-659 Marginal
* 580-619 Poor
* 500-579 Very Poor

Here are my 10 steps you can use to build your credit score quickly. I raised mine to well over 700 points fro 500 using these steps in less than a year:

1. Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score monitoring listed on the article below. It really helped my get my score up.)
2. Never Miss a Payment, Starting Today
3. Never use more than 20% of your Available Credit
4. Keep Credit Cards that Have No Annual Fees Open For as Long as Possible
5. Extend Your Credit Limit on Cards You Already Have before You Get New Ones
6. Get Credit Cards that Have CashBack Rewards to Contribute to your Balance
7. Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit-
8. If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan
9. Take out a Small Personal Loan and Repay it Over a Year
10. Ask Someone With Good Credit if They will Account Shadow you

When you're trying to build a solid credit score it's important to get a comprehensive view of what is actually effecting it...

Your Credit Score (also known as your MyFico score) is calculated with the following breakdown:

* 35% - Payment History
* 30% - Credit to Debt Ratio
* 15% - Credit History
* 10% - New Credit
* 10% - Credit Types in Use

If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score.

You can read more about these tips on my blog: How Can I Increase My Credit Score

* http://millionster.com/articles/debt/ask-1mil-how-can-i-increase-my-credit-score/

Answer 2

634 Credit Score

Answer 3

In general this is how scores are viewed from a lenders point of view.

Below 500- truely awful. Dont even bother applying any type of credit.

500-575. Bad, and you will not get good rates, even if you do happend to get approved.

575-630- not great, below average. You may start to get some ok rates if your income is good enough though.

630-680 Average

680-730. Good, although you wont always get the best rates

730 plus.. excellent and you can almost always get the best rates a bank will offer.


Its on the low end of the average range. Lenders say anything from 630-680 is consdered average. So your score would be neither good, nor bad. What kind of rates you get will depend alot on the individual bank.

634 credit score can still get decent rates if your income is good. My wife and I have scores in the mid 600s and we just got a very good mortgage rate and terms.

Answer 4

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RE:
is 634 a good credit score??

Answer 5

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634 is considered below average. You would want that score to be AT LEAST 660 (let alone 720) in order to qualify for any of the "billboard rates" that you see driving down the road. Be sure you have at least 3 open tradelines (revolving debts like credit cards, or installment debts like car loans) at all times. After 12 months, you should have spectacular credit if you follow that rule...

Answer 6

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RE :Is 634 a good credit score??
Follow 13 answers

Answer 7

There is no standard model on what is considered to be a good or bad FICO score. This question really depends on your lender and how they rate individual scores. However, we can make some generalizations about FICO scores that range up to 850 and what score may be considered to be good, fair and bad.

600 to 650 - A good credit score. Sometimes the minimum for good credit is at 620 or above, because this is generally considered the cutoff point for a prime rate loan.

Answer 8

It's OK, not great. 700+ makes life a little easier in certain areas. Get as many small bills and credit cards paid off and cancell what you don't need. You credit score will go up before you know it.

Answer 9

The bank I worked for you couldn't get anything like credit cards or loans if your fico was under 680. Keep paying your bills on time and you'll be there in no time.

Answer 10

No good scores start at 720 average start about 680