Credit score of 697?

Question

I just checked my credit score and it is 697... is that good? I am 27 yrs old and am not paying a mortgage only a car payment, so is 697 pretty good?

Also, I heard the more credit card offers you get in the mail... the better your credit is. Is that true?

Answer 1

It's decent - around average, or maybe a little above average. Keep up the good work.

Answer 2

Is 697 A Good Credit Score

Answer 3

697 is a good score and you are very close to having great credit! you now qualify for a mortgage as far as most guidelines. keep paying your car and as long as you are careful you will have a 700 score in no time at all just so you know 680 is the cut off for alt A credit it basically is the low end of A credit!
keep up with your payments and if you ever want to get a mortgage you will need 4 trade lines at least 2 years old keep up the good work

Answer 4

Yes 697 is good, not great, but good. Keep up what you're doing and try to reach 720+.

Yes, typically the more pre-approval credit cards offering you get in the mail means you've met the minimum credit criteria to get the mailing in the first place. For example, the credit cards companies can request a list of names from the credit cards companies of people that meet certain standards (location, minimum credit score, etc) and if you meet their guidelines, you get a soliciation. You very well may know, but don't pay much attention to those, and if you are interested in actually applying for one that's okay but don't accept every offer or else that will hurt your credit with too much new credit and too many inquiries.

Answer 5

What is a credit score and what is it designed to do?

"The FICO score is the single best summary score of one's credit worthiness," says E-Loan President and Chief Operating Officer Joe Kennedy.
A credit score number is often called a FICO score, for Fair, Isaac and Co., the California company that developed the system upon which it is based.
The score is supposed to distill all the information in your credit report, using a formula to calculate a single number that indicates your credit worthiness.
It's designed to give lenders a fast, accurate prediction of the risk involved in giving you a loan. Lenders have attested to the score's value in streamlining the underwriting process and creating more opportunities for consumers to get mortgages.
Scores range from the 300s to about 900, with the vast majority of folks falling in the 600s and 700s. The higher the score, the better.

Answer 6

Yes, that is pretty good. Here's some stats for you. The average American has a credit of around 650. The very low risk score (the very best possible) is 850, the highest risk (the worst possible, in which even no credit may be better)borrower has a credit score of 350. Keep up the good work, in the lending business the borrowers past credit history is always a strong predictor of what his or her willingness to repay future debts.
Outstanding job!

Answer 7

This Site Might Help You.

RE:
Credit score of 697?
I just checked my credit score and it is 697... is that good? I am 27 yrs old and am not paying a mortgage only a car payment, so is 697 pretty good?

Answer 8

The FICO numbers determine what makes a good credit score as a range that generally lies amid 300-800. Usually higher the number, better the score. E.g. a person whose score is 700 can easily answer what a good credit score is by considering the interest on loans they get. Usually they get excellent offers because of their rating.

Answer 9

Your doing pretty good man the median credit score is 720 so your a little bit less than average but still good

Answer 10

Very good just don't be late onany payments. Keep it up.