is 585 a good score or bad
2007-11-27 17:53:01 · 7 answers · asked by stanley c 1 in Business & Finance ➔ Credit
jj if u r writing gre and gmat then its a good score
2007-11-27 17:56:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you want my opinion and I'm sure you do. I wouldn't worship at the alter of the almighty fico score. Its basically an I love debt score. To get a high score you have to borrow money and pay it back on time. To keep a high score you have to keep borrowing money and keep making payments on time.
A low score from not paying your bills is trouble. If you have a 0 score from not borrowing money you can still get an apartment and job and home loan with manual underwriting. It's not a sub prime loan either. You can get the lowest interest rates. They do it the way it was done before the I love debt score.
Of course the bankers on here are gonna tell you different. But,
Debt free is the way to be!
No payments = cash in the bank.
2007-11-28 03:48:47 · answer #2 · answered by heybulldog 5 · 0⤊ 0⤋
It's not great, but I've had worse than that! Look at my website. I had to repair my credit after ID theft and bankruptcy and I still got my score up from 486 to 730 in a little over a year, so this is something I know about!
I would also examine your report for errors because most people have them and you are free to dispute any negatives in your credit reports! I did this and i got 10 items removed and this made my score go up by 140 points!
2007-11-27 18:07:05 · answer #3 · answered by Anonymous · 1⤊ 0⤋
that is absolutely horrible the average American has a 660 which is ok but with a 585 you cant even go to the dealership and get a used car without putting almost the entire asking price of the car down. You better start paying people what you owe them!
2007-11-27 17:58:11 · answer #4 · answered by blodgettboy24 1 · 0⤊ 1⤋
Hi,
It's a bad score. You can go for a proper debt consolidation program with an expert's help. There are some genuine agencies that will help you choose the right debt consolidation program that will eventually improve your credit score. You can checkout http://ct.credithelperhome.com for some tips on improving your credit score quickly. Good luck!
2007-11-28 00:58:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Bad you must be brand new to credit or have done something wrong.
750-850 is excellent
720-750 is good
700-720 is ok
650-700 is bad
350-650 is worse than bad.
2007-11-27 18:05:15 · answer #6 · answered by shipwreck 7 · 0⤊ 0⤋
This is low.
750-850 is excellent.
660-749 is okay
Below is not good. Not the worst but it's not good.
2007-11-27 17:57:06 · answer #7 · answered by c d 3 · 1⤊ 0⤋