What is a good credit score?
So I was wondering if anyone can tell me what is considered a good credit report?
I guess I’m at 690.
Is that good, bad, average?
Anyone know how this works?
Thats pretty good tom :tup:
Im currently 763 was 795 but i have been sucking lately. 690 is above average though the national average being 676.
650+ is considered good.
What type of report is it? What company? Each company has a varying credit rating.
My providian visa comes with a credit report. Although a good credit rating doesn always mean anything. When i bought my car it too a while to get approved for a loan because even though my credit was high i never purchased anything more than a few hundred since my previous car.
can you get a free credit report? i’m just curious as to where I stand… i have a mastercard
Get the providian visa, its always good to have a few credit cards and they have a pretty decent one.
690 isn’t bad by any means, but is not the :tits: either. Every lender has different requirements. If Your near 800, then You’re :tits:
The sooner You establish good credit, the better off You are. By establish GOOD credit, I mean open up 2 or 3 small credit cards, keep the balances under 30%, and NEVER pay them late.
The difference between a 650 Experian & a 800 Experian on a 20k car loan can easily mean a difference of $60 / mo. -or- $3500 over a 60 month loan.
-Nick
i have the providian visa. my limit is 17000 dollars i think. this is not a good thing.
I have the same limit but never use that card, i would if they would lower the interest rate but instead they keep jacking up the limit.
my limit i s 600. I have 3.50 remaining. I will give them a hundred bux tomorrow… an then use that up a short time later. Is this not good?
no, it’s not. Pay those balances down to less then 50% at least a few months before you try to get more financing (i.e. - car, mtg, whatever).
Credit Usage (% of revolving limit in use) & Payment history are worth ~40% of Your score.
-edit-
You’re better off having a $17k limit with a $1k bal. -then a- $1k bal. on a $2k limit.
Here:
- Never Pay Late, btw - KNOW your grace periods.
- Keep all revolving balances (Line of Credit, CCards, Overdraft Lines, etc) under 35% of the credit limit.
- Don’t open alot of new credit accounts at one time (i.e.-7 new credit cards for $300 each, The bureaus will think someting bad is happening to You financially).
- Don’t take out $100,000 in revolving credit if You don’t need it, unless You have a specific need in the next 3 years.
- Don’t try to carry $100k in debt when You make $20k / year. There is no way in hell You could pay all $100k off if You had to.
- Never pay late.
- If You don’t make Your money “on the books” You’ll be screwed if You are ever asked to show income for a loan.
- Be aware, if You co-sign a loan for someone, and they fuck it up, it WILL come back on You. Even if You are not the “primary” borrower.
- Civil & Public Judgements are BAD. Worse then bankruptcy (depending on type); at least with Chap. 11 the lenders know that You don’t have much debt anymore.
- Don’t Pay late.
- Installment loans (car, boat, bike, unsecured) can be Your friend. Especially if You pay them off early. It establishes a good pmt history on a larger / more commited scale then a $15/mo ccard pmt.
- Check You Credit Report (all three bureaus (Exp, Trans Union, Equifax) at least once per year. This will make it alot easier to avoid mistake by Your lenders, and of course keep You aware of fraud, or inquiries.
That should cover the basics.
are late payments on my insurance and phone bad ?
:lol: AHHAHAHAHAHA :lolsign:
Yes, but not as bad.
Utilities bills & medical bills are somewhat over looked due to various reasons (payment agreements, basic need commitment, insurance claims processing time, etc).
Secondary services (such as cell phone, auto insurance, and similar service contract providers) are rarely noticed, unless that company has put You into collections.
You have to remember: insurance & most cell phones are like rent - You pay for the service before You use it.
my check > your check 
:withstupi Come Friday, I’m paying off the one that I racked up in Vegas this past weekend.