Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
scooby76

0 Contributions
0 People Helped
What is a good credit score?
Credit Karma’s Response Watch and Learn. View More Videos

What Is A Good Credit Score?

How high of a credit score do you need to get the best rates? It varies, but 720 might be your magic number.

Disclaimer: This video provides general information about credit and is not intended to advise about your personal financial situation. Consult a financial, legal or other professional adviser. In other words, someone who's not a video.

Disclaimer: This video provides general information about credit and is not intended to advise about your personal financial situation. Consult a financial, legal or other professional adviser.

All Responses

Results 1-10 of 22Results per page: 5 | 10 | 25Page 1 of 3   Previous | Next
1 Contribution
3 People Helped
Most Helpful Response

Helpful to 3 out of 4 people

A month ago my scores were 666 TU - 642 Exp - 641 Eqfx ... My proposed lender pulled my experian report (I know, because I pulled my report and saw the inquiry) they said my score was a 594 !?!?! How is that possible? .. I've since cleared up 3 major issues on my report and my scores are now 709 TU & 709 Experian (Haven't checked Equifax)... How am I supposed to know what's real? It seems arbitrary and the scores that consumers can access are worthless.

Top Contributor

Reply by
JohnHoer

89 Contributions
183 People Helped
Helpful to 2 out of 2 people

My Transrisk score is 673. When I obtained a recent loan from the bank my Trans Union scrore was 704.

7 Contributions
345 People Helped

Helpful to 3 out of 4 people

Either way anniebaby your credit score of 740 should soon be at 750 or better which will qualify you across the board!

Reply by
letsmakeadea

2 Contributions
0 People Helped

unless they drop your score by lowering your avilable credit line to keep you paying high interest rates.

They love doing that and the feds don't care.

we need to vote people in who care about the little person.

Top Contributor
24 Contributions
38 People Helped

Helpful to 1 out of 1 people

its amazing what I have learned thru reading on credit karma. I just have to say Thanks to everyone for their comments and I am learning everyday something new in here!

2 Contributions
2 People Helped

Helpful to 2 out of 3 people

Under the "How Lenders View Your Credit" my score (740) falls in the "Good Category." On the "What is a good credit score" question, it's considered "Excellent." Why the difference? Thanks.

Top Contributor

Reply by
Clairissa

713 Contributions
2435 People Helped
Helpful to 3 out of 4 people

I have the same question as anniebaby. My score of 735 is listed merely as "good" on your Report Card. Isn't that better than good?

Another question: TransUnion just dropped my score abruptly from 759 to 735 based solely on 1 hard inquiry to my credit report. Since that hard inquiry resulted in my getting a new credit line and dropping my utilization from 59% to below 40%, shouldn't that have resulted in an _improvement_ in my score? Or at least not such a drastic drop? Thank you.

Credit quality is in the eyes of the beholder. Two year ago that was an excellent score but today many lenders are taking a closer look at credit quality. As for the inquiry, it normally stops affecting your credit score in 2-6 months. You should see it bounce back soon.

Reply by
CK Moderator

1 Contribution
0 People Helped

Why is my credit score 724 here and 695 on the truecredit website for transunion? And why is a 724 here considered a B, where a 695 is considered a D? If I needed to get a bank loan, would they check this website or truecredit? How do I know which credit score is right?

Thanks

As of Jan, 2010, TrueCredit moved to the Vantage Score system which differs from our system. Both score are right although, there is seems to be a very large discrepancy in the relative range. Are you sure both scores are the most recent?

Review by
CK Moderator

1 Contribution
0 People Helped

On your listing as to what the credit scores mean, whether they are fair or good ect., you have 640-719 listed as good. Yet when I look at my credit score which is 699, you say that it is fair. So why do you say it is fair and not good?

Ratings are constantly in flux based on lenders and the economy. We will review our ratings to ensure more consistency in this credit environment.

Review by
CK Moderator

2 Contributions
0 People Helped

the credit folks are working a monoply on people to charge them high interest rates, it will come back on them one of these days when people get fed up and pull all their money out of the banks and rip up their credit cards.

I think the feds sould step in and place more regulations these crooks for the wait they scam people out of their hard earned money.

1 Contribution
0 People Helped

seems to me that paying down ones own debt will bring down THE score. i own my truck and my bikes,used cash. payed off my house this year, 13yrs early. and have money in my checking/savings/cd fund and owe no one nothing. and alls i get is a score of 686 or FAIR. and to think of all the money i saved just paying off my house. their game and rules i guess. i'll stick with cash and just keep buying rare gold coins, worked for me.

3 Contributions
3 People Helped

Could i get a car´s?

i have had my credit for no more than 6 months CK score is 709, vantage score is 718...my question is these scores make me a good option for the lenders...i just want to get a loan for a new car, but i dont want to get a hard inquiry and get not approved... has anyone been in this situation? thanks...

1 Contribution
0 People Helped

According to your figures my credit score is 666, fair, and by your charts anything over 639 is good. Why is my credit listed as fair?

Results 1-10 of 22Results per page: 5 | 10 | 25Page 1 of 3   Previous | Next

Reply to this Question

Write your response:
Enter Your Comments
 

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.