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!

Posted in Credit Scores
What is a good credit score?
Profile Image

Question By
scooby76

0 Contributions
0 People Helped
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
Most Helpful Response
Helpful to 3 out of 3 people

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

Response by
Waddy

7 Contributions
315 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.

Reply by
letsmakeadea

2 Contributions
0 People Helped
Helpful to 2 out of 2 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.

Response by
anniebaby

2 Contributions
2 People Helped
Helpful to 2 out of 2 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.

Top Contributor

Reply by
Clairissa

1754 Contributions
696 People Helped

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.

- Apr 11, 2010

Reply by
CK Moderator

Helpful to 1 out of 1 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.

Response by
Schiffman

1 Contribution
1 Person Helped

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

Top Contributor

Reply by
JohnHoer

89 Contributions
56 People Helped
Rural housing loans

what is their credit scoring for people who apply for home loans

 I heard they have a different rating on credit scores .??

 would lovve to know

Response by
L34gooch

1 Contribution
0 People Helped
SCORE DROPPED FOR NO APPARENT REASON

My score dropped from excellent high to mid good.  No changes in my habits that I'm aware of.  I feel like someone is running some kind of game on me.

Response by
editorterry

1 Contribution
0 People Helped
Hefty drop of score.

I just loged into my account an updated my score it went from 756 to 740 please explain to me why this has happened, i paid an have paid my bills on time so it's rather puzzling to me why all of sudden it has dropped such a hefty drop in points, maybe i'm over reacting here but i have worked very hard to mantain an keep my credit after it was compromised my ss number was stolen an for years i could not get credit until i had just recenty found out through Sears where the fraudlent charges were made using my ss number an my name, so it's really important to me that nothing happens to me again like that did.

Thank you,

James Lawrence Dean

Response by
1neesofthemanydonotoutwayusthe

8 Contributions
1 Person Helped

all my grades are A and B but my avg card life or whatever is a D. My avg open credit limit is less then 3 years. This is crap I use credit cards and then when I dont want them I close them. I should not be punished for this. I still have a score near 750 but just because I closed a credit account doesn't mean I am a bad credit risk. IT MEANS I PAY OFF MY CREDIT CARDS QUICKLY AND TOSS THEM OUT.

Response by
slmckay

1 Contribution
0 People Helped

I was told that Credit Karma web site was a scam. And This is after I gave all my info to you. That and when my husband tried to join and entered his ss. you said it was invalid, yet when he entered the same ss but changed the last number it worked. Then when we went to get a lone credit karma said our score was 700 and the loan office pulled our credit and it said it was 569. And we need a 620 to get a va loan. SO who or what should I believe?

Response by
mimiof4

1 Contribution
0 People Helped

Credit Karma score is from TransUnion and the Loan Officer that you guys were getting the loan from could pull the credit score from another Bureau; such as: experian, equifax, or fico score!!!

Top Contributor

Reply by
geminibug

23 Contributions
4 People Helped

Before the recession: 700+ was decent.

After the recession, credit-tightening lenders, and bloated banks: need at least 720 just to get somewhat good rates at lenders and mortgage brokers.

Nowadays.. great credit scores are even more important yet even harder to maintain (high fees, cut credit limits, and sneaky practices oh my!). Oh the good old days...

Top Contributor

Response by
iwantcookies

26 Contributions
127 People Helped

Why should the banks require higher credit scores. They were bailed out by the very people who are applying for the credit, they are now making huge profits and have huge reserves of cash on hand.

And the prime rate is much lower now than it was four years, six years or even ten years ago.

And if a credit score was good four years ago, why isn't the score just as good now. Or do the scores really not mean much?

I heard that it actually takes less of a credit score to qualify for a mortgage now than it did a few months ago.

Consumers! The banks are not our friends! They have ripped consumers off for hunders of billions of dollars, and remember, profit is their motive. That's the way the system works.

When negotiationg with the banks, always remember that they are your adversary. That is the nature of capitalism. When you are issued a credit card/charge card it is not a gift. At most, it is a tool for you. They plan to make a substantial profit from you for not only using it, but for having it. And they will also make a profit off of the merchant who uses it.

Mercahnts must take credit cards to compete for you business. But, whenever you use credit instead of cash, it means that merchants must increase their prices for the cost of offering that service.

Top Contributor

Reply by
JohnHoer

89 Contributions
56 People Helped

Something probably better than mine! ;)

Top Contributor

Response by
superhookie

21 Contributions
38 People Helped
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
Submit to the Community