At this stage in the game I think we all understand that knowing what our credit score means is important. But what if you're in the mid-credit score range. For instance a popular question asked "is 700 a good credit score?" Knowing your credit score is just not enough anymore, you must analyze what it means.
Most of us know what our credit score it. Let's face it, how could you not know? But so what? what does that number mean? Many American's have asked "is 700 a good credit score?" Well, it's time to find out.
One reason many ask "is 700 a good credit score?" is because only one-third of all American's can give an informed answer. The first reaction is "Hey it's better than 600," but how hard is that anyway?! Take the time, right now, to finally annalyze what a credit score means.
When it comes to dissecting and analyzing a credit score there are a few standard rules and a few that are quite subjective. Is 700 a good credit score? I don't know, is it? See, it all depends on who you ask. A national bank may draw the line for the lowest mortgage rates at 740, where a hometown bank may decide that when asked "is 700 a good credit score?" to answer, "why yes!."
Credit scores are notorious for being the measuring stick for many important life events that you will face. Trying to rent your first place? Most likely a credit score of 700 will be more than sufficient to get the "A-OK" for the first available apartment. It truly is amazing how many things a person's credit score is pulled for.
Employers love to pull applicant's credit. The fact that there is a definite number attached to one's credit gives the impression that one's credit is an object measure of a person's trustworthiness and responsibility. Really? Well, o.k., I'll succeed a bit. Granted, a score of 400 did not get that way by one late credit card payment. But if you're flashing a 700, then yes to the questions "is 700 a good credit score." 700 is a score to hold your head high and be proud about. However, attaining even a respectable 700 will not get you all the perks available.
Let's assume you're past the "getting my first apartment" and I'm stealing mom and dad's dishes phase. Let's push it a bit further and even assume that you've lived a bit of life and are looking to build your financial portfolio. Have an interest in real estate? Fantastic! Real estate offers a bevvy of wealth opportunity. Time to go back to our original question "is 700 a good credit score?" Yes and no.
When one begins to expand their financial power, the higher the credit score the better, period. There are specific home investing loans that you will need to have a credit score of 740 or better to take advantage of. Some lenders will require 780 for the most liberal of loans. Can't say that I blame them. We're talking about hundreds of thousands of dollars with minimal proof required and a low interest rate!
Hey, I'll I said was yes to the question "is 700 a good credit score?" I never said you couldn't do better.
Free Instant Credit Reports - They Really do Exist
Don't be fooled! Access to free instant credit reports is not as easy as hundreds of sites would have you believe. Yes, since the FTC ruling in 2005 you are entitled to one free annual report from each of the 3 major credit bureaus. But in order to truly get a "free instant credit report" there is only one website that is truly trustworthy.
Lenders for Problem Credit, Oh How We Love You!
Would you like to purchase a home but you have problem credit that you feel is holding you back? If so, this is not a problem if you can find lenders for problem credit. There are many lenders out there that work specifically with people who have less than perfect credit, and even if you have poor (or the dreaded bad credit!), you should still be able to get the credit that you need to buy the home of your dreams
"I Have Bad Credit Need A Loan," How to Get to "Yes!"
I have bad credit need a loan. This is something that lenders are hearing more and more today, especially with the dip in the economy in the past few months. There are more and more people who are struggling financially today and they need loans that are there for people who even have bad credit. If you are to the point where you have to tell lenders, I have bad credit need a loan, here are a few tips that can actually give you a bit of help.
