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| *Ostroff, Fair and Company>>>Credit |
Is 713 a good credit score? |
What is the education amount I would qualify for at this score? $50,000? As far as score goes, it's good. The national average is 675 so you are well above that. The better question is what makes up your score? Credit scores are calculated as follows; 1. Pay history 35% 2. Time in bureau 15% 3. Types of credit 10% 4. New credit 10% 5. Debt to credit ratio 30% I look at credit all day and it's not uncommon to see young people with very high scores that can not qualify to buy a car because their credit score is made up of 1-credit card with a $500.00 limit paid 15-times and a couple of student loans. While this profile results in a good score, it doe's not show the ability or the willingness to really pay anybody. What you need is 3 credit cards (revolving) and at least 2 autos, boats, homes, furniture or personal loans (installment) all with good long pay historys and CC balances belwo 30% of your credit line for the best score and profile. This type of credit report will allow you to purchase whatever you need at the best interest rates. Source(s): Finance Manager for over 7-years. yep it is, mine is 720. My loan officer said so. The question, I don't have a clue, sorry yeah its pretty good Yes it is a good credit score. Finance companies and banks take your middle credit score as the one they use to determine what you qualify for. Yes, it's above the national average (675). Most educational loans aren't based on credit scores. http://aaacreditguide.com/forums/beginne... http://aaacreditguide.com/forums/student... |
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