What is the quality of a credit score of 642?

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What is a credit score?

Credit Scores For years, creditors have been using credit scores to determine if you'd be a good risk for credit cards and auto loans. More recently, credit scores have been used to help creditors evaluate your ability to repay home mortgage loans. Here's how scoring works. Scoring is a system (MORE)

How to you get a credit score?

You have to have credit to have a score. If you have never had a credit account, you will need to take steps to establish credit. Good ways to start include secured credit cards, auto loans, department store cards (although I strongly recommend staying away from those). After six months, a credit sc (MORE)

Can a credit card raise your credit score?

Answer . Having a credit card is a great step to starting your credit score. However, just having the card and not doing anything with it have very little impact. The best way to take advantage of it is to periodically use and payoff the card to establish yourself in the world of credit.\n. \nY (MORE)

What does your credit score have to be to get a credit card?

This completely depends on the bank you are going to and their guidelines. Currently, most banks are turning people down with credit score below 660. If your score is not high enough, one of my favorite ways to boost a person's credit card score is to teach them about the magic of authorized users. (MORE)

Why would checking your credit score effect your credit score?

Requesting a credit report will NOT affect your credit. You have the right to look at your credit report without it affecting your credit or score. When you request your credit report it's called a "consumer pull" and has no affect on your credit. The only time when requesting a credit report can af (MORE)

How do you get your credit score?

Here's a couple ways... By law, each of the three major credit reporting agencies have to give you one free credit report (in addition to other opportunities you have to look at your report when you are denied credit based on reports for any of the three) The three agencies are Equifax, TransU (MORE)

Is my credit score on my credit report?

Your credit score is determined from the data on your credit report. Most credit reporting sites sell or give away for free a credit score with your credit report. Some site only give away a credit score. So, the answer to your question is, yes, your score generally comes with your credit report but (MORE)

What is your credit score?

Your credit score - is a numerical value based on your credithistory. It takes into account such things as how much dbt you owe,if you've ever been late in paying bills, ever had court casesraised against you for defaulting on payment, or how many timesyou've moved. The higher your score - the more (MORE)

What credit score is fair credit?

That would depend on what you are using your credit report for as many industries have changed their criteria for credit lending. For example, in the mortgage industry fair credit use to be 580-620...now it is 680-720...

What are the credit score what is a good credit score?

A credit scoreis a tool used by lenders to help them make lending decisions. Acredit score is determined by the information in a credit report.While credit scores depend on specific scoring systems used,ultimately they represent the risk level that you represent to apotential lender. Using the PLUS (MORE)

Why no credit score?

If a credit bureau does not have a credit score for you, it is usually because they do not have enough credit information about you on file to give you a score. This usually occurs when you have not had traditional credit accounts such as credit cards or mortgages with banks that report to the credi (MORE)

If you have no credit history do you have a credit score?

No, it is impossible to have a credit score without any credit history. But you should check to make sure. You might find lines of credit reported in your name that don't belong to you which is a potential indication of identity theft.

How can you get your credit score?

There are many sites that offer credit scores. Just do a search on "credit Scores". But, remember, although you can get your credit report for free (once per year) at each of the three credit agencies at the government mandated site you cannot get a credit score for free at this site. Other sites (MORE)

How does a credit check affect a credit score?

When you ask a possible creditor to inquire about your credit, it may affect your credit. This is because it implies that you're possibly opening a new line of credit. But you have the right to look at your credit report without affecting your credit. When you request your credit report it's called (MORE)

What is credit scores?

A personal credit score is numerical representation of your credit worthiness. It is based on the data contained in your credit profile that is populated by the lenders you have borrowed from currently or in the past. Your on-time payment record, number of loans you have outstanding, the percentage (MORE)

What is your credit score if you have no credit?

In most situations, if you have no credit record, there will be no credit score produced by the agencies. However, many banks and other credit providers have techniques to produce internal credit scores for customers having "thin files" or no credit record. These scores are never given/shared with t (MORE)

How does credit counseling impact credit score?

Answer . Credit counseling will appear on your credit report, but it's not factored into your credit score. Lenders and creditors may be hesitant to issue new credit if the credit counseling is recent. . Answer . Debt consolidation may not result in the best notation on your credit report. (MORE)

Does your personal credit score affect your business credit score?

If your personal credit is tied to yourbusiness credit, you run the risk of having your personal creditaffect your business credit. When, establishing a business, it mayseem easier to use your personal credit to get loans, but thiscould increase your personal risk should the business fail orundergo (MORE)

How can you change your bad credit score to a good credit score?

Take the time to handle your credit responsibly and wisely, andkeep an eye on your credit report to avoid errors and incorrectdata creeping in there. Doing so only takes a bit of effort and canpay off in spades for you and your financial future. Make sure to keep credit accounts under 30 percent of (MORE)

What is a credit report and what is a credit score?

A credit report is a list of your credit accounts with differentcreditors stating your payment history with them. A credit score ismade up of different items on your credit report using an algorithmincluding payment history, credit length, debt to limit ratio,credit types, and inquiries. A FICO cred (MORE)

Is a credit score of 642 good?

642 is good enough to get approved for a mortgage loan. Currently the cut off is at about 620 but there are plans to raise the minimum to 640 as credit is getting tightened. The $8000 tax credit for first time home buyers has been extended as well as a new $6500 home owner credit if you have owned y (MORE)

Is credit consalidation bad for your credit score?

Yes it is! A credit consolidation is a bad credit item which ultimately lowers your credit score. It remains in your creditreport till 7 years and constantly affects your credit scores and your credit worthiness.

Does checking your credit score often lower your credit score?

No. The only thing that can lower your score is when you apply fornew credit. Many companies do background checks that include acredit report, but this will not lower your score. There are waysto avoid lowering your score on accident. Make sure you're notfalling into these credit traps.

Will a credit check ruin your credit score?

No, if you fill out applications to open a line of credit then that will change your credit score but simple inquires of your personal credit score will not ruin it. It is better to keep an eye out on your score and report to make sure no one has opened an account in your name or to dispute anything (MORE)

Can you get a credit card with a 611 credit score?

If you have a 611 credit score, there's a good chance you will not be approved when applying for a credit card, assuming it requires good or excellent credit. Put simply, most creditors refer to credit scores below 620 as "subprime." So a credit score below that range likely won't be sufficient f (MORE)

Can getting a new credit score affect your credit score?

If a consumer does multiple inquiries into their credit file, your score will drop, especially if your inquires are from credit card companies. The theory is: a consumer may not have enough money and needs more credit to sustain his/here lifestyle which bring in more debt, thus applying for more cr (MORE)

How to get your credit score from on a credit report?

It depends on what type of report you get. The cheapest form of credit report won't actually tell you the actual score the agency has for you - just show general information which you can check to see if there are any errors that need correcting, or old information that ought to be removed. They (MORE)

What is a credit report and a credit score?

A credit report basically contains information about your credit history, whereas Credit score is a number which is generated on the basis of your credit report. Score totally depends upon one's credit record, if history is good, credit score will be high. I always check my credit score free at Fr (MORE)

How does credit counseling affect your credit score?

Credit counseling helps people by putting them on a plan to get outof credit card debt. Without this, most people would have no clueas to how get out of debt. ----------------------------------------------------------- The fact that you may be receiving credit counselling will not beknown than thus (MORE)

Are Credit Ratings an Assurance of Credit Quality?

No. Credit Ratings should not be viewed as an assurance of credit quality or the exact likelihood of default. Instead, ratings denote a relative level of credit risk that reflects a rating agency's carefully considered and analytically informed opinion as to the creditworthiness of an issuer or the (MORE)

Is a credit crunch related to my credit score?

A credit crunch is related to your credit score, because it means that banks are especially strict about who they will lend to. They are less likely than usual to extend credit to someone with a low credit score, so maintaining a high score is even more important than usual.

Does your credit score affect your husbands credit score?

The only time that your credit score will affect your spouse's credit score is if you both agree and sign together for a specific loan (e.g.-Auto Loan, Mortgage, etc.) Usually if whom ever is typically responsible for paying on the loan fails to make the payment, both yours and your spouse's credit (MORE)

How is a FICO Score different from a Credit Score?

FICO stands for Fair Isaac Corporation, which is a company that calculates the credit score that most creditors use to determine your creditworthiness. So, your FICO score is a type of credit score. They use the information that each of the three credit bureaus (Experian, Equifax, TransUnion) posses (MORE)

What credit card can you get with a 576 credit score?

The selection of cards you may qualify for with that score may depend on your locality, but typically secured credit cards are the most likely cards you can get. There are several unsecured cards you may qualify for with subprime terms, yet these cards might have unfavorable terms.

A credit score is?

Credit score is ranges from 300 to 850. Credit is a evaluation ofyour credit card bills, mortgage and other loans.

What credit score is good for applying for credit?

In general terms, any score above a 740 score is considered excellent. However, every lender sets their own standards and their own tolerance for risk. At this time many lenders will consider that 650 is the point between what most consider a prime and sub-prime lender. What is considered a good (MORE)

Is the score 735 a good credit score?

In general, yes a score of 735 is considered a great score. With this score you should get the best interest rate at almost all lenders. However, each lender and each industry has a different tolerance for the risk they will take. Your FICO score is really only a measurement of the risk of you defau (MORE)

What happens if a finance officer changes your credit score to get you to qualify for something you wouldn't quality for?

Some companies have the ability to directly communicate with thecredit rating company and can effect changes. However, like you, Iwould be leery. Only you know the financial situation you are in,but if your credit rating is low, it indicates late pay, judgementsand other issues that you should take (MORE)

How do credit cards influence credit scores?

If you use the card sensibly... by paying off any purchasesquickly, and don't need to increase your limit (unless thecard-issuers offers it) - using credit cards properly is a greatway to boost your credit score. If you use it responsibly - itshows potential creditors that you are a trust-worthy pro (MORE)