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I am trying to get an Apartment in the next few monts. My current EQ. FICO is 706, (TU is around the same) but will go up once all my credit cards report 0 and and the utilization goes down. I have never had an apartment before and I'm not to sure what landlords look for. Any comment or help will be appreciated.
I think every landlord is probably different, but when I asked a former landlord a while back what he looks at when he does his credit pull, he said he's not looking at the credit score, but rather for bad accounts that might suggest that a person is a leasing risk. So if your credit report doesn't have any recent delinquent accounts or active collections, then you're probably fine.
The question of credit card balances didn't come up when I talked to him, so I don't know if high balances is necessarily a red flag to landlords. But conceivably it could be a factor.
^ thanks for the input.
Agree. They are not lending money, and have tight month-to-months terms in their leases that allow for termination. Their risk is not the same as in lending and extension of credit decisions. I would suspect that with a 700+ score, it should not be a factor, unless you have serious past payment derogs.
i noticed lanlords tend to be on the more linient side when it come sto checking how clean your credit is, its wont be as hard as getting an auto
No I have no negatives. I have/had 11 accounts but only 3 1/2 years of credit histoy. 3 accounts include auto loans, 1 student loan, 1 LOC, and 6 CC.