Reply
Regular Contributor
Posts: 153
Registered: ‎05-07-2011
0

Minimum score for best rate on Wells Fargo private consolidation?

Does anyone know what score is required to get the best rate for a private student loan consolidation with Wells Fargo?

 

Thanks!

Community Leader<br> Valued Contributor</br>
Community Leader
Valued Contributor
Posts: 1,321
Registered: ‎06-09-2008
0

Re: Minimum score for best rate on Wells Fargo private consolidation?

Getting the best rate is probably going to depend on more than your score.  The lender will also consider your income, the amount you are borrowing, and the overall terms of the loan.

 

A general rule of thumb is that most lenders will give you the best credit terms if you have a score over 720, but some lenders may have stricter requirements.  They may also not pull the exact score you can access here, because there are many "flavors" of FICO available to lenders.  If you are around 720, or even better up to 750, I would expect that your score would have no negative impact on your rate, and it would come down to other factors if they gave you the lowest rate available.

Regular Contributor
Posts: 153
Registered: ‎05-07-2011
0

Re: Minimum score for best rate on Wells Fargo private consolidation?

Thanks!
Regular Contributor
Posts: 153
Registered: ‎05-07-2011
0

Re: Minimum score for best rate on Wells Fargo private consolidation?

I'm happy to report that I got the best available rate of 4%, 3.5% after .25% relationship discount and .25% discount for autopay.

My TU score was 757.

Frequent Contributor
Posts: 252
Registered: ‎11-13-2011
0

Re: Minimum score for best rate on Wells Fargo private consolidation?

Wow, that's great.  I need to do the same thing next year.  Do you know what credit bureau Wells Fargo pulled?

Current: EQ Fico (700), EX Fico AMX (681) TU Fico Walmart (711) MyFico TU (708) Vantage: TU 803, EX 777, EQ 789
Goal: 700+ across the board.
Regular Contributor
Posts: 153
Registered: ‎05-07-2011
0

Re: Minimum score for best rate on Wells Fargo private consolidation?

Yes, Transunion.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.