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Regular Contributor
yellowcake
Posts: 142
Registered: ‎05-07-2011
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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!

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Valued Contributor
SCF
Posts: 1,104
Registered: ‎06-09-2008
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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
yellowcake
Posts: 142
Registered: ‎05-07-2011
0

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

Thanks!
Regular Contributor
yellowcake
Posts: 142
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
suebee123
Posts: 252
Registered: ‎11-13-2011
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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
yellowcake
Posts: 142
Registered: ‎05-07-2011
0

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

Yes, Transunion.

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