Credit Card Center Advertiser Disclosure†
10-31-2012 09:26 AM
10-31-2012 06:32 PM
Yes, it is possible. I have twice as much in student loans and my TU is 771 and my EQ is 781.
10-31-2012 07:58 PM
The amount of your installment debt is not really going to impact your score. Bigger factors are utilization on your revovling accounts (credit cards), mix of credit (installment, revolving), any late payments, and the one that is probably holding you back the most, average age of accounts. At this point, you'll probably want to bring your util down a little (6-7% is generally accepted to be a good range, even as low as 1%, but not 0%) and just let your accounts age. The biggest setback you could have is a late payment, so do what you need to to make sure you have the money and remember to pay on time.
11-01-2012 09:53 AM
And just to throw this out there - when you start thinking about a mortgage, your DTI will matter as well. I have a friend who has a great score but her DTI is a bit titchy based on her student loans. But you look to be in fairly good shape, score-wise.
11-01-2012 07:32 PM
11-01-2012 09:08 PM
Thats great, nice to know that it's still possible to have a great score with insane ammounts of student loan debt.
11-02-2012 05:37 PM
I'm about 50K in student loan debt and I'm up there...
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† 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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.