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747?

Established Member

747?

I know a score of 747 is good (Equifax), but how good is it?  Is it good-mortgage-rate good? rewards card good? CLI-is-likely good?

 

I'm not sure of how it compares to average, or where it puts me as far as rates on an auto loan, mortgage (eventually!), getting better CC products, etc.


Starting Equifax Score: 747
Current Equifax Score: 747
Goal Equifax Score: 775


Take the FICO Fitness Challenge
Message 1 of 5
4 REPLIES
Valued Contributor

Re: 747?

Hi Liz...

 

Yes, 747 is a pretty good EQ FICO. (It is a true FICO, isn't it? Did you get it from this site or directly from Equifax?)

 

With that score, you should have no problem qualifying for a mortgage, and most credit cards shouldn't be a problem. The caveat, however, is that to qualify for those things you still need to have sufficient income. Also, the rest of your debt will be considered. You can also get turned down for mortgages and credit cards (including CLIs) because of income and debt. Your FICO score is only one piece of the puzzle.

Message 2 of 5
Established Member

Re: 747?

Currently my income is nowhere near enough to qualify for a mortgage!

 

But hopefully that will change over the next couple of years, so it's good to know that as long as I maintain my current credit habits (or even improve them!), I'll be in a good position.


Starting Equifax Score: 747
Current Equifax Score: 747
Goal Equifax Score: 775


Take the FICO Fitness Challenge
Message 3 of 5
Super Contributor

Re: 747?


LizF wrote:

But hopefully that will change over the next couple of years, so it's good to know that as long as I maintain my current credit habits (or even improve them!), I'll be in a good position.


+1

12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 4 of 5
Senior Contributor

Re: 747?

You also want to work on broadening your credit experience if you have a thin file or short history. A "Fragile A" credit score based on a thin credit file is severely discounted by most credit issuers.
Message 5 of 5