Ok, I am confused... I got my CS up to 652.. I know it's not great, but.....
It shows that I am "low risk" for lenders, yet when you look at the "dial" it says that my credit is "not good"..
What score is "good" then? I am trying to wait to purchase my home when it says "good"...?????
Which score is it? EQUIFAX? TRANS UNION? EXPERIAN?
Where did you get the score from?
The score is from Equifax and it is from here on myFico
I believe the good here is above 680 or somewhere in that range.
I believe you're getting into semantics here. Good, fair, excellent, etc. Good just means there's a chance that you will qualify for debt, not the terms that is offered. It also depends on the creditor, what might be good for one, might not be for another.
Semantics can get confusing.
The EQ FICO "Good" range seems to be 680-720 approx.
720 is not the average, it is the median. Half are above that and half below but you can go a lot further down than up from 720 so the average is less. Since it isn't an absolute scale, the word average does not mean the same thing as it would for average age or something like that.
If you are looking for a FHA loan then the middle score of the three needs to be above 640 for most lenders. That means 680 EQ FICO from here means you are probably OK. Just check the info on TU and EX and make sure it is similar to EQ.
I just signed up for myFICO today, and it looks like my Equifax score is 677. SOOOOO close to "good"! :-/
myFICO EQ = 677
CreditKarma TransRisk TU = 664
CreditKarma VangageScore TU = 776 "C" (score was the exact same on TransUnion.com)
Quizzle EX = 683
On all of my reports, I have only one baddie (AFNI - ATT $166) that I PIF a few days ago and have been working on a GW delete and two inquiries on my TU. I am looking to purchase a home within the year. My credit union says that they currently offer 2.8% (no matter what your credit score is) on a 15 year mortgage with 10% down and generally look for a FICO of 650 or higher to qualify. They manually underwrite.
I have a car loan and a small $600 LOC that I keep a $20 balance on, no credit cards. Crossing my fingers that I get my GW delete or that my PIF will help my score and help me get my first home within a year.