Established Contributor
jamie123
Posts: 810
Registered: ‎03-22-2012
Re: Interpreting Your FICO Score

Larry63 wrote:

My Fico score is 748. I'm employed, with ample savings. When I apply for a cc, I'm denied. I took out and paid 2 small loans in the past 24 months. My understanding is a score over 700 is very good. I'm lost....


Credit card companies are a bit quirky about this. They don't want to be the first one to lend you money no matter what your score. You could have your house paid for and 1 million dollars sitting in your savings account but you will still have a hard time getting that first credit card. The lenders want to see a history (6 months to 1 year) of good credit behavior before issuing one of their prime cards. You probably just applied for the wrong type of card.

 

I'll help you get that card!

 

What card did you apply for?

 



Starting Score: EQ 658 6/18/12
Current Score: EQ 696 9/5/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
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