topic Re: What is the minimum score... in General Credit Topics

What is the minimum score...

Anonymous — Wed, 01 Aug 2007 20:24:09 GMT

...That you need for people to stop thinking you need advice?

It seems that a lot of threads on this message board where people talk about judgements, or their super low Fico's get a lot of attention. I've also noticed when someone mentions their scores are not super low or low people aren't as interested in talking.

So what do you think it is guys? Once a person hits 680? 670? Even someone with a 720 is just average and could stand to try and reach a score of 750 or something.

If we were grading scores like a report card a 700 score would be a C-
720 would be a C

It's like "oh no man--if you're not in the 500's or low 600's why should you need advice?

Re: What is the minimum score...

Anonymous — Wed, 01 Aug 2007 20:30:54 GMT

Maybe they don't have advice for that person? Perhaps that particular question requires advice from a professional? People in the 500s probably ask simple questions (maybe not so simple to them obviously) so they get more responds?

Re: What is the minimum score...

Anonymous — Wed, 01 Aug 2007 20:43:27 GMT

People with 400-500 scores need a lot of advice because we have obviously made quite a few mistakes or don't have a lot of info about the importance of good credit history. I myself am a 500'er and a lot of what I see on the boards, I already know and then there are things that I don't know and I am sure when I get to the 650's and 750's there will still be questions, advice or suggestions that I am going to need answers to. Please don't feel slighted because some of us wish that we were where you are and trying to go and a I have seen a lot of "desperate" posts like mine that need some attention pronto. No one is better than the other on this board, no one's score means more than the other and no one's questions are more important than the next, just only to the person who asked the question.

Your questions and needs are just as viable and important as all the other thousands of us who post here everyday.

Eve

Message Edited by myhearts07 on 08-01-2007 01:43 PM

Re: What is the minimum score...

fused — Wed, 01 Aug 2007 22:00:30 GMT

rifleman wrote:
...That you need for people to stop thinking you need advice?

It seems that a lot of threads on this message board where people talk about judgements, or their super low Fico's get a lot of attention. I've also noticed when someone mentions their scores are not super low or low people aren't as interested in talking.

So what do you think it is guys? Once a person hits 680? 670? Even someone with a 720 is just average and could stand to try and reach a score of 750 or something.

If we were grading scores like a report card a 700 score would be a C-
720 would be a C

It's like "oh no man--if you're not in the 500's or low 600's why should you need advice?

When it comes to credit, credit repair, credit recovery (this from TNWM) or what have you, there is no cut-off score. I am learning to appreciate just how much I still don't know about the world of credit. And this is coming from someone with FICO high scores.

Message Edited by fused111 on 08-01-2007 12:00 PM

Re: What is the minimum score...

Anonymous — Wed, 01 Aug 2007 21:12:50 GMT

@Anonymous wrote:
What is the minimum score ... That you need for people to stop thinking you need advice?

849 1/2.

Re: What is the minimum score...

Anonymous — Wed, 01 Aug 2007 21:21:05 GMT

We'll, mine is 432. How much lower can you get. I am new on here and am trying to find a way to improve also. Yep! I wish I was even at 520. I check everyday on the scores and nothing! I have even paid some of mine off last month and wrote disputes and nothing.

One day I'll be able to say Score went up 40 points. I will be excited like everyone else.

Re: What is the minimum score...

sl — Wed, 01 Aug 2007 21:25:00 GMT

I dont' think there is a score where people don't need advice. Hubby has a very high FICO 830 and he is learning things from me that he never new.

I say post away with questions, progress, and continue the fico education.

Re: What is the minimum score...

Anonymous — Wed, 01 Aug 2007 21:34:26 GMT

To me a 700 is a A. I really wish my score was a 700 now. My current score is aroung 600 (achieved through hard work).

iwantgoodcredit wrote:
We'll, mine is 432. How much lower can you get. I am new on here and am trying to find a way to improve also. Yep! I wish I was even at 520. I check everyday on the scores and nothing! I have even paid some of mine off last month and wrote disputes and nothing.

One day I'll be able to say Score went up 40 points. I will be excited like everyone else.

Re: What is the minimum score...

sl — Wed, 01 Aug 2007 21:36:26 GMT

It takes time. I started working on my credit about 2 years ago, but did not get serious aobut it until January of this year and since March it has increased 32 points.

Re: What is the minimum score...

Anonymous — Wed, 01 Aug 2007 21:49:00 GMT

Let me guess. 650-679

Re: What is the minimum score...

Anonymous — Wed, 01 Aug 2007 21:57:14 GMT

My FICO's run in the very top 600's and very low 700's, but I must say, there have been a ton of folks that have helped me out in learning how to better my credit and dispute items from my BK.

I think the difference is that there may be people who just recently went through a BK and are already working on their scores that may already have a pretty good handle on how to work through the process. I, on the other hand, ignored my scores after my BK and just dealt in cash mostly and now 6 years later, I am trying to clean up the last little bits. If I had started all this years ago, I would probably have a better idea of what does and doesn't work.

I would encourage everyone to share whatever particular knowledge they may have. You never know when someone else out there may be having the same problem that you have already dealt with.

Re: What is the minimum score...

MidnightVoice — Wed, 01 Aug 2007 21:57:41 GMT

rifleman wrote:
...That you need for people to stop thinking you need advice?
I've also noticed when someone mentions their scores are not super low or low people aren't as interested in talking.

OK, so I have just been in an active thread from someone who has scores over 800 and a $75,000 total CL.

So I guess the answer really is "over 825-830"

Re: What is the minimum score...

Anonymous — Wed, 01 Aug 2007 23:05:44 GMT

I would say any credit score under 650 is something that should be urgently addressed, as it is likely exerting a parasitic drag on the holder's financial life in the form of higher deposits for services, denied loans, tougher credit terms, higher rates for insurance in many states, and so forth.

From 650 to 720, I think a user should take action in case he or she needs to obtain a loan, or gets to be in the market for a home.

Above 720 to 740, one approaches the asymptote for the credit score vs. interest rate curve. Other than geekery or snob appeal, there is little practical benefit to a score over 775 or so.