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What can my scores qualify for?

Member

What can my scores qualify for?

My scores are

721
717
719

My credit history is really short.. 6 months..
Message 1 of 17
16 REPLIES
Established Contributor

Re: What can my scores qualify for?

What are you wanting?

What scoring model are those scores from?

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (9/10/2018): FICO 08 EXP: 713; TU: 727; EQ: 765
2018 Goal Score: 720 across the board


Take the myFICO Fitness Challenge
Message 2 of 17
Member

Re: What can my scores qualify for?

I'm more looking into a loan for a business startup or maybe purchase a existing business.

And these scores are fico 8.. Experian.com provided these.
Message 3 of 17
Super Contributor

Re: What can my scores qualify for?

Credit profile is far more important than credit score.  Generally, as credit profiles improve, scores follow suit.  With any 2 given equal scores though, you can have dramatically different profiles.  

 

For example, take two people with a FICO 8 score of 730:

 

Cornelius has a 730 score with a clean file, but it's super thin (only a couple of accounts) and his oldest account is just 9 months.  

 

Rupert has a 730 score with a dirty file (4 accounts with late payments, 2 of which are 90-120 days late), but it's very thick (20+ accounts) and his oldest account is 20 years.  

 

As you can see, score is just one small piece of the entire picture. 

Message 4 of 17
Regular Contributor

Re: What can my scores qualify for?

With those scores and pretty new to credit i would say walmart for sure




Message 5 of 17
Member

Re: What can my scores qualify for?

Do you think I should apply for more cards and just pay them off?
Message 6 of 17
Regular Contributor

Re: What can my scores qualify for?

i have a loan with prosper but i had a year of credit history




Message 7 of 17
Super Contributor

Re: What can my scores qualify for?


@MrYoung420Do you think I should apply for more cards and just pay them off?

I don't think you should apply for anything until you educate yourself for a good month on this forum.  My gut tells me that you're more or less just shooting from the hip as far as your credit decision go currently.  IMO, that should never be the case and people should be making completely informed decisions that impact their credit profile.

 

My advice to you would be to take the month of July and just read here as much as time permits.  Learn as much as you can and ask a lot of questions.  After a month, you'll probably possess 2X-3X the knowledge that you do now.  More knowledge = better/more informed decisions. 

Message 8 of 17
Member

Re: What can my scores qualify for?

For sure I'm doing research. But I did apply for the CO card. And after just having two cards I'll be satisfied and work with that. I'm not looking into major purchasers anytime soon.
Message 9 of 17
Regular Contributor

Re: What can my scores qualify for?

I would suggest waiting for atleast another 6 months before applying for a card. As BrutalBodyShots said, learn, educate and research as much as possible. The more you know, the more informed decision you can make. 

 

But, to answer to your question - it really depends on what kind of card you want and what benefits are you looking for? Cashback? Travel? Dining? Etc. There's many cards that are out there but in the end it depends on what you want and what you are looking to use the card for. Some more info would help!

 

Good luck!

Message 10 of 17