what could a 639 get?

[Anonymous]

Lol @sarge12 I tend to get diarrhea of the keyboard. It’s easy to miss my main point in among all the rest.

[sarge12]

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@Anonymous wrote:

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@sarge12 wrote:

Not trying to be smart, but lenders do not grant approval based entirely on someones score. The score is an important piece of info for them, but it is not the only info they look at.

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Agreed 100%.  I wouldn't even put credit score in the top 3 pieces of data that a potential lender looks at, maybe not even the top 5 depending on the circumstances.  Too often people seem to think that credit score is Number One.

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I have even heard that it sometimes does not even depend on the borrowers credit. A lower score usually involves more risk, but higher reward for the lender. A middle score represents less risk and less reward, and high scores represent almost no risk but little reward for the issuer. I read or heard that the issuers have target goals for each credit risk catagory. If a higher credit score already comprises too high of a percentage of the issuers total clients they may not try to get their business. In general during a good economy the higher risk debtors are the most lucrative. If the economy declines, the higher risk clients face layoffs or job losses, and lower risk clients might start carrying a balance. I do not know if all this is true, but it would explain why sometimes a higher credit score gets declined and lower scored gets approval.