700 Score Required for GMAC Credit

[Anonymous]

I think things here at MyFico forums may even get busier with the announcement of GMAC Credit now requiring a 700+ FICO score.

[Junejer]

Hope that they pull TU for you, if you are looking for credit at GMAC.

[Anonymous]

I just think this is a thing to come.  I am not looking for new credit, but this announcement is going to be very common for many more companies to come.

[Anonymous]

Lefty - This past weekend, my local paper was advertising that for the best rates at the local GM and Ford dealer, you needed a 750. A Lexxus dealer verbally told me a 710 or 720 was Tier A. 

[dilligaf_racing]

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@Anonymous wrote:

I think things here at MyFico forums may even get busier with the announcement of GMAC Credit now requiring a 700+ FICO score.

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700 minimum to get approved? Looks like they are just going to be selling even less cars.

[Junejer]

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dilligaf_racing wrote:

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@Anonymous wrote:

I think things here at MyFico forums may even get busier with the announcement of GMAC Credit now requiring a 700+ FICO score.

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700 minimum to get approved? Looks like they are just going to be selling even less cars.

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They will be selling fewer cars, because they will be making fewer cars. They recently announced that they are closing a local plant here (Janesville, WI).

[fishbjc]

700 MINIMUM?  Looks like I'll be knocking on NFCU's door.  I hope they answer, lol.

[Anonymous]

Yes, I am glad I have been an NFCU member since 1983 and they have always been just with me. 

[demi]

Just saw this in the SacBee....apparently GM is concerned that their announcement may drive (no pun intended) away customers...want to make it clear you can still get a loan (with a 700 score).

 http://www.sacbee.com/840/story/1317256.html