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Do you need a perfect or 800 score

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Re: Do you need a perfect or 800 score


@ronron66 wrote:

She set my shirts on fire beacue I threw out some EMPTY boxes of hers.  She said since I destroyed her "things" she would destroy mine.  It was a walk in closet where the shirts were and it set EVERYTHING in the closet on fire.  Caused 140K in structural damage and 90K in personal damage.  I still had a mortage so Allsate HAD to cover the lien holders and pay them off.  SHE had to pay 90K to stay out of jail.  If this had happend in 26 other states other than Ohio, the insurance company would have been obligated to cover (innocent spouse doctrine )

But Ohio does not have such rule.

 


Smiley Frustrated

 

It's amazing what you learn about state laws when crazy crap happens to you especially when it comes to marriage and divorce.




Message 11 of 13
Community Leader
Super Contributor

Re: Do you need a perfect or 800 score

What SJ said...


Daily Drivers: Penfed Platinum Rewards; NFCU GoRewards; Discover.. Fico 8: EX: 758; TU: 746; EQ: 762
Message 12 of 13
Moderator Emeritus

Re: Do you need a perfect or 800 score

Point of fact my HELOC APR is currently at 5.25%

Given that is still low compared to the majority of lenders, and I got it under a 700 at the time, I would argue an 850 is indeed irrelevant.

Case in point I took a 30D and 60D on EQ and TU respectively that took me down to 750 and no lender cares apparently (Chase, Citi, US Bank, various CU’s).

If you are above a 720 you have access to almost everything except perhaps best rates on personal loans and mortgages: both of those are around 760 and there’s plenty of buffer unless you want to open 10 credit cards at once: but there you will likely start hitting a wall for things that don’t have anything to do with FICO directly.



        
Message 13 of 13