670 a goal score for those of us that started in the crapper?

[jons998877]

Is that a fair assessment as it when one goes from fair to good and auto rates drop and prime card chances increases..

[Peazmom]

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@jons998877 wrote:

Is that a fair assessment as it when one goes from fair to good and auto rates drop and prime card chances increases..

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I totally did a happy dance when mine FINALLY hit 670!  I set the alerts on MYFICO account to notify me when I hit 670.

[simplegirl]

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@jons998877 wrote:

Is that a fair assessment as it when one goes from fair to good and auto rates drop and prime card chances increases..

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Most people try to go straight to 700 but for me 670 would be an awesome leap from where I’m coming from now. 

[Anonymous]

670 would certainly make me do a happy dance. The problem I'm working through is patience. I'm getting better though, whenever I'm stalking my reports, or waiting for an alert to a change, I just come here to read, and try to contribute

[BallBounces]

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@jons998877 wrote:

Is that a fair assessment as it when one goes from fair to good and auto rates drop and prime card chances increases..

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Sure, 670 is a good benchmark to show improvement, from fair to good.   Approvals can increase. Rates can drop.  I will definitely be happy when I go back above 670 across my benchmarks.

On the other hand, it is not a panacea for high rates, AA and application denials.   You can definitely still get declined for example if your 670 includes something that the card issuer does not like, or if "good aint good enough".

[jons998877]

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@Anonymous wrote:

670 would certainly make me do a happy dance. The problem I'm working through is patience. I'm getting better though, whenever I'm stalking my reports, or waiting for an alert to a change, I just come here to read, and try to contribute

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Thats how I am now, feel like there is nothing I can really do but garden... I have no unpaid colections or chargoffs.. waiting for the AAoA increase (currently 5 months) and the bad stuff age, with some falling off this year, but 3 baddies there until 2023 or 2024 with no luck with GWs...

[calyx]

I think the biggest, and most frustrating, thing people do is set their immediate goals too high.

When I started, my goal was 640... then 680 (I wanted a little wiggleroom above 670), then 700, then 720...  and then 'clean' reports and different colored spades.

I think when someone in the 500s sets 700 as the carrot in front of their nose it's just really easy to get disappointed in the time it takes to get there.   I really lucked out and my score rose quickly once I got a good grip on them, but it happened in spurts - the doldrums of the 650s might have been torturous, but I got there eventually without too much frustration since I was shooting for 670/680 instead of 700.

And 670 is great.  My EQ took a 26pt hit the DAY BEFORE my car died (unexpected reporting, thanks Sync), so when I went to get a loan, it was just above 670 and I still scored a 3.29%APR on the new loan.

[FireMedic1]

The benefits of having a good score can be well worth the effort. Imagine your credit score was 660, putting it in the fair range. Improving your score  to 700 would move you to the good range, opening you up to new borrowing options and better terms.  Though it does help in the score range the higher the score even though its considered good per say.

FICO scores range from 300 to 850:

• 800+ is exceptional.
• 740 to 799 is very good.
• 670 to 739 is good and represents the median credit score range.
• 580 to 669 is below average.
• 579 or less is poor.

Here's chart to compare rates from FICO.

[Remedios]

Any score is just a numerical representation of your entire CR 

670 on a young file is more likely to get a denial than thick, aged profile with the same  670 

It's the reasons behind the score that count the most, as so much goes into it. 

You can have 750 with a year worth of credit history, but you wont get the best rates. You could have 670 with 10 years and get a lot better rate. 

My scores are okay, but I have too many new accounts and would probably get a denial from everyone. Currently,  my scores are for show and tell. Nothing I can do with them 🤷

[newmomnewme]

670 is definately a milestone you will all hear me screaming happily about and even louder when I hit 700.  

Currently, I am stalking my mortgage scores (EQ finally hit 640 YAY!!)...the difference in rates for 700+ mortgage scores is crazy!

Keep up the good work everyone.