Look at the interest rate versus FICO tables, and you'll see the curve begins to go asymptotic around FICO 700. In other words, boosting your FICO from 600 to 650 improves your credit options and interest rate far more than going from 700 to 750, and going from 750 to 800 matters little in terms of the interest rate you will receive. Above the mid-700s, the curve is just about flat.
The 600s are really the inflection point...below 600, the credit system pretty much views you as pond scum....granted, there are gradations of pond scum, but anything below 600 or so locks you out of most credit opportunities. Above 700, you can get just about any loan you want. True, if you go into the higher 700s some fees might go down a bit and interest rates will be a little lower, but anything in the 700s or higher means you made the grade.
Message Edited by TheNewWorldMan on 04-26-2007 08:01 PM
