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credit sore

Is a credit sore of 605 decent?

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Anonymous

Asked by Anonymous at 9:47 AM on Feb. 21, 2009 in Just for Fun

Answers (5)
  • Not even close. You need to have a score of 700 or better to get decent interest rates.
    Freightgal

    Answer by Freightgal at 9:49 AM on Feb. 21, 2009

  • 720 to 850 - Excellent

    660 to 720 - Average

    300 to 660 - Bad


    I know a lot of places break it down even further than that, to show a "High Risk", "Medium High Risk" "Low Risk" and then move on to "average", ect.

    If you get your free credit score through Experion, there will be a little graph with your score on it telling you if it is good or bad. According to them (and I only know cause I have the same score actually) 605 is a "Medium High Risk". So its not the worse you can get, but for sure start working on it.
    CarolynBarnett

    Answer by CarolynBarnett at 9:57 AM on Feb. 21, 2009

  • Oh, and I copied those reference ranges from this site:

    http://www.yourcreditwatchdogs.com/GoodCreditScore.aspx
    CarolynBarnett

    Answer by CarolynBarnett at 9:58 AM on Feb. 21, 2009

  • Here's a good link that explains your credit score, and why it is low. In time, some of the "top 10 reasons" will "fall off" and no longer be a factor, others such as closing and cutting up credit cards (consolidate them in to no more than 2, and getting rid of department store cards) is a fairly quick way to turn your score around, and of course pay more than the minimum due, well before the payment due date!


    https://www.wellsfargo.com/credit_center/credit_status/understand/interpreting

    LoriKeet

    Answer by LoriKeet at 9:59 AM on Feb. 21, 2009

  • Just remember, a FICO score just means you worship debt!

    Check out www.daveramsey.com. The Total Money Makeover is a true blessing to our family!
    patobello

    Answer by patobello at 12:14 PM on Feb. 21, 2009

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