what is a decent/average credit score?

[pogs]

Hello All,

I am checking my credit score and would like to know what score is good/avg?

What range is considered bad, or above average or excellent?

Thanks,
pogs :cheesygri

[ynot]

RTFM (http://www.myfico.com/Downloads/Files/myFICO_UYFS_Booklet.pdf)

[pogs]

RTFM (http://www.myfico.com/Downloads/Files/myFICO_UYFS_Booklet.pdf)

Thanks Mon.:D

[help_questions]

I took a look at the link that was provided....very interesting info. So I just want to confirm that I need to check with all 3 credit reporting agencies to determine my credit score? and the three are:

■ Equifax:
(800) 685-1111, www.equifax.com
■ Experian (formerly TRW):
(888) 397-3742, www.experian.com
■ TransUnion:
(800) 888-4213, www.transunion.com

I am new to this, so just want to be sure.
Thanks in advance.

[sslinn]

Hello All,

I am checking my credit score and would like to know what score is good/avg?

What range is considered bad, or above average or excellent?

Thanks,
pogs :cheesygri

680 or better will get you the best rates and that is what CMHC requires for insuring a no downpayment mortgage.

[chococrazy]

uh.. that pdf is for US residents.

Basically, it's Transunion and Equifax. Google for the Canadian web sites.

[oeketer]

680 or better will get you the best rates and that is what CMHC requires for insuring a no downpayment mortgage.

agreed.
650 or higher will get you decent rates, as well as approval from most lenders. CHMC will require a downpayment most likely.

680 or higher and you should have no problems in regards to your score.

[sslinn]

agreed.
650 or higher will get you decent rates, as well as approval from most lenders. CHMC will require a downpayment most likely.

680 or higher and you should have no problems in regards to your score.

Good point. the CMHC guidelines are attached:

http://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/hopr/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=125831

[adamtheman]

If you've got over 700 then it doesn't really matter.... I have around 720 and I've yet to find anything I can't get approved for. Mortgage, Car Loan, Credit Cards are easy to get. To get over 700 is also very easy... I've only had credit for 3 years. Anything over 700 is only for bragging.... income becomes far more important (or your ability to successfully lie about your income)