Repair Credit Score

Archive for February, 2011

Question: free Credit Report scores?

Does anyone know where i can get my free Credit Score i know the government has a site where you can get a free report once every year

Answer: The site you're thinking about is www.annualcreditreport.com. But you can't get a free score, it's a free report. You're entitled to a free Credit Report from each of the three credit reporting agencies once every twelve months.

The Economy vs. Credit Score

Question: What is a PLUS Credit Score (for example 701)?

I use a service through AMEX that keeps me posted about changes to my credit rating. They check the three agencies, but they call it a PLUS Score. What do they mean?

Answer: This should explain it to you.

FICO scores from 300 to 850 and Vantage scores from 501 to 990.

Here is the breakdown for both systems.

Vantage Plus system scores from 501-990.
A-901-990
B-801-900
C-701-800
D-601-700
F-501-600

FICO system scores from 300-850.
Elite-740-& up
Prime-700-739
Preferred-660-699
Standard-625-659
Sub-prime-624-& under

FICO is the only one that matters since it's the one that all major lenders look at.

Since you say this is a Plus score that means it's the Vantage system so you would be rated a C.

TrueCredit Holiday Scale 2008

Question: What would be the lowest Credit Score for a home loan if you had 35% down. Possible Interest rate also?

On a home with an asking price of 149,000.

Answer: I would not look at it with this attitude. Instead- talk with a great local loan officer (not over the internet and not with a major bank).

Tell them how much you want to spend, about your credit and why it is that way, and about your steady job and income.

A really good loan officer would be looking for a type of loan that will work for you.

680 Credit Score Good Or Bad