750 Credit Score
It is quite possible to build a good credit history fast. The faster this happens, the more advantages of the US financial system you have. But for this to happen, you need to follow a few rules.
- Is a 750 credit score good? You can find out your credit history at AnnualCreditReport.com.
- This number cannot be less than 300 and more than 900.
- The credit cannot be equal to zero, but it can simply not exist. This happens when you just arrived in the United States, received an SSN (social security number), and have not yet passed even six months from the moment you received it. Otherwise, you can have a credit score up to 750, but an average credit score is lower than 750.
- To check whether 751 is a good credit score you need to fill out the form, indicating the SSN number. Once a year it is free. If you want to check your credit more often (and this is logical), then you can use the following sites:
- equifax.com ($ 19.95 per month);
- transunion.com ($ 9.95 per month);
- experian.com ($ 1 for 7 days, then $ 21.95)
- Until the moment your credit score is more than 630, many things will be inaccessible to you. For example, you won't be able to connect to a post-paid mobile phone. But the trick is that post-paid rates are the most profitable. For post-pay tariffs, you need not less than 670-750 credit units, or in other words, 750 credit score.
- The FICO score, which is used by 90% of banks to check your creditworthiness. The credit score scale below shows what is a 750 credit score.
Credit score scale
|
630 |
Minimum In fact, this is a lack of credit history. |
|
630-690 |
Satisfactory. Available credit limit - from $ 300 to $ 700-1000, expands with an absence of late payments. |
|
690-720 |
Good. The credit limit can be expanded up to $ 2000-3000; the confidence is increased. |
|
720-850 |
Excellent. Credit limits of about $ 5,000 are available for each account, interest rates have been reduced. |
As a rule, banks are reluctant to work with those with a credit history less than 5 years old. The gradual building of a good story is essential; therefore a story from 8 years old and with a 750 credit score is often called perfect. It is believed that by achieving a 750 score a person clearly shows a responsible or, on the contrary, careless attitude to money. With a better score you can apply and get approved for the best loans at lower rates.
How to get a 750credit score
Take into account the number of lines of credit (accounts). The more correctly repaid loans you have (absolutely everything is taken into account, even transactions that did not go through banks - rent, installments, whatever), the better. The ideal is considered to be about 15-20 lines of credit over 5-8 years of history to achieve a 750 FICO score.
