Having a credit score can mean the difference between qualifying for a mortgage and paying interest on a home loan. There are many variables involved in credit scores, such as the type of account, your income, and whether or not you make timely payments.
Is 969 a Good Credit Score?
Credit scores vary from lender to lender and can affect your insurance rates and the amount you pay for loans and credit cards. Generally speaking, your score is considered excellent if you score 760 or higher. However, you can still qualify for mortgage lenders in knoxville tn even with a poor credit history.
Fortunately, there are several steps you can take to improve your score. Getting on top of your bills is one of the best things you can do for your credit. Aside from paying your bills on time, it’s a good idea to limit the number of credit inquiries you make. If you are approved for a loan, make sure you use approved credit and keep your balances low.
You can also use a credit score to gauge the interest rate you’re going to pay. Most credit card companies use a credit score to determine the interest rate you’ll pay on your cards. Using a credit card that has a high interest rate will hurt your score in the long run.
There are many scoring models out there, each with their own score range. The best score is probably the one that contains the most points.