We recently requested our credit scores/reports and today our credit scores came in the mail. I was curious what they would be with our high outstanding debt. Here's the scores:
Mine- 703
Hubby's - 697
I was googling to see what the numbers meant and here's what I found:
680-740: Good credit. Scores around 700 are considered the threshold to “good” credit. Borrowers in this range will almost always be approved for a loan, and be offered very good interest rates. At this credit score, lenders are comfortable with the borrower, and the decision to extend credit is much easier. According to FICO, the median credit score in the U.S. is in this range, at 723. Borrowers in this range are only delinquent 5% of the time.
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