- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Is there any meaningful difference between an 801 and an 850 credit score?
Posted on 5/31/20 at 10:52 pm
Posted on 5/31/20 at 10:52 pm
Thanks
9
Posted on 5/31/20 at 10:59 pm to Zachary
49?
Seriously, I don't think it really matters.
Seriously, I don't think it really matters.
Posted on 5/31/20 at 11:02 pm to LSUSUPERSTAR
You should be able to get in debt over your ears with either score. But you'll feel more nostalgic about it with the 850.
Posted on 6/1/20 at 7:01 am to Zachary
This isn't my area of expertise but I think the last tier starts below 800 FICO, actually.
Posted on 6/1/20 at 8:28 am to Zachary
quote:
last tier starts below 800
This.
I just bought a new vehicle and refinanced my house and the loan officers said once you hit 800 there is no difference in the interest rate they offer. They said it goes by tier. Not sure if it is relevant in other areas or if you use a smaller bank.
Posted on 6/1/20 at 9:10 am to Zachary
No
If you have over a 740 you are top tier
If you have over a 740 you are top tier
Posted on 6/1/20 at 9:40 am to Zachary
At 830 you get to strike people with scores below 350 in the face with impunity.
But only with a silk glove
But only with a silk glove
This post was edited on 6/1/20 at 9:41 am
Posted on 6/1/20 at 10:16 am to Zachary
This looks like a good thread for my question
We’re car shopping, if a dealership pulls my credit score, will my score drop like thirty points? Full disclosure- it’s in the “good” range
I don’t plan on multiple places doing that. Just curious.
We’re car shopping, if a dealership pulls my credit score, will my score drop like thirty points? Full disclosure- it’s in the “good” range
I don’t plan on multiple places doing that. Just curious.
Posted on 6/1/20 at 11:42 am to Zachary
No, 740 and up are equals with regard to credit quality
Posted on 6/1/20 at 11:47 am to kywildcatfanone
quote:
No, 740 and up are equals with regard to credit quality
I’m completely ignorant on this issue but 740 seems low for the floor for the “top tier.”
Posted on 6/1/20 at 11:58 am to stewie
740 is considered “excellent”, there isn’t a tier above that.
Posted on 6/1/20 at 11:58 am to stewie
quote:
I’m completely ignorant on this issue but 740 seems low for the floor for the “top tier.”
Yeah that surprises me too. I just took out a loan and the bank game me a rundown and the report said at 754, my credit score is only better than 60% of the population. So by that logic, 40+% of borrowers are top tier?
Posted on 6/1/20 at 12:09 pm to alajones
quote:
We’re car shopping, if a dealership pulls my credit score, will my score drop like thirty points? Full disclosure- it’s in the “good” range
I don’t plan on multiple places doing that. Just curious.
1) of all the factors that go into the credit score, hard inquiries probably have the least impact. So doubtful it'll drop you by 30. Usually 5-10 points
2) When it comes to hard inquiries, it's usually assumed that to some degree you will "shop", so multiple inquiries within a short time frame have minimal impact on your score. So in reality it behooves you to do make multiple inquiries to get the best rate.
3) Unless you are making successive large purchases or opening new credit lines (i.e. buying a car, then a house, refinancing and then opening up credit cards, etc.), it shouldn't really matter if it dings your score anyway. It'll stop affecting in about a year.
Posted on 6/1/20 at 2:05 pm to Puffoluffagus
I would be more concerned about dings... I had a hacker take something like 3 dollars out of an account.... then I didn't pay that account and didn't notice. it cost me 1/4 of percentage point on a mortgage.. when my credit score just dropped enough ouf of the excellent range
Posted on 6/1/20 at 6:45 pm to Zachary
According to Experian 800-850 is “exceptional”. 740-799 is “very good.”
This post was edited on 6/1/20 at 6:46 pm
Posted on 6/1/20 at 9:34 pm to SDVTiger
quote:
No
If you have over a 740 you are top tier
I just bought a vehicle and 740 got you best interest rate available at my credit union
Posted on 6/2/20 at 9:06 am to Zachary
no difference at all. never seen any type of lender that had a another tier above mid 700s. But with that said, you have to make sure you are looking at the right score as there's various models that can vary substantially. Also only take Credit Karma's scores with a grain of salt if you are using that.
Posted on 6/2/20 at 9:19 am to MexicanTiger97
I appreciate y’alls help. I sold cars for two years a while ago and I knew it dinged it a little. But you alls responses jogged my memory.
I haven’t financed a car in 20 years. I imagine once the bills start showing up I’ll remember why.
I haven’t financed a car in 20 years. I imagine once the bills start showing up I’ll remember why.
Posted on 6/2/20 at 9:32 am to MexicanTiger97
also multiple credit checks in a short period should get consolidated into one calculation so that consumers dont get unfairly dinged for shopping around, atleast for home and car lender credit checks.
Also I would not use a dealership lender... they almost never will give the best rate especially if you dont walk in with a pre-approval for them to try to match or beat
Also I would not use a dealership lender... they almost never will give the best rate especially if you dont walk in with a pre-approval for them to try to match or beat
Posted on 6/2/20 at 10:13 am to prostyleoffensetime
quote:
I just took out a loan and the bank game me a rundown and the report said at 754, my credit score is only better than 60% of the population. So by that logic, 40+% of borrowers are top tier?
It's a pretty binary outcome, you can't pay your bills on time better than another person
Having timely payments gets you into the 700 territory, everything beyond that is sticky tacky bullshite like, how many active accounts or how much of your total credit are you using, number of recent credit inquires, etc.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News