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These two numbers can literally change your life and can impact every aspect of your living style. If you have an 850, you can pretty much do anything - buy a house, get a nice car, have credit cards and get approved for any loan you want. But, if you have a 300, good luck getting approved for anything, even a credit card will be near impossible.

Are you buying a house or renting and how long have you lived there,

10,000 to putdown. How did you do, Loan 575 credit score, nThere are other requirements for a loan besides your credit score. How much debt do you currently owe, How much do you make a year and how long have you had your job, Are you buying a house or renting and how long have you lived there, Do you own anything, have any money in a saving account, any assets,

• Types of credit accounts


• 620 - 679 - Average


• 720 and above - Excellent


• 500 to 580 scores poor


• 580 to 619 scores low


• Whether or not you will be hired for a job you are seeking


• 680 to 699 scores good

If you have managed to maintain a score of higher than about 750, then you'll be available to receive the lowest rates on any type of loan (for the most part). Your financial history is in such a good credit score range that your credit report might as well have the word "dependable" stamped across the front page.

What makes a good one, How does it affect my financial freedom and value, This article will hopefully answer all of those questions. Credit Score stems from what many know as a FICO score. The acronym FICO boils down to Fair Isaac Corporation. Fair Isaac is the California company that developed the actual system. What Does A Credit Score Do, In fact, it should almost be considered as important as getting a college education, and if you have a poor score, it can always be improved, but the goal should be to keep your score at a good level. A good credit score really can make a big difference to your life, as well as potentially saving you money. Just a small difference in your score can make a big difference to the interest rate that you are given on a loan, which can add up substantially over the course of several years.

In short, your credit score is that thing that could make or break your credit application. A credit score is primarily based on credit report information, typically from the three major credit bureaus. Moving the balance to other accounts and closing a previous one can just hurt the points you have. Are you married, and if so does your spouse work, do you have any dependents, Is obtaining either a home equity loan or a home equity line of credit based on your credit score, I cannot think of any time when borrowing money that credit is not a considerable factor. So, yes, your credit score is a factor when borrowing money for either a home equity loan or a home equity line of credit.