What is a good credit score?


Non-subscribers can read and sort comments but will not be able to engage with them in any way. If you don't need to know your score, you can order a free report. Of course he still gloats, but our scores helped us impress a landlord who approved our application for the beautiful apartment we'll move into next month, so I'll put up with it for now.

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Be careful not to sign up accidentally for an ongoing report, for which you will be charged monthly. I did without realizing it, and cancelled as soon as I received an e-mail giving me an automatic update on my score. If you don't need to know your score, you can order a free report. To find out how Don could have possibly beat me, I called Nadim Abdo, vice-president of client solutions at Equifax Canada. I explained that even though our scores were both marked "excellent," Don's was higher than mine.

To help me understand the way credit scores work, Mr. Abdo explained the following:. The company tracks how this population pays back all kinds of debt, including credit cards, lines of credit, bank loans and car loans. The banks only started reporting mortgage information to Equifax a couple of years ago — soon that will be included too.

Which means, of course, you need to first have some debt to repay. For an institution like a bank or credit union looking at your credit, anything over is "a no-brainer. I asked him if people should get a credit card — and use it smartly — in order to establish a good credit history. Abdo also told me that credit scores are only one of several tools that credit agencies use to determine your credit-worthiness.

We do it through looking at their past history and see how they've paid back debt. I asked if Don's score could be higher because he's had more debt to pay back, but Mr. Abdo said in our case that shouldn't make a difference.

He said you need at least an open and active credit file to establish a credit rating and after that, "it's the more the merrier, as long as you're being responsible and not overextending yourself. With that, I thanked Mr. Abdo for his time, feeling relieved that I hadn't really "lost" this one to Don.

Of course he still gloats, but our scores helped us impress a landlord who approved our application for the beautiful apartment we'll move into next month, so I'll put up with it for now. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way.

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Read our community guidelines here. Article text size A. Open this photo in gallery: The standard that people get from the Internet, the auto enhanced which only car dealers and lenders see and the factual which only mortgage people see. The last two are not available to the general public.

Add to this that unless you get your scores either direct from either Equifax or myfico. Credit scores are based on the last months of activity, and they can change daily depending on what information has been submitted by your creditors. I don't know what numbers your looking at but it's obviously not a real credit score.

Finance Manager for over years, edition Consumer Action Handbook. For Finance and credit solutions I visit this website where you can find all the solutions.

Almost sure that you must find all financial answer at: I think in order for credit score to be good it has to be at least in the 7's Maybe you should check if you own any money to places to get your credit score good. That score doesn't exist. The lowest is The higher the number, the better.

I didn't know it was possible to have a score that low. If that's really your score, it's awful. Is the number from the show "New Girl"? Sorry if its not. Credit score and credit report? Fico score, credit score question.? Credit score and credit score history? Answer Questions What am I going to do about my credit card debt??

What is a credit note?





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