What is a good credit score to have when applying for a loan?

Credit and mortgage advice Forums Consumer Credit Improving Your Credit Score What is a good credit score to have when applying for a loan?

This topic contains 1 reply, has 2 voices, and was last updated by  Anonymous 8 years, 1 month ago.

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  • #205202


    I just finished ordering my TransUnion credit report and score online from transunion.com. It says my current credit score is 757. Is that considered good? The reason I ask is because I was thinking about going to my local bank next week to apply for a $1,500 loan to get some much needed car repairs. I have plenty of avaliable credit on my credit card but would prefer to get a loan so that I might be able to get a lower interest rate. I always try to pay my bills on time and really need this loan. What are my chances of getting approved with a 757 credit score? Should I even bother applying or will I be wasting my time?

  • #280036


    Your credit is in good shape. Your best bet for a loan is probably to get a credit card with a low introductory rate and pay it off before the introductory rate expires. You might also see if your mechanic will let you pay in installments.

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