Question

My credit score is 696... is that good.?

Interested in maybe getting a house one day, or renting or just trying to build my credit... is this a good score and what does it all mean?

6 years ago - 6 answers

Best Answer

Chosen by Asker

It's an OK score. Not great, but not horrible.

To the banks, it means "this guy will probably not default, but there's still a fair chance he might."

To you, it means "I either have too much credit card debt, or I missed a payment recently"

6 years ago

Other Answers

It is considered above average to excellent. It means you could pretty much qualify for any loan you want.

However, you can still bring it up. If you can get it in the 700's, you would get the supreme interest rates and the best credit offers. Check out the two articles below to see how to get your score up even higher. You can do it yourself...without any assistance from any companies.

Hope this helps.

Source(s)

by 1 Hr Bookkeeper - 6 years ago

Credit scores in the 700's, particularly over 725 are more desirable. Keep making minimum monthly payments on time, and you'll build it up in no time. You can look at your credit report once a year, for free, online, so when you get the report, in addition to your score, you'll see any outstanding debts, or any late payments. The report will also tell you when the bad item will drop off your report (most things stay on for 7 years). Make sure that everything is up-to-date, and that all charges belong to you.

696 isn't bad, but it should be much higher if you want to get home loans with lower interest.

by N S - 6 years ago

It isn't a bad score and it isn't the best. You need to be over 720 for the best of everything. Always pay your bills on time. Never carry a balance on a credit card that exceeds 1/3 your total credit limit and if you are already over that amount pay down the balances as quickly as possible. Do both of these things and you will be over the 720 mark very soon.

by BJ B - 6 years ago

It's above average. The average is 692. You're a little over it.

by mcrules100 - 6 years ago

Ah, the middle class mentality.

Before you do ANYTHING else, listen to this. Scroll down and click "Listen to Dave". JUST LISTEN.
www.daveramsey.com/tdrs/index.cfm/2...
This one audio clip of his CHANGED MY LIFE when I heard it.

Listen to this man for free, on the radio or online. This is like getting financial wisdom from Bill Gates except this guy has a national radio show.

by Renaissance Man - 6 years ago