If you are in the market for a new car, mortgage, or credit card, you might be concerned about your credit score. You may even be asking yourself, 'Do I need to fix my credit?' These days, it’s critical to have the right credit score because of the economic downturn and tightening credit requirements. You might be wondering what type of credit score you really need.
This question plagues people as they attempt to work on their credit score, striving to get that 'perfect 850' when they may not even need to reach that high! According to the experts, that really isn’t necessary. You might be scratching your head, wondering why you shouldn’t try for the score that's been put on a platter since scores were invented! Read on to discover why a different score is more appropriate—and why you may not need to ask, 'Should I fix my credit?'
You Don't Need to Shoot for the Moon, Dallas!
Achieving the top-level score of 850 may sound exhilarating. It may seem like you will have access to all the best lending opportunities if you reach this point. The surprising reality is that you really only need to gain a score of 760 to be on the inside track for those great interest-rate offers! If you want to ensure that you are completely safe with your score, then shoot for 780. That way, you have surpassed the threshold every mortgage lender looks for.
- According to the research on credit scores and lending, even excellent auto loans are achievable with a credit score of 720+, and mortgages look for 760+. That’s why if you strive for 780, you’re covered no matter what!
- Once you get to 780, credit lenders can tell that you pay your bills on time. They also see that you have a well-rounded financial portfolio.
- Your score also reflects how much of your available credit you’re using. The less you use, the better your score will be.
Trying to get your score much higher than 780 could be more stress than it’s really worth, Dallas. As your Credit Diva, we consider that a problem! Plus, lenders aren’t going to give much more weight to it than they will to the 780. Creditors know that, with that score, you are reliable and trustworthy.
However, if your score falls below 720, then creditors will look at you more skeptically—and you have reason to ask, 'Do I need to fix my credit?' You'll no longer have access to those juicy interest rates. A lower score may also lower the amount of credit to which you have access.
- What can you do if your credit score is low?
- How can you bring it up to an acceptable number?
For one thing, there may be items on your report that are not accurate—or that can be refuted with the right help from your Credit Diva! If you’re worried about your credit, don’t be disheartened: you can see your score increase several points when you get your credit repaired.
With the appropriate credit assistance from Credit Diva, you can elevate your score to a range that will get you the best rates among lenders. Getting competitive interest rates will help your financial goals by lowering your monthly payments and providing you more credit when you need it most!
At Credit Diva, we take compromised credit scores seriously—and help repair them. Why pay extra interest if you don’t have to when all you need is a solid credit repair company? There is no time like the present to say, 'I need to fix my credit!' Get your credit taken care of now—because you never know when you may need it.
- When you get your credit repaired, you save a slice of the best lending opportunities for yourself!
- Don’t wait until you’re in the middle of applying for a loan, and they tell you the interest rate is too high because of something negative on your credit.
- Worse, the last thing you want to have to experience is being denied that new car, house, or apartment altogether when you can take action now to correct the problem.
At Credit Diva of Dallas, we have truly seen it all. We are experts at transforming your credit to give it the upgrade it needs—so you can live the lifestyle you deserve, Dallas! Get in touch with us today for more information.