Whether its applying for an apartment or buying a vehicle, at some point you will have a credit check done. For many this is scary and the number is a mystery, but it doesn’t have to be. Its good practice to monitor your credit and know where you stand. There are many services available that can help you with that. Some are free and others will charge a small monthly fee. Either way the more you know the better prepared you can be and that perfect apartment or vehicle can become a reality.
- 800-900 Excellent Credit, you don’t over extend yourself and you always pay your bills on time
- 720-799 Very Good Credit, you will have a variety of lending options available to you often at lower interest rates.
- 650-719 Good Credit , you likely won’t qualify for the lowest interest rates but you demonstrate responsible fiscal habits.
- 300-599 Poor Credit, you are either new to the lending arena or you have made some poor decisions in the past. Don’t despair, your credit can be repaired, but you may have to wait to qualify for that dream apartment.