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Is a 5 beacon score good or bad?

Updated: 4/28/2022
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12y ago

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A Beacon score of 5 is impossible, the score ranges between 300 and 850. I'll assume you meant 500, this is considered to be 'very bad'.

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Q: Is a 5 beacon score good or bad?
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Is a beacon score of 680 good?

A credit score derived from the application of a credit scoring model created by the Fair, Isaac Company to a consumer's credit file held by a credit reporting company. FICO® scores range from 300 to 850, but almost all consumers have a score between the 600s and 700s. A beacon score of 680 is considered to be falls into the 'Good' category by 5 points.


Is a 670 credit score good or bad?

Well i got s 5 per cent mortgage with less than that, so its pretty good


How much do you save to buy a house?

It will depend on how good your credit is and what you want your payments to be. If the price of a house is $100,000 and your credit is good and your fico score(this is your credit score) is 660 or higher You will need to put down 5%-10 % or $5,000 - $10,000 plus closeings cost of another 4% or $4,000.00 so if your credit is good you will need to save 9% -15% of the cost of the house you want to buy. Now if you have bad credit, you should clean up your credit before you buy. With bad credit your intrest rate will be high and your house payment will be high.


Is 817 considered a very good fico score?

Yes, 817 is a very good score, it puts you in the top 5% of all borrowers. The key to such a good score is to pay your bills on time and maintain low levels of installment/revolving debt. As I understand it, you should keep your revolving debt under 10% of your credit limit, have no more than 3 cards/ lines of credit, and have a mortgage. Pay your bills on time over the years and your score goes up. Hope this was helpful.


What is the fastest way to increase an individual's credit score?

1. If you dont have credit, get 2 credit cards. 2. Make SMALL purchases on your credit card. 3. Pay off your credit COMPLETELY each month. 4. Wait 12-24 months. 5. If you have a credit card, but have a high balance, pay it down as much as possible. your credit score can jump 50-100 points if you payoff your credit cards. 6. If you are applying for a mortgage and have bad credit, many times the large national lenders such as Wells Fargo or Chase can better help you raise your creddit score. They can tell you that you need to payoff this, this , and this to get your credit score to jump 50 points. Good luck! Henry

Related questions

Is a beacon score of 680 good?

A credit score derived from the application of a credit scoring model created by the Fair, Isaac Company to a consumer's credit file held by a credit reporting company. FICO® scores range from 300 to 850, but almost all consumers have a score between the 600s and 700s. A beacon score of 680 is considered to be falls into the 'Good' category by 5 points.


Is a 670 credit score good or bad?

Well i got s 5 per cent mortgage with less than that, so its pretty good


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