Is Having Average FICO Scores Good Enough?

If you think this then you’re making a big mistake!  Those of you who have FICO scores in the mid 600’s were considered golden 36 months ago. Today, you’re considered too risky and the credit market has largely passed you by. Conversely, if you have FICO scores above 720 AND are on the buyer’s side of the credit equation then you are in the catbird seat. Auto loans are at or near 0%. Mortgages are at or below 5%. Credit cards issued by credit unions are at or below 9.9%. It’s a great time to be a borrower but only if you have strong FICO scores.

What’s considered perfect today? Shoot for a 750 and that will get you the best deals on almost everything.  Better credit means more leverage. You’ve heard to term “it’s a buyer’s market.” You’ve also heard the term “It’s a seller’s market.” Well, for the first time in almost three years it is now a buyer’s market in the consumer credit environment. But, it’s a buyer’s market only if you have good enough credit to deserve the very attractive rates offered by almost all lenders. If you’ve been putting off paying down credit card debt now may be the time as paying down credit card debt is the fastest way to significantly improve your credit scores.

So work on getting that credit score up today!  If you want to do it yourself, check out our FREE e-book with tons of information.  If you need help, Wellness Credit is a credit repair company located in Colorado that serves credit needs nationwide.