I just got my credit score today online using FairIssac scoring system and am wondering if 734 is good enough of a score to obtain an auto loan with the lowest possible interest rate. 734 out of 850 is by far a perfect credit rating and if you can share your auto finance experience when you purchased your TL-S along with credit rating than I would be able to evulate what APR I will be getting when applying through E-Loan,
thanks.
-A

 

734 is a very good score. You should easily get the lowest prime rate from ELoan and PeopleFirst.

 

How did you obtain your credit rating? I'm considering purchasing a house and am wanting to get my rating without paying for it.



------------------
'00 Firepepper Red TL

 

I thought the credit ratings were out of 1000, not 850. Please correct me if I am wrong.

 

700+ beacon (credit score) is very good. The banks will also look at high credit experience. My banks best rate right now is 6.75 APR for 60 mos. Don't sign anything with more than 7.25% with your credit score.

 

734 is excellent. The score that goes to 1,000 is called a National Risk Score. For the NRS, the lower, the better. It is my understanding that the Fair Isaac (FICO) score tops out at 825 and anything over 720 is considered excellent credit. I saw an 819 today and it was the best I have ever seen (NRS was 7). It is rare to see anything over 800.

OCC bank examiners now consider a FICO score under 650 to be suspect.

 

Hi,
Thanks for the replies!
I got my credit rating through Experian.com, but I had to pay $11.66 which was discounted 10% for an introductory offer I got from email.
I have about 28 open accounts in my credit reports and most of them are from student loans, and I only have one credit card and one auto leasing. I guess what hurted me are my 5 year old student loans, because I was hoping to get +800. Do anyone of you know how to obtain a credit rating above 800. I have never been late on my monthly payments on anything; I know I am bit anal but I also have been wanting to purchase a house pretty soon.
By the way you can also obtain credit score through myfico.com directly, but I don't know how much they charge for the service.
-A

 

Tlsdave,
Where did you see a credit rating of 817, and would you happen to know that person's credit history without naming anyone?
-A

 

It was an 819. I am in the banking business and see credit reports all the time.

 

I work in the credit industry... the automobile dealers do not use the standard FICO score but an auto-enhanced version of the FICO. It could be higher or lower than your regular FICO depending on installment payment history. Over 50% revolving usage will affect this score but late payments on revolving debt has a lower impact on this score than it does to the regular FICO.

 

You can get a free credit score from E-Loan at this address:

https://www.eloan.com/myeloan/viewscore

They use the CreditXpert system. It's not the same as FICO, but will still give you a pretty good idea how you'll rate on any system. When they send you your score via e-mail, they also give you ideas how to improve it. A very nice service - especially for free!


------------------
2002 TL Type S
Nighthawk Black Pearl
Black interior

 

I just did the one from experian or whatever that guy mentioned before... FICO/etc.
Mine was 667... how is that? (I'm only 18...)
is that a good score considering my age, I've had no delinquent accounts, no bankruptcies/collections/etc... only thing it didnt like was too many inquiries (do they disappear after a while? There are some on there from 2000)
and it said i have too high a balance in relation to my limits or something
i know, i know, i need to pay some of my cards down lol

------------------

 

ELoan had this table for interpreting your score:

Above 730 Excellent credit

700 - 729 Good credit

670 - 699 Lender will take a closer look at your file

585 - 669 Higher risk; you will not be eligible for the best rates and products. Credit products may not be available.

Below 585 Credit options will be limited or not available. Lender will need to consider other information in your application.

With a score of 667, you will have a hard time getting good rates. This is probably because you are young and have not yet established a strong credit history.

 

I'm 19 and i have a credit score of 657 i think. Too many inquiries i guess.

 

Just a question... how are you 18 and 19 year olds able to afford a 30K car?? Wealthy parents??? Geez.. must be nice! When I was 19 I was driving an '83 Chevy Cavalier hatchback and I loved it at the time! Yeah, also had to walk 5 miles a day to school.. barefoot, in the snow, over broken glass....

 

Put enough money down, you can have any car you want, regardless of your credit.

------------------
* 2001 Acura CL Type S * Blk/Blk * Navigator * Spoiler * Moonroof Visor *
* Since 3/31/2000 *
Road Warrior

 

I work in the Credit Union business, and we do not see too many over 800 scores. We use Trans Union and anything over 700 is A credit. I do think the scores are sometimes misleading. I have seen some young people with only a couple of trade lines get a score over 700. I have also seen some established people with many trade lines get in the mid-600's. This has a lot to do with having too many open credit card accounts. Sometines finance companies concentrate too much on the score and not other things. Like can you really afford a 500.00 a month note. I to wonder how some 18 and 19 year olds afford these kinds of cars, but some do. I am 37 and this is the first car I have ever owned that cost over $20,000.00. Oh well, just makes me appreciate it more. If I had this type of car when I was 18 what would I have looked forward to?

 

don't know my score with the tl-s purchase, but the accord i bought in 10/1999 was scored with a 820.

 

By now u would be driving a GS430 or a maybe even a bentley, who knows. You wouldn't even remember the TL.

 

my credit score is about 620 as far as i know. will that be enough to get a tls with navi?

 

Mine was a 762

 

In talking with finance guy (at an Acura dealer), they said 640 or better could get financed usually without problem.
I was lucky enough to be pre-approved from my bank for 6.75% for up to 72months. So credit scoring not an issue.
Equifax.com is a great site to check credit and score.

 

What can a max score of 850 or 1000 get for rates? Free car?!

 

i got 774! .. wee

 

mine is about 630 or so. does anyone know or think that i will have problem getting the tl. or should i get a co signer?

 

Depends on your income, time on job and length of time credit lines have been opened.
With enough income and some searching they may be able to get you financed. Good Luck

 

The higher the score, the better financing you will get.

------------------
2002 Acura TL Type S
Nighthawk Black Pearl
Parchment Leather

 

But you would never get free car would you???
LOL LOL

 

I'm 18 and drive a Aegean Blue Type S. How can I afford it? Because I've been working a "real" job (no retail or fast food!) for awhile now, and I'm good with my money. Hence the Type S instead of a 330i.

Believe it or not young people can work hard, too. Don't assume that someone young driving a nice car is a spoiled brat, that's not always the case.

 

i made about 55000 last year, and my credit lines have been open for about 2 years or so. my credit score is somewhere around the 600 or so. should i get a co signer?

 

Check equifax.com. There you can obtain your score, then talk to the dealership finance people. They will let you know if you need a co-signer. Low 600's will probably not qualify for the best rate though.

 

thanx. i also saw a 99 rl with 33000 miles for $22000. sound like a good deal to me....

 

I have a 684 and only two months ago I had a 622. The one thing that I did was get the balances on my Credit Cards low I will have them paid off this month. I can't wait I am hoping to get atleast a 700 before October when I go to purchase whatever it is. See sig

------------------
Trying to decide
02 TL Type-S or
02 CL Type-S or
02 RSX Type-S

<FONT COLOR="#800080" SIZE="1" FACE="Verdana, Arial">[This message has been edited by Quick96 on June 18, 2001 @ ]</font>