Is 772 fico score good

Anyone making purchases based on your credit scores or effecting your scores should really consider researching how credit and fico scores work. Having that knowledge can save you thousands if not tens of thousands.

Example...
Part of your credit score is determined by your aaoa. Average age of accounts.
So if you're planning to make a big purchase based on credit you should try to avoid opening new accounts within 6 to 12 months prior to prevent your credit score from dropping. A result of your aaoa lowering.

 

Also, 772 is a really good score. You should be proud.

 

I'm gonna take a guess that you told the sales guy that you had no idea what your score was, so he attempted to earn your business by sending it to you.

 

I remember reading or hearing that if you applied for a loan it would affect your credit score, even if you didn't follow through with the transaction. Is this true?

 

Did you authorize the dealer to run your credit?
Providing you a copy of the score is likely an attempt to satisfy the reporting requirements of the Fair Credit Reporting Act (FCRA).

 

Trans Union, Experian and Equifax are the three major (and most used) national credit reporting agencies.
All three provide FICO scores. FICO scores are a measure of credit risk developed by the Fair Issac Corporation. Fair Issac developed the software for calculating credit risk currently used by the three major credit reporting agencies.

 

True.

 

If you apply for a loan a hard pull is made to a minimum of one of the 3 major credit bureaus. Every hard pull takes 2 years before it falls off and can no longer be seen on your credit report. It can knock your score down usually 2 to 15 points depending on you aaoa and the amount of previous hard pulls you have had that are still lingering.

 

Some lenders pull only one credit bureau and some pull all three.

You have a fico score for each bureau. And something everyone doesn't know us you have many versions of a fico score from each bureau. They pull a totally different version for a home loan typically than a credit card approval. It gets complicated.

Another thing peoplemight not have heard is the 3 major credit bureaus are or have recently been in a lawsuit with fico because they are creating their own scoring method called vantagescore.

 

Ya, your score might only be 771 now since the inquiry...LOL

Most likely a 'soft' inquiry, meaning you wont take a hit....Generally Inquiries are bad

You better lock that #### down...Have it frozen from all 3 places...Someone is going to burn you eventually...My Mom gets hit all the time as her score is topped out, bad folk in the buisness sell the info to other bad folk, and all of the sudden you have wierd accounts opened up in your name etc etc...

You dont want it!!! Freeze it at least

If you do want money, go to the credit union and negotiate the best rate anyone could ever get with the 770's goin on

Good credit score is nothing to be proud of...Its a measuring tool to show how good you are at doing it wrong, meaning, borrowing.....paying back at a price

It measures how willing you are to take money out of your pocket and set it on fire...lol