is 652 a good credit score
No, it’s not. It takes one to figure out if you’re a good credit risk. Credit scores are used to rate a borrower’s credit risk which, in turn, affects your ability to buy a home. With a bad credit score, you can no longer get a mortgage, but there is no requirement that you pay it back in full.
A bad credit score is more like a bad credit card. You can pay it off, but the interest rates are steep and its a bad credit score to carry. Not that I have bad credit. But if youre a good credit risk, you can get a mortgage and pay it off in full.
If you’re a good credit risk, you can get a mortgage and pay it off in full. This is because most lenders will only approve a loan if your income is at least 70% of the median household income. If your income is above this threshold, lenders will only approve the mortgage if they find that the property is a good investment. If youre a good credit risk, you can get a mortgage and pay it off in full.
In the future, a good credit score will be a requirement for getting a mortgage. This is because lenders are going to be more wary of prospective borrowers with a poor credit score. It’s going to be easier for lenders to get a mortgage if people with bad credit scores are more likely to default. This is a good thing because with high default rates, it’s going to be harder for lenders to approve loans.
In the meantime, the best we can do is encourage people to pay down credit cards and make sure they pay off at least as much as they owe on their loans. If they owe more than their credit card is worth, they are more likely to go to collections. And if they default, then they get to pay a large penalty. That can be worth more than your score for a while, but the longer it stays low the more likely you are to go to collections.
The idea is that by making payments in a timely and organized manner you can lower your risk of default and help limit your lenders ability to charge you for credit you weren’t going to use anyway. But there is still the risk of default, so if you’re unsure of your credit score you should still work with a credit card company to figure out the best way to manage your credit.
Of course, what this means is that the credit score you have could be an important factor in whether or not you go to collections. A big credit card issuers has the ability to see your credit score before you open a credit card account, and some of the credit card companies can only provide you with credit if your score is below a certain threshold, which in this case was 632.