698 credit score good enough?

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roslyn
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698 credit score good enough?

Postby roslyn » Sun Oct 16, 2011 1:19 am

Just got back my credit score and it's 698. It was the FICO score from Experian. What types of credit cards and loans would this qualify me for? With a 698 credit score would I be good for the Chase Freedom I see on advertised or the Capital One Venture? Got my eyes on both of those unless this is bad.


sticf
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Postby sticf » Sun Oct 16, 2011 5:26 am

Only way to find out for sure is to apply.

My credit score now sits in the 690-710 range because of some choices I have been made in the past year. Switching out of credit cards, new car loan, moving apartments, even changing cell phone providers have caused hard pulls on my credit. I am not worried about all the activity. I am now done with the changes I wanted to make and the inquires will start falling off in a year or so. I have little foreseeable need to apply for credit for the next 3-4 years and my credit score will be back to normal. This move to normal will also include the last round of "tough times" to fall off my report.

As the last last part of all these changes I applied and was approved for both of the credit cards you mentioned. I however, have a history of credit (average age of account 10 years even with the 2 new credit cards), a low credit revolving utilization (hovers around 1.5%), and a good income to debit ratio. These are all part of the credit application. While credit scores are a factor in lenders decisions they are not the only factor.

oooli
 
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Postby oooli » Wed Oct 19, 2011 12:36 pm

I am not sure if my FICO is 698 but it must be pretty darn close to that range because last I checked this summer was at 690 and I probably have risen a few point since. You never know because I have been approved for 2 cards I didn't think I would get. My score however is only low because my history is limited. If you have that score because of mistakes and mishaps you may be judged differently.

Dues
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Postby Dues » Thu Oct 20, 2011 6:55 pm

I have Experian score of 764 and Equifax 774 -- I applied for the capital one cash and got denied for it -- looking on their site the venture card requires the same "excellent" credit so I dunno about Capital one.

After being denied for the cap 1 cash I app'd for the chase freedom and got it.

roslyn
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Postby roslyn » Fri Oct 21, 2011 2:58 pm

Sorry for being MIA the last few days! Thanks for the info. So should I just try applying for a card or two and hoping for the best? Which would I have the best shot at that still offer good rewards?

I however, have a history of credit (average age of account 10 years even with the 2 new credit cards), a low credit revolving utilization (hovers around 1.5%), and a good income to debit ratio.


Mine is ~3 years old. Since my score is 698 and yours is close do you think we would be treated the same or because you have a long history you get preference.

naomibatac
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Postby naomibatac » Tue Oct 25, 2011 6:39 am

Credit card companies differ in their requirements and some do not just base their approval on credit scores. Yes, the best way to find out for sure if you will be approved is to apply. If you are denied, ask for the reasons so that you will know and guide your next application.
[size=60]I don't have any relationship to the credit cards or companies discussed here. I am solely a regular member of this forum with no direct financial rewards from this site. My opinions are solely mine.[/size]

A mom of 3 and currently living life, and working for credit card helpline, a company dedicated to helping people get out of credit card debt.



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