# Is Your Credit Report Scaring Off Lenders?



## SeaBreeze (Apr 15, 2014)

Here are some reasons why your credit report may be scaring off lenders including applying for multiple credit cards at one time, short sale of your house, another person's debt (co-sign), always making only the minimum payments on credit cards, excessive inquiries into your FICO score, and cash advances on your credit cards. http://www.bankrate.com/finance/credit-cards/6-credit-report-items-that-scare-lenders-1.aspx

 One of our credit card companies recently sent us our FICO and it was 819, so that was very good.  Here is what your score means to lenders:

580 or below = Very Risky

580-669 = Some Lenders May Approve Borrowers With This Score

670-739 = Average and Considered Good

740-799 = Very Dependable Borrower

800+ = Exceptional Borrower


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## SifuPhil (Apr 15, 2014)

I guess that explains why my score of -25 tends to, um, _intimidate_ some lenders ...


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## Capt Lightning (Apr 16, 2014)

One of my credit card companies phoned recently offering me an "app" to manage my credit score.   I told them that I had no need to manage my credit score, I didn't know what an "app" was and they shouldn't bother me with unwanted calls.   They said it was "only" about £9 a month to which I replied that if I kept wasting money of things I didn't want, my credit score would be zero.  Anyway, I pointed out that since THEY had issued me with a card, they must have been pretty happy!  End of call.


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## Warrigal (Apr 16, 2014)

It has been years since hubby and I have owed anything. Our "credit" card is actually a debit card and we pay for everything we buy from our savings. We would have trouble borrowing money today because we have had no credit record/rating for about 25 years.


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