Understanding Credit Score - Credit Approval
True or False?
Even if my credit score is good enough to get credit approval, I still need to be concerned about my FICO credit score level.
True.
In addition to approval, the lender can use your credit score to determine the interest rate charged for your credit card, car loan, mortgage, etc. The difference between a 650 and 750 credit score could result in thousands of dollars over the course of a car loan, or tens or thousands of dollars for a mortgage.
Remember, if you’re not working the system, it’s working you.
PapaJoe
understanding credit score