Medium Low Credit Score? - Landlord Forum thread 325879

Medium Low Credit Score? by Anonymous on October 18, 2014 @20:52

Can anyone tell me what a medium low credit score is? A few prospective tenants refuse to provide their credit score to the question contained in my LPA pre-screening questions. Instead they use words like fair, low, bad, not great, working on improving, fair/good, not sure, not so good, etc.

Since the US average FICO score is about 786 I would assume a medium low score to be sub 600. What do you think?

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Re: Medium Low Credit Score? by Bill (md) on October 18, 2014 @21:09	[ Reply ]

If a tenant refuses to provide credit score then they can go to hell. When you do a application you should collect a app fee. The should include a credit check.

Re: Medium Low Credit Score? by Bill on October 18, 2014 @21:50	[ Reply ]

What these types replies are telling you is that the applicant is a deadbeat who regularly beats people out of money. Some of those people who got beat out of money were landlords. If you want to be one of their victims, sign them up.

Re: Medium Low Credit Score? by Anonymous on October 18, 2014 @22:04	[ Reply ]

This is evading the question. A medium/low credit score is the prospective tenant you need to pass, and look towards the next applicant. If they call you back, have them sign a paper that gives you the right to run their credit, with the application fee.. Or have them run their own credit, so they know what their credit is....its free to the individual on creditkarma.com......

Re: Medium Low Credit Score? by anonymous on October 18, 2014 @22:35	[ Reply ]

You're about a hundred points too high on that average credit score.

Re: Medium Low Credit Score?

Re: Medium Low Credit Score? by Kim (WV) on October 19, 2014 @00:20	[ Reply ]

According to FICO data released in October 2014, the average credit score in the US is 689. In the US, 720 is the lowest score that's considered to be a really good score, i.e., able to easily get credit at a low interest rate or the lowest score that qualifies you to borrow at a prime interest rate. Some call a FICO score of 720 and up an "excellent" credit score. A score of 680 to 719 is considered a "good" credit score. You can get credit, but will pay a higher interest rate than borrowers who have an excellent score. A score 620 to 679 is considered an "average" score, while a score of 580 to 619 is considered a "poor" credit score. I'd guess a medium low score would be in the neighborhood of around 600...but who knows? FICO no longer releases the median score (the score at which half the people are above and half are below). The median credit score is considered to give a more accurate picture of the creditworthiness of the American public because the median "smoothes" out the effect of the super low and super high scores. The last time FICO did release the median credit score, about a decade ago, the median FICO credit score in the US was 723. As of 2014, 58% of people in the US had credit scores of 700 or higher and 85% had credit scores of 600 or higher. Therefore, only 15% of the people had scores below 600.

Re: Medium Low Credit Score? by J (FL) on October 19, 2014 @08:12	[ Reply ]

Tell the caller to find out what his credit score is and then call you back.

Re: Medium Low Credit Score?