Reply to Credit score

Credit score (Score: 1) by Anonymous on Friday, June 8, 2012 @20:36

So... What type of credit score are you looking for from your prospective tenants?

I generally feel most comfortable with folks who are 700 or higher. Then again, a credit score isn't the only factor I look at. The devil is usually in the details and there are several different types of FICO scores sold to lenders based on the asset category (mortgage, auto, revolving, etc) so who knows what version and type the various credit check companies are giving us. With that in mind and the fact that no one knows the exact formula for credit scoring models, the details matter. A score is only an indication of likelihood for default, not ability to pay.

Then there's the three credit reporting agencies. I prefer TransUnion as I believe lenders are more apt to report to them but I've seen things on an Experian report that I haven't seen on the others.

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