Is a credit score of 706 good for a 19 year old?

To actually answer your question.

Credit scores are made up based on the following factors;

1. Payment history 35%

2. Time in bureau 15%

3. Types of credit 10%

4. New credit 10%

5. Debt to credit ratio 30%

As you can see 1,2%26amp;5 are the most important as far as score goes, but there is a lot more to it then just having a good score which you do.

I look at credit every day and see people with scores like yours that can not buy a car because their score is made up of 1 credit card with a $500.00 limit paid 15-times and a couple of student loans.

While this type of profile generates a great score, it does not show the ability or the willingness to actually pay any one.

The profile you will need is 3 credit card accounts (revolving) with balances below 30% of your credit limit and 2 cars, boats, homes, furniture or personal loans (installment) all with good long pay history%26#039;s.

This will give you the score and profile to get the best rates on any loan you may need in the future.

Is a credit score of 706 good for a 19 year old?

Yeah... its not bad at all. Almost unbelievable, as your accounts were open for less then 2 years.

It shows you are really good at being slave to the lender.

Is a credit score of 706 good for a 19 year old?

Yep , it shows banks are willing to allow you more of a chance to drown in debt than the average 19 year old , you are well on your way to bankruptcy caused by the credit trap .. ( stats show that nearly 40% of bankruptcies are ages 18 - 25 ) You would come out better saving all you can , and pay cash ..it is much cheaper that way ...

Is a credit score of 706 good for a 19 year old?

yes, your credit score is good. Make sure you may all your debt on time, because if you don%26#039;t your credit score drops and all of your credit info stays with you. Keep up with a good credit score and you%26#039;ll have more opportunities for lower interest rates on buying a home , cars , etc.if your score goes down into the 600 or 500 your interest goes up and creditors make not take a chance at lending money to you in the future.

Is a credit score of 706 good for a 19 year old?

its good but who cares about credit scores?

Is a credit score of 706 good for a 19 year old?

fantastic keep it up

Is a credit score of 706 good for a 19 year old?

yeah its good, im 19 too and my score is 712 but have too many credit cards *_*