Do you know what a credit score is? If you’re reading this, chances are you’re curious about what a 670 credit score means. Well, buckle up, and let’s dive into the world of credit scores!
Why do I care about a 670 credit score? Well because it is a little bit below the average score in America (which is between 690 and 710, depending on the score brand and version -see below-). But also it is not terrible and it probably means you don’t have significant problems of delinquency or late payments and your financial picture just needs a little help. The kind of help buying a tradeline can offer. (again, see below).
A credit score?
First things first, a credit score is a number that represents your creditworthiness. It’s a numerical representation of your credit history and is used by lenders to determine your creditworthiness. Your credit score can range from 300 to 850, and the higher your score, the better your creditworthiness.
Two main “brands” of scores
There are two main credit scoring models that are used in the US – FICO and VantageScore. FICO is the most widely used scoring model and was created by the Fair Isaac Corporation. On the other hand, VantageScore is a newer scoring model that was created by the three major credit bureaus – Equifax, Experian, and TransUnion.
Both scoring models have multiple versions, and each version has its own range of scores. FICO has nine different versions, with the FICO Score 8 being the most widely used. The FICO Score 8 range is 300 to 850, and a good score is considered to be between 670 and 739. On the other hand, VantageScore has four different versions, with VantageScore 3.0 being the most widely used. The VantageScore 3.0 range is 300 to 850, and a good score is between 661 and 780.
670 credit score
So, what does a 670 credit score mean in each scoring model? In FICO Score 8, a score of 670 is considered “fair” and below the average score of 704. In VantageScore 3.0, a score of 670 is also considered “fair” and below the average score of 675.
Now, you might be wondering if there’s a quick and easy way to improve your credit score. Well, there are some companies out there that offer a service called “buying tradelines.” Essentially, you pay to become an authorized user on someone else’s credit card account, and their good credit history is added to your credit report. This can boost your credit score, but it’s important to note that it’s not a guaranteed fix.
While buying tradelines can help boost your credit score, it’s important to focus on building your credit history over time. Pay your bills on time, keep your credit utilization low, and monitor your credit report for errors. These are all ways to improve your credit score and increase your creditworthiness.
In conclusion, a credit score is a numerical representation of your creditworthiness, and there are two main scoring models – FICO and VantageScore. Both models have multiple versions and their own range of scores. A 670 credit score is considered to be “fair” in both scoring models, but there are ways to improve your score over time. So, don’t get discouraged if your score isn’t where you want it to be – focus on building good credit habits and your score will improve naturally over time.
Resources
The following is a list of resources to start learning about tradelines. We have a list of tradelines for sale, and a tradelines FAQ. Also various posts about tradelines, and a chart of tradeline prices from competitor sites. Finally, a contact form to ask further questions.
Please feel welcome to ask any questions below.
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