I've had a couple loans from my bank what would my credit score be like?

Question

From the local bank I've had a 6 month loan for 1200$ just to build my credit finding out later that it must be atleast 12 months so paid that off and now got a 2,500 loan for two years and i've paid that always on time for the past 16 months on a 2yr loan.. what would my credit score look like? and I don't have a credit card

Anonymous · Answer

A credit score is based on a 12 month activity. It will take 12 months of activity to get a fair score which is 620/659. A good score will take about 24 months (660/749)

threeplusonedollarbills · Answer

If you made all of your payments on time, then your credit should remain about the same or improve by a few points. Keeping a good credit rating consists of making any payment on your mortgage, department stores, cars, credit cards, rents, or leases.

Go with the flow · Answer

You can google:  Fico Score Estimator
http://www.myfico.com/ficocreditscoreestimator/estimator.aspx
To get an idea of the range you fall into

Note:  You don't really need credit in life.
We bought our first home without any credit.
What saved us:  steady employment, no debt, savings, and a down payment
Many people buy their first cars or homes without any credit

Trending News

I've had a couple loans from my bank what would my credit score be like?

3 Answers