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Understanding Credit Scores

Understanding Credit Scores

Credit Scores—What the Numbers Mean.

Credit Rating Score
Excellent 750-840
Good 660-749
Fair/Risky 620-659
Poor 340-619

Credit Scores range from about 300 to 850+. When you put in an application to rent, a low score is less desirable and more difficult for the landlord to accept, while a high score is better overall. In general, many property owners are looking for a credit score of 660 or higher. However, there are properties available that you may still be able to rent even with a lower credit score. Contact us to discuss your particular situation and we will do our best accommodate you if we can.

If you have a low credit score and you would like to take steps to improve it, there are many professional groups and organizations that can help you. It is generally believed by people who would do business with you that as a person’s credit score improves, the risk to do business with you decreases.

Here is a list of things that may affect your score:

  • Payment History (35%)—Do you pay on time and in full?
  • Outstanding Debt/Bills (30%)—What have you not paid off yet?
  • Credit History Length (15%)—How long have you had credit?
  • Recent Credit Inquiries (10%)—How often do you get a new credit account?
  • Types of Credit You Have (10%)—Is your credit to buy a home/car or to finance a TV?

There are three major national reporting companies. Your credit score is often determined by averaging all three or by simply taking the middle score.

Please Contact Us for a free—no appointment necessary—consultation. Our Corporate Offices are located in the Spokane Valley at 524 N Mullan Rd, Ste 101, ph (509) 842-2322 fax (509)893-2202.

All residential rental dwellings are available on a non-discriminatory basis.  We do not discriminate in any term, condition, or privilege of rental on the basis of race, color, religion (creed), gender, gender expression, age, national origin (ancestry), disability, marital status, familial status, sexual orientation, or military status, in any of our activities or operations, which include the marketing and rental of residential dwellings.

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