![novabench scores meaning novabench scores meaning](https://www.dialabank.com/wp-content/uploads/2019/11/Cibil-Score-1-1024x565.jpg)
![novabench scores meaning novabench scores meaning](https://www.highiqpro.com/wp-content/uploads/2009/12/what-does-my-iq-mean1.jpg)
Payment history : Late payments lower your credit score.Although the two models have minor differences, both calculate credit scores based on the following factors: The first step is learning more about how credit scores work and how they’re calculated.Īs mentioned earlier, the two main credit scoring models are FICO and VantageScore. 1 Nevertheless, if you’re aiming for perfection, then you may be able to further improve your credit score. You probably won’t gain any additional benefits from trying to get your score beyond 809 because most lenders will look at an 809 score the same way they’d look at a perfect 850 credit score. It can also save you money on services like insurance. This is because many landlords and employers run credit checks. In addition to allowing you to qualify for the best credit card and loan terms, your good credit can help you snag your dream job or apartment. To put your score of 809 into context, here’s how it compares with the average for various generations: Your 809 credit score compared to the average score by generationĮligible for all types of mortgages with the best interest ratesĮligible for auto loans with the best interest rates Your score is good enough to get the best terms on loans and lines of credit from the vast majority of lenders. An 809 credit score is in the highest score bracket in both of the two major credit scoring models in the US ( FICO and VantageScore), and it’s well above the national average.Īn 809 credit score is very far from the lowest credit score of 300, and it’s very close to the highest credit score of 850. It indicates to lenders that you’re a very low-risk borrower. Loans and credit cards you can get with an 809 credit scoreĪ credit score of 809 means that your credit reports show that you always pay your bills on time.
#NOVABENCH SCORES MEANING HOW TO#
How to make the most of your good credit score.How your 809 credit score was calculated.