What are tier 1 and tier 2 credit scores?

Answer Better credit ratings open up several new avenues for borrowing, but certain scores, considered tier 1 and tier 2, maximize your creditworthiness. However, it may not be worth the extra work to get... Read More »

Top Q&A For: What are tier 1 and tier 2 credit scores

What is tier one credit rating?

Having a tier one credit rating is a very good thing because it shows that one is very skilled at managing his credit and is extremely likely to pay back a loan. People with tier one credit enjoy l... Read More »

What does tier 3 mean on a credit report?

Individuals with a tier 3 credit rating (C credit tier) generally have a FICO scored between 581 and 659. This generally implies a credit history of less than five years, slow pay on loans, higher ... Read More »

Will canceling credit cards with high available credit hurt my credit score?

Closing a credit card with a high available credit limit will lower your available credit, as well as remove some of your credit history. Typically, it does lower a borrower's credit score, althoug... Read More »

What is a good credit score on a credit score scale?

On One Hand: Over 700 on the FICO ScaleThe FICO credit scoring scale runs from 300 to 850, with higher scores signifying a more credit-worthy individual. A score of 700 or higher signifies that you... Read More »