730 Credit Score Is Good, But Not Excellent In 2015

(Updated for 2015) Is a 730 credit score good enough for the best credit cards, mortgage & auto loan rates? This is what you can expect with a 730 FICO.

Source: 730 Credit Score Is Good, But Not Excellent In 2015

I was helping a friend who leased a car and he said that his 701 score qualified for tier 1 credit.

This was interesting. I had helped other friends buy a car and some dealers have different standards of what scores are acceptable for tier 1 credit. For example Nissan dealers I read will accept a 620 score for Tier 1 credit, while Lexus wants a 720 for tier 1 credit. It makes sense. You would assume that people with more money would also have higher standards than a more affordable car.

What else was interesting is that there is apparently a tier 0 of credit. It seems to be at 740 or above. There are no official listing for the rate, but some 0% interest financing deals does seem to only be available on “approved credit”. So perhaps this is what retired people/famous people get deals with.

I wonder if credit is easier for people to get now than in the past? I remember growing up and how impossible it seemed to buy a car for my parents. Even though they rarely spent money, it was always difficult to get a car. It seems the car manufactures are making it easier to buy cars than they used to be. Or perhaps more people have cars because there are more used cars on the market than ever in the past. In the recession people held onto older cars and now the average age of a car is 11 years! Amazing isn’t it?