TransUnion Credit Score Range Explained: What’s a Good Score?
How your credit score is calculated, and why this makes your financial health so important. One of the top three major credit bureaus, TransUnion is integral in furnishing consumer reports and scores. The TransUnion credit score range goes from 300 to a high of 850, which is about the same as some other types of common score ranges. However, the question remains: what is considered a good score within that range? Read TransUnion Credit Score Range In this article we will discuss the range of a credit score under TransUnion, what is considered to be good and tips on how you can make it better.
What Is the TransUnion Credit Score Range?
The TransUnion credit score range goes from 300 to 850, and they have various bands for different levels of being a good prospect. Here’s a breakdown:
- 300-579: Poor – A score below this level will be seen as extremely high risk. You may find it hard to qualify for loans — and if you do, interest rates would probably be quite high.
- 580-669: Fair – While consumers in this range can have a difficult time securing the best loan terms, they are likely too high risk to receive those with poor credit scores.
- 670-739: Good – If you fall into this range, lenders will see you as lower risk. Plenty of folks with decent scores are capable of borrowing at reasonable terms.
- 740-799: Very Good – These borrowers are still extremely low risk and should expect to receive the best offers for loans with very easy access to lower interest rates.
- 800-850: Excellent – The best bracket of the TransUnion credit score range The highest credit score will receive the best loan terms, and lowest interest rates, and qualify more easily.
TransUnion Credit Score Chart
What’s Considered a Good TransUnion Credit Score?
In the context of the TransUnion credit score range, most anything that can be classed 670 and over is usually a decent thing. Good credit scores (670-739) can qualify you for favourable loan rates, while very good and excellent ratings give you access to the best financial deals so that you pay less in interest payments or have more options when borrowing money.
How to get a Decent TransUnion Credit Score
After all, that is a good or excellent score according to the TransUnion credit score range and not easy to achieve without exercising financial discipline on a regular basis. Use reinforcement well; Here are some good ways:
1. Pay Your Bills on Time
Historically, the most important is payment history which represents approximately 35% of your overall score. Pay your bills, from credit cards to loans and utilities always on time. The thing is, a late payment can hit your score hard.
2. Keep Your Credit Utilization Low
Another important factor is your credit utilization — how much of the total amount you are borrowing about the available balance. Keep an eye on your credit utilization, as scores tend to decrease at this level of usage. For instance, with a $10,000 credit limit, you should avoid carrying more than $3,000.
3. Avoid Opening Too Many New Accounts at Once
Every time you apply for credit, a hard inquiry hits your credit report and knocks down your score hairline. When You Have Multiple Credit Inquiries in a Short Time, they can be an indicator to the lenders that you are at high risk and applying for credit multiple times. Be selective when considering new lines of credit.
4. Maintain a Mix of Credit Accounts
Different types of credit (credit cards, mortgages and auto loans) affect your score. It shows lenders that you are capable of multiple types of credit.
5. Monitor Your Credit Report Regularly
As lithophytic growth in credit report lets you know where your credit account figures, and exposes any errors or fraudulent activity that can devastate it so far. A free credit report from TransUnion can be obtained once a year and you are eligible to receive it at AnnualCreditReport.com.
TransUnion Credit Score Range by Age
Credit scores based on age older candidates have higher credit scores in general, as is to be expected of fresh entrants because they are likely to have a lengthier history of good payment behaviour. Here is a coarse breakdown of what the TransUnion credit score might look like at different ages:
- 18-29 years — Average score: approximately 660 to 680
- 30-39 years: Most scores should be in the 670-690 range
- 40-49 years: Average score, approximately 690 -720
- 50-59 Years: Median score of about 720–740
- 60+ years: 740-780 (average score)
Because these ranges are averages, there can be substantial variations in the actual scores respondent cite according to their financial behaviour.
TransUnion Credit Score Range 990
One other quick clarification: TransUnion also provides a 990-point scoring model, instead of the more typical and widely used range UP TO 850. Although this model is sparsely used, there are some lenders that will use 64. So far as the range goes, a score of 900 or more would be excellent on this scale and anything between 750 to 899 would be termed great. Anything below 750 would put you in the most danger of being considered a risk to a lender.
The following are the FAQs for each of these questions.
TransUnion Resident Score vs. Credit Score
Q: What is the difference between a TransUnion Resident Score and a credit score?
A: TransUnion Resident Score: A niche score for landlords and property managers, this is used to assess a prospective tenant’s propensity to pay rent. One comp feature accounts for rental history, and includes other specific data. The credit score is a more general measurement that loan companies can use to determine how likely someone may be to do business with them. Both are different conceptions: Risk Levels and Numerical scores mean the same concept of risks in both cases.
What Credit Card Pulls from TransUnion?
Q: Which credit cards pull from TransUnion?
A: This use case applies to a number of credit card issuers who pull your TransUnion credit report when you apply. The bigger ones are Capital One and Barclays Synchrony Bank (though that depends on what you’re applying for and where u live. If you are worried about which credit bureau to check, it is recommended that always contact the issuer.
Is a Credit Score of 779 Good?
Q: Is a credit score of 779 good?
A: Yes, a 779 credit score is very good. This score means you are a low-risk lender, meaning that lenders and credit lines can give it to high-interest rates people.
Do Toll Collections Go on Credit Report?
Q: Do toll collections appear on a credit report?
A: If you do not pay for tolls that are referred to collections, they may be reported on your credit report. When a toll violation is sent to collections, your credit score will most likely suffer the same consequences as any other old debt.
Is 832 a Good Credit Score?
Q: Is a credit score of 832 good?
A: Definitely 832 is a great credit score. For the most part, this should get you locked in for competitive interest rates, credit card offers and loan terms.
Is We Fix Money Safe?
Q: Is We Fix Money a safe service to use?
A: We Fix Money is a Commerce Matching Service Which provides service with the Lender for your best suit. Even though the service is itself legitimate, you must review with scrutiny all of the terms and conditions that each loan contains. Ensure you check the reputation of the lender and understand interest rates and fees prior to agreeing with any loan.
What Credit Card Companies Pull TransUnion?
Q: What credit card companies pull from TransUnion?
A: TransUnion is commonly used by many credit card companies in their credit evaluation process. Notable Banks: Capital One, Barclays and Synchrony Bank This may depend on the exact credit bureau used, so you should confirm with an issuer.
What Credit Card Company Uses TransUnion?
Q: Which credit card company uses TransUnion?
A: TransUnion is commonly used by many credit card companies in their credit evaluation process. Notable Banks: Capital One, Barclays and Synchrony Bank This may depend on the exact credit bureau used, so you should confirm with an issuer.
What Credit Cards Pull TransUnion?
Q: Which credit cards specifically pull from TransUnion?
A: Capital One, Barclays and occasionally Synchrony Bank credit cards often pull your credit report from TransUnion. Which bureau the lender uses depends on a number of factors, such as where you live and your credit profile.
Which Credit Card Companies Pull from TransUnion?
Q: Which credit card companies pull from TransUnion?
A: Typically, Capital One, Barclays and Discover are credit card companies that like to pull TransunionQRSTUV. Remember also that the credit bureau pulled may not be uniform across all issuers and account types.
Is 637 Credit Score Good?
Q: Is a credit score of 637 good?
A: In the 400 to 499 range typical credit score of someone whose credit is fair in Canada, meaning they are unlikely to get much approved anywhere… You can still get credit, but you will likely pay higher interest rates and receive less favourable terms than if your score were 700 or above.
Is 759 a Good Credit Score?
Q: Is a credit score of 759 good?
A: So, 759 is a pretty good credit score, right? This kind of score will make it easier for you to get better credit terms, such as lower interest rates on loans and cards.
What Credit Cards Pull from TransUnion?
Q: What credit cards specifically pull from TransUnion?
A: Credit cards from Cap One, Barclays and Synchrony Bank tend to get their credit report pulled through TU. But this may vary depending on which bureau the issuer uses and where you live.
Conclusion
The ranges may help one understand where the TransUnion credit score range lands, and what it takes to have a good or average score. If you’re applying for a mortgage, getting another credit card, or just trying to do the right thing by knowing where your financial health is with TransUnion in New Zealand it’s information which matters. It could lead to improved financial health and easy access to credit by maintaining a healthy score, monitoring it closely & then taking necessary steps which you find require more responsible work.
