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What does a credit score of 816 actually mean?

Asked by bezdomnaya (1440points) September 21st, 2009

It says that this is a ‘B’ credit score and that the higher it is the better (this part I know). But as far as apartment hunting, loan getting, credit card wielding power, what does a ‘B’ credit rating actually entail?

Should credit lenders be falling at your feet or gingerly approaching you when ‘A’-credit-rating-folk are hard to find? If one is looking for an apartment and a credit check is required, is this a score to be proud of or shooed under the rug?

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