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Will most lenders approve a loan or line of credit if the credit score is equal to or greater than 720? The factors for accepting loans may be very different depending on creditor. Some creditors will only provide with loans to low-risk consumers; others extend loans to high risk consumers.
There are many different risk score models with different scales, so a 720 on National Equivalency Credit score might be good but a 720 might represent high risk in FICO Score.
The number you get is important but it can mean different position in the range. For example the FICO score range is from 300 850 but other score model can start be between 100 1000. As you see when your credit score is 720 you should know also the range and major factors use in credit score model.
The creditors should be able to define what the credit score number represents, whether it is good or bad factor, and more importantly provide with the risk factors that show what from your credit history most impacted the score at the time it was determined.
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