Am I still creditworthy

Submitted by Anonymous (not verified) on Sat, 05/01/2010 - 05:30
Forums
Credit repair

Will my retirement income affect the chances of approval when seeking new credit? Will my income information be updated by all the three CRA's?

Presently I don't have any open credit card accounts, they were closed by grantors. I have a car loan. Everything is paid in full, and showing paid as agreed. I do have 3 lates from 2008 on a Chase card. So am I still credit worthy?

Thanks.

Aaron

Hi Goodman,

Retirement income, rather no types of income gets recorded on the work report. It is not used to calculate your FICO score. While checking your credit report, creditors and lenders do not check your income. It totally depends on the creditor whether he will approve you as a credit worthy customer.

However, generally speaking you need to have a credit score greater than 700 to easily qualify for any card or loan. You may qualify with scores lower than 700 too, but the interest rates on these cards or loans are higher.

Can you tell whether or not you have paid off the lates?

Thanks,

Aaron

Sat, 05/01/2010 - 07:43 Permalink