I’ve had an awesome credit rating for years. Is there anything that I can get/qualify for just with this credit rating? Even a basic credit card requires you to declare your current annual income, so even with a stellar credit score, you still might not qualify if you declare an income of $45k and they want a minimum of $55k.
Are there any loans you can get with just the credit rating? Apartments? Jobs? School admissions? Immigration visas?
I’m guessing that the answer is going to be no, that even the most basic things in life will require a multipronged evaluation (e.g. credit score plus income, credit score plus reference checks, credit score plus employment history, etc.) However, this is the Dope and y’all know all sorts of interesting stuff.
Alternately, is there anything you can qualify for with just a stellar credit score and a clean criminal history?
I have gotten a mortgage with a steller credit score, not having to provide any income information. The rate was a bit higher then if I were to provide such income info, but I did secure mortgage on credit score alone.
My credit is relatively golden. With it I can get … umm… more credit. I can get preferred interest rates on credit cards and I can be approved buy things a person with lesser credit, but equal income would be denied. But I don’t get these awesome things because I don’t have the net cash flow to support the purchase… which is why I have good credit.
Good credit will mainly give you enhanced access to things that require good credit to get. For me lower interest credit cards are the main benefit as my income as salesperson is variable and credit cards are useful at times.
Yeah, they cut that shit out after the mortgage crisis. That’s a NINA (no income, no assets) loan. (ETA: Unless he got a NIVA loan, no income, verified assets loan.) I’m guessing that kanicbird got that loan in the mid-2000s. My wife and I got a mortgage last year, and even though we both have solid scores (over 800), we had to provide a ton of income and asset information, just to get a $120K loan. They really tightened stuff up. One of my credit card issuers even lowered one of my credit card limits, even though I never carried a balance, and my score was rising to the highest point it’s ever been it. (Might have been around 780 when they lowered my limit.)