From Sarah Tavel of Greylock Partners presentation on “Saving People Money”:

Questions:

• What seems to be the critical credit score that determines whether or not your loan application gets accepted?
• Approximately what percentage of applicants for credit are accepted at a:
  • 760+ credit score?
  • Between 681 and 759 credit score?
  • Less than 680 credit score?
• Who determines what credit score is acceptable when it comes to accepting a loan application?
• Do you think these cut-off points change based on the state of the economy?

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.