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What is a Tier 1 credit score?
What is a Tier 1 credit score? I'm shopping for a car loan and I'm consistently seeing that the best rates are available for *Tier 1* credit scores.
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“A Tier 1 credit score is typically defined as a credit score of 750 or higher, although this may change slightly from lender to lender.
Customers with a Tier 1 credit score can usually secure the best rates on
car loans
because they’re perceived as low risk compared to other borrowers.If you’re right below a 750 credit score, it might be in your best interest to keep paying other loans until you reach this level to save money and lower your interest rate.”
View full answer
- Gregory R.
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