The myFICO website provides real-time home equity interest rates for different credit score levels. On a 10 year loan, you might pay an interest rate six percentage points higher with a credit score between 620 and 640, as compared to someone with an excellent score. An excellent score falls between 740 and 850.
1 First and foremost, you want to use a legitimate bank. 2  Sticking with a large, widely known bank should be a safe bet. 3  If you're considering a smaller institution, or if you just want to be extra safe, use the Bank Find tool at the FDIC's Web site to make sure the bank is a member of the FDIC.ere are some criteria to consider when choosing where to open a checking account. 1  Legitimacy. 2  First and foremost, you want to use a legitimate bank. 3  Sticking with a large, widely known bank should be a safe bet.
Since you are looking to establish credit for the first time, lenders canât look to your FICO score to determine whether or not to lend you money. In these situations, they have to examine other factors that can help them decide if you are a credit risk or not. 1  Bank accounts: You donât need a credit score to open a checking account at your bank. 2  Employment history: Another important factor lenders look at is your employment history.