Credit Score

[Mother Bond]

When looking over a credit report, what else is taken into consideration besides the credit score? Is there a minimum credit score in order to be approved?

[Bond Magician]

We generally look for a credit score of 650 or higher - with no negative items on the credit report, such as bankruptcy, tax liens, civil judgements, or open collections. If the only negative item on your credit report is an open collection (that has been paid off but is still negatively affecting your credit score), we can possibly get you approved under a standard program IF you can provide proof in writing that the collection has been paid off.
Hope this helps!

[Surety Queen]

Originally Posted by Bond Magician

We generally look for a credit score of 650 or higher - with no negative items on the credit report, such as bankruptcy, tax liens, civil judgements, or open collections. If the only negative item on your credit report is an open collection (that has been paid off but is still negatively affecting your credit score), we can possibly get you approved under a standard program IF you can provide proof in writing that the collection has been paid off.
Hope this helps!

Bond Magician is absolutely right - but don't let the score scare you from submitting an application. There are some surety companies who look at the content of a credit report instead of the score. It depends on what type of bond you are applying for. You can apply - under no obligation - on our website to see exactly what your premium would be.