My understanding is different. Maybe it matters what kind of credit it is: secured versus unsecured. Perhaps they treat asset backed debt differently.
That I do agree with. Length matters. Get rid of the newer cards rather than the older.
My understanding is different. Maybe it matters what kind of credit it is: secured versus unsecured. Perhaps they treat asset backed debt differently.
That I do agree with. Length matters. Get rid of the newer cards rather than the older.
snipped-for-privacy@yahoo.com wrote in news: snipped-for-privacy@o13g2000cwo.googlegroups.com:
Wrong. The last article I read said 38% of card users carry no debt.
Here is the small print from TransUnion(whose scores go to 950) About your TransUnion Personal Credit Score: Your TransUnion Personal Credit Score is displayed above. Your credit score is a snapshot of the contents of your credit report on the day the score was calculated. Using objective, impartial formulas to translate the contents of your credit report into a 3-digit score enables lenders to evaluate your application for credit in a faster, fairer and more consistent manner. Remember, we constantly update the information contained in your credit report, so your TransUnion Personal Credit Score only represents the score a lender would receive if they requested it today.
Summary Given that you have a high credit score, lenders should be able to conclude that you are capable of repaying your debts. This would then enable lenders to provide you with better interest rates and loan offers. Credit cards may be harder to obtain because lenders still see room for improvement. To improve your credit score, continue to pay your debts on time. Lender offers will differ based on the attribute information you provide concerning your monthly income, employment history, and monthly debt. This information will aid in the determination of whether you receive an excellent offer, or just a respectful offer.
wrote:
Actually, I looked this up just now, and most lenders seem to use
720 or so as the "perfect" level (even though Fair Isaac's FICO scores do go to 850).That may be the case with some scorers, but Fair Isaac's FICO uses a "percent of limit" number. See, e.g.,
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