fused wrote:Unless I'm blind and the OP posted their scores, this discussion cannot move along until the original poster shares their scores.
Problem here is 700 = good and 740 = very good. Hopefully the OP returns and posts their exact scores and not a range in scores.
Unless I'm blind and the OP posted their scores, this discussion cannot move along until the original poster shares their scores.
Background - I have a good score with all three credit bureaus, but only at around the 60% of the population level.
which in theory is around 700 - 740 if my memory of the distribution figures holds true, with 723 being the average. Depends what he means by 60% of the population level
Nope, sorry, I want logic! lol
RobertEG wrote: That is what this forum is all about... not seeking logic, but seeking wisdom.
RobertEG wrote:A blistering post upon reality! Never, ever, has anyone suggested that FICO is the begin or end all of credit worthiness. But if FICO becomes an issue in any credit situation, you dont have to agree that their scoring systems makes sense. You just have to live with it, and if you need it in any credit decision, know the rules of the FICO road. That is what this forum is all about... not seeking logic, but seeking wisdom. Pontification upon the rights or wrongs of FICO algorithm is like pissing in the wind. It only soils your own jeans!
just_curious wrote:. And please understand, the info to prove I pay off all my cards completely every month is readily available (e.g. - no interest charges). Why wouldn't that be relevant to FICO even without income and asset info????? How can a credit score be valid without that data point?
Try calculating your own utilization - it is possible that cards over $20,000 are not considered bas revolving credit
just_curious wrote:By the way, I also have some cards with good limits (>$25,000) which have very low usage every month.
just_curious wrote:Well, that may be correct, although my jeans are clean at the moment. Here's the issue - in a world where credit scores are checked by everyone from landlords to employers, you have to wonder how Fair Isaac gets away with such an illogical approach.