Posts: 46
Registered: ‎08-07-2007
Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

MattH wrote:

One thing I do find slightly irritating about the reporting system: there is no distinction made between revolvers and convenience users. Only I and the credit card companies know that I always pay the full balance each month.
Oh, yes, there is.  A typical convenience user probably uses 1 or at most 2 cards, and probably the month-to-month usage is significantly lower than a typical revolvers.  Unless you have relatively young trade-lines, by now you have probably gotten your CC limits about 15-20 times higher than your average balance.  That means that in your typical month, your utilization is in the 5-7% range.
I will tell you what the credit scoring can not catch: the difference between those who pay interest and those who borrow at 0% to invest elsewhere.