The FICO credit score system is really very, very simple. Like another member before me said, pay your bills on time(as you agreed to do when you sign a CC agreement or any type of loan contract), don't abuse your available credit, and be patient. This will result in a high credit score and low interest rates. Look at it from a lender's perspective. If your neighbor who had everything he has financed to the hilt, and just moved in 6 months ago, came to you and asked you to borrow $1,000.00 you would probably be very reluctant. OTOH, your neighbor across the street has no debt at all, has been in the neighborhood forever, asked you for the same, you would be far more comfortable lending the money.
There is no credit scoring system that is perfect, there will always be gray areas, unusual conditions that are not accounted for in the software, or just glitches. But to imply that there is some sort of conspiracy between FICO, the banks and the US govt. is pretty far fetched.
I've been following this forum for a while now and the ones who subscribe to these theories usually have lower credit scores. You don't see too many people in the 760-820 score range who think that way. Think about it.
Love this!
Oh well, it does add entertainment.
