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@BetterTomorrow wrote:
One of my friends and I had a discussion about Fico scoring. He believes that having lower limits with about 50% utility will give you a better score than having high limits with under 10% utility. Hence, he purposely requested to lower his credit limits. I told him he was crazy but in his mind he thought I was an idiot. I even told him about this forums but he still believes what he believes. I realize you just can't get through to certain people no matter what but it's so frustrating to talk to people about something as vague as Fico scoring. What would be the best way to handle this situation? I'm thinking just let it be...
@Junejer wrote:
@BetterTomorrow wrote:
One of my friends and I had a discussion about Fico scoring. He believes that having lower limits with about 50% utility will give you a better score than having high limits with under 10% utility. Hence, he purposely requested to lower his credit limits. I told him he was crazy but in his mind he thought I was an idiot. I even told him about this forums but he still believes what he believes. I realize you just can't get through to certain people no matter what but it's so frustrating to talk to people about something as vague as Fico scoring. What would be the best way to handle this situation? I'm thinking just let it be...
Probably stems from the nervous banker's belief that if you have the credit available, then you can run it up. If he thought about what he said for just a second, he would realize that, from a common sense standpoint, it doesn't add up...wouldn't he?