The 850 Fallacy

[Anonymous]

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@mborgens wrote:
On the report it said my credit was higher than 99.10% of U.S. consumers. Who are the .9, and how are they higher?

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The .9 are equal to your score not higher than you. Consider it the 990 club.

[mborgens]

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@Anonymous wrote:

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@mborgens wrote:
On the report it said my credit was higher than 99.10% of U.S. consumers. Who are the .9, and how are they higher?

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The .9 are equal to your score not higher than you. Consider it the 990 club.

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Pizza, that is exactly why you are not in the 1% club! Because if you were, you would be sure that there are .9% of the population out there meeting without you. Where's my invite! Where are my pills!

Message Edited by mborgens on 08-08-2008 09:58 PM

[Anonymous]

I understand what you are saying. I'm guessing there could be levels of 990.

Like if you have (just making this stuff up as I go along, no specific numbers)
990 with 2 inqs,
990 with 1 inq,
990 with 0 inqs

or
990 with more open accounts
990 with more closed accounts
Maybe one is better than another?

or
990 with age of 10 years
990 with age of 20 years
990 with age of 30 years

I'm guessing that they all show up 990 but one may be higher than another if you really want to be super technical. Technical or not a 990 is still a 990. If a lender pulled your score they would never know if you were 0.1% or 0.9% just that the score was 990.

[Anonymous]

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@mborgens wrote:
.9% of the population

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I've seen 990's with as high as 2%. That places you more than 50% higher than other 990's.