Re: How Much Is A Credit Score (FICO) Worth?

"Default User" <defaultuserbr@[EMAIL PROTECTED]
> wrote in message 
news:699lc6F31een6U1@[EMAIL PROTECTED]
>> >
>> > You don't have to have a loan to have a FICO. I didn't have anything
>> > but credit cards up until I bought a house, and I certainly had a
>> > FICO.
>>
>> In what way is a having and using a credit card not a loan?
>
> You call that a loan? That's not any definition of a loan I ever heard
> of.
>

You buy something, but don't pay cash. The guy who sells it to you wants
to 
be paid promptly. So Visa loans pays the guy who sells you something and 
puts the charge against your account. If you don't pay the card balance in

full by the due date, they'll charge you interest. Whether or not you are 
charged and pay interest, you've had the use of their money for xx days,
and 
you have to pay it back. If that's not a loan, I don't know what is.

Elizabeth Richardson

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