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

Elizabeth Richardson wrote:

> 
> "Default User" <defaultuserbr@[EMAIL PROTECTED]
> wrote in message
> news:699lc6F31een6U1@[EMAIL PROTECTED]
> > 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.

That's credit. It's not what I've ever heard describe as a loan. A loan
is generally a specific amount for a specific purpose. The fact that
both loans and credit have interest (possibly) doesn't matter.

More specifically, I don't believe that credit cards were what the OP
was talking about. It is possible that I misinterpreted that.




Brian

-- 
If televison's a babysitter, the Internet is a drunk librarian who
won't shut up.
-- Dorothy Gambrell (http://catandgirl.com)

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