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

Thumper wrote:

> On Tue, 20 May 2008 12:25:09 -0500, "Default User"
> <defaultuserbr@[EMAIL PROTECTED]
> wrote:
> 
> > Daniel T. wrote:

> >> It seems to me that timely payments on loans increase your FICO
> >> while credit use (paying off the cards before interest accrues)
> >> does not. 

> > In the FICO scoring description, it doesn't describe anything about
> > what you say. If does mention debt to credit ratio, so the lower
> > your balances and higher (and more numerous) your limits, the
> > better.

> That's way to simplistic.  Once you have a credit card, you can
> usually keep it forever or at least several years without using it.
> Your debt to credit ration is good but you may not have a job or a
> penny to your name. 

I nowhere stated that debt to credit was the only FICO consideration.

> A high FICO is obtained primarily by using your
> credit to make timely payments over a period of time.

Fair enough. However, that doesn't match the OP's statement, where
paying off on time each month would not count. I agree that frequent
use with timely payments will improve your score. You don't need to be
paying interest.



Brian

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