A credit score lesson?

Discussion in 'Credit Talk' started by dm4x, Oct 15, 2001.

  1. mj

    mj Well-Known Member

    Terri- it would take too long and it will change next month anyway : )

    My point was- there's lots of scores and the numbers are about as useful as boobies on a bull to most of us. It isn't like school where an A was better than a B+ ...

    One more thing that I didn't mention, the "magic number" that you hear mentioned -- i.e. you need a "680" to get Amex or "710" to get Toyota's best rates... are moving targets- they move around just like your credit score does.

    The best thing I can recommend to "learn" about this non-sense is to read everything FICO has on their website, then look at www.creditscoring.com.

    Good luck,
    mj
     
  2. OtherTerri

    OtherTerri Well-Known Member

    mj- I guess it's more like the grading system at my oldest kids alternative high school-exceeding expectations, meets expectations, approaching expectations, and just beginning. I don't understand that either, and each teacher uses it differently!

    Thanks!
     

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