Credit Scores-Avergae Scores

Discussion in 'Credit Talk' started by robertw477, Aug 1, 2003.

  1. robertw477

    robertw477 Well-Known Member

    I read this line from an article on MSN. I think it came from Bankrate.com. They mention the following as info that comes from Fair Isaac-
    Credit scores range from 300 to 850. Only about 11% of the surveyed population ranks above 800; 29% ranks between 750 and 799

    I beleive that is totally a pile of crap. I highly doubt that 29% of the country ranks between 750-799. My credit is airtight. I use penty of lines for business, pay emm off ontime etc and my score is 740.

    To say 1/3 or all americans are 750-800 cannot be true. I can only wonder why Fair Isaac gives out that sort of info. According to those stats 40% of Americans rank at 750-800+. There is no way that is true. From what I have seen I tend to think the average scores are mid to higher 600s.

    Rob
     
  2. klingsor

    klingsor Well-Known Member

    sure it is. just think about how many people there are -- count the old people who have decades of history on their accounts, those who only have one credit card they hardly ever use... it's quite possible.
    You don't hear about them b/c they have no need to visit sites like this.

    11% above 800 seems a little high to me but 29% between 750 and 799 I can see. Most people have no need to ever be late on an account and certainly no need to ever have collections, bankruptcies...
     
  3. lbrown59

    lbrown59 Well-Known Member

    Most people have no need to ever be late on an account and certainly no need to ever have collections, bankruptcies...
    klingsor
    ==================
    But the corrupt so called system makes it happen to many of them anyhow.
     

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