LizardKing posted his FICO score earlier, and that got me wondering. Last month mine was 677, pending deletion of an unpaid judgement that I just got vacated, and a charge-off. My score was is the 32nd percentile, and I am "2.86 times more likely to have a serious delinquency than others with an average score." What is the percentile for 702 and some other numbers?
Your BEACON score: 813 The information in your Equifax credit report has been summarized in a BEACON® score of 813. Most U.S. consumers score between 300 and 850. Generally, the higher your score, the more favorably a lender will view your application for credit. Compared to the national population, you are in the 93rd percentile of consumers by credit risk. A score of 813 is well above average. Studies show that for consumers with scores similar to yours, the odds of successfully repaying all their credit accounts are 4.10 times better than for people with an average score.
responding... 1 paid car loan....original amount=$12,950 1 mortage......original amount=$97,843/current balance=39,532(have doubled [at least]payments from day one) 11 credit cards(5 closed by consumer) 6 open=2visa 1MC 1 Discover 1amex 1sears total balances owed=approx.$1500 oldest account = 9 years almost I have never been late etc. NO negatives....stumbled across this board looking for info to help my sisters who unfortunatly rang up bad debts with LOSER boyfriends and 1 husband
Re: responding... WOW!!! HolyShitt BATMAN did you see that!!! 813 AS you can see the more Cards you have and pay with small balances, the better your score. @!#$ kinda smells fishy to me. The more credit cards and loans you get the better your score. I'm at 650 and trying to get a couple more cards just to sit onthe books and marinate. WowedNVegas
Re: responding... quote from earlier thread........... "You have probably heard that scoring systems grade you on the likelyhood the loan will be paid back. This is only partially accurate. Modern decision/scoring systems are designed to find the most profitable customers--not the most reliable. The most profitable customer is not the one who regularly pays off the balance and knows her legal rights. No indeed. Banking profits come from overdraft charges, late payment fees and sky high interest on revolving balances. The profitable customer is deeply in debt and ashamed to challenge overcharges for fear of incurring the wrath of creditors. Scoring systems are designed to find customers who are in this trap and keep milking them, then dump the account just before the victim is forced into bankruptcy. Being an intelligent consumer and managing your money wisely will put your credit score in the dump. Spending so much that you have to borrow to survive will go a long way toward improving your credit score"
Goldengirl Yep, That's about the perfect credit history for a high score. This is a model we can all aspire to. I know I wrote it down. I have all of the above but not the mortgage anymore...and my balances are WAY above yours. So I know what my work is...PAY PAY PAY down the balances. Thanks for putting your history on the board. it really gives us a perfect model to shoot for. judy
