You have to excuse George. He has 25 years of perfect credit, a 6 figure credit line and less than 10% utilization, and a FICO of the low 700's. Whenever he pays down his debt, his score goes down. Whenever he doesn't pay down his debt, his score goes down. Whenever he closes a credit line, his score goes down. Whenever he opens a credit line, his score goes down. Whenever he eats Shredded Wheat for breakfast, his score goes down. FICO's algorithm has one set of rules for all of us with crap credit and another for George. It's called Unless You Are George Factor (UYGF). The FICO simulator says your score will go up if you pay your bills on time, UYGF. The FICO simulator says your score will go up when you pay down your debt, UYGF. The FICO simulator says your score will go up if the CA's and Subprime lenders drop off your file and are replaced with prime lenders, UYGF. The FICO simulator says your score will go up if you refrain from applying for credit, UYGF. The FICO simulator says your score will go up......well you get the idea, UYGF.
ALL CAPS GEORGE.....LOL "Ode To George"......By SnakeMan. There once was a guy named George In time he certainly did forge, a good credit rating by always debating every mountain and mole hill and gorge. .......or George worked as hard as a tractor and every dispute....he tracked her. but nevertheless one has little success when bound by the "unless your george factor" Vote for your favorite... SnakeMan
I have to say that this is EXACTLY what I am going through lol!! I still say the CRA's are a conspiracy. Notably, my banker said today that if he was in the credit reporting business he'd get out because they are in a heap o' trouble. And to that I say "YES!!" Fair is fair!
Hilarious! -------------------------------------------------------------------------------- Originally posted by Flyingifr Whenever he pays down his debt, his score goes down. Whenever he doesn't pay down his debt, his score goes down. Whenever he closes a credit line, his score goes down. Whenever he opens a credit line, his score goes down. Whenever he eats Shredded Wheat for breakfast, his score goes down. --------------------------------------------------------------------------------
Re: Re: Understanding Poor GEORGE Nestea posted this elsewhere but I thought it really illustrated George's problem and deserved a spot in this thread too: http://discovermanagement.com/JERSEYBABY.GIF :-D Doc
Re: Re: Re: Understanding Poor GEORGE Flyingifr, you must have been typing at the same time I was. Great minds think alike!