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Descent credit -- new car???
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<blockquote data-quote="squeak9798" data-source="post: 2005500" data-attributes="member: 555320"><p>Don't try to understand credit scores.....you never will //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif</p><p></p><p>Seriously though....working the lending industry for 6+ yrs and attending many seminars that cover the subject, I can honestly say that I put little value on credit scores in general. I've seen way too many inconsistencies in the scoring to put much faith into them, and the formulas used to derive the scores are extremely complex with hundreds of variables. (I've never seen the actual formulas (trade secret), but have been lectured numerous times on things that affect the score) On top of that, all it does is confuse consumers....things that they think should help their score many times don't.</p><p></p><p>Just pay your debts on time, keep your quantity of credit cards low, and don't keep high balances on your cards. Beyond that, don't worry about it too much as you can not play the "credit score" game with the scoring agencies...they're way, way, way too complicated.</p></blockquote><p></p>
[QUOTE="squeak9798, post: 2005500, member: 555320"] Don't try to understand credit scores.....you never will [IMG]//content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif[/IMG] Seriously though....working the lending industry for 6+ yrs and attending many seminars that cover the subject, I can honestly say that I put little value on credit scores in general. I've seen way too many inconsistencies in the scoring to put much faith into them, and the formulas used to derive the scores are extremely complex with hundreds of variables. (I've never seen the actual formulas (trade secret), but have been lectured numerous times on things that affect the score) On top of that, all it does is confuse consumers....things that they think should help their score many times don't. Just pay your debts on time, keep your quantity of credit cards low, and don't keep high balances on your cards. Beyond that, don't worry about it too much as you can not play the "credit score" game with the scoring agencies...they're way, way, way too complicated. [/QUOTE]
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