The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Mick Mørmøny who wrote (91180)	10/13/2007 11:05:47 PM
From: Mick Mørmøny	Read Replies (1) of 306849

If Credit Scoring Is a Sport, the Goal Is 850 By PHYLLIS KORKKI Published: October 14, 2007 Suppose you are an overachiever who has run out of things to achieve. What’s left in life? Well, here’s an idea: Try for a perfect credit score. Credit scores under the commonly used FICO scoring formula range from 300 to 850. Anything beyond the mid-700s is pretty much gravy to lenders, according to Craig Watts, public affairs manager for the Fair Isaac Corporation, which developed the formula. Most consumers (58 percent) have FICO scores of 700 or higher. Three main credit behaviors help improve a credit score, Mr. Watts said: never miss a bill payment date, take out new credit only when you really need it and keep your credit balances low. Don’t always keep your balance at zero, though: in order to have a credit history, you need to demonstrate that you are actually using credit. So for those who strive for perfection in all things, and want to try to reach 850 and receive a borrowing gold star, you know what to do. nytimes.com

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