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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (69080)	8/30/2006 1:57:54 PM
From: NOW	Read Replies (1) \| Respond to of 110194

<how does the CC co know you have "good income and sufficient assets"?> you mean you didnt read the fine print in your tax return this year about sharing this inforamtion with anyone who wanted it and could pay?

To: Wyätt Gwyön who wrote (69080)	8/30/2006 2:34:30 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 110194

Whether you like it or not, your credit score will suffer if you have utilized more than 25% of your available credit. This is the way Fair Isaacs, and similar scoring models, calculate credit-worthiness. You can describe this as a flaw in their logic, but I doubt they care. They sell credit scores and you do not. Having a large line of credit, mostly unused, indicates that a credit granter has deemed your income and assets sufficient to qualify you for a large line of credit. So while a credit report doesn't directly indicate your level of assets or income, it does indicate how various lenders you deal with have responded to the level of income and assets you revealed to them. Their actions don't guaranty their level of due diligence was sufficient, but it gives other lenders some idea of your ability to repay debt - and they can do their own due diligence from there. .