Quote:
Originally Posted by DETRoadster
Quote:
Originally Posted by bimmer456
I pay off all my other cards so my risk is low to lenders. Also, my newest account is over a year old. Low credit utilization ratio to total credit limit raises your score.
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To a certain point it does, then it begins to work against you I believe.
Bottom line, it's all just a algorithm, whether we agree with it or not. We provide the variables and the program spits out a verdict.
When my wife and I leased her car they pulled our scores. She had a score of 871. The theoretical max is 850 so figure that one out. Everyone was dumbfounded. Must have been some bug in the program. It's like scoring 25,000 on your SAT.  |
Yeah different banks use different algorithms. Some might even have a range above 850 so your score will vary from lender to lender even if it's with the same credit bureau on the same day.