Average credit scores - Democratic Underground

Tab

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Sun Sep-09-07 11:18 PM
Original message

Average credit scores

Experian has been advertising on Yahoo for quite some time now, posting the "average" credit score and that you can find yours for free (and presumably get hit up for credit protection or whatnot).

Regardless, when they started, their proclaimed "average" credit score was 678. Now it's up to 692. And yet, I thought (because of the housing market) that personal credit ratings were taking a dive. How can it jump that much? The economy leaves much to be desired - I've known better times - so what explains that, or are they lying (I would like to think not).

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Progressive_In_NC

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Sun Sep-09-07 11:32 PM
Response to Original message

1. Mine jumped 80 points

I was told that it was because my numbers are being measured against an average and the average for people my age (32) was going down, while mine was going up.

Don't quite understand how that works to be totally honest. I paid all my bills this month, just like last month.

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beyurslf

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Mon Sep-10-07 12:04 AM
Response to Reply #1

2. I know debt ratio is part of it too...not just paying on time. So if you carry less debt over

month to month, your score goes up more.

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fed-up

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Mon Sep-10-07 12:22 AM
Response to Original message

3. now its extra points to have late payments or a foreclosure-credit score now measures likelyhood

that you will want to borrow money at some point

who the hell cares what kind of risk you pose

in fact the more debt you are in the more we want to loan to you

we need people to shop

latest headline mumbled something about it being up to the CONSUMERS to keep the economy roaring

we need distractions from the war

as long as you are breathing we will lend you money

sarcasm tag here...

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Katherine Brengle

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Mon Sep-10-07 03:43 AM
Response to Reply #3

4. It's a disaster.

The system doesn't give a crap how much actual debt we have - it requires us to have a certain amount but beyond that it just wants us racking up as much potential credit as possible - i.e., get more credit cards.

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Buns_of_Fire

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Mon Sep-10-07 04:31 AM
Response to Original message

5. I believe mine is in the "Shoot on sight" category... (n/t)

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