On Fri, Jan 7, 2011 at 9:05 AM, Justin Scott <jscott-li...@gravityfree.com>wrote:
> > The credit bureaus don't know how rich you are, only that you're taking on > more debt and inquiring about more debt in a short period. If you're > applying for a lot of debt in a short period, it's reasonable to assume > that > you're unable to pay out of pocket (otherwise why apply for debt in the > first place) so they assume that your risk factor is increasing and the > score goes down accordingly. A credit score is like trust in it has to be > earned over time. > See, I think that's a BS assumption. With no interesting financing, you can take on "debt" because it doesn't cost you a DIME, and allows you to hold on to your money for a longer period of time, allowing you to make more money with your money, for a longer period of time. This is the crux of what pissed me off about incurring no-interest debt, and having that hurt my score. I'm being SMART with my money, and it's costing me because of these "reasonable assumptions" that my sudden incursion of debt is probably a BAD thing. I dunno...i'm just ranting at the moon, but oh well. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:332990 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
