I was guessing that since your homes and autos total costs and balances are on the report they would factor it in. I guess if you owned ten homes outright they wouldn't know.
On Fri, Jan 7, 2011 at 10:05 AM, Justin Scott <jscott-li...@gravityfree.com> wrote: > >> If I'm rich as shit, and want 100 different debt's open >> at once, but I manage to pay all of them off...why should >> my score have EVER go down? > > 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. > > It all makes perfect sense to me, but if you have a better solution I'm > always up for considering them (not that I'm in a position to change the way > the credit system works, but I do find alternatives interesting). > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| 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:332994 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
