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URL:  https://boards.fool.com/like-you-aj-i-don39t-carry-a-balance-and-my-34278247.aspx

Subject:  Re: Ever heard of the 30% rule? FICO Date:  8/21/2019  4:35 PM
Author:  rainphakir Number:  312595 of 312702

Like you, AJ, I don't carry a balance, and my FICO has been over 800 since... ? I don't know, cause I don't track it regularly. Seems like it's mostly 820-830?

I only have two CC s. I don't know the percentage of my monthly expenses to total available credit. But, it might be in the 10% neighborhood?

Is 850 really better than 820? When would I really care?

Those FUD stories usually come across to me as "OMG!! EVERY AMERICAN OWES CC DEBT $XX THOUSANDS! OUR GRANDCHILDREN WILL BE PAYING.. TEOTWAWKI!" Etc.

I don't remember any of those stories saying "but wait, 40% of CC users pay the balance each month! Ie 40% do NOT have CC debt!".

FORTY PERCENT are "responsible" users.

Most articles do NOT report that, and are therefore trying to spread FUD about how bad is CC debt.

FUD n Blood sells. Good news doesn't.

I agree that CC debt is not FUD for those in debt. It's a tragedy, regulations are anemic in response to abuse by both debtors and creditors. And FICO is part of that abuse.

🙂
ralph
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