Re: In Search of the Perfect Credit Score

In article
<john-D2A7CD.18404222042008@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>,
"John A. Weeks III" <john@xxxxxxxxxxxxx> wrote:

Some people see a credit score as some kind of badge of honor.

Most people and practically all businesses see it as a measure of both
risk and security. They see it that way for good reason.

In reality, a credit score measure how profitable you are going to be
to the credit agencies.

The reality, backed up by numerous peer-reviewed published studies:
credit scores speak volumes about individuals' overall reliability (not
just on making payments on time); their view of the seriousness of
their obligations; their ability to accurately calculate value vs. cost
and their long-term practice of self-restraint and financial
discipline. Credit scoring lends an uncannily accurate credence to a
wide variety of assumptions about individuals, including those who live
"off the grid".

Put another way, how big of a cash cow are you. Giving money to
credit agencies is not my idea of building wealth, so I see a credit
score as a sucker rating.

I don't mean to sound pompous. While I agree it is foolish to build a
credit history for no other reason than to have a credit history, your
dismissive tone is otherwise unjustified as regards credit scoring. For
businesses, it is an excellent way to judge the risk of doing business
with an individual or even another company; for individuals, their
credit score can offer deep insight into what is wrong and right about
how they conduct their lives.
.

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