- Platinum Member
- Posts: 93
- Joined: Wed Aug 17, 2011 10:53 pm
- Location: USA
According to a Fair Issacs rep in an article/interview I read... I forget exactly where (probably from the FICO website):
If your mother has used credit cards in the past and has built credit in the past, it is entirely likely that those older lines of credit - along with her probably-very-old-mortgage-that-is-paid-off - are still showing/will still show as positive factors in her credit report.
My own father is 60something and he for sure still has 'good credit' points from his first mortgage (first house) being all paid off and on time from way-back-when.
That said: No credit is 'better' than bad credit because at least with NO credit, you have a blank/clean slate. With BAD credit, you have a bad credit history behind you which your score is the consequence of and that bad credit history stays with you for a while.
One person may have a 0 for their score, but that's because they don't have anything at all to score them with.
A second person may have a 450 for their score, which is 450 more than a 0, but their Poor Credit is because they messed up their credit history.
AMEX: Everyday (MR), Macy's (cobranded)
MASTER: Citibank Dividend Platinum Select (non-World version)
VISA: Chase Amazon Signature, Chase (bank issued)
GE: Care Credit (medical expenses), Macy's (store), JCP (store)
AMEX: Costco True Earnings
VISA: Chase Ink Cash