jumbo wrote:Haha, I guess Sevenfeet is talking about, it would be illegal to impact your credit score based on the billing address change.
It's definitely not part of the FICO formula, BUT I doubt it would be illegal if it were part of it. It is certainly considered by many creditors as part of the equation when you apply for credit. Otherwise, they wouldn't ask how long you've lived somewhere when you apply for credit. Above all, creditors value stability. That's why they don't like excessive inquiries or new credit (which could indicate that your financial situation has turned for the worse). It's probably not a huge part of their decision, but given two people with the exact credit report, scores, and income- they would be much more likely to approve the guy who's lived in the same place for 10 years and worked at the same job during that time than someone else who has moved four times in one year.
In my Wallet:
Sometimes in my Wallet:
- Amex PRG NPSL[3-14, bd 91]
- Sallie Mae MC $8000[1-14]
- Chase Freedom $4700[1-14]
- Discover It $2750[8-13]
- BoA UCF Alumni Cash Rewards $5000 [3-15]
- GM BuyPower WEMC $5000[9-14]
- Wells Fargo Propel 365 Amex $7000[4-14]
- Barclaycard Arrival WEMC $7000[3-14]
- BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450