Thread: Money Investing megathread extravaganza
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Old 11-10-2016, 08:23 AM   #467
Amnorix Amnorix is offline
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Join Date: May 2003
Location: Boston, Mass.
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Quote:
Originally Posted by Rain Man View Post
My understanding is that a credit rating isn't about your net worth or your ability to pay so much as it is your actual history of paying. A person with debt who pays on it unerringly is perceived as a very positive risk, even better than a person without debt who doesn't have a record of unerring payment.

This. And, to carry it one step further, the bank or other lender will look at your "balance sheet" overall to determine whether ot make the loan. Your credit score is only one indicator, primarily around "reliability". Even with 800+ he couldn't/shouldn't be able to buy a $1 million house on $50k of income or whatever.
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