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dangerp
Member since: June 2008
Total Contributions: 1
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(1 Total Contributions)Trends by Age
to quote:
"Keep in mind the chart does not mean you can't have high credit if you are young."
I have always read that one of the keys to a higher credit score is longevity. In fact, according to a very reputable source, the optimal amount of time to have an account open is 40 years! How is a 20 yr old supposed to get that?
The system handicaps the already handicapped young people by assuming that just because they have 'only' had an account for the last 7 years (let's say, since as long as they were eligible to sign themselves up for an account), they are a credit risk. Sure, this person might have an OK credit score if he has zero blemishes, but never a great score.
Comment posted 3 years ago
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to quote:
"Keep in mind the chart does not mean you can't have high credit if you are young."
I have always read that one of the keys to a higher credit score is longevity. In fact, according to a very reputable source, the optimal amount of time to have an account open is 40 years! How is a 20 yr old supposed to get that?
The system handicaps the already handicapped young people by assuming that just because they have 'only' had an account for the last 7 years (let's say, since as long as they were eligible to sign themselves up for an account), they are a credit risk. Sure, this person might have an OK credit score if he has zero blemishes, but never a great score.
Comment posted 3 years ago