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Question By
ChuckyBobby

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Why is NET WORTH not part of your credit score evaluation?
One comment from 1 credit agency said I had no recent mortgage history.

There was no mention I had 6 properties paid off.

I was taught to not buy what I could not afford and use credit only as you really need to, but it seems I would be better off owing a mortgage or two as part of my total debt.

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Personally, I'm glad that my net worth isn't part of my credit score or history.  I wouldn't want the bureaus/creditors/collectors knowing how much I'm worth, nor would I want ANYONE poking about my personal finances.  I mean, how would they obtain that information, from your financial institutions, IRS, stock brokers?  Remember that credit scores are derived from what is in your credit report.  You may not be aware of this, but all your current creditors and collectors can pull your report and see exactly what's what.   Just my opinion.

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Well how much someone isn't relevant

You could lose your job tomorrow and how much someone makes doesn't indicate how responsible you are with bills and credit. It's always great to keep a track record of credit to make it look better such as a mortgage, car loan, and installment payments of any kind. Paying off things immediately is great but don't expect them to help you magically build up credit. Once you become more realistic about how credit is built then your score would increase. Use the resources and links to get more knowledgable about how credit works...

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cvicious85

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*makes

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Credit Karma is here to provide education on how credit works and how to build and maintain a good credit score.,  Please read the articles and utililze the financial tools here to lear how to make credit work for you.

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