Quote:
Originally Posted by ADL Colin
I was under the impression that it could go either way. Just depends on your credit mix and usage habits.
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Correct. The biggest change I see is getting rid of the "piggybacking". I'm a member of a P2P lending site and see this all the time. For example, a young college student will have A grade credit and their first line of credit started in 1980. Start asking questions and it seems the kid has NO credit, let alone A grade. Obviously they are an authorized user on someone else's account and if you're only looking at the FICO score, you wouldn't see that.
It's been my understanding that you've ALWAYS been dinged for using up too much of your available credit. I know my score just went down 29 points just because I got another $15K credit card even though I have zero in CC debt. It's all a game.
