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That’s because they are counting power and utility bills now towards your credit score.
Did Trump make that happen? Of course not.
Fail.
Utility bills have always appeared on your credit report, but only if you are late.
Quote:
The bad news for consumers is that, typically, utility bills only appear on a credit report when they're delinquent. In most states, providers aren't obligated to regularly report payment histories to the major credit bureaus; in fact, there are significant disincentives for doing so......
Americans’ average FICO score has hit an all-time high of 706 on the personal credit rating scale. This is another metric whereby the strength of the US economy may be gauged. It shows that, in larger number than ever before, Americans are able to make money, pay their bills and borrow money when they need to.
That's not what the post you responded to said. Did you criticize Trump when he said our country and our economy was a disaster during his campaign? He completely ran on the platform that the USA is a disaster, and only he could fix it. His words!
I'm happy that the economy is doing well 'today'. Some of that is due to things Trump has done (I believe they are short term boosts, and longer term will cause trouble, but that's just my opinion), much of it is a continuation of the strong economy of the last ten years. If you look at, for example, the increase of the DJIA from around 2010 to 1/20/17, and then from 1/20 to today, I think you'll see a slightly steep slope before Trump took office, than after. That's not to say anything, other than to point out that he is not telling the truth when he acts like everything good is to his credit.
Also, another person pointed out that the score is calculated differently now, which impacts the numbers. So the historical average is not an apples to apples comparison.
You sure do hate it when people discuss facts. Sure, the economy is strong in some ways right now, and also has some vulnerabilities. Hardly a unique situation. Rather than defending misleading info, how about ackowledging reality, so we can all do what we can to fix what's broken, and maintain what's right. Is that so hard?
But does not support the theory that it is all Trump.
The statement being made is that the economy is in trouble. You have made it yourself.
The increase in FICO scores indicates that that narrative is wrong. The economy is not in trouble. If someone has promoted a theory that it is "all Trump", I have not noticed.
Trump is President.
The economy is good.
Those are two facts.
The statement being made is that the economy is in trouble. You have made it yourself.
The increase in FICO scores indicates that that narrative is wrong. The economy is not in trouble. If someone has promoted a theory that it is "all Trump", I have not noticed.
Trump is President.
The economy is good.
Those are two facts.
Again, then Trump needs to get off the Fed's back about lowering interest rate. Since the economy is so good, maybe they should raise them.
Americans’ average FICO score has hit an all-time high of 706 on the personal credit rating scale. This is another metric whereby the strength of the US economy may be gauged. It shows that, in larger number than ever before, Americans are able to make money, pay their bills and borrow money when they need to.
Actually, it is not. The FICO scores have been inflated in the decade since the recession.
"....Consumer credit scores have been artificially inflated over the past decade and are masking the real danger the riskiest borrowers pose to hundreds of billions of dollars of debt.
...That’s the alarm bell being rung by analysts and economists at both Goldman Sachs Group Inc. and Moody’s Analytics, and supported by Federal Reserve research, who say the steady rise of credit scores as the economy expanded over the past decade has led to “grade inflation.”...
...When a slowdown comes, there could be a much bigger fallout than expected for lenders and investors...".
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