Do you think the majority of Americans have good credit?

[intheflow]

I really have no idea and am asking this to learn more about the issue. :hi:

[Liberal_in_LA]

1. I think more folks are ceasing to care about their credit.

[RKP5637]

9. I think this is quite true. For many this country is simply becoming a hopeless

place to live. You can only wear down people so much over and over and eventually they will not give a damn about anything.

These are not "bad" people, but many that have hit on hard times through no fault of their own. In this country of capitalism gone amuck, financial difficulties are often seen as a purposeful character fault in individuals by the "haves," who often show no mercy in taking advantage of those in financial despair.

Hence, I think many are starting to just not give a damn about their credit as it is a hapless journey to improve it...

[intheflow]

17. I agree.

It's a stacked deck. But this thread has got me wondering if anyone tracks this info any more.

[RKP5637]

19. Sadly, I think it's becoming "out of sight, out of mind" for many that should be... n/t

[Edweird]

2. No clue, but I'm guessing probably not.

[KILL THE WISE ONE]

3. define good 640 plus 720 plus ????

[intheflow]

8. I don't pay attention to credit ratings, myself.

I am poor and have been for some time. My credit rating is in the crapper. I haven't owned a credit card since 2002. The whole credit report thing annoys me because I think it's a stacked game in cahoots with the banksta gangastas, since they control the pursestrings that determine who has access to how much money at what rate. But exactly how many people fall within their good graces? Am I significantly deviant from the majority of my peers?

[KILL THE WISE ONE]

10. well okay then, if we are not talking about a scoring system but just

my opinion i would have to say, NO, trust/lend no one any more money then you would have just given them anyway.

[intheflow]

15. I am talking about the scoring system.

Just because I don't follow it doesn't mean millions of Americans don't follow it either. I'm asking if most people have good credit ratings and therefore, access to credit for housing, food, medical, etc., if they need it.

[Kali]

18. you don't get credit for those things if you actually need them

you generally get it for getting other crap when you already have secure housing, food, medical, etc.

if you NEED $$$ they ain't gonna give you any.

[Lifelong Protester]

4. I voted 'no' as I don't know how they could.

I have an impeccable credit score, and try hard to not use it (my credit cards, etc.) much, and I have had TWO cards in the last year go to 25% interest. 25%!!!!! I only charge an item once in a while to keep the card open, and then pay it off. But I wonder how a person with good credit gets socked with 25%, what does that mean for folks with mediocre to bad credit?

[Arctic Dave]

5. Since good credit is a gauge, some what, of a good job, I would say no.

[gristy]

6. average credit score in the US is 723

Looks like above 720 is very good, above 690 is good, and above 660 is ok.

So slightly under half the folks in the US have very good credit and a majority have good credit.

http://www.creditscoring.com/pages/bar.htm#average

[intheflow]

12. Your link hasn't been updated since 2007, AFAICT.

And it links to articles and papers from earlier than that, some going back as far as 1998. A lot has changed in the last three years, never mind since '98.

[sandnsea]

7. 90% are still working

So yeah, I imagine they have good credit. I also imagine a lot of them have used up all their available credit too.

[RKP5637]

11. Here is an interesting site that discusses all of the ranges in credit scores...

"What is a good credit score?
What is the average credit score?

The Bar
Finally, a way to tell exactly what is "good" credit. They actually come right out and give numbers."

http://www.creditscoring.com/pages/bar.htm

[intheflow]

14. Please see my post #12, talking about that same page.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=7942895&mesg_id=7943057

[RKP5637]

16. Thanks!!! Hadn't seen that earlier before I posted!

:hi: :hi: :hi:

[Luciferous]

13. I don't but I know quite a few people who do.

The people I know who are my age (28) don't have good credit though. In order to have good credit, they would need to have good jobs.

[intheflow]

20. UPDATE: According to this current report, all states avg. low credit scores.

This is a credit report page. They say to be considered as having good credit, one needs a score of 720 or higher. The state whose citizens scored the highest was S. Dakota, with 710. The lowest average credit score state? Texas, with 651. So yeah, it looks like the majority of DUers are right, most Americans do not have good credit scores, and thus, no access to credit.

http://www.creditreport.com/info/credit-scores/average-credit-scores.asp

Now can the media stop reporting on it like it's the real economy?