Your Credit Behavior Affect Your Credit Score?
Q: Does your income have an affect on your credit score? Or does only your credit behavior affect your credit score? For example: John makes $120,000 a year, has an excellent credit history, and has a score of 820. Gary makes $45,000 a year, has the EXACT same excellent credit history as John. Can Gary get an 820 credit score too? Or will his score be lower because his income is less?
A: -If and when a lender wants to consider your income as part of a credit decision, he will ask you to disclose your income on the loan app. -The credit card companies and the banks could care less. Consumer credit is pretty much one size fits all. Having a good credit score is not going to make a difference when you apply for a mortgage or a car loan. It's pretty much of a scam.
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