Originally Posted by
PhoenixRev
It shows that that one person *may* be stable. But what if I am a savvy consumer who shops around for a new credit card at a lower rate when my current CC company raises my interest rate? I have done that several times.
How does that make me less stable than someone who has a 20-year-old account?
I said had
a credit card for 20 years. I didn't say (or mean!) the
same one!
The point is that if you have evidence of credit going back multiple decades, one or more employers, one or more home address, and so on, that person is
much less likely to be a terrorist than somebody in their 30's who just popped up "in the system" six months ago.
If I were implementing such a system, I would design a metric based just on the
number of records (including inquiries) in a person's credit history and the number of years they span and not care anything whatsoever about the content of those records.