Borrowing Capital

Discussion in 'Professional Trading' started by RisingTide, Jul 14, 2007.

  1. Surdo


    That was my bad.....A few cocktails too many!

    FICO = Fair Isaac Score

    FICO scores are your credit rating
    They range from 300-850, higher is better
    Most lenders base approval on them
    Higher scores mean lower interest rates
    FICO scores are calculated based on your rating in five general categories:
    Payment history - 35%
    Amounts owed - 30%
    Length of credit history - 15%
    New credit - 10%
    Types of credit used - 10%
    #11     Jul 15, 2007
  2. If your FICO score is 750-800 you should be getting the best offers from creditors.

    Here is the trick, you need a creditor who will let you use the money how ever you want, cash,purchase,pay of higher interest loans.

    They may charge a transaction fee some have a max-min, some set it @ 3%

    If you can find an offer for under 3% with no transaction fees, it's like free money, you can capture the spread.
    #12     Jul 15, 2007