I am interested in feedback on the following:
1. Veda uses a credit scoring system up to 1,000 points where ~600+ is in the green. FICO scores go up to 850 points. I'm assuming based on the more conservative banking world here that after a certain score point, it may be quite difficult to get higher?
What is the normal range of green scores here?
2. Although getting a credit card costs a few points upfront, with FICO it can actually add a big chunk of points once it starts being used within it's limit. Is this the same here?
3. What is the ideal credit card utilisation level (ie: percentage of total credit limit)?
4. Are New Zealand banks actively reporting to Veda etc?
5. If they are - is this reported at balance (statement) date or after due date?
1. Veda uses a credit scoring system up to 1,000 points where ~600+ is in the green. FICO scores go up to 850 points. I'm assuming based on the more conservative banking world here that after a certain score point, it may be quite difficult to get higher?
What is the normal range of green scores here?
2. Although getting a credit card costs a few points upfront, with FICO it can actually add a big chunk of points once it starts being used within it's limit. Is this the same here?
3. What is the ideal credit card utilisation level (ie: percentage of total credit limit)?
4. Are New Zealand banks actively reporting to Veda etc?
5. If they are - is this reported at balance (statement) date or after due date?
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