Borrowing Capital

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%
 
Quote from RisingTide:

My FICA score is very good. I don't have much for collateral though.
More...

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.
 
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