Credit Scores Age Like Vintage Bordeaux

Mon Aug 22, 2005



Life's trajectory is pretty predictable: Potty training, braces and pimples, all-night studying/partying, punching the time clock for 20 years, midlife crisis, shuffleboard and Pokino matches at the rest home, and finally -- permanent naptime.

Same goes with one's lifetime credit trajectory. A new study by the credit reporting agency Experian examined the borrowing habits of six age groups -- from credit score conception (applying for your first loan) to closure (paying off your last debt).

As you would expect, the older you get, the better you look on paper (at least to your banker). Here's the average score breakdown per age group based on Experian's PLUS Score range of 330 to 830 (higher being better):


Age 18-29: 637
Age 30-39: 654
Age 40-49: 675
Age 50-59: 697
Age 60-69: 722
Age 70+: 747

The early years (ages 18-39)
Your first credit card, your first car loan and mortgage, your first Botox treatment. It can take a while to establish a credit rap sheet, which explains why the youngest borrowers have the lowest average credit score.

But a few gray hairs doesn't mean you're done with those youthful indiscretions. The study found that those in the 30 to 39 age range had the highest number of late payments in the past year.

You might have outgrown lectures, but a gentle reminder (perhaps in the form of a Post-It Note on top of your overflowing pile of bills) is clearly in order. Timely bill payments are a biggie to banks. In fact, your payment punctuality makes up 35% of your overall credit score. So put the check in the mail on time -- every time -- to establish a strong credit score foundation.

The middle years (ages 40-59)
With age comes the effects of more responsibility and gravity -- and that goes for finance as well as for skin care. For those between the ages of 40 to 59, this means larger mortgages and higher education financing.

Americans spend an average of 26% of their income on monthly debt (excluding mortgage or rent). According to the Experian study, the 50 to 59 age group held the highest amount of debt -- an average of $21,256, excluding mortgage loans.

An important measure of creditworthiness is your debt-to-available-credit ratio. This factor makes up 30% of your overall credit score. Add up your outstanding balances and compare it to your credit lines. If you are near (or exceeding) your credit limits, lenders get antsy.

The golden years (ages 60+)
Senior discounts, life experience, and retirement aren't the only advantages to growing older. Like fine wine, your credit score gets better with age. The kids are done with college, the house is nearly paid off, and you've learned that it really is what's on the inside that matters.

While the 70+ age group had the highest credit scores when compared to young whippersnappers, Experian found that this group also used their available credit the least (just 13.3%). The high score is natural: 15% of your credit score is determined by how long you've been using credit. But putting the cards on ice can have a negative impact on how lenders perceive you.

Even if a card is reported as "open" on your credit report, if you don't use it occasionally, the lender will cease to report activity. (Important note: You do not have to carry debt month to month to improve your score.) Idle accounts aren't necessarily a big deal to those who have no plans to establish new lines of credit (or tap into existing ones, like home equity). But you want to make sure there's no funny business going on with your cards, either. So take an occasional peek into your credit file to make sure that things are still tidy.

Are you better than average?
According to Experian's National Score Index, the current average PLUS score in the U.S. is 678. How do you stack up against your peers? Check your credit file for accuracy and then look at your overall credit score. All three major credit reporting bureaus -- Equifax (NYSE: EFX - News), Experian, and TransUnion -- are required to give you a free credit report each year. (The program is being rolled out geographically, with total national coverage to be completed by September 1. See whether you're eligible yet.) You have to pay a few bucks extra to get your credit score.

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CBQ To Expand China Software Outsourcing Capability With Acquisition Of EasySoft
International, Inc.

Hunt Valley, MD—(BUSINESS WIRE)—March 1, 2001—CBQ, Inc. The E-Business Infrastructure Company, (OTCBB-CBQI-news) announced today that it has entered into a definitive agreement to acquire EasySoft International, Inc.

EasySoft International, Inc. http://www.easysoft.net is a leading privately owned English language software outsourcing company located in Beijing, China and Miami, Florida. The all-stock non-dilutive acquisition will be accretive to the earnings of CBQ, Inc. due to the profitability provided by this complementary business unit. EasySoft will operate as a wholly owned subsidiary of CBQ, Inc. The transaction is scheduled to close no later than March 15th.

“The acquisition of EasySoft presents CBQ with a singular opportunity to be a leader in software development and outsourcing from China by allowing CBQ to competitively pursue major U.S. software contracts and outsourcing opportunities,” said Bart S. Fisher, Chairman and CEO of CBQ, Inc. “EasySoft has been successfully providing software outsourcing from its Beijing office for nearly three years. The most significant aspect of its China success story is the English language environment of the company, which will allow CBQ to execute its business plan of providing high-quality, low-cost Chinese software programming services to U.S. customers. To our knowledge EasySoft is the foremost company in China focused entirely on commercial programming in English for the American market. This is a perfect fit for CBQ’s business model. EasySoft also has a very fine business analysis team at its headquarters in Miami, which is another great asset and completely complements our business development efforts in the mid-Atlantic region. We can now focus our complete attention on business development for the software outsourcing market here in the United States and execution by our new subsidiary in China.”

“Our access to quality investment capital from the US and China is also enhanced by this transaction” Fisher added, “and we are pursuing a high quality/low cost business model in one of the fastest growing markets in the US Information Technology industry, software outsourcing. The offshore segment of this market was more than $9.5 billion in 1999 and growing at the rate of more than 40% per annum. We are extremely excited about the possibilities this opportunity will create for the combined resources of CBQ and EasySoft.”

EasySoft has an impressive roster of international clients such as Acer Group (one of the five top PC vendors in the world), Samsung, People’s Daily (Beijing, China), ABN AMRO Bank, Palm Companies, Yupi Internet, Inc., and Solectron. In addition, EasySoft is providing software outsourcing services to U.S. and state agencies, such as the U.S. Department of Agriculture, the states of Tennessee, Florida, Montana, North Carolina, Maryland, Louisiana, and others.

“Our programmers are working around the clock in a coordinated effort to deliver our clients needs on time and on budget,” said Dr. Wei Sun, EasySoft CEO. “Very few of our competitors can say this. The combination with CBQ gives EasySoft a much broader sales and marketing reach into the U.S. market while it gives CBQ the quality production facility it has been working to develop in China. We have a completely flexible and scaleable operation in Beijing which is prepared for significant growth.”

Web based software examples of EasySoft's expertise can be seen at http://www.easymarketplace.com and http://www.comerciofacil.com.



About CBQ, Inc.

CBQ, Inc. is a full service, end to end E-Business solution provider. Through its subsidiary Quantum Technology Group, Inc., CBQ provides custom software, including web portal design and development, networking services and security, as well as many other web-based solutions. The company also provides information technology outsourcing resources to its clients.

For more information on CBQ, Inc., visit http://www.cbq.com.

This news release includes forward-looking statements related to CBQ, Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect CBQ's future results, see the company's filings with the Securities and Exchange Commission (the "Commission"). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations.

Contact:
Investor Relations
Gary Swancey, 954-757-0582


:=) Gary Swancey
Contracted Independent Investor Relations for
CBQI & DTGI, compensated a monthly cash fee
http://www.marketex.net/compensate.htm

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:=) Gary Swancey