NEW YORK (MainStreet) — You’d think with 7 billion people around the globe, Santa Claus would have other matters on his mind than his credit score.
But metaphorically, at least, Old St. Nick isn’t so busy that he can’t keep a top credit score of 777, according to the consumer credit website, CreditSesame.com.
Credit Sesame offers an amusing but highly instructive tutorial on Santa’s credit score, and it might be a good idea to put down the eggnog and see how the North Pole’s most famous resident earned his stellar credit rating.
Here’s how the site breaks it all down:
Longevity helps: Being centuries old, Santa – who dates back to 4th century Turkey – gets a big boost from having a long credit history. The longer a consumer borrows money (and pays it back), the higher the credit score. Credit Sesame says length of credit history accounts for about 15% of consumer credit score criteria.
Payment history: As someone who makes good on the promise of delivering gifts to kids all over the world in a single night, Santa has the bona fides, Credit Sesame believes, to warrant a high credit score. “Santa’s payment history is likely very good,” the site says. “We’ll let his track record of delivering gifts to millions of children around the world on time each Christmas season to speak for itself.” The company says payment history is a huge component of a consumer’s overall credit score, at 35%.