We paid cash for our house. I am not sure we even have a credit rating.
Strange thing is, they badger you to obtain their cards.
Then they badger you to use them.
Then they get upset when you have them and use them.
Who scores these banks who give you 0.0000001% interest on your savings, and then charge you 12.5 to 29.9% interest on what they loan you?
I had one credit card company call me all concerned because I had a high balance under my credit limit.
I start getting letters telling me I have a new monthly payment due in 20 days. By the time I’m down to five or four days, they’re in complete panic mode.
I pay my bills 36 to 24 hours before they are due.
My spreadsheet financial planner has due dates on it, and I only beat them by a few days. Why should I give them float time on my money?
We have 3 Credit cards, a mortgage and a line of credit but our bank doesn’t report so our’s changes according to how much we charge on the CCs every month but it stays in the 800s.
When someone lists their EBT card as a source of income, they may not qualify for a loan.
My wife asked what ours was and I told her I hadn’t checked but it might as well be 850. We’re retired, own everything we have and can pay directly for anything we want/need - with no reason for a loan.
I have a lousy credit rating. I buy everything cash.
We use two credit cards; pay the balance monthly (no finance charges). We have a mortgage, have never missed a payment. No car loans, no loans of any kind.
Credit score is 745.
To improve this score, I guess I would have to borrow money like there’s no tomorrow and pay partial balances (and pay interest).
This would increase my credit score?
No, thank you.
A “deadbeat” is the unflattering term sometimes used in the credit card industry to describe consumers who pay off their balances every month, using the lenders’ money but paying no interest on it. The more-polite, official term is “transactor.” Since the recession’s end, deadbeats — or transactors — have been on the rise, since more consumers see the wisdom of using credit cards as a tool of convenience, not an instrument of debt.
Read more: http://www.creditcards.com/glossary/term-deadbeat.php#ixzz4BB2gwccf
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Retired. All I need is owned outright. Pay cash for everything. No debt. Could care less about credit rating.
God has been good to me.
I know a lady whose husband abandoned her and her daughter and ran off with a stripper. The divorce financially devastated her. Her house went to foreclosure and she had to declare bankruptcy.
The last time I saw her she told me that her credit score had incredibly skyrocketed to 780. Being freed from the debt trap the banks just could not wait to reel her back in.
Dave Ramsey is right. Your credit score is nothing but a measure of how well you kiss a*s to the banks. Worry about the basics, not this score.
And never buy anything big, appliance, car, tv while in escrow. I know of a couple that went to HOme Depot while in escrow and purchased appliances on credit, the house they were buying had none. They did not get the loan as their ratios changed that much having new credit.
Wells Fargo Bank has lowered their scores to 620, it makes me so mad, they are not qualified with that kind of score.
You need a minimum FICO score of 620 to qualify for a VA mortgage loan.
The perfect borrower, you are. Once you can prove you don’t need the loan, lenders are pounding you with offers.
Paid off the credit cards, the mortgage, the car. Got a fantastic credit rating now that I no longer have the slightest intention of using it. I just wish they’d leave me alone. Do I have to get back in debt for that?
Go to http://www.credit.com for a really free report.
They update once a month.
We received a late fee balance on a card we NEVER used. They charged us a fee, then charged us a late fee then sent us notice. THAT was when we found out about the card fee in the first place.
I called them, got NASTY people telling me how evil we were. Had them put the manager on and He ALSO was nasty until I informed him the card had never been used! He changed his tune cleared all the fees and late charges then proceeded to try to sell me on how good the credit card company was and would I like to have one. I asked if he was kidding me!