They seem to have a payment culture, so maybe it is necessary to qualify for payment plans...?
Now, multiple web sites offer it. Some credit cards, like Discover, show your FICO score on your paper statement and in your online account.
I blame Credit Karma. It’s now so easy to stay on top of your credit score. Easier than it’s ever been.
If someone told them that the credit score would be “zero”, if they were debt-free, the millennial head would pop.
Someone needs to explain the components of the FICO score to these folks.
If you want a house or apartment, I can understand.
But after getting my home, I couldn’t care less what my score is. I hate buying things on a payment plan. If I can’t pay cash, then did I really need it?
That’s because the dimwits buried themselves in debt and have no clue that you don’t have to live as interest-paying slaves.
Yes they are very interested in their credit scores as it determines how much debt they can run up. My credit score has been 800 or greater for 30 years. I do not spend what I do not have with the exception of a house payment.
Conservatives will want the credit rating bureaus to be prevented from doing this.
Free market purists will say let the credit rating bureaus do whatever they want. If they get too silly then eventually they will go bankrupt ... while in the interim thousands of conservatives will be denied car loans and home mortgages. And BTW, if you don't like the current credit rating bureaus then you should start one yourself.
Agree with others. It’s so easy to see in almost real time now. No doubt it would become an obsession. It sort of has been for me lately torn on real reason other than seeing if I can drive it higher.
This just shows that advertising still works on some items...…………………….
I would add that use of the credit system and morphed form the original intent. Easy way to evaluate someone for a job, rent, dating, etc. One size fits all, not just for credit anymore...…………….
I’m a milly but I don’t worry about my credit score, my weight, or my IQ.
They’re probably only interested to determine if they even have a credit rating. They’re better off checking Mommy and Daddy’s credit rating.
The WWII generation paid cash for everything. Their children waited until their parents died so they could spend their inheritance. Their grandchildren live on credit cards. Their great-grandchildren live with their parents, watch their credit scores and dream of the day that they can get their own credit cards.
My millennial daughter was home a couple of weeks ago. She is 25 and a good young woman. A little to the left of Dad, but she has promise.
She was worried about making sure her credit card bill got paid because she didn’t want her credit wrecked. (She had a balance of $200 on a $5000 credit limit.)
This lead to a duscussion about credit scores. She asked what mine was. I told her 850. She asked how often I looked at it. I said never.
How did I know?
Because whenever a card came in with a balance I paid it.
How did I have money to do that? Wasn’t I kind of retired?
Because I only bought stuff I could afford. It’s easy.
She will learn.
I have no earthly idea what my credit score is. I’m more interested in keeping my net worth at $1 million, and my plan does not include any interest payments.
In maybe 40 years, I’ve only had two occasions not to pay credit cards in full the month they were due. That was when buying a house and the closing costs were underestimated by the mortgage company. Last house, the mortgage guy said “They say you pay your bills when you feel like it”. Sure did. I was out on the road busting my ass and making $$$. So what if the check is a couple days late. I pay when I have the time and inclination. I always have the cash. Never had to budget or balance a checkbook. I used trending - more $$ coming in than going out, then all OK. If the reverse, then don’t spend. And put a buttload away in a retirement account every month/year.
My daily driver is a Toyoya Tacoma pickup truck made in late 1997. It’s in nice shape, maybe 87,000 miles on the odometer. Might need a third set of tires after 20+ years. Still on the original rear drum brake shoes and the second set of front disk pads. I spend more on new wiper blades than anything. I would like to get new floor mats, a new cigarette lighter and maybe even replace the radio/cassette player, as it only comes on when it feels like it as of late.
Too bad they aren’t interested in doing an honest day’s work for an honest day’s pay.
We didn’t have an easy way to check the scores before.
It’s an apples to oranges comparison between generations.
We didn’t have an easy way to check the scores before.
It’s an apples to oranges comparison between generations.
Everybody jump on board the debt slave train...