Posted on 08/21/2007 1:00:50 PM PDT by the_devils_advocate_666
I just went through the process of getting my wife a new (well, 2006 anyway) car. I had wanted to save enough to pay cash but my old car wasn't going to hold out quite that long. So off to the bank to secure the extra funds. In the process I found out today that my credit score was 819. The loan officer said he'd only seen one higher score. He's young, so maybe it isn't all that great, but...
What does a credit score like 819 do for me? Is there anyway I can leverage this to my advantage in the future? What's the highest possible credit score?
I was giving an example based on the OP’s scenario.
mea culpa
For men it never ends.
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/06/28/ndivorce128.xml
Ummm, the thesaurus is your friend.... start with 'boat'...
Well, then let's forget for a moment the risk of being in debt for a million dollars....
Risk works both ways.
No risk at all if you HAVE a million dollars to pay it off tomorrow, if you wish to.
Debt is feared for one reason: Can it be paid off, and how easily?
If you have a million and owe a million the answer is yes.
In most cases where a card is required to rent a vehicle I use my Debit card.
I looked at the rates from Visa and Mastercard and nearly fell over.
Congress needs to do something about the high fees and interest rates Creditors are charging.
The worst thing about having good credit (mine’s around 820)is that its way too easy to go to a car dealer on a whim and trade in a perfectly good 2001 GT Mustang with very low mileage (16998) for a very hot 2007 GT Mustang with a special muscle car package post factory/prior dealership. Believe me I should know ... but then you only go around once in life!
I weep for you.
Give me your SSN, Birthdate, Mom's Maiden name, current address, and financial loans in the past 12 months and I can "probably" get that for you! :^). No charge for FReepers.
Not true.
Pre-qualified credit offers aren’t based on a credit report, at all. They are based on an internal survey by the credit reporting agencies of people who match the criteria given to them.
Even your current creditor’s inquiries, who often re-check your credit annually, don’t affect your score.
Inquiries only lower the score when they are conducted with your permission for the purpose of granting credit. Even at that, it would take more than a few, say 4 or more in a six month period for the average person, to have a negative impact.
Inquiries that you initiate, and those provided by the credit reporting agency in bulk, will show on YOUR copy only, and not on a creditor’s copy. Again, they have no impact on your score.
Now, ask me about identity theft, ex-wives, their boyfriends, and how good they look in orange jumpsuits. LOL
myfico is awesome and a fantastic resource.
That's dangerous, unless you have a couple grand or more in your checking account.
At the rental counter, the auto rental service requests a "hold" on funds in your checking account, through your debit card. Generally, this hold can be as low as $500.00 or the actual rental charges, whichever is greater. Problems arise when that hold doesn't get released on time. Usually it's released when the actual rental charges arrive for settlement...but until that hold is released, you can not access those funds.
Just hope that you remembered the checks you wrote, the Smart Tag (EZPass) auto-replenishment debit that's due tomorrow, and your recurring phone bill payment.
The same goes for gas stations...they like to place holds too.
You have more rights as a customer with a credit card. And you can avoid interest (finance charges) by paying the new statement balance each month.
The forum there is also quite useful.
Ping me when the penis size post comes up.
But having a major credit card gives the responsible borrower a powerful tool in that they are able to dispute charges or have them charged back. Very handy if needed because cash only transactions are about impossible to undo.
The interest rate is zero if you pay off the entire balance each month...and I don't know about your situation, by my checking account bears interest, so it would cost me earnings with each use of a debit card.
My ultimate goal is to have a credit score of zero!
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