My Credit Score is Better Than Yours (VANITY)

me | 8/21/07 | me

[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?

[the_devils_advocate_666]

In all honesty, once you’re over 720, going any higher doesn’t make a hill of beans difference.

That's about what I figured.

[applpie]

gee.....the humble don’t have as far to fall as the vain.

[applpie]

gee.....the humble don’t have as far to fall as the vain.

[RockinRight]

Yes, but you want to be in a position to do so when you need to.

[ClearCase_guy]

Mine is 11.

[Ocracoke]

Every time your credit is checked, even if you check it yourself, your point rating will drop...go figure.

[darkangel82]

I canceled all my credit cards two years ago, and am currently in a lot of debt, so my credit is probably awful.

[absolootezer0]

better way would be to hit dealer incentives. jeep is offering 0% financing.

[the_devils_advocate_666]

Agreed, I need to get involved with a credit union. I did get 6.7% and didn’t worry too much because I plan to have the loan paid off in a matter of months, not years.

[Abathar]

Fortunatly that will never happen...</fingers crossed>

[MrB]

Learn to invest in real estate (not the stupid way) and you can turn your good credit score into cash in your pocket.

[Ben Mugged]

Now that you have taken out a loan it will go steadily down. The credit card companies will buy your loan info and run credit checks to give you unsolicited credit. Each time they run a query against you it lowers your credit rating.

Bizarre I know.....

[Hydroshock]

The best credit score is enough money in the bank to buy what you want and need without credit. It is better to be able to borrow a million or to have a million?

[Dilbert San Diego]

yep, that happens when finances are mixed in with a spouse who doesn’t handle money the same way as you do.

Does anyone remember that the credit bureaus at one time kept the formula for calculating credit scores secret? They didn’t want people to know what to do to manipulate their scores.

[Normal4me]

Lol! Is that pages? ;-)

[queenkathy]

How can child support, on an almost 18 yr old, be retroactive? You must have had a terrible attorney

[Mercat]

glad to hear that. Ours is only 789. :-( probably because I’m a lawyer and self employed.

[RockinRight]

Are you paying them all on time every month, even if only making minimums?

If so it’s probably not great, but not as bad as you think. However, it’s worse for cancelling the cards than just paying them off and leaving them open.

[reagan_fanatic]

Show-off :P

[5Madman2]

You may have a good credit score-but I have an unbeatable defense against identity theft.

After my Divorce-my credits so crappy, no one would want my identity :)