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?

[pierstroll]

One of our clients came in with 815 abd shylky asked what kind of loan she could get. I said when you have that score, you tell them the rate and terms of the loan.

[RockinRight]

True.

I mean from a credit score standpoint it’s usually worse to close them.

[stephenjohnbanker]

I have a friend who has an 850 score.

Everyone tries to lend him money :-)

[jennyjenny]

Checking your own credit does not ding your score.

[pierstroll]

“and shyly” spelled better

[Hacklehead]

“How do I find out MY credit score?............”

I checked it for you. It’s 615. No need to thank me. :-)

[rabscuttle385]

That’s generally true. But it doesn’t really matter if your intent is to just pay off the cards and be done with them.

[hcd707]

 3.14159

[the_devils_advocate_666]

Why didn't you pull a home equity loan against your house to get an even lower rate?

Just wanted to get it done as fast as possible. If I thought I'd have the loan for a long time I would have considered other options. But I should be able to pay off the car by the end of the year, if not by Thanksgiving.

[RockinRight]

LOL...don’t be surprised if they expect zero closing costs and 1% fixed 30 years on a mortgage though. ;-)

[rabscuttle385]

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

Do they offer GAP coverage?

See post 47.

[JJR RNCH]

You should pick up Dave Ramsey’s book The Total Money Makeover. Just finished it and I’m gonna give it a try. Just a FYI.

[TASMANIANRED]

Of course they will keep it confidental but when a new vehicle shows up tranferred to your name...the offers will come ...

[Tijeras_Slim]

`Twas brillig, abd the shylky toves
Did gyre and gimble in the wabe:
All mimsy were the borogoves,

[Red Badger]

I said my Credit Score, not my Cholesterol Level!......

[Dixie Yooper]

You can borrow several 100’s of thousands of dollars and play the stock market with a score like that...

[Realism]

What does a credit score like 819 do for me?

The world is your sand box, if you can afford the monthly payments.

[djf]

Two years ago mine was 795.

Then last year it slipped to 697.

I didn’t do not a single freakin thing different last year, so I don’t know what the deal was. But it’s still pretty good, I guess.

[Sax]

The in the video clip on post #48, the guys seems pretty adamant that his is much, much higher.

[rabscuttle385]

I have read stories about some folks applying for 30-40 credit cards in short fashion, using the no-fee 0% APR balance transfer check offers, and plunking the money in high-yield, FDIC-insured savings accounts.

They make the payments right out of the high-yield accounts.

After the cards are paid off, rinse and repeat.