So did I, but after I got over 810, I backed-off on cards and am down to 2 now. I paid-off my mortgage 30-yrs ago, and always buy vehicles/equipment for cash now, so those are factors in FICO anymore. I’m due for another free yearly set of reports from the 3 reporting agencies, in December.
I’ve been debt-free for many, many years, and it feels great. I hope they learned that lesson, too.
Very well. I am in debt on mortgages but have tenants paying it. I am in debt on my new car because I believe the rate of inflation will erase the interest. The principle remains.
People need to take a class on money. It moves and it is helpful to know where. God Bless
We have several credit cards, but zero credit card debt. ALL cards get paid off every month. The cards we have are mostly "store cards" which give cash/credit incentives for shopping ther, which we already do. One card is issued through our credit union. House has no mortgage, both cars bought for cash. I think we've been debt-free for twenty years now.
Both my wife and I came from (relatively) dirt poor but hard-working parents. We both earned PhD's in chemistry paid mostly from our own earnings/scholarships and "some" student loans. We paid off the student loans in five years after graduating. Both sets of parents imbued us with a work and save ethic (they all having lived through the Depression).
Today's younkers don't have a clue.