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Posted on 10/23/17 at 4:40 pm to tigerfoot
quote:
What is the big freaking deal about credit scores, we have good credit, but I cant imagine a few point swing from 800 to 760 making that big of a difference in my life.
My credit report lists me as the president of a company I started when I was 19. It does nothing. I am not self employed.
A higher credit score allows me to go in, say I make 100k a month, and get a loan for whatever I want without proving income.
I would not do this...but if I find out I'm dying...
Posted on 10/23/17 at 4:43 pm to Steauxn
The number one thing I took from getting a mortgage is that the credit apps usually overreport your score by about 40-50 points.
Posted on 10/23/17 at 5:17 pm to Evil Little Thing
quote:
I feel like I’m the only person who consistently appreciates you on here.
He's the reason I still read the board
Posted on 10/23/17 at 5:40 pm to yellowfin
At my age, don't need one. Not planning on buying a house or plane. Car or truck, I will just pay cash.
Posted on 10/23/17 at 6:07 pm to Muthsera
quote:
Poor people work for cash. Smart people let their cash work for them.
Yeah. I hear that a lot. I also know the banks are making a chit ton more than they are giving out.
Posted on 10/23/17 at 6:17 pm to LucasP
quote:
If you're gonna brag/lie, do your research, credit scores don't go that high. Jackass.
I hear John Belushi's voice when I read that.
Posted on 10/23/17 at 6:25 pm to X123F45
My current FICO score is 830. I'm disappointed in myself for not having a perfect 850.
Posted on 10/23/17 at 6:31 pm to LucasP
quote:
If you're gonna brag/lie, do your research, credit scores don't go that high. Jackass.
Wut???
Posted on 10/23/17 at 6:33 pm to X123F45
804 when I just bought my new house. Paid almost 6 figures in student loans off in a little more than two years, have never missed a mortgage payment, paid all the cars off early, and pay credit card statement in full each month. It'll go up quick if you're disciplined.
Posted on 10/23/17 at 6:44 pm to Steauxn
quote:
fair enough. But to be honest 720ish to 850 will result you in the same interest rate / credit worthiness rating.
quote:
You are correct, we call them bullets. 720+ and you're good to go.
...rating of 850 beginning late 80's / early 1990's. There are many powerful advantages from having above 720... Combine 850 along with various assets and you can end up with some pretty attractive and convenient privileges to be used to your advantage.
Posted on 10/23/17 at 6:49 pm to BigPerm30
Curious what the average credit score of Baton Rouge residents is?
Posted on 10/23/17 at 6:57 pm to dallastiger55
quote:
Curious what the average credit score of Baton Rouge residents is?
Wuts credik baw? I don't need no credik to get this payday loan imma pay back when I get paid
Posted on 10/23/17 at 7:57 pm to 13SaintTiger
Just bought a house, wife and I were both at 805.
Posted on 10/23/17 at 8:00 pm to LucasP
They go into the 800s.
Posted on 10/23/17 at 8:02 pm to X123F45
842/850 according to Discover.
Posted on 10/23/17 at 8:07 pm to Steauxn
quote:
sorry for the rotation, but you can all see that credit scores can range up to 870ish
No, I don't see a single one above 840.
But we do know now that Kaylynn is around 730-ish.
Posted on 10/23/17 at 8:12 pm to TurkeysAndBees
This is the greatest branding/marketing scheme in history.
Your FICO score is simply a profitability rating for lenders, and they've tricked everyone into thinking it's not.
I have no debt. None. House, student loans paid off. No car loans in 10+ years. Use one credit card for points pay it off in full monthly. High income, high liquidity. But I laugh and you'd laugh at my FICO score. My CPA and my financial guy both tell me to carry some debt and pay it monthly just to inflate it. frick that.
Your FICO score is simply a profitability rating for lenders, and they've tricked everyone into thinking it's not.
I have no debt. None. House, student loans paid off. No car loans in 10+ years. Use one credit card for points pay it off in full monthly. High income, high liquidity. But I laugh and you'd laugh at my FICO score. My CPA and my financial guy both tell me to carry some debt and pay it monthly just to inflate it. frick that.
Posted on 10/23/17 at 8:13 pm to X123F45
Do credit scores matter? Can’t remember anybody asking for a credit score.
Posted on 10/23/17 at 8:20 pm to TheCurmudgeon
quote:
My CPA and my financial guy both tell me to carry some debt and pay it monthly just to inflate it.
Either you should fire both of them or you don't really understand what they are saying. I'm betting on the latter.
quote:
Your FICO score is simply a profitability rating for lenders
Nope, it's used for a wide range of other things. For example, a bad FICO may mean you get to pay an advance to get your utilities/cable started in a new home. It can impact a security clearance application.
And it doesn't indicate how profitable you are either. For example, credit card vendors get a "swipe fee" paid to them every time you use your card. This is part of how profitable you are as a customer, but has nothing to do with FICO.
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