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Is having a credit score really necessary?
Posted on 11/12/12 at 4:06 pm
Posted on 11/12/12 at 4:06 pm
OK. After one has their main home purchased is it really possible to live in America without credit? Is it still possible to start small and purchase with cash? Slowly purchasing nicer "stuff"?
Discuss...........if possible.
Discuss...........if possible.
9
Posted on 11/12/12 at 4:11 pm to Daygo85
quote:
Discuss...........if possible
Discussed about once a month on here...at least.
Feel free to search.
Will Cover in 3..2..1 with his nonsense.
If you can't understand why a good credit score can help you, I
Posted on 11/12/12 at 4:32 pm to Daygo85
if you got lots of money, no, otherwise yes.
Posted on 11/12/12 at 4:36 pm to Daygo85
If you have the discipline to live cash only, is it really that much of a leap to just use a credit card for utilities or something and keep it paid off?
Posted on 11/12/12 at 5:38 pm to Daygo85
Don't be stupid. A person can use credit with out being in a lot of debt.
Posted on 11/12/12 at 7:43 pm to Daygo85
Your credit score affects the cost of every insurance product you own.
Posted on 11/13/12 at 4:07 am to Daygo85
One can live without credit, sure. But why would you want to? There's a big difference between borrowing foolishly and borrowing wisely, having the option of doing the latter is very good.
Not to mention that getting 1-2% cash back on virtually everything you buy is nice.
Not to mention that getting 1-2% cash back on virtually everything you buy is nice.
Posted on 11/13/12 at 11:53 am to Daygo85
I own my home and have no debt. I shall only make one more move, to the grave. There is no need for me to have a credit score, good or bad. But when I built my house 16 years ago it was very important that my credit was good.
Posted on 11/13/12 at 4:05 pm to Daygo85
I will answer the question you should have asked "Is a credit score worth a shite?"
- No, it's a laughable model to use as a whole, amongst many other issues. That being said, I acknowledge that there are few other blunt comparable alternatives so institutions will use what they can, and most banks/users have their own modifications and use it as a basis for a forward looking framework.
Your original question is asinine, of course it's possible, but it's not wise as many have pointed out. Hard to be seriously wealthy without levering up brah.
- No, it's a laughable model to use as a whole, amongst many other issues. That being said, I acknowledge that there are few other blunt comparable alternatives so institutions will use what they can, and most banks/users have their own modifications and use it as a basis for a forward looking framework.
Your original question is asinine, of course it's possible, but it's not wise as many have pointed out. Hard to be seriously wealthy without levering up brah.
Posted on 11/13/12 at 6:27 pm to Daygo85
Every insurance you buy now is partially based on your credit score.
Pisses me off to high heaven.
Our homeowners is routinely $500-$800 a year more than it should be because we struggle with bad credit.
I have a sick child and medical collections pop up on my credit report continuously (a whole other thread).
We have been a GREAT risk on our homeowners... no claims, low risk, etc.... and yet my score is based on lifelong family illness and not my status as a homeowner.
Pisses me off to high heaven.
Our homeowners is routinely $500-$800 a year more than it should be because we struggle with bad credit.
I have a sick child and medical collections pop up on my credit report continuously (a whole other thread).
We have been a GREAT risk on our homeowners... no claims, low risk, etc.... and yet my score is based on lifelong family illness and not my status as a homeowner.
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