[ARCHIVED THREAD] - Credit score (Page 1 of 2)
Posted: 10/20/2008 3:52:37 PM EDT
| Went to the bank to borrow some money so I can build a getaway cottage in the country. They ran my credit score and it was 801. My wifes score was 803. They tell me that is pretty good. what is yours? |
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Was warned recently if I don't take out any loans I will not have a credit score at all. I have mixed feelings about it. I don't need to borrow any money for anything right now but don't want to so I can have a score. I wonder what no score will get me in the future? For those who are wondering what I am talking about it was explained to me that if I don't have any mortgage or car payments that my payment history will get too old to be an indicator and I will lose my credit score due to inactivity. I don't like being blackmailed into borrowing money and paying interest to keep a bullshit number at a certain level... |
You will not lose your credit score due to inactivity, or so I was told last week by 2 differant banks. |
Your score will drop without activity. Close an account w/0 balance, your score will drop. open an account it will drop. Bury yourself in debt and make minimum payments for the rest of your life and your score will skyrocket. This is the American way. |
Walk into any car dealership, bank or mortgage company with 50% down and a score of 500 and watch what happens. Cash can fix anything. |
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Wrong, I have no idea what it is now but the last time it was pulled about 5 years ago it was 733. I am in the process of screwing it up though. I canceled all my credit cards, paid off my truck and I am starting to pound away at my student loan, then the house 15 years early. I don't need a debt score. 
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Bringing a thread back from the grave....
DO each of the Big Three credit companies have different numbers for a credit rating? My rating is in excess of 900....but I don't see many with this high a number. I got the number from the credit company themselves while getting my once a year free report.... |
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Wow, I thought mid 800s was the max.
I get 3 different numbers when I do a credit report. All within a few numbers of each other, but the average between the three was 742. It doesn't move much for me, and I have no debt on my CCs and my car will be paid off in Feb. |
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Quoted:
Wow, I thought mid 800s was the max. I get 3 different numbers when I do a credit report. All within a few numbers of each other, but the average between the three was 742. It doesn't move much for me, and I have no debt on my CCs and my car will be paid off in Feb. That's my understanding as well, the way my banking officer explained the formula a person can never achieve a "perfect" credit rating but he said my rating of 842 was the highest he had ever seen including his, my wifes rating was 840, go figure. BTW, I keep up with my credit rating even though I only have a mortgage debt. I never know when I'll need short term cash to execute a business deal. |
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I let my father finance a new van a number of years back in my name. The van's engine blew. Father couldn't make payments and pay for new engine at same time. Van repossessed.
I will never be given credit again. I will never be able to buy a house of my own. My life is pretty much screwed. I'm assuming my score is pretty damn low! 
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What's the official website to pull your report for free every year? I had it but forgot. www.annualcreditreport.com |
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I predict everyone posting in this thread will have a credit score of more than 750.  your 800 is as good as it gets when i sold motorcycles highest I saw was a 805 the vast vast majority were in the mid 600s anything over 700 is quite good over a 740 and you can party much get whatever ya want I personally take my credit very seriously depending on my debt load mine goes from 790-800 I won $20 off the finance guy at the dealer I worked with when I told him Id be within 10 points of 800 if he ran my credit |
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So the 949 score I was told by Trans Union is wrong?
Says I got better credit than 94% of the population.... Not calling BS on anyone, just asking.... I make pretty good $ (excess of $100 yr) and owe on a house and a car...thats it. I've had same credit card since 1989 and have always paid off balance at the end of each month...sometimes the balance has been $3-4K during a big vacation or something. I never buy anything I don't have $ in the bank for....use my CC as a plastic checkbook...same as cash...NEVER finance charges... |
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I'm not telling the OP my credit score. He can go steal someone else's identity. Really...just knowing a credit score number without DOB, SSN, full name, passwords, phone numbers (current and past), addresses (past and current) you can steal my ID? Ahh I don't think so... 
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Was warned recently if I don't take out any loans I will not have a credit score at all. I have mixed feelings about it. I don't need to borrow any money for anything right now but don't want to so I can have a score. I wonder what no score will get me in the future? For those who are wondering what I am talking about it was explained to me that if I don't have any mortgage or car payments that my payment history will get too old to be an indicator and I will lose my credit score due to inactivity. I don't like being blackmailed into borrowing money and paying interest to keep a bullshit number at a certain level... You will not lose your credit score due to inactivity, or so I was told last week by 2 differant banks. This is incorrect. A credit score is a probability that you will pay back money you have borrowed. If you borrow no money, then the numbers cannot compute. BTW - having no credit score is not a bad thing. FWIW - Mine was 823 just a month ago. |
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So the 949 score I was told by Trans Union is wrong? Only one of them (Experian, I think) uses the FICO score. The others have their own scoring system, which have different outer parameters. Check out creditboards.com for more on credit reporting. |
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Mine is about 650 When I bought my truck a couple months ago, the salesman told me that it was low because of no activity for the past 10 years. BTW 650 didnt help me get a loan very easy , but I did get one........at 18%  OUCH!! You oughta be able to refi that through your bank...They deal with your funds and know you are good to go and can be helpful sometimes. 18% is like the interest rate for a crackhead. |
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815 not bad for 22. Yet Amex is cutting my llc's credit limits. Congrats! That's EXCELLENT, for ANY age much less 22! Funny thing is , AMEX is cutting your limit because it's TOO good! You could get credit anywhere and suddenly go on a buying binge. Seriously, that's why they are doing it. |
[ARCHIVED THREAD] - Credit score (Page 1 of 2)
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