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it is likely that is a bank card score and not a comprehensive credit score . many bank card scores run to 900 not 850 . they omit or unweight many other items that make up a full credit score . citi-discover-amex are all bank card scores . some run to 850 and some 900 but they can be quite different from a comprehensive credit score
Unless you're in the process of getting a house at a low interest rate, a credit score doesn't mean much. You can buy a car with cash and use a secured card for CCs.
I guess it's a nice peace of mind if you ever lost your job for an extended amount of time and somehow needed some emergency funds to borrow.
really ? in most states credit reports can make or break a job , an apartment , determine what you pay for auto insurance and reflect who you are as a person since generally how you treat your money speaks volumes about you .
if that does not mean much to you , you may want to rethink that statement
800 +
Indicates an exceptional FICO Score . Less than 1% of consumers with a credit score of 800+ are likely to become seriously delinquent (90 or more days past due within the next 24 months) in the future.
740 to 799
Indicates a very good FICO Score Approximately 1% of consumers with a credit score between 740 to 799 are likely to become seriously delinquent in the future.
670 to 739
Indicates a good FICO Score and is in the median credit score range.. Approximately 9% of consumers with a credit score between 670 to 739 are likely to become seriously delinquent in the future.
today you have to watch which fico score is used . as i said above fico 8 is not a comprehensive score it is a bank card score and most of them use a different scale that runs as high as 900 . fico 9 does not count medical debt , which can make your score appear higher than it is but few lenders use fico 9 scores so that medical debt remains embedded in your score in all its splendor.
there are 55 different fico scores and each lender gets one that is right for them , none of which are the consumer scores you see .
A poor credit score will prevent a person from being hired for jobs involving a security clearance. Employees need to resubmit for clearance every 5 years where I work. A seriously degraded score will eliminate the required security clearance, resulting in a far different job or no job.
Not at all. I’ve seen people get a divorce, end up with bad credit, and explain it to the investigator and they still hold a clearance. It’s the bankruptcy or missed payments sent collections they’re worried about.
I should know, I worked in the military as an intelligence analyst.
Quote:
Originally Posted by mathjak107
really ? in most states credit reports can make or break a job , an apartment , determine what you pay for auto insurance and reflect who you are as a person since generally how you treat your money speaks volumes about you .
if that does not mean much to you , you may want to rethink that statement
None of that ever happened to me back when I had subpar credit.
Apartment/management made sure my pay stub was 3x the rent plus security deposit and that was it. Employer never checked my credit and my auto insurance has not changed 1 penny regardless of my score.
People care if you declared for bankruptcy or had money sent to collections. They generally couldn’t care less about your credit score itself. Outside of low rates if I ever need to borrow money or applying for a cool credit card, please show me the awesome life changing benefits I’m entitled to for my high score.
If I told my auto insurance company to lower my rates because of my high score they would laugh. They also laughed back when I turned 25 and I thought I would get a discount. They said that was another huge insurance myth. (Company is USAA)
you rarely get those who want to play detective and sort the good from the bad by hearing their stories . it is far easier to just move on to the next person where there is no question about their credit .
the auto insurance industry demonstrated a strong link between credit score and trustworthiness when congress took them to task .
as a group there is a shadow of question-ability of honesty by association . why put yourself in that position .
just because you have not been denied something YET does not mean you won't be .
your rates are already based on your score . it is all ready part of your insurance score they use to price you . you don't call them to lower your rate because of your score .
keep believing your own bull! it will eventually bite you if it hasn't .
whoever told you credit scores and auto insurance is a myth should be fired for spreading false information . it certainly is part of your over all insurance score .
keep believing your own bull! it will eventually bite you if it hasn't .
Considering I live in Hawaii now, I guess my bull is pretty good.
Trust me, I was once like you thinking my high credit score would come with all these life changing benefits. It doesn’t as I don’t need to borrow money, my employer couldn’t care less, and my insurance company couldn’t care less..
no one really cares how you do or what you do . you can do as you like . but obviously you believe something that is far from true and are trying to convince others . hopefully they are wiser than you think you are. nothing is ever a problem until it is a problem .
pop on over to the nyc forum and see all the threads about those denied apartments because of credit .
Not at all. I’ve seen people get a divorce, end up with bad credit, and explain it to the investigator and they still hold a clearance. It’s the bankruptcy or missed payments sent collections they’re worried about.
I should know, I worked in the military as an intelligence analyst.
As a bankruptcy attorney I once successfully sued a company for hiring, and before she went to work "unhiring" someone who filed for bankruptcy. See 11 U.S.C. 525. I would consult an attorney since this is not legal advice, and every situation is different.
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