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Actually there is nothing wrong with boasting about that. It means he keeps his promise of paying those he owes back and doesn't abuse credit. Too bad a lot more people aren't like that.
Well, my comment was asking specifically whether he meant the word "boosting" (which he wrote) or "Boasting."
But to address what you've said, I agree. However, NJBest posted something that is true: It depends on details. If you earn that score by having zero credit lines and no debt, that's not anything to boast about. However, if you earn that score by having debt (whatever the form may be) and managing it appropriately while actively having that score, then that is impressive.
Irrespective, it's nothing to boast about. My score is very closely similar and I'm dealing with hundreds of thousands of dollars in student loans. It's all in the details.
My story is I have about 6 different Credit cards that have been used for about 20 years, never late or unpaid ever. I have had a mortgage and car payment but not now. I have never carried a balance from month to month.
I can't figure out what is unique about me, you would think there would be tons of middle aged people who always paid their bills on time. Why is my FICO score in the top one percent? I really don't know.
Last edited by I'm Retired Now; 01-28-2014 at 07:01 AM..
You beat me by 1. Mine is, or was 2 years ago, 823. I had a mortgage then, I don't now. I have no clue what it is today.
And I don't care. I think credit ratings are one of the biggest scams perpetrated on people. There are too many mistakes made and it's too hard to correct those mistakes, or so I've heard. Dealing with credit agencies must be a lot like trying to correct a mistake with the IRS. I'm not playing the game. I have NO bills, no credit cards, no recent history. Because of that, my score has probably gone down. That should be a clue as to the kind of hoax they are.
Your FICO score is societies score about you. If you have a high FICO score you are more likely to:
Get lower interest rates on credit cards, a car loan and mortgage
Can get into an apartment even if your income is lower than standards
Get a job dealing with money
Get lower insurance rates
Quote:
Originally Posted by Dale Cooper
You beat me by 1. Mine is, or was 2 years ago, 823. I had a mortgage then, I don't now. I have no clue what it is today.
And I don't care. I think credit ratings are one of the biggest scams perpetrated on people. There are too many mistakes made and it's too hard to correct those mistakes, or so I've heard. Dealing with credit agencies must be a lot like trying to correct a mistake with the IRS. I'm not playing the game. I have NO bills, no credit cards, no recent history. Because of that, my score has probably gone down. That should be a clue as to the kind of hoax they are.
Your FICO score is societies score about you. If you have a high FICO score you are more likely to:
Get lower interest rates on credit cards, a car loan and mortgage Can get into an apartment even if your income is lower than standards Get a job dealing with money Get lower insurance rates
If one does not want credit cards, a car loan or a mortgage because they always pay cash they don't need a fico score
If one has a good payment history with past landlords and pays cash on time every month they do not need a fico score because they have no debt and a good history with the landlord
If one has their own business (like I do) one does not have to worry about working for someone else.
If one pays cash, has good history with their insurance company, no issues with tickets, pays on time and in full when it comes to the insurance premium they do not need a fico score.
Hence the reason I do not care about a fico score and more than likely never will.
Everything is paid in full the day it is purchased or it is not purchased.
No mortgage, no car payment, no boss, no problems with landlords, no problems with utilities, etc.
With the recent thefts of tens of millions of credit card numbers and personal information, I think there is way too much that is out of the card users control. You may have had sterling credit for decades, and it can all be wiped out in a minute. Too much hassle.
My problem is that I have NO FICO score. I never believed in credit cards and have worked hard to live debt free as much as possible.
I recently got my first credit card at age 38 to help build credit. I use it for everyday items and pay the balance 100% each month, STRICTLY.
My partner has a score in the 800s, so my new home was financed under his name only. It sucks that the industry punishes people like me who live credit and debt-free.
My partner has a score in the 800s, so my new home was financed under his name only. It sucks that the industry punishes people like me who live credit and debt-free.
Meh... you are not being punished.
You are seeing the consequences of CHOOSING to be credit free.
And your choice to be debt free really put the burden on your partner, who now carries both of your debt.
You beat me by 1. Mine is, or was 2 years ago, 823. I had a mortgage then, I don't now. I have no clue what it is today.
And I don't care. I think credit ratings are one of the biggest scams perpetrated on people. There are too many mistakes made and it's too hard to correct those mistakes, or so I've heard. Dealing with credit agencies must be a lot like trying to correct a mistake with the IRS. I'm not playing the game. I have NO bills, no credit cards, no recent history. Because of that, my score has probably gone down. That should be a clue as to the kind of hoax they are.
Your thinking it is a hoax doesn't matter. It's how the world turns.
A good FICO also helps in the rate. If you have a decent rating you may be able to get a loan or mortgage but you will be charged a higher rate. If you have an excellent FICO score you will get the best rate.
Also would you lend money to someone without a credit history? What makes investors any different?
Actually there is nothing wrong with boasting about that. It means he keeps his promise of paying those he owes back and doesn't abuse credit. Too bad a lot more people aren't like that.
You've confused (1) having the virtue with (2) boasting about it.
Boasting is boasting - a declasse move.
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