August 23, 2008

HousingPANIC Stupid Question of the Day

Do you care what your credit score is?

Bonus #1: Do you even know what your credit score is?

Bonus #2: So why do you care what your credit score is? Looking to rent some money from a bank, or rack up more debt with the rest of the sheeple in order to buy crap you can't afford and really don't need? Looking to keep up with the neighbors? Looking forward to a life of debt slavery?

74 comments:

Anonymous said...

Don't know what my credit score is.

Don't care what my credit score is.

Would prefer a credit score of ZERO as it would make it tougher for some thief to use my identity to gain credit for him/herself.

I know it may make it harder to get a job but those are the chances I'm willing to take and I'm willing to explain my reasons to any potential employer.

Anonymous said...

I care because if I want to borrow money I don't want to pay an arm and a leg. Face it, you wanna buy stuff online or get a hotel room, you need a credit card.

Anonymous said...

yes

800+

I dunno

Tyrone said...

My credit score a good amount above 800.

And I don't give a rats ass!!

All that matters is that I have no debt. Debt is slavery.

Anonymous said...

"Face it, you wanna buy stuff online or get a hotel room, you need a credit card.

No you don't. You just need money in the bank and a Visa DEBIT card.

If you don't have money in the bank then you have no business buying stuff online or getting a hotel room.

Anonymous said...

Yes

~780

I care because its a reflection of my character and reputation that I pay my debts on time on target and in full.

Anonymous said...

I do - it's somewhere in the 700's, or was, and I couldn't care less. They can keep their money. While I do have some debt it could be paid off at any time from savings.

TJ said...

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Rate a relator you've used!

TJ

Anonymous said...

818 mid-Fico

no debt of any kind
I rent

Paul E. Math said...

Depends who you ask. Ranges from 660 to mid-700s.

Credit scoring is another one of those things that has a justifiable stated purpose but in practice is something else.

The stated purpose of credit scoring is to differentiate between high-risk and low-risk borrowers and charge them accordingly.

In practice, credit scoring has become a way of justifying exhorbitant rates of interest and fees for the most minor of credit mistakes. Credit scoring is one of the means of bondage for our modern form of slavery.

Back in 2004 I moved and around that time I bought $100 worth of stuff with a new Gap card to save %10. What with the move and all the Gap bill never got forwarded to my new address and I just spaced on it.

It was 6 months later that a collection agency found me and said I owed $250. My bad, no doubt - I paid the $250 over the phone right then and there with my routing number.

I deserve to take some financial punishment - but how much is fair?

My record is otherwise spotless but, because of that slip, if I were to get a mortgage now I would pay thousands extra.

This incident proves I'm capable of forgetting about $100 owed to me or by me. But it's a pretty big leap to say I'm capable of forgetting about a $2,000 mortgage.

Yes, it matters to me because I would like to borrow money to buy a home when prices are reasonable.

Anonymous said...

.

The last time I bought a vehicle,

they said, "were going to have to run a credit check"

I said, "I'm paying cash"! (small inexpensive vehicle)

They said, we have to run a credit check anyway!

Go figure?
.

Anonymous said...

no... don't care...
The anonymous said.. his credit score of over 800 and has no debt is either a liar or a multi millionair plus. I have no credit card deb and not personal loans, car loans ect, do have 3 morgages that are income producing. Some shit told me I need revolving credit to up my credit score. WTF. Don't give a shit about my f-ing credit score. I can buy with cash.

joe biden said...

I think about 750.I care because it helps me get better rates when I borrow.I think credit is great.Use it to your advantage.

Anonymous said...

Pretty much any management job will require a credit check these days. A bad FICO score can mean not getting hired. Might not be right, might not be fair, but it's reality.

And even if you don't borrow money, a poor FICO score means higher car insurance rates, higher renter/home insurance too.

Anonymous said...

I have only two credit cards that I pay off in full every month. The only I have credit cards is to have a credit history. I am a renter and move often so I need to impress the landlords with a good credit score. It also helps me get lower premiums on insurance.

Stuck in So Pa said...

Anonymous said...
Yes

~780

I care because it’s a reflection of my character and reputation that I pay my debts on time on target and in full.
============================
Funny, I am in the same boat and my credit score is CRAP! I have always paid off ALL bills on time, pay the credit cards that I do use (only use cards that give rebates on all purchases,) in full every month, and own house and cars outright.

The credit industry does not like me!

Fortunately for me, any major purchase I make I can pay cash, or go through my small local bank, where I have excellent credit if I want a loan!

SuckItExperian said...

No

It has nothing to do with one's character! It is a measure of how much money you make banks by being fing stupid.

Anonymous said...

I knew what it was 8 years ago when I bought my current house. i pay for my cars in cash so i don't get regular updates.

I do care but not enough to go find out, i know it is still outstanding and I can't really do anything else to improve it.

I think I care but I am not sure. I do still borrow money for business ventures but I don't ask what my score was as it has never been a problem to borrow. I rarely have to personally guarantee the business loans(non-recourse) so I am not sure they check my score but they probably do.

Anonymous said...

car insurance rates are based in part on your credit score. Insurance companies believe (or claim to believe) that people that are late paying bills also cause accidents.

smithers said...

yes;

780;

I only cared enough about it to take out a 2 week loan at my credit union to boost my rating since my credit history had no credit history other than CC.

I'm going to inherit a car from my grandmother in november and, previously, drove my grandfather's after he died so I never had to take out a car loan.

Anonymous said...

800+

No debt is good, but no debt and good credit is better. Right now I have both. A debit card is not the same because if it gets misused, you can't call and stop payment. I have one Mastercard and no debit card.

Anonymous said...

Stupid Question and Waste of blog space.

Try Again.

Anonymous said...

No.

No.

I don't. I'm sure my landlord knows and cares, but I don't.

steely damn said...

Do I know? Do I care?

No, and No. I have no debt and I pay cash when I buy things. We recently bought a new car (Honda Fit) and my visiting relatives wanted to know "what the payment was". There were blank stares when I said there is no payment, we own it.

I get the impression that most people these days bumble along month-to-month trying to make ends meet. What a sad way to live.

Anonymous said...

A FICO score is an I Love Debt Score.

http://www.daveramsey.com/etc/cms/index.cfm?intContentID=4123

http://www.daveramsey.com/

SeattleMoose said...

It used to be a badge of honor. It used to imply that one was a good citizen, paid their bills and taxes on time, and was fiscally conservative. Now it sometimes feels as it means.... "I'm a sucker".

These days, lying, cheating, and oinking your way to the top seems to be the goal of many. We live in a culture of gamers and shysters. Going bankrupt is no big deal. The CC companies can hardly wait to give you credit again no matter what you have done in the past. During the RE bubble loans were given to pets and dead people. Shame and accountability are in full retreat....

The traditional "good citizen" model of "keep your nose to the grindstone" sometimes feels like being a slow dinosaur getting killed by rats in a race designed by and for the latter.

That being said, paying my bills and taxes on time, and "playing the game clean" allows me to live with myself. And THAT is more important than anything else, regardless of whether you want to put a number on it or try to spin it.

Pokey said...

I just found out my credit score for the first time. I was always curious but didn't want to pay to find out. Then I got a free years report from one the big three agencies and was happy to find out it was nice and high. I knw=ew that it should be, but you never really know what they are gonna base it on. And for that matter, you never really know what kind of info they have right or wrong about you. Anywhoo, not using it for anything, but it is sorta cool to know.

Anonymous said...

these people bragging (lying)about their credit scores are a laugh. If it didn't take anything to buy a house or a big F10 super heavy duty Truck with a 25 gallon tank and 4 tires in the back didn't matter who cares what your credit score is. I came out of an awful bankruptcy (chap 13) (caused by my silliness thinking my husband was really in the game, he wasn't) and I kept MY HOUSE I bought in my name, who cares where he went, 2 years later I was able to refi with better terms than before. No crazy loans, no different house payment every month and I bought a new truck a tiny Chevy Colorado. Fortunatly my loan came with cash so screw your credit score. With so much SHIT floating around for sale people will figure out a way for you to buy it own it or rent it. Also did I mention paid for (sense I don't have bills that is the lesson I leaned) I paid for an amusement park a day vacation for 5 days (including DisneyLand) and a back to school shopping excursion while in SOCAL paid for with an ATM so quit believing the credit score is reason you are alive. Lets face it you aren't John McCain and you can't remember how many houses you have. I hope my next vacation will be a trip abroad and of course paid for with savings on my ATM. When I get home I won't have to worry about anything coming in the mail the next month. Get a life.

The Housing Bubble Ate my Balls. said...

1) No.
2) No. We currently live without any credit / debt. Don't need any, Don't want any. I might care in 4-5 years If we decide it's better to own then rent.

Lady Di said...

yes, 819. I have a home mortgage which is when my credit score has mattered.

On a related note, a huge class action lawsuit involving a credit rating agency (Trans Union Corp) is in the process of settling and anyone who took out a credit card or a loan from January 1, 1987 - May 28, 2008 is a member of the class.

The settlement? 6-9 months of free credit monitoring which includes info about your credit score.

Must sign up by September 24, 2008.

Go to

www.listclassaction.com to join the class and register for benefits.

Anonymous said...

car insurance rates are based in part on your credit score. Insurance companies believe (or claim to believe) that people that are late paying bills also cause accidents.

Maybe they think if you have an overdue bill you will race down to the post office to mail it, and because you are driving recklessly to get there fast, you will have an accident. Makes perfect sense to me. LOL.

Anonymous said...

For a number that everyone says is not important, everyone sure knows what "theirs" is. I especially loved this one:

...I care because its a reflection of my character and reputation that I pay my debts on time on target and in full...

Only in America would your credit score be a determinant of your character and reputation.

JaneZ

Anonymous said...

well keith. we can walk on our home loans. why can't we walk on unsecured credit card loans? oh, i forgot. we are....
ha ha ha ha

Anonymous said...

Why you should care:

Any smart landlord *WILL* do a credit check. Kind of hard to be a bitter renter if no one will rent to you.

ConfusedAboutCreditScores said...

Mine is 680 and I have no idea why it's so low. I haven't had anything negative like a late payment in years (like 4+ years) and nothing catastrophic like bankruptcy or a large unpaid debt, ever.

I don't use credit cards - I have one I am still paying off; about $1500 left to go. My car is paid off. I rent. Maybe you have to use credit to get a higher score?

It is a problem for me, because I want to move and I'm afraid my credit score will keep me from renting the house I want. In the past I have had to pay double deposits even though I have a spotless rental history, just because of my credit score. I do not understand this, honestly.

mickeyc said...

This post has brought out the liars in a big way. Sorry fellas, this is my field.
You CANNOT have a plus 800 credit score with no debt and paying off your credit cards every month.
A credit score is a profitability rating by the financial industry.
Anyone that cares about their credit knows that you MUST keep your credit cards at around one third of their available balance and not pay them off to keep your credit score high. Closing a credit card account, regardless of other considerations, will dent your score significantly. Not having a motor vehicle permanently under finance (i.e. repeatedly "trading up")is very damaging.
So yes, a high credit score does speak loudly to your character. It means you are a slave to debt.

WTF1920 said...

Debt is slavery.

Debt means you become a slave to your job. If you get fired, your life is over, you can't pay the debt, you lose everything.

But if you rent, have no debt, have the car payed off, and have 20,000 in savings etc, then getting fired is not too big of a deal.

Frank@MarketingOpus.com said...

Yes I check mine from time to time.

Two years ago I found a major inaccuracy (a huge collection account that wasn't mine) and had to sue to get it removed. I won a $7,000 judgment in the process :)

I lease my car under my business (100% tax deduction) and need credit for that. Plus, I run *all* business expenses through my Amex card (over $30k a month - never have to buy an airline ticket) and that would be taken away if the credit score dropped too low.

So I think it's stupid to just let your credit score go. You never know when you might need it - business loan, whatever.

The best way to get a crazy high credit score is to have four credit cards with zero balance. That's even more important than paying everything on time.

Refuse to buy overpriced said...

Here's my plan -
1. Use credit card for purchases, pay in full every month. This costs you nothing, and your cash sits in the bank an extra 30 days earning interest after a purchase.
2. To avoid fees, use your debit card, not your credit card, to get cash from your bank's ATM.
3. Get free credit reports from all 3 agencies every year, just to make sure they contain no false information.

Anonymous said...

mine is pretty close to the bottom, but I get about 4 credit card offers a week in the mail

Lady Di said...

Mickeye said:

"This post has brought out the liars in a big way. Sorry fellas, this is my field.
You CANNOT have a plus 800 credit score with no debt and paying off your credit cards every month.
A credit score is a profitability rating by the financial industry.
Anyone that cares about their credit knows that you MUST keep your credit cards at around one third of their available balance and not pay them off to keep your credit score high. Closing a credit card account, regardless of other considerations, will dent your score significantly. Not having a motor vehicle permanently under finance (i.e. repeatedly "trading up")is very damaging.
So yes, a high credit score does speak loudly to your character. It means you are a slave to debt."

----------------------------------

Wrong. I do have a credit score of 819, and except for a mortgage, have no debt. Anything I put on my cards are paid off in full at the end of the month.

Nice try.

Anonymous said...

I am suprised at all you sheeple.
Putting a credit number on a man is evil stuff. You folks gladly follow along and would not last two minutes in fight club.
I am suprised black leaders put up with this.......oh wait I forgot, nobody is looking out for mans welfare anymore, just in it to see what you can get.

John McCain said...

I don't care.

I don't know.

In 2007, we paid more for domestic help at our eight houses than I earned in Senate salary, so it's all good! My wife is worth $200 million, so it's not important to me. (I was a POW, you know!!)

Anonymous said...

"Mine is 680 and I have no idea why it's so low."

it's so low because you don't use credit! FICO is an I Love Debt score.

Anonymous said...

"The anonymous said.. his credit score of over 800 and has no debt is either a liar or a multi millionair plus."

Why is that so hard to believe? My credit score is over 800 and I have no debt whatsoever (true home owner, not home debtor). Have always lived below my means, financed only a house and a few used cars and payed them off. Never bought toys I could not pay cash for. I am by no means a millionaire, I just never bought into the myths of "good debt" and "debt as a tool".

Quentin Daniel said...

Keith, what a dumb@ss comment that is. Credit can be a GOOD thing. There's good debt and bad debt. ABSOLUTELY people should be aware and concerned with their credit scores. I know mine (806). On most things you're fairly informed and intelligent. But credit (and smart use of it) IS important. Get a clue and off your high horse. You ain't no Howard Stern so stop trying to be a shock-jock. I have a lot of respect for you and most of what you say and have read this blog for years. I think you must have had a few many when you wrote this comment.

Anonymous said...

The Invisible Credit Gods and their rules can suck it. No I do not care.
I am out of the game. Closed my bank account I had for 35 years and am all cash.
Eff em.

Anonymous said...

And even if you don't borrow money, a poor FICO score means higher car insurance rates, higher renter/home insurance too------
dont pay that either. eff em.

Anonymous said...

The state of California doesn't care what its credit score is, so why should you??

http://www.sacbee.com/111/story/1179385.html

Anonymous said...

740

Anonymous said...

"So yes, a high credit score does speak loudly to your character. It means you are a slave to debt."

I lease my vehicles, usually close to 0% and alawys get rates under 5%for credit cards and often 0% with 12 months to pay. My mortgage is fixed at 30 years 6.25%. I pay extra each month and have plenty of equity being in a stable area. It is not being a slave to debt to use credit wisely. My score is in the mid 700s. I am trying to get it closer to 800 before I sell my house and buy a new one in a few years.

In the real world you better care about your credit score. There has to be a way to judge worthiness. This is the system we are stuck with. Only a fool would not care about having access to cheap easy credit.

Cow_tipping said...

Dont care, I aint buying nothing on credit for the rest of my life.
I dont even roll payments month to month on the credit cards. Unless they give me 0 interest, in which case, I will do it till the date interest rates go up. In fact I have argued my balance transfer fees down to $20 on 10K in cases, transferred all the cards to it (again negotiated with them) and then paid it off at the due date.
Cool.
Cow_tipping.

BruceDickenson said...

I am not a number. I am a free Man.

Anonymous said...

Face it, you wanna buy stuff online or get a hotel room, you need a credit card.

Are you a shill or just plain stoopid? A debit card works just fine for online purchases. You DO NOT need a credit card to get a Paypal account either...

Anonymous said...

815+

Anonymous said...

My credit score?

Well let me put it this way a guy named Bennie "the brick" is looking for me.

skikansas said...

Gosh, Keith--I really hate to disagree with all of the Dave Ramsey KoolAid drinkers and idol worshippers that think a credit score is not important, but they are WRONG. Many things depend on a credit score---employment options, housing rentals and insurance rates can all be impacted by a negative FICO score. Even hospitals are starting to use their own proprietary FICO scores to determine whether or not someone will be eligible for certain medical treatments! Under these circumstances it would be stupid not to know and maintain a good FICO score.

By the way, I own a debt-free business, pay my AMEX off before it is due every month and am a home owner, not a home debtor. My Experian FICO score is 786---I checked it two weeks ago today.

bobby jones said...

"A debit card is not the same because if it gets misused, you can't call and stop payment."

it's much worse since if someone takes your cash, checks can bounce or you won't have enough to draft checks, etc... thus, I would never use a debit card.

however, I recently opened up 2 more checking accounts: 1 for online billpay and another for interbank transfers.

so, if you have a debit card, you should ask your bank for another checking account and then get a debit card which can only acccess that account and have overdraft protection turned off so folks can't indirectly access your savings account.

I started using multiple checking accounts since I didn't want paypal to have access to my primary accounts and I once overdrew my checking account with an ATM transaction since the withdrawn cash was supposed to be left there for an online billpay payment.

at this point, I just log onto my online account and then move money around based on needs and things have worked out perfectly!

mickeyc said...

Lady Di,
Try reading sweetie:
"You CANNOT have a plus 800 credit score with no debt"
Your response:
"except for a mortgage, have no debt"

If you don't see a mortgage as debt you have some issues.

Anonymous said...

Funny Story Time

Background: I have lived for years well within my means and this has allowed me to become debt free in my mid 40's. Assets owned outright are: modest country home fully furnished, two newer auto's, and a small business.

I have no credit cards, and only use a single debit card with a VISA logo on it that draws from my checking account. A few years ago I was worried about ID theft, so I had all three of my credit files frozen. HAVE NO IDEA WHAT CREDIT SCORE IS & DON'T CARE!

Now to the funny story...

A few months ago my local town bank was looking like it might be taken over by the FDIC at anytime. Due to the amount of CDs I had with them, not all of my funds were insured... so I was forced to open a new account with another local bank in town.

While sitting in the branch manager's office, I filled out paperwork to open the account.
I was wearing a t-shirt and a pair of very well worn jeans. I looked very much like just another blue collar working stiff - which is in fact what I am. That fact that I own the business, just means that I earn more and work much harder and longer.

The manager entered my info onto her computer and ran a credit check automatically on me without my consent. Due to my frozen credit records she was unable to pull a report on me and told me that there was a FRAUD ALERT ON MY CREDIT FILE and therefore she could not open a new savings account for me. I demanded to know what my credit file had to do with a savings account. She said that it was standard proceedure and they needed to know my score to determine what lines of credit I was qualified for.

I told her that she had it backwards... that her bank was the debtor with regards to my new savings account with them; and therefore it was their credit worthyness in question, not mine.

Her eyes glazed over as if she could not comprehend what I just explained to her. She then told me that I would have to contact transunion and get them to release my file before she could proceed an open a savings account for me.

I looked her square in the eyes and said, "your bank is full of itself and you are too inept for me to deal with."

I opened my wallet and removed a folded cashiers check for $83,760.31.00 [This check was the maturity amount of the CD at my main bank that I just cashed out.]

I unfolded the cashiers check and showed it to her and said, "Well I guess that my money will have to find a home that doesn't stick its nose where it doesn't belong."

The look on her face was to die for. Her jaw hit the table as her eyes popped out of her head as I exited her office in a cloud of fury!

Anonymous said...

You should always know your credit score -- not because you want to use debt, but because it's an easy way to find out if someone is committing fraud in your name.

Your name can have a credit history even if you don't.

Frank@MarketingOpus.com said...

Anyone that cares about their credit knows that you MUST keep your credit cards at around one third of their available balance and not pay them off to keep your credit score high.

This is dead wrong. The highest possible credit score comes from maintaining a ZERO balance on credit cards.

DOPE!

Anonymous said...

Frank you're wrong. Keeping it at 0% actually penalizes your score. Ideally you want a 5-10% balance which shows you use debt but your use it wisely. May not be the ideal situation for real world living, but for fico score maximization that's how you do it.

Anonymous said...

Lady di must be one of those Dave Ramsay robots who thinks a mortgage isn't debt.

Anonymous said...

I don't make much, but I rent my home, own my car, and pay off my only card in full each month. I checked FICO last month: a little over 800 average. The ppl 'in the field' who say you must maintain a balance for a high score are wrong...they are either actively deceptive, or stupid, and neither would be surprising.

Anonymous said...

Mine was 802 the last time I checked, which was two months ago. I think people who are calling posters with high FICOs liars should consider the fact that people with high FICOs will be happy to tell people their scores, whereas people with very low FICOs either don't want to post or don't read this blog. This is not a bell curve; it's a self-selected population.

Here's a good reason to keep a high FICO: if you have a security clearance, the US government will absolutely examine your credit record. Didn't used to be that way, but in 2001 when I was drowning in debt (~$600/mo in interest charges alone), I had to sit down with a man from the Defense Investigative Service and, to my great shame, go through my credit records line by line. That was a very fortunate event, because I then spent four years eating ramen and climbing out of the hole I'd dug. I worked and continue to work my f**king ass off, and I'll happily shout my FICO score to anyone who asks.

Anonymous said...

as a screwed bank share stockholder i am all for banks till they get 20 bucks printed up for every deposited dollar,.......all that competition bidding on goods takes much purchace power from my dollar deposited if it must bid for goods with 20 borrowed dollars, as such banks should fall as much as they have and take housing and businesses bought with that 20 dollars with them as this reeks of neo facism also.............we saettle for/ for a few housing profits or services at t6he bank??/

Anonymous said...

banks have been stealing the purchace power of deposited dollars for so long do you have any wonder why people are complaining about the costs of bread and butter and fuel, yet money is still deposited there...........????????????????????/ government also...............

mickeyc said...

Frank said:

"This is dead wrong. The highest possible credit score comes from maintaining a ZERO balance on credit cards."
Sorry buddy, you are an idiot. Do some research. As I said, I WORK in this field. Why your Amyway style business gives you any reason to comment is beyond me.

Anonymous said:

"I lease my vehicles, usually close to 0% and alawys get rates under 5%for credit cards and often 0% with 12 months to pay. My mortgage is fixed at 30 years 6.25%."
You do sound like a smart person but your comments typify how mainstream huge debt is now. Your leases for example, far from being 0%, have the interest cost built in to the price.

Anonymous said:

"A debit card is not the same because if it gets misused, you can't call and stop payment."
Of course you can. A fraudulent charge is a fraudulent charge. I did this as recently as last week.

Funny Story Time:

Bravo to you. If people stood up against idiocy in real life the world would definitely change. Keep up the good fight.

Anonymous said:

"I think people who are calling posters with high FICOs liars should consider the fact that people with high FICOs will be happy to tell people their scores, whereas people with very low FICOs either don't want to post or don't read this blog."

I think it's far more interesting that everyone posting their high FICO's are using the "anonymous" function to post. If you want to be taken seriously at least use a consistent name so people can see what your views are over time. The US is full of ballers with no proof of anything.

It is fascinating that this is the only post I have made that has received aggressive responses. That the post is on something that I spend my working day on is even more interesting.

VP said...

Re: Stupid banks sticking their nose into your credit history.

A friend opened a checking account at Shittybank two years ago. He did not have any credit history at the time. Later on he got credit cards and started reviewing his credit reports. There was an inquiry from Shittybank on his report from two years ago. Why???

Why does your credit have to be checked when you open a bank account?

Anonymous said...

Wow. I did not mean to come off as aggressive. I was actually nervous that people would comment on the obvious -- that I'd screwed up my finances so badly that a representative of the federal government had to slap some sense into me, with my career hanging in balance at a time when I was drowning in debt. I probably sounded a bit snippy because the entire financial world has turned upside down, and my working my pleasant backside off for the past seven years has resulted in my having an 802 FICO while still renting a one bedroom apartment, while a FedEx delivery guy I know who bought a $600K condo in 2006 against my advice could very well end up keeping that condo, with me footing the bill. Regardless, please believe me that DIS reads peoples' FICO scores; many people I know assume they only read your bank records, which are objective, but they now use FICO scores as a discriminant, and the comments in this thread clearly show that no one knows for sure how FICO scores are calculated.

What had motivated me to post in the first place was what I keep having to explain to my non-engineering managers: don't confuse data with knowledge. There's a recent thread on the Straight Dope Message Board about penis length, and quite an uproar about the numbers that men are reporting. A little unexpected, but I think there can be an explanation that's consistent with people telling the truth. But that's because I always try to start off with the assumption that people are telling the truth.

Devestment said...

Back in the day when I used credit my score was in the 850’s. About 2 years ago I decided to use only cash for all my purchases because I did not like being tracked electronically; I feel it is a violation of my privacy and a step in the wrong direction for society. It is in government’s interest to control my spending and track my movements. It takes us all one step closer to government slavery and complete dependence on incompetent and uncaring elitist kings.

Now I am truly credit worthy. I lived with parents while working and saved enough to buy a house for cash outright anywhere I would like. I use cash for all my purchases. I find that my spending is much more responsible when I use cash instead of debit/credit cards because I can see the money actually going out. I enjoy paying with exact change and getting through the line fast.

Recently I rechecked my credit and found that my score has gone down considerably due to the absence of credit history. Once again, society rewards the bad behavior of credit use, and punishes someone truly credit worthy.

robert said...

Paul E. Math said...
In practice, credit scoring has become a way of justifying exhorbitant rates of interest and fees for the most minor of credit mistakes. Credit scoring is one of the means of bondage for our modern form of slavery.


Hear! Hear!.

Say I’m a few days late on a payment, I take the hit; nay, gladly take a hit. I screwed up, missed the deadline, no excuses, I’m a looser. As they should, the credit agencies ding my credit. Fine.

Now say, one of the credit agencies screw up…..mistakenly report something on my credit report….Do they take a hit? Whom do I call and report this? Do I get credit for their mistake? To whom do I send the bill for damages?

Scam.

I have decent credit: 700+, but I don’t obsess about it. I have co-workers who watch their credit report almost weekly. When something comes up (and it always does) they are up in arms, on the phone yelling/screaming for about an hour. All told, with the high stress level plus phone time, they’ve shorted their lives by 4 hours. They’ll then brag about their 700+ credit score and how they are untouchable. Sheeple.

Scam.

The wife and I were in the market for a new car. We had a pretty good idea of what our credit score was (we ran the numbers by our bank). We found the car we loved. The dealer was running one of those low APR deals (for well qualified buyers) and we started the paperwork
About 30 minutes later the salesman comes out with a troubled look on your face and began to tell us “this looks pretty bad, there’s no way you are “well qualified”, you’re going to have to settle with a pretty high APR”

My wife and I looked at each other in shock, this was impossible, so we left the dealership embarrassed. We called our bank and they confirmed, we were impeccable.

We went to another dealer a few miles down the road, they ran our credit (again, impeccable) and we got the car and a very low APR. The first dealer was clearly trying to scam us.

Anonymous said...

Sorry, but you retards are all FOS (Full of Sh1t). There is a new method of scoring and the scale now goes up to 990. Please go out and get jobs or research better while goofing off at your 30K jobs. Also, this leads me to believe that none of you have your coveted 820+ FICO. Yea, all of the most credit worthy people are here trolling on HP. Unreal . . . you are all full of yourselves like frank the d1ckwad from snottsdale. No mas respect for HP.

Go Ron Paul.