Toot your horn anyone ever actually gotten an 850??
I have paid my bills all my life on time, never late.
My FICO score is 844, WTH do you have to do or who do you have to blow to get a 850!
Just curious if anyone have ever actually made that level?
My FICO score is 844, WTH do you have to do or who do you have to blow to get a 850!
Just curious if anyone have ever actually made that level?
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I listen to Dave Ramsey a lot and I agree with most of what he says. He says that unless you have a million in assets you can't afford a new car and you need to buy a good used car. And he crunches the numbers on how much money you will spend, if you buy a new car every 3 years. It is phenomenal how much money a person loses, over several decades, if he buys a new car every 3 years. Even worse than that is a lease, Dave just despises a lease.
And Dave has a credit score of O. He says that you don't need a credit score.
And he says that the only way to get a good credit score is to pay a fortune to banks or Discover, in interest. Dave particularly hates credit cards and he does not use them. He says that a person shopping with a credit card will, day in and day out, spend a lot more than the person paying cash.
Well I have to differ with Dave on this one. Now, I haven't bought anything on credit since I bought a new pickup in 1995.
But I have a credit score of 804. I use 2 credit cards and pay them off each month. I haven't paid a dime in interest in the past 8 years.
Also I don't like to go shopping. About the only "shopping" I do is at the grocery store, and I buy what I want and pay with the Discover and leave, I usually am in a grocery store for about 11 minutes, no impulse buying for me.
I don't plan on buying anything on credit again, but, I am going to take a tour of the continent later this year with my girlfriend, and might rent a car for that. In that case the credit card would come in handy, even Dave talks about how difficult it is to rent a car if you don't have a credit card.0 -
Before I totally ditched the "borrowed money" concept, I went to a loan institution(aptly named as one would have to be crazy to borrow there) and checked out borrowing $10K for a vehicle upgrade. The loan officer asked about a credit card balance of $5K that was lowering my credit score significantly. I told her it was one of the promo low interest things and that I had the use of that money for 15 months for 3% and if the bank would loan me the $5K for 3% and the $10K for 5%, we had a deal. Her face got red and she said that was far below what they could loan me anything and I left. 0 -
Mobuck wrote:Before I totally ditched the "borrowed money" concept, I went to a loan institution(aptly named as one would have to be crazy to borrow there) and checked out borrowing $10K for a vehicle upgrade. The loan officer asked about a credit card balance of $5K that was lowering my credit score significantly. I told her it was one of the promo low interest things and that I had the use of that money for 15 months for 3% and if the bank would loan me the $5K for 3% and the $10K for 5%, we had a deal. Her face got red and she said that was far below what they could loan me anything and I left.
I had an uncle {RIP}, that was a loan shark in NYC. He charged 10% vig to people that couldn't get loans from banks.
10% and they sent HIM to jail for 5 years!!!0 -
I have no debt beyond month to month living expenses, no loans, mortgage, car payment, etc. I do use credit cards regularly for routine purchases but they are always paid off when the bill comes...always. One of my credit unions pulls my FICO score periodically (seems like quarterly) and posts it on my account page online. The score varies between the mid 840s and 850. I don't know what makes the score vary but I don't worry about it; it's just always there for me to see when I log in. I placed a credit freeze on my accounts several years ago and I don't plann on lifting them any time soon. 0 -
mnrivrat48 wrote:Spent 2 hours looking through the manual and turning my computer all directions and still haven't found my darn horn button !
Guess I have to say no .
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There you go, reload 999. Your situation is about identical to mine. You have no mortgage, no loans, no car loan. You use credit cards and pay off every month. And, like me, you froze your credit. I did that a couple years ago when Equifax had the massive data breach. I figured I might as well freeze it because I don't plan to use it.
And you are getting a credit score of 845. Mine is 804 tops and sometimes down to 795. Why the difference, I wonder?
I wouldn't know, or care about it but I get the score every month with the Discover bill.0 -
Remember mine being 860.
Got it by using my Black A.E. card and qualifying for their special client bonus of 10 extra points if their card was used to charge over $5,000 dollars a month? , maybe more, for three consecutive month
That was over 20 years ago, or so I believe. Could have been 30 points?
It's all a con anyway, the "black card" had a "sign up fee" of $10,000 and lots of benefits but being retired I've found none of them worthwhile. Where I live you get "Money for nothing and chicks are Free". As it should be.
https://www.travelandleisure.com/travel-tips/points-miles/american-express-black-card0 -
allen griggs wrote:There you go, reload 999. Your situation is about identical to mine. You have no mortgage, no loans, no car loan. You use credit cards and pay off every month. And, like me, you froze your credit. I did that a couple years ago when Equifax had the massive data breach. I figured I might as well freeze it because I don't plan to use it.
And you are getting a credit score of 845. Mine is 804 tops and sometimes down to 795. Why the difference, I wonder?
I wouldn't know, or care about it but I get the score every month with the Discover bill.
I don't know either, Allen. I've given up on trying to understand their system. I noticed it dropped a bit after I paid off my mortgage a few years ago, but it crept back up. I do have several active credit cards that I rotate into use occasionally, perhaps that helps? I'd like to get rid of some of them but I understand that canceling would hurt the score so I just keep them. I guess it's good to know the score is high, but unless you need to get credit it matters little. ...good in case of an extreme emergency, I suppose.0 -
Nope by keeping a crappy score I avoid anyone trying to steal my identity 0 -
I've been lending money to people for 30 years and have never seen an 850. Highest I've seen is in the 820's. The formula used for the lender's is different than the one's posted on credit cards. The lowest I have seen was in the high 300's.
Weird things these numbers, they are actually supposed to measure responsibility not a payment history. Hence their use for insurance rates, "random" checks at airports, etc.
The post about the young man with the large down payment is probably very true. Without a score, you don't exist in the FNMA underwriting system, although it is possible to build an alternative credit history. Insurance payments, utility bills, etc.
KC0
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