Do you know your credit score? or I love debt sco

[TeamCaffee]

I was reading the article by Jeff and being reminded the whole time that a FICO score is an I love debt score. It is to bad that in order to have a good credit score you have to be in debt. If you have no debt and stay that way you have a terrible or no FICO score, which usually means you have money in the bank to pay cash for what you want. For us a terrible FICO score means no debt, which is where we want to stay.

 

[Tennesseahawk]

RE: Do you know your credit score? or I love debt

I've decided to lease the truck I'm driving to boost up my credit score. My score isn't all that bad, tho I have a bankruptcy hovering from 6 years ago. I was told my problem was that I didn't have any big ticket items in my history... just paying off credit cards. Apparently consistancy isn't enough. We have to purchase big items... cars, houses, trucks, etc. in order to have good enough credit. This isn't a truck I'd normally buy, but the fact that it'll be paid off in a couple years, and the boost it'll give my score, that's enough for me to take the dive. Too bad my government isn't held to the same demand.

"If I claim to be a wise man, it surely means that I don't know." - Kansas

 

[bryan]

RE: Do you know your credit score? or I love debt

Hi

Personally I wouldn't incure any new debt.The new bankruptcy laws are horrible.And they affect more than just bankruptcy.If you are late paying any credit card all your other credit cards can increase your interest rate.31% interest seems to be the average.Organized crime?

I can only hope that the feds wake up soon and quit letting the corporate lawyers write legislation.Having to incur large debt to increase your credit score is ridiculous.I know that is the way it works but it still don't make it right.

 

[iheartfaye]

RE: Do you know your credit score? or I love debt

Sounds like TeamCaffee has been listening to Dave Ramsey!

 

[TeamCaffee]

RE: Do you know your credit score? or I love debt

You must also!! I think he has a rather large following and getting larger everyday.

 

[pelicn]

RE: Do you know your credit score? or I love debt

Oooh, I love Dave Ramsey! Since I drive most nights, I get to listen to him on XM 171. Total Money Makeover is a great book!

 

[TeamCaffee]

RE: Do you know your credit score? or I love debt

Pelicn

I also drive nights so I listen from 3:00 to 6:00 on XM 171 and Bob listens in the afternoon from 3:00 to 7:00 on XM 165. Reminds me over and over why we do not have debt!

 

[pelicn]

RE: Do you know your credit score? or I love debt

Linda,

My better half listens Dave Demo, Old Time Radio or news when he's driving, but the other morning when it was his turn to drive he said..."You just had to listen to Dave didn't ya, I couldn't go to sleep because I kept listening too"! Haha