Quote:
Originally Posted by Alfisti
It is remarkable to see how hard Americans work at getting and maintaining a credit rating. It's kind of unheard of here or back home (Australia).
It's a bit odd doing business in the US too, vendors want a credit card or up front payment and i'm like, what planet are you on buddy, it's 60 days.
Weird.
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I have never paid much attention to my credit score. For example if I don't use a credit card, I close it, I don't concern myself with half the stuff mentioned in this thread like ratio of credit extended vs credit used etc etc. Only thing I do is pay my cards off in full at the end of the month (usually multiple times per month for the business).
My score was close to 800 and then I did a short sale. That dropped it to like high 500s low 600s I think. Anyways that was like 3 years ago and its back up to like mid 700s already. So honestly apart from common sense stuff like not having late payments or accounts in collection, I'm personally not convinced all the other stuff matters all that much.
Additionally I'm sure theres a point of diminishing returns with your score anyways. Back when I was younger and still financed cars and stuff I always qualified for whatever promo rate was being offered. 0%, 0.9% all that stuff the car dealers always offer. My credit score at the time was probably 700ish so lets just say 700 was the cut off to qualify for the primo rates (pulling number out my ass) what would be the benefit of having an 800+ score?