Quote:
Originally Posted by dreamingat30fps
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?
|
Honestly not much and like you said, it doesn't matter much if you don't plan on making a large purchase or have jobs that don't require a credit check.
It doesn't take long to bounce back credit wise so long as you're responsible for a year or so. Exception is something big like a bankruptcy.