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My Credit Score is Better Than Yours (VANITY)
me | 8/21/07 | me

Posted on 08/21/2007 1:00:50 PM PDT by the_devils_advocate_666

I just went through the process of getting my wife a new (well, 2006 anyway) car. I had wanted to save enough to pay cash but my old car wasn't going to hold out quite that long. So off to the bank to secure the extra funds. In the process I found out today that my credit score was 819. The loan officer said he'd only seen one higher score. He's young, so maybe it isn't all that great, but...

What does a credit score like 819 do for me? Is there anyway I can leverage this to my advantage in the future? What's the highest possible credit score?


TOPICS: Your Opinion/Questions
KEYWORDS: 900; credit; lending; loans; money; nodebtbetter
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So who can top my 819?
1 posted on 08/21/2007 1:00:52 PM PDT by the_devils_advocate_666
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To: the_devils_advocate_666

I had it beat once, then got married....


2 posted on 08/21/2007 1:02:29 PM PDT by Abathar (Proudly catching hell for posting without reading the article since 2004)
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To: the_devils_advocate_666

Just did a mortgage. 840. Really.


3 posted on 08/21/2007 1:02:47 PM PDT by rightinthemiddle (Without the Media, the Left and Islamofacists are Nothing.)
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To: the_devils_advocate_666

Highest possible is 850.


4 posted on 08/21/2007 1:02:53 PM PDT by PBRSTREETGANG (Apparently my former party considers me an "ugly nativist".)
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To: the_devils_advocate_666

I can’t but we’re up there... my wife knows the score... she’s in charge of the accounts.


5 posted on 08/21/2007 1:03:02 PM PDT by MD_Willington_1976
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To: the_devils_advocate_666

Mine doesn’t matter because I don’t have debt.


6 posted on 08/21/2007 1:03:07 PM PDT by AppyPappy (If you aren't part of the solution, there is good money to be made prolonging the problem.)
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To: Abathar
"I had it beat once, then got married...."

Just wait 'til you get divorced.

7 posted on 08/21/2007 1:03:48 PM PDT by Joe 6-pack (Que me amat, amet et canem meum)
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To: the_devils_advocate_666

Loan me $50 and I’ll tell you mine.


8 posted on 08/21/2007 1:04:03 PM PDT by Tijeras_Slim
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To: RockinRight

I know how you love threads like this.


9 posted on 08/21/2007 1:04:59 PM PDT by Tijeras_Slim
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To: Abathar

The exact same thing happened to me. Had kids and it took another beating.


10 posted on 08/21/2007 1:05:02 PM PDT by quikdrw (Life is tough....it's even tougher if you are stupid.)
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To: Abathar

I did also but then got divorced. So I cancelled her credit cards. That helped a lot.


11 posted on 08/21/2007 1:05:41 PM PDT by RC2
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To: the_devils_advocate_666

850 is the max. Some say 900. Highest I’ve seen is an 849.

In all honesty, once you’re over 720, going any higher doesn’t make a hill of beans difference.


12 posted on 08/21/2007 1:06:32 PM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: the_devils_advocate_666

What can it do for you? Gimme your SSN and birthdates and I’ll file a full report on what it can do for you.

/sarc


13 posted on 08/21/2007 1:08:30 PM PDT by driftdiver
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To: the_devils_advocate_666

819.9999999999999999


14 posted on 08/21/2007 1:08:54 PM PDT by boomop1 (there you go again)
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To: the_devils_advocate_666
So off to the bank to secure the extra funds.

You were better off going to a credit union, where the average 48 month new auto loan is 6.22% APR vs. the banks at 7.57% APR (source).

Some credit unions (example) have new car loan rates as low as 3.50% APR for 36 months.

A near-perfect credit score is irrelevant if you can't find the lowest rate lenders to match.

15 posted on 08/21/2007 1:09:19 PM PDT by rabscuttle385 (Sic Semper Tyrannis * U.Va. Engineering '09 * Friends Don't Let Friends Vote Democrat * Fred in 2008)
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To: AppyPappy
Mine doesn’t matter because I don’t have debt.

Until this car loan the only debt I had was our house. But my plan will be to have the car paid off by the end of the year. Use the credit cards because I like the cash back but always pay off the balances every month. I dream of the day I can pay off the house...

16 posted on 08/21/2007 1:09:25 PM PDT by the_devils_advocate_666
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To: Joe 6-pack

I had excellent credit.....then I got divorced. One month before my youngest child turned 18, the ex took me to court to have child support increased. I thought I was home free. She got the child support increased and made retroactive for five years. They then said I was in arrears and it went on my credit report, in effect calling me a deadbeat dad.

AIEEEEEEEEEEEEEEEEEEEEE......I paid up, but it took me 8 years to get that freaking thing off my credit report.
\
NEVER, EVER trust your ex wife to not screw with you.


17 posted on 08/21/2007 1:09:28 PM PDT by jsh3180
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To: the_devils_advocate_666

Over 800... ahhhh, yes, very good.
My Nigerian uncle is looking for someone just like you. You see, he has $10 million, and needs to transfer it....


18 posted on 08/21/2007 1:09:48 PM PDT by brownsfan (America has "jumped the shark")
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To: the_devils_advocate_666

You will now get x4 the number of credit card offers monthly.


19 posted on 08/21/2007 1:10:08 PM PDT by TASMANIANRED (Taz Struck By Lightning Faces Battery Charge)
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To: the_devils_advocate_666

The ability to borrow money can be a great tool but it’s not a great financial move in general. Live below your means. That’s the only way to get rich.


20 posted on 08/21/2007 1:10:13 PM PDT by Jaysun (It's outlandishly inappropriate to suggest that I'm wrong.)
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To: RockinRight
In all honesty, once you’re over 720, going any higher doesn’t make a hill of beans difference.

That's about what I figured.

21 posted on 08/21/2007 1:10:58 PM PDT by the_devils_advocate_666
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To: the_devils_advocate_666

gee.....the humble don’t have as far to fall as the vain.


22 posted on 08/21/2007 1:11:08 PM PDT by applpie
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To: the_devils_advocate_666

gee.....the humble don’t have as far to fall as the vain.


23 posted on 08/21/2007 1:11:10 PM PDT by applpie
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To: Jaysun

Yes, but you want to be in a position to do so when you need to.


24 posted on 08/21/2007 1:11:19 PM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: the_devils_advocate_666

Mine is 11.


25 posted on 08/21/2007 1:12:07 PM PDT by ClearCase_guy (The broken wall, the burning roof and tower. And Agammemnon dead.)
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To: the_devils_advocate_666
Every time your credit is checked, even if you check it yourself, your point rating will drop...go figure.
26 posted on 08/21/2007 1:12:27 PM PDT by Ocracoke (Now, quit playing patticake; let's go out and kill some terrorists!)
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To: RockinRight

I canceled all my credit cards two years ago, and am currently in a lot of debt, so my credit is probably awful.


27 posted on 08/21/2007 1:12:34 PM PDT by darkangel82 (Socialism is NOT an American value.)
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To: rabscuttle385

better way would be to hit dealer incentives. jeep is offering 0% financing.


28 posted on 08/21/2007 1:13:14 PM PDT by absolootezer0 (stop repeat offenders- don't re-elect them!)
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To: rabscuttle385

Agreed, I need to get involved with a credit union. I did get 6.7% and didn’t worry too much because I plan to have the loan paid off in a matter of months, not years.


29 posted on 08/21/2007 1:13:31 PM PDT by the_devils_advocate_666
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To: Joe 6-pack

Fortunatly that will never happen...</fingers crossed>


30 posted on 08/21/2007 1:13:38 PM PDT by Abathar (Proudly catching hell for posting without reading the article since 2004)
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To: the_devils_advocate_666

Learn to invest in real estate (not the stupid way) and you can turn your good credit score into cash in your pocket.


31 posted on 08/21/2007 1:14:17 PM PDT by MrB (You can't reason people out of a position that they didn't use reason to get into in the first place)
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To: the_devils_advocate_666
Now that you have taken out a loan it will go steadily down. The credit card companies will buy your loan info and run credit checks to give you unsolicited credit. Each time they run a query against you it lowers your credit rating.

Bizarre I know.....

32 posted on 08/21/2007 1:14:30 PM PDT by Ben Mugged (Thanks Mom for not considering me a "choice".)
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To: AppyPappy

The best credit score is enough money in the bank to buy what you want and need without credit. It is better to be able to borrow a million or to have a million?


33 posted on 08/21/2007 1:15:11 PM PDT by Hydroshock ("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
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To: Abathar

yep, that happens when finances are mixed in with a spouse who doesn’t handle money the same way as you do.

Does anyone remember that the credit bureaus at one time kept the formula for calculating credit scores secret? They didn’t want people to know what to do to manipulate their scores.


34 posted on 08/21/2007 1:15:22 PM PDT by Dilbert San Diego
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To: ClearCase_guy

Lol! Is that pages? ;-)


35 posted on 08/21/2007 1:15:57 PM PDT by Normal4me
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To: jsh3180

How can child support, on an almost 18 yr old, be retroactive? You must have had a terrible attorney


36 posted on 08/21/2007 1:16:18 PM PDT by queenkathy (The shampoo promised me extra body and I gained 3 pounds)
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To: RockinRight

glad to hear that. Ours is only 789. :-( probably because I’m a lawyer and self employed.


37 posted on 08/21/2007 1:16:41 PM PDT by Mercat (strategic deworming. Name of a new rock band?)
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To: darkangel82

Are you paying them all on time every month, even if only making minimums?

If so it’s probably not great, but not as bad as you think. However, it’s worse for cancelling the cards than just paying them off and leaving them open.


38 posted on 08/21/2007 1:16:59 PM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: the_devils_advocate_666

Show-off :P


39 posted on 08/21/2007 1:17:09 PM PDT by reagan_fanatic (Ron Paul put the cuckoo in my Cocoa Puffs)
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To: the_devils_advocate_666

You may have a good credit score-but I have an unbeatable defense against identity theft.

After my Divorce-my credits so crappy, no one would want my identity :)


40 posted on 08/21/2007 1:17:32 PM PDT by 5Madman2 (There is no such thing as an experienced suicide bomber)
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To: Ocracoke
Every time your credit is checked, even if you check it yourself, your point rating will drop...go figure.

Wrong!

Every hard inquiry on your credit file briefly lowers your score. "Hard inquiry" occur when you apply for a credit card, car loan, mortgage, etc. They can also happen when you apply to rent an apartment or open an insurance policy.

Soft inquiries have no impact on your score. "Soft inquiries" include promotional inquiries (those credit card and insurance offers you receive in the mail), ongoing inquiries by your credit card issuer (periodically checking up on you), and all the times that you examine your own credit report.

41 posted on 08/21/2007 1:17:40 PM PDT by rabscuttle385 (Sic Semper Tyrannis * U.Va. Engineering '09 * Friends Don't Let Friends Vote Democrat * Fred in 2008)
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To: Mercat

Your employment status has nothing directly to do with it.

Only in the sense of your ability to pay your debts...but the scoring matrix knows nothing about your income or employment status.


42 posted on 08/21/2007 1:18:04 PM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: the_devils_advocate_666

Congrats to all! Enjoy the junk mail.

Especially Crapital One... They’re the worst.


43 posted on 08/21/2007 1:18:17 PM PDT by rock_lobsta (Doing my part to warm up the planet... Because Bikinis Beat Burkas!)
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To: the_devils_advocate_666
819 is phenomenal.

Why didn't you pull a home equity loan against your house to get an even lower rate?

Just curious.

44 posted on 08/21/2007 1:18:29 PM PDT by OrthodoxPresbyterian (Please Ping or FReepMail me to be added to the Great Ron Paul Ping List)
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To: Ocracoke

Temporarily, and not much unless you have 10-15 pulls in a short period of time.


45 posted on 08/21/2007 1:18:41 PM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: the_devils_advocate_666

How do I find out MY credit score?............


46 posted on 08/21/2007 1:18:42 PM PDT by Red Badger (ALL that CARBON in ALL that oil & coal was once in the atmospere. We're just putting it back!)
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To: AppyPappy

amen. I was thinking how silly it is to finance a vehicle anyways.


47 posted on 08/21/2007 1:18:54 PM PDT by Reagan79 (Ralph Stanley & The Clinch Mountain Boys)
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To: the_devils_advocate_666

http://freecreditnumber.ytmnd.com/


48 posted on 08/21/2007 1:19:00 PM PDT by Sax
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To: RockinRight

I’m really glad that you explained that. Thank you!


49 posted on 08/21/2007 1:19:19 PM PDT by twigs
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To: Red Badger

www.myfico.com is the most accurate source. Cost you $45 to get all three credit bureaus. You can get “free” ones else where, but they show “fake” FICO scores and not the ones that a bank or lender actually uses.


50 posted on 08/21/2007 1:19:28 PM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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