Comments on I Have a Great Credit ScoreTypePad2008-05-08T12:45:00ZNAhttps://www.freemoneyfinance.com/tag:typepad.com,2003:https://www.freemoneyfinance.com/2008/05/i-have-a-great/comments/atom.xml/NMB commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e20147e3d5a3ef970b2011-04-08T16:35:04Z2011-04-08T16:35:04ZNMBhttp://capstoneinstitute.comI am a new mortgage broker, and boy have I learned the benefit of having a good credit score. Luckily...<p>I am a new mortgage broker, and boy have I learned the benefit of having a good credit score. Luckily mine is pretty high as well, but I have already worked with clients who have pretty low scores. When you know just how much that number means about a person's spending and income, it really does change how you view them as a reliable lendee.</p>Garen commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e2014e86ebf666970d2011-03-23T22:25:27Z2011-03-23T22:25:27ZGarenhttp://easybadcreditrepair.com/I agree 799 is pretty much a perfect credit score, which shouldn't be any problem in terms of getting approved...<p>I agree 799 is pretty much a perfect credit score, which shouldn't be any problem in terms of getting approved for a new house. Remember that opening a new card and leaving it open with a high credit line is a good way to bump up your score even more. Never close out cards you don't use, just don't use them :)</p>FMF commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e20148c717d6f2970c2010-12-27T17:51:08Z2010-12-27T17:51:08ZFMFhttp://www.freemoneyfinance.comCEO -- I'll post your question in a couple weeks as a "Help a Reader" post and see what FMF...<p>CEO --</p>
<p>I'll post your question in a couple weeks as a "Help a Reader" post and see what FMF readers have to say. Stay tuned.</p>CEO commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e20147e1092285970b2010-12-26T23:14:29Z2010-12-26T23:14:29ZCEOI just checked my credit score and I'm a bit shocked at how low it is at 730. I have...<p>I just checked my credit score and I'm a bit shocked at how low it is at 730. I have owned and sold property in the last 5 years; all payments were made on time. I've had a car loan, again with all payments made on time. I currently have an american express card which I pay off in full each month. I've never had any negative reports on my credit. Basically I have zero debt and a very good history of paying everything on time. Why would my score be so low? Does this even make sense?</p>GS commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e20134851faddf970c2010-07-01T01:12:31Z2010-07-01T01:12:31ZGShttp://www.goodreditco.com799 is damn near a perfect score in my book. Takes a lot of work, and in this financial time...<p>799 is damn near a perfect score in my book. Takes a lot of work, and in this financial time its gotta be pretty beneficial. I'm working on improving mine now after some hiccups.</p>Marilyn commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e20115719471c9970b2009-07-01T01:20:27Z2009-07-01T01:20:27ZMarilynNO. I also have a credit score of 840. Means we pay our bills and know how and when to...<p>NO. I also have a credit score of 840. Means we pay our bills and know how and when to spend our money.</p>Dave commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e5539927db88332008-07-13T03:23:21Z2008-08-29T12:22:59ZDaveI have a credit score of 840. What percentage of the population has an 840 or higher? Could I have...<p>I have a credit score of 840. What percentage of the population has an 840 or higher? Could I have the highest score in the nation?</p>FMF commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e552191caa88332008-05-09T14:29:40Z2008-08-29T17:15:48ZFMFhttp://www.freemoneyfinance.comLC -- Upgrading.<p>LC --</p>
<p>Upgrading.</p>LC commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e552310f0288342008-05-09T14:27:44Z2008-05-09T14:27:44ZLCMy average credit score was also 799, and this was at age 26 after never having a credit card. My...<p>My average credit score was also 799, and this was at age 26 after never having a credit card.</p>
<p>My husband has had excellent credit for a long time, but I have never had a credit card, so we were worried when we went to get a mortgage about how my lack of credit history would give me a low score and "pull down" the amount that we could be approved for. But there apparently was no problem. I just can't understand why college students get credit cards with the excuse that they need to build their credit score. You can definitely build a good score without them.</p>
<p>FMF, I am curious why you still plan to get another mortgage. Why don't you take the equity in your current home to pay for it? Or are you upgrading?</p>FMF commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e55230d13b88342008-05-09T11:45:00Z2008-08-29T21:21:07ZFMFhttp://www.freemoneyfinance.comTC -- I'll post your questions on the blog in a week or so. Check back for responses.<p>TC --</p>
<p>I'll post your questions on the blog in a week or so. Check back for responses.</p>TC commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e5522ffe6888342008-05-09T00:25:34Z2008-08-30T07:38:50ZTCI am in a position of wanting to improve my credit score with very few options on how. (FWIW, I...<p>I am in a position of wanting to improve my credit score with very few options on how. (FWIW, I have a bankruptcy from 6 years ago.)</p>
<p>I have one credit card on which I charge less than 25% a month and pay it off monthly (very low limit). this bumped me 20 points immediately, but I can't see that it will help me in the future. (Only hurt, if I default, which I will not do.</p>
<p>I was thinking about doing this: taking my stimulus and putting it in savings, then going to the bank and asking for a loan secured by the savings. The loan funds then go in my high-yield savings account. Each month, I would pay at least double the monthly payment, and perhaps as much as 4 or more times the monthly payment on the loan until paid off. </p>
<p>Is this ridiculous? I am not in the market for a car at the moment, so I won't have that as another type of credit usage. I know better than to get a store credit card. I own my house, so I can't prove my credit worthiness by paying my mortgage well. </p>
<p>I just want another type of credit usage to prove that I have learned the error of my ways. Is this even worthy of consideration?</p>Brent commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e55217e83a88332008-05-08T23:32:39Z2008-08-27T12:33:11ZBrentToo bad scores over 725 (or something around that) doesn't make a difference when getting a mortgage. I have a...<p>Too bad scores over 725 (or something around that) doesn't make a difference when getting a mortgage. I have a high credit score too but was told it didnt matter if you were over a score in the lower 700's</p>Kevin commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e5522f4af588342008-05-08T18:08:17Z2008-05-08T18:08:17ZKevinI'm actually surprised you weren't over 800, FMF. Not that 799 is anything to scoff at. When we applied for...<p>I'm actually surprised you weren't over 800, FMF. Not that 799 is anything to scoff at. When we applied for our mortgage back in 2005, both the wife and I were over 800 and we both still had car payments then. Now we don't, I wonder if that impacted things at all?</p>Allen commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e55216f2a888332008-05-08T14:44:34Z2008-05-08T14:44:34ZAllenhttp://goaloffinancialfreedom.blogspot.comI also had a similar situation just recently. I wanted to refinance my mortgage since some of the rates were...<p>I also had a similar situation just recently. I wanted to refinance my mortgage since some of the rates were lower than they were when I first applied. The bank pulled my credit score and was approved in minutes. The hard part was signing all the paperworks.</p>Heidi commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e55216e69888332008-05-08T14:23:19Z2008-08-30T16:35:30ZHeidihttp://bankergirl.comCongrats on having great credit! It's a goal everyone should strive for (unless they can afford to live an 100%...<p>Congrats on having great credit! It's a goal everyone should strive for (unless they can afford to live an 100% cash-based existence). </p>
<p>"Good" credit isn't what it used to be. Our bank is only purchasing pools of HELOCs where the borrowers have a minimum FICO of 720 (our cutoff used to be 680). In this tightening credit enviroment, people with scores between 680 - 740 may see their interest rates rise as a result of the sub-prime mess. </p>Mike commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e5522ee09b88342008-05-08T14:14:28Z2008-08-29T17:05:28ZMikeI had the same situation a few months ago when I started mortgage shopping: a credit score of 795, good...<p>I had the same situation a few months ago when I started mortgage shopping: a credit score of 795, good income, no debt, and buying a home I can actually afford (22% of my monthly gross, not including my live-in girlfriend). Preapproval came in minutes and the broker was very happy to be working with such an 'easy' client.</p>
<p>Just like you said, it makes life a lot easier when you're financially stable.</p>Will commented on 'I Have a Great Credit Score'tag:typepad.com,2003:6a00d83451bcbd69e200e5522ec6a588342008-05-08T13:03:19Z2008-08-30T16:35:26ZWillhttp://yourfinishrichplan.com/blog/2008/02/29/finish-rich-on-a-shoestring/Unless you're Warren Buffett, you need a good credit score. I remember reading somewhere that his credit score isn't that...<p>Unless you're Warren Buffett, you need a good credit score. I remember reading somewhere that his credit score isn't that great (not that it's bad). But what does he care? It's not like he's on the market for a mortgage :)</p>
<p>But for us mere mortals, a good score not only makes things easier, but it also makes them cheaper : credit card rates, mortgage rates, insurance premiums... A good score can even help you get a job over a similarly qualified candidate whose score is in the dumpster...</p>