What is up with credit scores?

Della said:
All loan officers are looking for two things; ability to pay and willingness to pay. Someone can have a good job and money in the bank and still be a real slacker about paying those bills on time.
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Demonstrating a willingness to pay was always a bit ahead of ability to pay.

Some people take financial obligations seriously and some treat them more casually.
 

Our credit scores fluctuate too. They're above 800 even when they drop, so we don’t worry about it. I have noticed that the fluctuations on my score are tied to how much I charge to my various cards even though they’re paid in full every month.
 

I pay the cards off twice a month so the utilization is low, particularly around year end when I'm buying presents, and perhaps buying gear for the upcoming camping and motorcycle riding seasons. It's probably worth +10-12 points. If one has no mortgage, car note, or rent there are limited ways to positively effect the score. Paying property tax, and income tax like clockwork doesn't seem to matter.
 
A mix of credit types (cards and installment loans; mortgage) which are timely paid is favorable to scores since it shows ability to manage diverse debt. Inactive accounts that were timely paid can positively effect credit scores, but creditors may have concerns if a borrower has had no debt for months or years since there is limited information to assess their current creditworthiness and ability to manage new credit.
 
I get offers for credit cards and new offers on my current credit cards but can one receive the offer if on a fixed income? We do not work so we might not be accepted. I was just wondering if anyone has been approved in this circumstance. We do have a high credit score.
 
Lewkat said:
Since I never use credit cards in my name, (always, dad's, hubby's or son's), I do not have a credit rating. This can be very problematic in some cases.
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And that was normal when we were all vital adults, right?

My cousin Linda and I were very close; the same age, looked a lot alike, and hung out together as often as we could. And we both married young. Her marriage lasted longer than mine, and when she finally decided to leave the mu'f'ker, I told her to pack up her 4 kids and come live with me and my 3...I could help her find work, get her own place, help her furnish it, and all that.

So she packed up her kids and all their clothes and toys and blankets, and all her stuff plus all her dishes (for some freaking reason), and on her way out of her town, she made a stop at the bank to withdraw everything from her savings account. She worked a part-time job, and deposited half her pay every week in this account that was in her name ...her name only.

You know where I'm going with this, right? Linda had accumulated over $5,000 in her savings account at that point, but there was only three-hundred and fifteen dollars and twenty-seven cents in it.

The teller told her that Mr. Linda withdrew all but $315.27 - the minimum balance plus a fifteen dollar.twenty-seven cent FU - just the day before, the day she told him she was leaving him.

But husbands could do that back then. When Linda opened that account, as required, she put the a-hole's name down as her spouse. I'm 99% certain that, even if a woman's name was on the "name of spouse" line, she could not walk into a bank and withdraw from any of her husband's accounts without him being present.

Best a wife could do is forge a check and risk becoming a felon. (and her cell-mate's spouse 😨)
 
The last time we 'tested" our credit was just a few years ago when we were buying some major appliances at Home Depot and they said if we got a charge card with them we would get 20% off. So we reluctantly said okay. It was turned down. Heh.

So, I think my life will come to its end without ever having credit. We have paid cash for everything, my son's college, all our cars and every house we've owned. There was only one time in my life when I regret not having a credit card, it was so I could have bought a plane ticket home from an uncomfortable situation. Other than that, no credit has been a win, with no bills hanging over my head, freedom to quit a job without hesitation, and a big lifetime savings by never paying a penny in finance charges.
 
Della said:
The last time we 'tested" our credit was just a few years ago when we were buying some major appliances at Home Depot and they said if we got a charge card with them we would get 20% off. So we reluctantly said okay. It was turned down. Heh.

So, I think my life will come to its end without ever having credit. We have paid cash for everything, my son's college, all our cars and every house we've owned. There was only one time in my life when I regret not having a credit card, it was so I could have bought a plane ticket home from an uncomfortable situation. Other than that, no credit has been a win, with no bills hanging over my head, freedom to quit a job without hesitation, and a big lifetime savings by never paying a penny in finance charges.
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Yeah, that's def not a bad place to be, imo.

Credit card companies and savings and loan establishments are in it for the interest and fees. That's their profit pool, and it's massive, especially for credit card companies. Your credit score might look hideous to them, but you have escaped becoming just another teet for the corporate world, and that's beautiful.
 
Della said:
The last time we 'tested" our credit was just a few years ago when we were buying some major appliances at Home Depot and they said if we got a charge card with them we would get 20% off. So we reluctantly said okay. It was turned down. Heh.

So, I think my life will come to its end without ever having credit. We have paid cash for everything, my son's college, all our cars and every house we've owned. There was only one time in my life when I regret not having a credit card, it was so I could have bought a plane ticket home from an uncomfortable situation. Other than that, no credit has been a win, with no bills hanging over my head, freedom to quit a job without hesitation, and a big lifetime savings by never paying a penny in finance charges.
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I wish I could say that. I'd rather have that ability than the best credit score in the world.
 
MACKTEXAS said:
I wish I could say that. I'd rather have that ability than the best credit score in the world.
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It's not for everyone, it just worked that way for us while we were moving around for the Air force for 22 years. I didn't want to buy my first ever house and then leave it, so we lived in cheap rental housing that cost less than the military allowance and saved the difference.

If I was starting over with a reliable husband, I wouldn't hesitate to buy a house with a 30 year mortgage if it meant my children could grow-up in a nice safe neighborhood.
 
We decided that our credit ratings were not important since we pay cash for everything now. I froze
both our files at the big three agencies to (hopefully stop) bogus new accounts against us. No use
for these crooked credit ratings agencies unless there's some unforeseen time we need credit
approval for I can't imagine what.
 

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