Credit Rating

[bapace]

How does your credit look? I am 24, almost 25, and I am at 817, pretty damn good I think. I have no debt currently, other than a car loan. If you feel like replying, please indicate your age as well.

-bapace

EDIT:Good information on how a credit score is calculated by the Big 3.

 

[Jassi]

Is there a way I can check my score for free? I don't know mine.

 

[bapace]

I paid $5.95 through transunion to check mine....definitely worth the 6 bucks to find out where you stand.

 

[EvilYoda]

780 last time I checked, that was when I was 22, now 23.

 

[dxkj]

Originally posted by: bapace
How does your credit look? I am 24, almost 25, and I am at 817, pretty damn good I think. I have no debt currently, other than a car loan. If you feel like replying, please indicate your age as well.

-bapace

Yay, you managed not to fvck things up like most teenagers/young adults, go grab yourself a cookie!

Do you use your CC regularly and just pay them off... thats how most people get a good score.... at least if they can pay them off

 

[CrackRabbit]

I'm pretty sure mine is somewhere in the negative regions.

 

[bapace]

Yeah, I have 3 credit cards, paid in full every month with my own hard earned money. Car is in my name, all that jazz.

 

[FoBoT]

my score is eleventy billion mega credit points and i am 3 years old

 

[HardcoreRobot]

780 @ 23

 

[dxkj]

Originally posted by: bapace
Yeah, I have 3 credit cards, paid in full every month with my own hard earned money. Car is in my name, all that jazz.

Just got a mortgage so we will see how that affects it, up even more Im hoping

 

[Suspicious-Teach8788]

Originally posted by: dxkj

Originally posted by: bapace
How does your credit look? I am 24, almost 25, and I am at 817, pretty damn good I think. I have no debt currently, other than a car loan. If you feel like replying, please indicate your age as well.

-bapace

Yay, you managed not to fvck things up like most teenagers/young adults, go grab yourself a cookie!

Do you use your CC regularly and just pay them off... thats how most people get a good score.... at least if they can pay them off

690. Only 18 with 4 credit cards. No debt, then again my parents pay for it all cuz they charge half their crap on my CC. I get instant 10k limit approvals though .

 

[bapace]

Originally posted by: dxkj
Just got a mortgage so we will see how that affects it, up even more Im hoping

That's why I paid to check mine, I'm getting pre-qualified for a house and looking to purchase/build soon.

 

[Chaotic42]

798/850

 

[KarenMarie]

740


when i moved from TN to NJ... i let a family member take over my apartment. they went for three months without paying the gas or electric or water or cable teevee bills... then split. it took them a while to catch up to me, and it all went on my credit report. i had no idea this happened and was devistated.

I paid it all as soon as they sent me collection letters but it still is on my credit report as satisfied.

 

[CraigRT]

I've never heard of these numbers before... must be a US thing

 

[shortylickens]

I got a 750 but that was on the 850 scale.

Maybe that company was full of BS?!?

Anywho, I think its pretty good since I've never had any kind of loan and only one credit card.

 

[MagicConch]

740-750 is not bad. A Lexus salesperson told me most of the people who come in there to get a lease or something on a Lexus have about 750 credit score.

 

[csyberblue]

Originally posted by: Jassi
Is there a way I can check my score for free? I don't know mine.

I'd like to know this as well

 

[Auryg]

Hmm..apparently I don't have a credit file as I'm 17, and yet my credit card company says that I've been gaining credit through my credit cards.

I'm confused.

Edit: And you can get your free credit report here..https://www.annualcreditreport.com/cra/index.jsp

 

[iamwiz82]

My credit is under 700, but I have a house, two cars, and student loans. I'd prefer to be in my situation that to have an 800 score and nothing to show for it, though.

 

[Golgatha]

Originally posted by: MagicConch
740-750 is not bad. A Lexus salesperson told me most of the people who come in there to get a lease or something on a Lexus have about 750 credit score.

Just a slight tangent I think that's worth mentioning here, as I just finished reading "The Millionaire Next Door". A good credit score just means that you're responsible in the respect that you repay your debts. A truly wealthy individual would most likely not purchase a luxury sedan in the first place. Even less likely would be a new car purchase and almost no truly wealthy individuals have ever leased a vehicle.

 

[Sensor]

Originally posted by: Jassi
Is there a way I can check my score for free? I don't know mine.

To the few of you who have it, Providian gives you your credit score for free when you check your credit card account online. Kudos to them. Oh, and a credit score isn't the same as a credit report.

I'm ~650. $25k in credit card debt, $25k in student loans, 24 years old.

 

[markgm]

Originally posted by: Sensor

Originally posted by: Jassi
Is there a way I can check my score for free? I don't know mine.

To the few of you who have it, Providian gives you your credit score for free when you check your credit card account online. Kudos to them. Oh, and a credit score isn't the same as a credit report.

I'm ~650. $25k in credit card debt, $25k in student loans, 24 years old.

Also, technically what you mean by credit score is really your FICO score.

750@24.

 

[Aves]

I got all 3 from MyFICO and they are all in the 751-800 range.

 

[MagicConch]

Originally posted by: Golgatha

Originally posted by: MagicConch
740-750 is not bad. A Lexus salesperson told me most of the people who come in there to get a lease or something on a Lexus have about 750 credit score.

Just a slight tangent I think that's worth mentioning here, as I just finished reading "The Millionaire Next Door". A good credit score just means that you're responsible in the respect that you repay your debts. A truly wealthy individual would most likely not purchase a luxury sedan in the first place. Even less likely would be a new car purchase and almost no truly wealthy individuals have ever leased a vehicle.

A good credit score is not simply repaying your debts, it also has to do how much credit you have currently extended (ie total value of your credit cards, mortgage). It is the mistaken assumption that the higher your credit score, the better candidate you are for a loan (there are other factors). Second, it depends on what you consider a truly wealthy individual (I consider a net worth of 8+ million wealthy, I know some people consider $100+ million wealthy). Not all wealthy people want to pour all their money in Ferrarris and prefer to get a luxury car. A lot of them see the sheer BS involved in ultraluxury cars and would rather just have low stress luxury cars like a Lexus. As far as leasing, I assume you are talking about tax efficiency. There are +'s and -'s of owning vs leasing in taxation. There is a bigger issue you are missing here though. The simple truth is that if the capital can make more money elsewhere (not everyone can't beat interest rates + small corporate tax savings for buy vs. lease), it really makes no sense at all putting the money in the car. Then there are other issues, prorating of sales tax over the life of a vehicle vs paying it all at once with the purchase, the much easier tax management of leases as write offs, etc. Don't assume what wealthy people will do because of a book you read. I admit I have no clue how $100+ million wealthy people live or what cars they buy, but I know for a fact that there are plenty 15-20 million dollar worth people out here who would only buy a BMW, Mercedes, Lexus, etc and nothing more or nothing less.