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Post by treetom on May 8, 2024 17:16:33 GMT -5
My wife was at a Mazda dealership with her dad and son because her dad was buying the 20 yr old a basic model new Mazda. Even though my FIL was paying in full with his personal check the dealership had to get his personal info and run a credit check. As they had to wait for a couple hours for the car "prep" and the paper work they sat there. An hour or so later an older dealership executive came out of the back and introduced himself as the finance dept. head. He went on to say that he had worked there 30+ years and had never seen a perfect score of 900. He said he's had a couple of 875s and one 885 but never had seen a 900 and he wanted to meet the customer. My wife has a great score in the high 700s so she learned from him. My dad had a great score but I didn't listen apparently. Mine was very good until my real estate investment went south a few years ago.  |
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Post by Mango Man on May 8, 2024 17:37:02 GMT -5
The top credit score is 850.
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Post by johnnybandit on May 8, 2024 18:00:36 GMT -5
I thought 850 was perfect....
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Post by bswiv on May 8, 2024 18:05:07 GMT -5
One of life's goals is to be in a situation where your credit score does not matter........
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Post by johnnybandit on May 8, 2024 18:17:10 GMT -5
One of life's goals is to be in a situation where your credit score does not matter........ Always good to keep your credit score up.... Whether you think you will ever need it or not.... |
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Post by cadman on May 8, 2024 18:25:45 GMT -5
I thought 850 was perfect.... I did too, but FICA auto uses a 900 scale FICO® Auto Score 10: Launched in 2020, this version of the FICO® Score model is specially designed to gauge the likelihood a borrower will repay an auto loan. It offers refined assessments of new credit users, who make up a large portion of the first-time car buyer segment. In contrast to the standard FICO® Score 10, which assigns scores on a scale of 300 to 850, Auto Score 10 uses a scale range of 250 to 900. www.experian.com/blogs/ask-experian/fico-score-versions/ |
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Post by bswiv on May 8, 2024 18:31:10 GMT -5
One of life's goals is to be in a situation where your credit score does not matter........ Always good to keep your credit score up.... Whether you think you will ever need it or not.... So long as one does not make the mistake of taking loans and paying interest when one does not have to as a way of keeping the score up. It's a shabby game the lenders have us playing and if we play by their rules we are not usually winning. |
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Post by Crkr 23 on May 8, 2024 18:42:37 GMT -5
One of life's goals is to be in a situation where your credit score does not matter........ For me, it is a great place to be. I don't have a clue as to what my credit score is. I got out of debt about 10 yrs ago and will never go in that rabbit hole again. If I can't pay for it, I don't need it. |
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Post by 4ward on May 8, 2024 18:51:02 GMT -5
I don’t like the game either.
My score has been north of 775/800 for over 30 years. I don’t do stupid shit , it just happened.
I understand the Ins/outs, I don’t dwell on it.
I have had many finance guys come out to meet me too, enabling me to negotiate just a bit more.👍
Like I said, it just happened… worked in my favor so far.
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Post by 4ward on May 8, 2024 18:57:03 GMT -5
And don’t lecture me about dept, I know it sucks.
I’m almost out of dept, I’m broke as hell but getting closer😉
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Post by johnnybandit on May 8, 2024 19:09:47 GMT -5
Always good to keep your credit score up.... Whether you think you will ever need it or not.... So long as one does not make the mistake of taking loans and paying interest when one does not have to as a way of keeping the score up. It's a shabby game the lenders have us playing and if we play by their rules we are not usually winning. But you can use it to your advantage..... Often times when a real opportunity to make a LOT of money, it comes FAST... and often comes faster than a person can raise the cash out of their portfolio... It is seldom easy... for even wealthy people to raise 250k to 500k cash in a week a week or less. to take advantage of a deal that will return that several times over. But with a good credit score, sufficient assets and good banking relationships.... It can happen overnight..... If you have the assets it will probably happen anyway.... But it may take long enough that you miss the deal... A great credit score and banking relationships will make it happen QUICK!!!!
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Post by bswiv on May 8, 2024 19:41:31 GMT -5
So long as one does not make the mistake of taking loans and paying interest when one does not have to as a way of keeping the score up. It's a shabby game the lenders have us playing and if we play by their rules we are not usually winning. But you can use it to your advantage..... Often times when a real opportunity to make a LOT of money, it comes FAST... and often comes faster than a person can raise the cash out of their portfolio... It is seldom easy... for even wealthy people to raise 250k to 500k cash in a week a week or less. to take advantage of a deal that will return that several times over. But with a good credit score, sufficient assets and good banking relationships.... It can happen overnight..... If you have the assets it will probably happen anyway.... But it may take long enough that you miss the deal... A great credit score and banking relationships will make it happen QUICK!!!!
What you said there could have been written by my father......he of long immersion in the banking industry....and you.....and he.....are/were correct....... But.....the downside is that that is exactly how you can lose it all...... For me & Louann.....we take the turtle approach.....so far so good....... |
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Post by johnnybandit on May 8, 2024 19:55:39 GMT -5
But you can use it to your advantage..... Often times when a real opportunity to make a LOT of money, it comes FAST... and often comes faster than a person can raise the cash out of their portfolio... It is seldom easy... for even wealthy people to raise 250k to 500k cash in a week a week or less. to take advantage of a deal that will return that several times over. But with a good credit score, sufficient assets and good banking relationships.... It can happen overnight..... If you have the assets it will probably happen anyway.... But it may take long enough that you miss the deal... A great credit score and banking relationships will make it happen QUICK!!!!
What you said there could have been written by my father......he of long immersion in the banking industry....and you.....and he.....are/were correct....... But.....the downside is that that is exactly how you can lose it all...... For me & Louann.....we take the turtle approach.....so far so good....... |
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Post by johnnybandit on May 8, 2024 20:05:08 GMT -5
What you said there could have been written by my father......he of long immersion in the banking industry....and you.....and he.....are/were correct....... But.....the downside is that that is exactly how you can lose it all...... For me & Louann.....we take the turtle approach.....so far so good.......
Well yes... you can lose it all.... But some people are foolish.... Every big and quick gain I have made.... Has been by leveraging my credit, my assets, my banking relationships and sometimes just my word to private investors.... And yes I have lost.... But I have won MORE.... And when I have. it has been quick..
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Post by jmarkb on May 8, 2024 22:44:48 GMT -5
Always good to keep your credit score up.... Whether you think you will ever need it or not.... So long as one does not make the mistake of taking loans and paying interest when one does not have to as a way of keeping the score up. It's a shabby game the lenders have us playing and if we play by their rules we are not usually winning. This^ one of my scores is zero. The other two are in the 770-780-range. The one that's zero is because it's been years since I bought anything with a credit card. The folks at the one that is zero quickly "recommended" some credit cards and loans that they could set me up with to build my credit back. I told them to pound sand. |
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