Comments on: Your FICO score http://www.joetaxpayer.com/your-fico-score/ Financial Commentary For The Average Joe Mon, 06 Feb 2012 21:56:17 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Eli http://www.joetaxpayer.com/your-fico-score/comment-page-1/#comment-7585 Eli Wed, 29 Jul 2009 07:36:14 +0000 http://www.joetaxpayer.com/?p=1650#comment-7585 Very informative post as it gives an in-depth discussion on credit cards and rating/score, etc. I still believe having a credit card is better than none at all, for two reasons: 1. it gives you the convenience and allows you not to carry huge amount of cash, thus preventing hold-ups and robbery, and 2. it provides "cash" when you do not have cash for emergency purchases. As to worrying about paying the credit, it is a manner of fiscal discipline and budgeting. Very informative post as it gives an in-depth discussion on credit cards and rating/score, etc. I still believe having a credit card is better than none at all, for two reasons: 1. it gives you the convenience and allows you not to carry huge amount of cash, thus preventing hold-ups and robbery, and 2. it provides “cash” when you do not have cash for emergency purchases. As to worrying about paying the credit, it is a manner of fiscal discipline and budgeting.

]]> By: JOE http://www.joetaxpayer.com/your-fico-score/comment-page-1/#comment-7582 JOE Wed, 29 Jul 2009 03:39:51 +0000 http://www.joetaxpayer.com/?p=1650#comment-7582 BoBo - I hear you. One question for the Dave students - how do you get a mortgage? And what kind of rate do you get? BoBo – I hear you. One question for the Dave students – how do you get a mortgage? And what kind of rate do you get?

]]> By: The BoBo http://www.joetaxpayer.com/your-fico-score/comment-page-1/#comment-7581 The BoBo Wed, 29 Jul 2009 03:19:24 +0000 http://www.joetaxpayer.com/?p=1650#comment-7581 Interestingly, I have no FICO score. Haven't had one in about 1 year ever since I paid off all my debt, cut up my cards, and pay everything with cash now. While I think your post is very informative, it would serve everyone better to get out of debt and not worry about FICO. If you can't pay for it, you can't afford it. You'd be surprised at how many businesses out there prefer to deal with cash customers. You can actually negotiate the price on many items when its cash. You don't get that luxury when you put it on a card or apply for store credit. I just bought a washer/dryer at Sears that had a floor price of $2,500 (we went for the HE appliances) - once I started flashing the cash - we got them for $1,800. As long as you know the art of negotiation, have cash, and no debt - you don't need to worry about credit or FICO to get what you want. BTW - I am a graduate of the Dave Ramsey Financial Peace University. He's right. You don't need credit or credit cards. Interestingly, I have no FICO score. Haven’t had one in about 1 year ever since I paid off all my debt, cut up my cards, and pay everything with cash now. While I think your post is very informative, it would serve everyone better to get out of debt and not worry about FICO. If you can’t pay for it, you can’t afford it.

You’d be surprised at how many businesses out there prefer to deal with cash customers. You can actually negotiate the price on many items when its cash. You don’t get that luxury when you put it on a card or apply for store credit. I just bought a washer/dryer at Sears that had a floor price of $2,500 (we went for the HE appliances) – once I started flashing the cash – we got them for $1,800. As long as you know the art of negotiation, have cash, and no debt – you don’t need to worry about credit or FICO to get what you want.

BTW – I am a graduate of the Dave Ramsey Financial Peace University. He’s right. You don’t need credit or credit cards.

]]> By: Augustine http://www.joetaxpayer.com/your-fico-score/comment-page-1/#comment-7562 Augustine Mon, 27 Jul 2009 15:57:29 +0000 http://www.joetaxpayer.com/?p=1650#comment-7562 Since the credit card companies are having second thoughts, we're seeing unused cards canceled and limits reduced. Such actions have the potential to affect the history and debt ratio, or 45% of the credit score. And that without one doing anything on one's part. Since the credit card companies are having second thoughts, we’re seeing unused cards canceled and limits reduced. Such actions have the potential to affect the history and debt ratio, or 45% of the credit score. And that without one doing anything on one’s part.

]]>