I was wondering today what would a 750 to 850 credit score be worth in the next few years? Someone told me it would be worth the same as gold because everyone is trashing there credit right now. Any thoughts? or insight?
Well our credit is being trashed by the cartel of hoodlums and thugs called chase,boa,etc.It will mean lower rates when you get loans.
At my age (66) I'm not buying another house, nor car unless (knock-knock) this one gets wrecked. I can find everything I need at thrift shops--except groceries and toiletries. I have next to nothing (like big goose egg) in savings, and live month-to-month on SS and small pension. My credit was pristine till I missed a payment, then 2, then the interest, late fees, and penalties piled on. Now I simply don't care.
BTW, gold and silver ain't what they used to be either...i.e, not so "precious" as to be compared with good credit score. Used to be when the market went down, precious metals went up, but lately the market seems to have no effect on what they do. I'm not an owner...just an interested bystander.
Hey guys, if you could stay on topic and keep your rants for another post that would be great i'm just interested on talking about this topic, "good credit" not eveyones stories about being screwed by all the CC companies. "Good as gold" is a figure of speech, by the way... Hope everyone is having a good day.
The way the cc are going nobody is going to have a 800.Having good credit opens many doors,employment,decent loans,without the good scores it can cost you thousands of dollars in interest.So that is why now is the time to rein in your spending boost that score.Lower your ratio of debt.If you start now you achieve your goals.but you have to make every effort to pay on time,one mistake could cost you.With the proper moves.Lucas it all ties into the cc companies one mistake on one all the others raise their rates which isn't fair so it isn't fair.Its not my rant because from the president on done they realize theirs a problem.However good as gold is going to be the case in 3 years,with credit.
If you want to get the best terms and conditions on any type of loan, a credit score above 750 is a must now. Depending upon how much you would save in interest and upfront fees over the life of the loan, it could be worth a sizable amount of gold .
