Community Chat

[They CallMe MRWILKES]

You definitely get "penalized" for having only one type of credit.

Right now I have no need for a student loan, car loan or mortgage. 

So having only basic credit cards prevents me from climbing to Mount 850!

[pdlinda]

@They CallMe MRWILKES   I'm in your club.  I will never get to 850 because I only have one type of credit (revolving) that I pay off every month.

[AuntG]

Can you ask a bank employee to check your FICO score? I have no idea of what ours is, but I'd be curious. We haven't taken out a loan in a long time, and that's the only time I was provided with the number.

[Luvitorleaveit1]

Thanks @Lakelife62. l guess if I do upgrade my car it's helpful, I didn't think of that and other things needed as we age.

@AuntG  - if you have an online account most financial institutions provide your FICO score, mine does.

[gidgetgh]

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@AuntG wrote:

Can you ask a bank employee to check your FICO score? I have no idea of what ours is, but I'd be curious. We haven't taken out a loan in a long time, and that's the only time I was provided with the number.

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@AuntG - no, they shouldn't be able to release that information. I worked in commercial finance for 38 years. We never disclosed any of that to our clients. 

[San Antonio Gal]

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@Luvitorleaveit1 wrote:

Thanks @Lakelife62. l guess if I do upgrade my car it's helpful, I didn't think of that and other things needed as we age.

@AuntG  - if you have an online account most financial institutions provide your FICO score, mine does.

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@AuntG  -  I echo what @Luvitorleaveit1 says about your bank providing it to you.  Look on your bank statement.  It's probably provide there to you.  My bank provides it to their customers.

[San Antonio Gal]

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@wagirl wrote:

I think---your score will go up again--FICO is weird. Mine is in the high 800s but I have no long term debt, like a house or car so I get dinged for that alot. Hurray for paying off your truck tho!! Major accomplishment!!!

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@wagirl  -  How did you get in the upper 800's.  I thought the highest FICO score was 850.

[gidgetgh]

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@San Antonio Gal wrote:

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@wagirl wrote:

I think---your score will go up again--FICO is weird. Mine is in the high 800s but I have no long term debt, like a house or car so I get dinged for that alot. Hurray for paying off your truck tho!! Major accomplishment!!!

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@wagirl  -  How did you get in the upper 800's.  I thought the highest FICO score was 850.

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@San Antonio Gal - yeah, I responded to her earlier. 

[rockygems123]

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@gidgetgh wrote:

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@AuntG wrote:

Can you ask a bank employee to check your FICO score? I have no idea of what ours is, but I'd be curious. We haven't taken out a loan in a long time, and that's the only time I was provided with the number.

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@AuntG - no, they shouldn't be able to release that information. I worked in commercial finance for 38 years. We never disclosed any of that to our clients. 

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@gidgetgh 

My bank & American Express notify me once a month of my FICO score.

[shoesnbags]

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@Lakelife62 wrote:

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@Luvitorleaveit1 wrote:

Paid off my car back in December.  My score is still very good even though my credit card usage is up but I will be paying them off before the end of 2026.  No mortgage either.  

Question though what is the benefit of a 800-850 Fico score for older retired adults.  I can see for younger adults that are making those first time large purchases.

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Homeowners inurance, any type of revolving payment plan you might wan to establish with local vendors, utility services, mobile phone plans, apartment rentals, any kind of lease....many things you will continue to need into old age are priced/denied/approved based on your credit score

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@Lakelife62  Just curious - how does your credit score affect utility services?