Community Chat

[Lacey1]

FYI. credit scores are used for more things than qualifying for a loan. Job applications, insurance, etc. PLUS: it's a good idea to pay attention to your credit score in case of an emergency. You need a credit card to rent a car, etc.

Yes, it's nice to live debt-free, but it's also a good idea to learn how to use debt properly. You can build a nice credit score without paying any interest, if you're careful.

[minkbunny]

Our credit score is as high as it can be and we haven't had any debt in years.

One can use money responsibly and not be in debt to others.

There will always be bills in the mail to pay, credit cards (pay them in full), utilities, medical bills, insurance premiums, etc.

we pay them the day they arrive.

[Qwackertoo]

I'm thinking my new (re-activated old Discover Card so I could take advantage of ShopDiscover rebates online) shows the credit score at the bottom of the statement each month. I'll have to look closer next month. I've only had it active again for a few short months for some recent remodeling projects.

And I did have to switch utilities just last week from the guy who was alternating semesters with my daughter for co-op in a different city . . . as this year it is her ""turn"" to have lease & utilities in her name . . . and they did do a ""credit inquiry"" and no deposit required based upon score. While not a big deal . . . I don't like having to make deposits when they aren't necessary no matter how little money of mine they keep for ""free"" for the duration of time. Just a pet peeve of mine. So hopefully when she shows up in the town/apartment tomorrow she will have hot water . . . and electricity and Internet . . . as I told them to have the ""office"" let them in for the gas . . . and haven't heard from electric or Internet providers so hoping and crossing fingers all happens as scheduled! She had to head back early for the road trip to the bowl game so I got stuck doing all the arrangements via telephone.

[NoelSeven]

On 1/3/2015 lacey1 said:

FYI. credit scores are used for more things than qualifying for a loan. Job applications, insurance, etc. PLUS: it's a good idea to pay attention to your credit score in case of an emergency. You need a credit card to rent a car, etc.

Yes, it's nice to live debt-free, but it's also a good idea to learn how to use debt properly. You can build a nice credit score without paying any interest, if you're careful.

I already know how to use a credit card, part of the reason we are debt free.

I use a credit card every month for numerous purchases, and I pay it off IN FULL every month. I use a major credit card that pays me back in cash, this year I got back just under $400.

[minkbunny]

Yes, our Discover card shows our FICO score each month.

[NoelSeven]

On 1/3/2015 minkbunny said:

Our credit score is as high as it can be and we haven't had any debt in years.

One can use money responsibly and not be in debt to others.

There will always be bills in the mail to pay, credit cards (pay them in full), utilities, medical bills, insurance premiums, etc.

we pay them the day they arrive.

Me, too

[Montana]

Debt-free for seven years. I do use credit cards but pay off the balances each month. My credit score is very high.

[NoelSeven]

On 1/3/2015 Montana said:

Debt-free for seven years. I do use credit cards but pay off the balances each month. My credit score is very high.

Another good example!

[minkbunny]

Noel, the pay a bill the day it arrives is actually a habit learned from my husband. Of course, I always paid my bills on time before I met him but he literally pays a bill the day it arrives.

Speaking of 400 bucks, I got four $100 Visa gift cards with Citi card points this year, still have two to spend

[Irshgrl31201]

On 1/3/2015 lacey1 said:

FYI. credit scores are used for more things than qualifying for a loan. Job applications, insurance, etc. PLUS: it's a good idea to pay attention to your credit score in case of an emergency. You need a credit card to rent a car, etc.

Yes, it's nice to live debt-free, but it's also a good idea to learn how to use debt properly. You can build a nice credit score without paying any interest, if you're careful.

YOu can live debt free and still have credit cards. You just pay them off monthly. I have AM EX, Visa, and Mastercard and I love my different points I get but I still pay them off at the end of each month and get the benefit of points. I can't think of one person who lives debt free whose credit score is not above the average FICO score let alone having one low enough to not get a job.

The credit companies really want Americans to be afraid almost of being debt free because they would lose billions if we did.

I was listening to DR the other night and a lady called in. She was going to buy a car with cash and the sales associate told her that she still had to have her credit run even to buy the car with cash. I mean, how ridiculous! Dave laughed for a good 5 minutes at the absurdity of it then told her to find a different car dealership. They would prefer no one buys a car with cash.