Comments on: Financial Highway To A Good Credit Card

By: what is a good credit score

what is a good credit score — Tue, 17 Nov 2009 01:36:56 +0000

I was just thinking about my credit score today. My employer, a large defense contractor, sends me overseas for 4 – 5 months out of the year and my expenses are near nonexistent while deployed. During my last deployment one of my two credit cards was canceled from lack of use over the years leaving me with my 12 year old Discover card and a bank debit Visa card. My Fico score dropped from 760 to 720, somewhat upsetting since I plan to purchase a home soon and want that best rate as outlined in the article.

By: Credit Card Chaser

Credit Card Chaser — Tue, 13 Oct 2009 01:57:36 +0000

@ Kyle

Yes, you are right in that it is certainly possible to “survive without a credit history” and it is not unforeseeable that you were able to get a car loan with credit history.

However, you likely received a much higher interest rate and ended up paying much much more in interest charges over the life of the loan then if you had an established credit history and a good credit score.

Using credit cards responsibly is a great way to increase ones credit score and then in turn not only qualify for a loan but also pay much much less in interest charges over the life of a loan (i.e. we are talking tens of thousands of dollars less over the life of a mortgage).

By: Will @ Cheap Date Ideas!

Will @ Cheap Date Ideas! — Mon, 12 Oct 2009 18:24:25 +0000

All tips that I will take into consideration. I recently got duped into saying “Yes, I give permission” to an MBNA rep. I don’t want the credit card – but after calling them immediately right afterwards to tell them that I don’t really want another card, they said, “sorry, we already processed it”

I heard from the rep that I spoke to the 2nd time around that if I cancel right away, it will be a negative impact on my card – but by how much?

By: Kyle

Kyle — Fri, 09 Oct 2009 13:28:37 +0000

Debt sucks, It is somewhat possible to survive without a credit history. I got my first car without a credit history, I paid cash. The biggest sticking point would be a mortgage. Don’t assume you have to vet a credit card to build credit. I got a car loan without having a credit history.

By: Simple Weekend Roundup | Simplified Financial Lifestyle

Simple Weekend Roundup | Simplified Financial Lifestyle — Fri, 09 Oct 2009 12:25:16 +0000

[...] post Financial Highway to a good credit card offers some simple tips to help you maintain a good credit score and how have a good score can help [...]