Comments for credit meld info

Comment on Have you ever heard of anyone able to achieve a FICO credit score of 850? by correrafan

correrafan — Fri, 22 Jan 2010 19:07:28 +0000

I don’t know whether to congratulate you or pity you. A few years ago, my score was 795. I have made a New Year’s resolution to pay off as much of my credit card debt as possible, then close all but one account with each major company.

In fact, I think I’ll post this as a challenge to all Yahoo! answerers to do the same. If we all do it, we might make a dent in their bottom line!

Comment on Have you ever heard of anyone able to achieve a FICO credit score of 850? by Why Portland, Oregon?

Why Portland, Oregon? — Fri, 22 Jan 2010 19:04:12 +0000

yes…. nice goal by the way.

Comment on Have you ever heard of anyone able to achieve a FICO credit score of 850? by SPIFIMAN1

SPIFIMAN1 — Fri, 22 Jan 2010 18:25:19 +0000

My Wife’s was 849 the last time I looked.

Comment on Have you ever heard of anyone able to achieve a FICO credit score of 850? by mary z

mary z — Fri, 22 Jan 2010 17:55:12 +0000

Probably only the chairmans of equifax, transunion,and experian have credit scores that high.

Comment on Have you ever heard of anyone able to achieve a FICO credit score of 850? by Bibs

Bibs — Fri, 22 Jan 2010 17:27:00 +0000

It is probably not possible.

Comment on Have you ever heard of anyone able to achieve a FICO credit score of 850? by golferwhoworks

golferwhoworks — Fri, 22 Jan 2010 17:07:18 +0000

Never Ever saw a perfect score in 13 + years of looking at them. The highest I have ever seen is 826.

Comment on Why are people so obsessed over FICO/credit scores? by newjerseyguy

newjerseyguy — Fri, 22 Jan 2010 16:30:02 +0000

I agree with you regarding the FICO thing – a brilliant marketing job. If people would take care of their credit, the credit score would take care of itself.

Utilities, rents, etc., will never be considered “credit” however.

Comment on Why are people so obsessed over FICO/credit scores? by Matt

Matt — Fri, 22 Jan 2010 16:10:17 +0000

Paying for utilities and other similar bills are good to show that you pay your bills to certain people or entities, like an apartment complex. But paying for utilities or other similar bills is not a way to officially build your credit. Financing a car, getting a credit card, or getting a mortgage are the typical ways to do so. People focus on scores because it generalizes your ability to pay off any credit that has been extended to you into a single number. That number helps to decide how much it will cost you to borrow money in the future. It also says how able you are to pay off money you’ve borrowed, and you don’t borrow money and pay off utilities. The higher your credit score, the less interest you have to pay, and the lower your score is, the more interest you have to pay. And unless you are rich, if you want a house or a car, you’ll likely only have the option to finance it. And isn’t better to pay attention to your credit so that you can have more money for the things you want as well as the things you need?

Comment on Why are people so obsessed over FICO/credit scores? by johnjanetl

johnjanetl — Fri, 22 Jan 2010 15:52:39 +0000

Well utilities arent reported on your credit report when you pay on time. Basically the benefit of keeping a good score means that you will have low percentage rates on things you do finance. No one wants to pay 20% interest on a car.

Comment on How many times can you pull credit for mortgage without it hurting your fico? by IHaveAQuestion?

IHaveAQuestion? — Fri, 22 Jan 2010 15:52:05 +0000

Any number of times in a 15 day period as long as the inquiries are for the same things (if you have your credit pulled 15 times in 15 days my mortgage brokers it counts as one inquiry, the same for auto loans, etc)