Does your credit score/report matter to you?

Discussion in 'General Discussion' started by 46+2, May 14, 2011.

  1. 46+2

    46+2 Well-Known Member

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    I got to a point last year where I said F#$k it. My cable provider raised their rates on me at such an unfair pace, I decided to not give them a penny more. When i made that decision, I knew that my hard work at managing my credit was well on its way down the pooper. Well sure enough it dropped dramatically. I could not believe it. I also didnt care because I had no plans on taking out anymore credit. What pissed me off even more is that everything else concerning my credit is a-ok. I pay everything on time and keep low balances and low ratios yet this incident was like a scarlett letter. So I asked myself, WTF is the point of caring so much? If one financial commitment out of the 10-15 That I've had ( possibly more) counts so much on the negative end, then I feel this isnt really designed to work. So in conclusion, I am no longer a hostage to my credit score and report. What are your thoughts?

    P.s. My decision isnt the topic, the title is and feel free to explain why.
     
  2. exclusacon

    exclusacon Expert with the Scopes!

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    When I was younger, I didn't give a shit about it...but as I got older (in my early 30s) I started to realize (I got a wife) credit do matter. Like your credit score affect getting a job, crazy...I'm just smart about it now
    One CC, I only use for really important shit. Don't have cable ( I refuse to pay for channels I don't need or watch). I have internet on my phone.... feels so good not to owe. Credits/school loans bills. I refuse to be a financial slave...I pay everything cash...if I don't have the cash and its nothing major (car repairs, house stuff, etc) I just won't have it....
     
  3. 03Mach1

    03Mach1 Reason Has No Voice

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    Of course it does. Having good credit makes things so much easier.
     
  4. Dr. Grimlockisking

    Dr. Grimlockisking Twitter @GrimlockIsKing TFW2005 Supporter

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    Absolutely. Being forced into bankruptcy by an idiot ex-wife who didn't want to pay her bills in a divorce decree made me even more of a credit nazi. Sucks big time when you have a black mark on there for anything. Luckily, my employer understood and I was able to keep my security clearance which was my big worry.

    But yes, it matters. BIG time.
     
  5. The Dark Seeker

    The Dark Seeker TFW2005 Supporter

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    Off topic here....did you call and ask them if they would negotiate a lower rate with ya?



    For me, heck yea credit score matters. Without it, I don't think I would have been able to get a loan for my home :tongue: 
     
  6. 46+2

    46+2 Well-Known Member

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    I did and they could have dropped me to a lower package but that would mean another 2yr ext on my contract. Screw that.
     
  7. Scantron

    Scantron Well-Known Member

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    Yes, my credit is very important and I put a decent amount of effort into taking care of it. I pay my credit cards off in full every month, never run a balance on them, make sure that I never use more than ~10% of my available credit and pay all my other bills in full and on time. I've never been in a situation like the OP, but if I ever did find myself in such a bind, I'd probably suck it up and run out the remainder of my contract or pay a cancellation fee to get out of it, just to keep my credit score in good shape. I generally try to avoid contracts wherever possible to avoid the possibility of being trapped in a situation where a provider raises their rates and/or the service starts to suck.

    I also make sure to obtain once-yearly free copies of my credit report from annualcreditreport.com; to make sure I monitor my reports frequently, I break it up so I get one of the three reports every four months. In addition, I've put a freeze on my credit with all three reporting agencies so that, if someone ever does steal my identity, they can't open new credit in my name.

    All that said, I actually don't use credit very much, since I hate owing people money...but I like knowing it's in good shape for when I'll eventually need to purchase a home.

    Not to get to far into the specifics, but did it go into collections? Because if that happens, it's a massive hit to your score (as much as 100 points, from what I've read), regardless of anything else you might have going.
     
    Last edited: May 15, 2011
  8. rodimusprime2007

    rodimusprime2007 Only in a Jeep

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    Yes, I agree it is very important. Just last week I finally paid off 9 grand of credit card debt. Damn that feels good to say. All I owe is my Jeep and my wifes Jetta for 3 more years, and of course our house. No more CCs for me. Lets see, 36 right now, so about 10 years ago I had to claim bankruptcy, got a DUI, lost my jpb, my home, hell even had to sleep in my jeep for a few months while they were looking for it to repo. Ive busted my ass to get where Im at right now.
     
  9. G1Jetfire

    G1Jetfire Well-Known Member

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    Foreclosure sank my credit score. Once I was given that notice I decided to handle my other debts through a debt elimination company which negotiated a much lower payoff amount than originally owed. It took a while but I eliminated all of my debt and began saving. As a result my score took a hit but I have spent 4 years repairing it. My credit score is still low but it is better than it was since my debt was completely paid off. I have been able to apply for loans and lines of credit again which I am using to improve my score and hopefully buy a new home again. Fortunately I am making more money than I have ever made and enjoy the work I do. But if I had to find work my low score will affect who will hire me. Being able to afford a good living is more important to me than a good credit score. As long as my debt to income ratio is low, I will be able to make payments towards my debts and improve my credit score as a result.
     
  10. Metal Chaos

    Metal Chaos The Spark of Chaos

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    Yes it matters to me.
     
  11. beanman

    beanman Not a Decepticon

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    Unfortunately credit score matters - if you're looking to buy a house or car and you're not financially independent (enough) to pay cash up front. I'm sure there are people who can get buy with a poor credit score and pay cash for everything (but, if you're paying cash for everything, you probably have a really good job and not having a good credit score is simple laziness or "sticking it to the man")...

    Either way, it's a huge part of how our world works - and with jobs now routinely running credit checks to check an applicant's level of responsibility, it is not something to mess around with.
     
  12. chrisr291

    chrisr291 Master of the Unknown

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    Yeah, I just finished making up for all my early teen mistakes. I'm buying a house soon, so my credit has to be amazing:2c: 

    Whatever you can do to soften the blow, do it! Jobs, insurance, and pretty much everyone else checks your credit before determining your future with the organization:2c: 
     
  13. TrueNomadSkies

    TrueNomadSkies Airachnid's ratservant

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    Hasn't mattered yet, but there's more than one reason for me to keep up on payments & whatnot, as not doing so will likely cause it to matter in the future. :p 
     

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