What's your credit rating?

[ZoomZoom71]

Well, I've covered liquidity and unsecured debt. Now, it's time to see what the PGL Credit Score Whores have.

In preparation for this poll, I went to www.annualcreditreport.com, which is the true "free credit report" offered at no cost to everyone (provided you have a valid SSN). You can get it once per year for free. This free report shows everything about your credit except for your actual credit score. So, I paid the nominal fee to get my score for each of the 3 credit reporting agencies. (Experian, TransUnion, and Equifax/FICO) Just to make it simple, I'll use the FICO score for this poll. This seems to be the one that matters most, anyway. It can range from 300-850.

Whatcha got??

[N0W IM N0THING]

Last year when I checked mine my FICO score was 785

[lovekeiiy]

mine has been varying around 750 to 760 lately. One of my credit cards gives a credit profile with a score. I believe they base it on Transpirian's report. After the UCSD situation, my rating was around 640. Until recently, I had my score up in the 770s.

That annual report site totally rocks.

[namehater]

maybe ive already checked mine this year, i couldnt get anything for free except a list of BS that i had to dispute

[Causedawg 83]

Around 730 when we bought our new house. I don't know if that's affected it at all. I hope to some day be like Dave Ramsey and pay for everything with cash. I hate paying interest.

I created a sweet spreadsheet using excel to help me keep track of how much equity I have in my home after each payment is made. It's a SLOOOOW process gaining equity. Interest eats up damn near 90% of every payment we make right now. It's quite discouraging.

[Quo]

Originally Posted by Causedawg 83

I created a sweet spreadsheet using excel to help me keep track of how much equity I have in my home after each payment is made. It's a SLOOOOW process gaining equity. Interest eats up damn near 90% of every payment we make right now. It's quite discouraging.

Nahhhhhh. You're just looking at it wrong. As long as your interest rate is low, just pay your mortgage every month and forgetaboudit. You'll look back in 10 years and be satisfied. If you're really set on not paying that much interest, just do the extra payment thing... make an extra payment (principal only) every year... gets you out of arrears and, if you're consistent, will cut your amortization by around 6-7 years on a 30-year note.

At least it's an asset that's gaining instead of withering to nothing... just think if it was a car. Talk about a losing battle... and no matter how you look at your house payment, it's better than paying rent!

[WormholeXtreme]

A few months ago mine was 790. Although i haven't checked recently since I put a few thousand on no interest financing with BestBuy and Newegg.

[Nolimit4show]

I havent checked mine in a long time, but im still 22 and im building it up, Ive never been late in any payments and everytime i have a credit bill i pay in full. Actually my credit card bill just came in yesterday, They owe ME .29 cents cause i always over pay them.

[Causedawg 83]

Originally Posted by Quo

Nahhhhhh. You're just looking at it wrong. As long as your interest rate is low, just pay your mortgage every month and forgetaboudit. You'll look back in 10 years and be satisfied. If you're really set on not paying that much interest, just do the extra payment thing... make an extra payment (principal only) every year... gets you out of arrears and, if you're consistent, will cut your amortization by around 6-7 years on a 30-year note.

At least it's an asset that's gaining instead of withering to nothing... just think if it was a car. Talk about a losing battle... and no matter how you look at your house payment, it's better than paying rent!

Awesome. Yeah, discouraging as it may be, I'd never consider anything different... except, going home and living with my parents for 5 years and putting 2/3 of my paycheck in a savings account. Then I'd have 100k saved away and I could buy the house outright.

[WormholeXtreme]

Originally Posted by Nolimit4show

I havent checked mine in a long time, but im still 22 and im building it up, Ive never been late in any payments and everytime i have a credit bill i pay in full. Actually my credit card bill just came in yesterday, They owe ME .29 cents cause i always over pay them.

That's the way to do it. I know several people at that age that skipped on a little $200 bill, or on rent, only to have it bite them in the ass years later when they went to purchase a house. Then having to run around paying off all those things they didn't pay to be able to qualify for a better interest rate on a mortgage.

[Nolimit4show]

Originally Posted by WormholeXtreme

That's the way to do it. I know several people at that age that skipped on a little $200 bill, or on rent, only to have it bite them in the ass years later when they went to purchase a house. Then having to run around paying off all those things they didn't pay to be able to qualify for a better interest rate on a mortgage.

Yeah my family doesnt play around with that, My Brother is a big time Loan agent (not the sharks type that screws people over) and i spent some time in that field and my Parents know about all that business (he is an insurance broker but also gives out lots of advice.) And one thing i was taught at an early age is that Credit Cards can ruin lives if not paid off, and Credit Cards is not "YOUR" money, its money that you borrow. Definitely heard those stories, cause when i used to work with my brother he would help his clients dispute the debts and raise their scores to help get better rates.

Im pretty sure a good credit score can help a lot of people during these low and bad times.

[Twilight]

Here is a tip for the credit challenged among our ranks. Check your credit report and dispute EVERYTHING on it that is bad. You will be surprised by what gets knocked off your report. Creditors are only human and when an account is challenged, they have to provide proof of the debt to the credit agency. Older debts are of course more likely to be erased.