Stop trying to max your credit score. You don’t win any extra prizes for having an 850.
Having a good credit score (>670) isn’t difficult. Have a couple of cards, keep your balance under 1/3 of the limit, and pay it on time. That’s it. You’ll have a 700 in short order. Getting it above 750 is just more of the same.
I get that there are perfectly responsible people who don’t leverage credit to gain their needs and then are rejected by the banks when they go looking for a 200k loan. But that’s not the world we live in. Bill the Banker isn’t the guy whose lived in your community for twenty years and goes to your church. That world is gone and had problems too.
This impersonal world sorta sucks, but I’m not close friends with my neighbors and some of them seem like people I wouldn’t get along with anyways.
The real rub of it, in my opinion, is we are subject to these standards without being consulted or, really, considered.
But honestly, don’t worry about maxing your credit score.
Getting above 700 is quite easy but going above 800 without a car loan or mortgage has been pretty difficult for me and my partner. Credit cards alone even with high limits doesn’t look the same to the Bureau’s as a mortgage or auto loan for whatever reason.
Problem is that those “non-persons” can’t stay in their lane, and have to pollute and disrupt society with their predatory tactics, instead of going to some forest and “pulling themselves by their bootstraps” alone.
These are strangers asking for money. They have no objective evidence that they are a good bet. Why would the bank give them a large loan for a long time?
I wouldn’t give that person money and you wouldn’t either. Hell, I wouldn’t give a lot of people I know that loan. Less about them and more about me.
Credit Score exists to sell you more Credit Score. This seems to have come about as a natural extension of them being required to let you see your Credit History.
It’s Credit History that you want, and that lenders check. They may turn it into a score, but that score varies by lender and what you’re borrowing for, and frankly they may want more than just credit history anyway if you’re borrowing enough to buy a house.
If you don’t have any credit history, use a credit card for your day to day spending, pay it off in full each month. As a bonus, you often get extra consumer protections that debit card boys don’t get.
Credit scores include credit history and more. Credit scores are used by many lending industries. Credit history is one of the two major factors in determining a credit score. There are two less than major ones and two minor ones. But to reduce credit scores to just history is wrong.
Stop trying to max your credit score. You don’t win any extra prizes for having an 850.
Having a good credit score (>670) isn’t difficult. Have a couple of cards, keep your balance under 1/3 of the limit, and pay it on time. That’s it. You’ll have a 700 in short order. Getting it above 750 is just more of the same.
I get that there are perfectly responsible people who don’t leverage credit to gain their needs and then are rejected by the banks when they go looking for a 200k loan. But that’s not the world we live in. Bill the Banker isn’t the guy whose lived in your community for twenty years and goes to your church. That world is gone and had problems too.
This impersonal world sorta sucks, but I’m not close friends with my neighbors and some of them seem like people I wouldn’t get along with anyways.
The real rub of it, in my opinion, is we are subject to these standards without being consulted or, really, considered.
But honestly, don’t worry about maxing your credit score.
This post is about insurance premiums and has nothing to do with credit scores.
The rest of the comments, on the other hand.
The post is about insurance premiums, but OPs title is very clearly about credit scores
Oh I see that now.
Credit-based insurance score is applicable though with relevant overlap.
Think Lexisnexis instead of equifax/transunion etc.
Getting above 700 is quite easy but going above 800 without a car loan or mortgage has been pretty difficult for me and my partner. Credit cards alone even with high limits doesn’t look the same to the Bureau’s as a mortgage or auto loan for whatever reason.
Problem is that those “non-persons” can’t stay in their lane, and have to pollute and disrupt society with their predatory tactics, instead of going to some forest and “pulling themselves by their bootstraps” alone.
These are strangers asking for money. They have no objective evidence that they are a good bet. Why would the bank give them a large loan for a long time?
I wouldn’t give that person money and you wouldn’t either. Hell, I wouldn’t give a lot of people I know that loan. Less about them and more about me.
Credit Score exists to sell you more Credit Score. This seems to have come about as a natural extension of them being required to let you see your Credit History.
It’s Credit History that you want, and that lenders check. They may turn it into a score, but that score varies by lender and what you’re borrowing for, and frankly they may want more than just credit history anyway if you’re borrowing enough to buy a house.
If you don’t have any credit history, use a credit card for your day to day spending, pay it off in full each month. As a bonus, you often get extra consumer protections that debit card boys don’t get.
Credit scores include credit history and more. Credit scores are used by many lending industries. Credit history is one of the two major factors in determining a credit score. There are two less than major ones and two minor ones. But to reduce credit scores to just history is wrong.