i actually already have pretty good credit w/out a credit card. I took a loan out to buy my car which i originally co-signed with my parents so that I would be able to get a good rate and loan, and I have perfect payments on it. I've only missed one payment on anything and that was a cellphone bill. It was a total of 1 day late. Also I've built credit by financing jewelry with Harris Jewelry, which works directly with military members so that the payment comes directly out of your paycheck, and you don't have to worry about if your payment is late or nething like that. They report monthly that the customer has perfect payments. My bank does the same, they report that I have nvr overdrawn. So in actuality, I have pretty good credit without having to buy credit cards, so applying for a loan or anything of that nature would be simple. thanks anyways though!

 

Have you checked your score? 30% of your FICO is based on the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits).

10% is calculated based on the types of credit used -- installment, revolving, consumer finance.

You have no revolving credit.. your score isn't going to be harmed.

 

^ yes I have. It's mid 700s

 

yeah they are just racking up money right now however through oil profits and credit card payments

 

I have no idea who you're talking about

 

<--- 1580



wait that was my SATs

I am not even sure what my credit rating is











BTW, I am completely full of shizzz on the SAT thing

 

Out of college I was pretty racked with debt. I had a 20k college loan, 10k new car loan and 5k CC loan while renting an apt. I ditched the apt and moved in with my parents and concentrated on debt elimination.

I worked hard and within 4 yrs of graduating, I payed off all of the above debts and at the age of 25 was debt free. Since then, I only purchased items that I was able to pay for in full with the exception of a house and a car.

Fast forward to today, I'm 35 years old have a mortgage and will have my car paid off next month. My concentration will be to finish off my mortgage within the next 5 yrs so by 40 I'll be truly debt free (until my little one is ready for college).

 

Yeah, your credit score is probably higher than your SAT score was!

 

For those with tons of debt, it wasn't going well before. Now they just can't get anymore, have to pay the piper and face the problem instead of just masking the symptoms.

Now - to be in line with the other posters. My 11 year old 30 year mortgage will be paid off in another 4 or so years. I have no car payments on either car. I pay my CC bill off monthly, and use the CC to get the mileage, which almost pays for a free ticket yearly for a vacation. My 401K gets maxed. So I float debt month to month, and have a failry minimal mortgage left to get rid of, but thats it.

 

About $1Mill fixed/liquid assets with no unsecured debt - in process of divorce so cut that in half. Probably realize some debt once I have to buy a new house, furniture, electronics, etc...