Credit score

Just checked my credit score-974 out of 999 . Is that good?

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I don’t know too much about credit scores but this seems to be a really good score.
Good for you @firemonkey! :slight_smile:

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What love life?

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I didnt finish reading, but I will say this:
Ones credit score and zip code are the two main factors that determine identity theft risk and fraud.

If the credit is not at least average, the identity is rarely stolen)
.:open_mouth:
:rofl:

(Financial information is usually not shared among strangers and is kept private)

I’m not familiar with that credit score. In America we use the Fair Isaac Corporation (FICO) score. The range is 300-850 (credit worthiness increases as the score increases). Your credit score is primarily used to determine the percentage rate of interest you’ll pay when you borrow money.

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If you borrow money. :smiley:

That’s a high credit rating. In the UK 961 upwards is excellent.

Even with the high credit rating I checked and I wouldn’t qualify for many credit cards. Best one that came up said I had a 40% chance. Probably because I’m unemployed. With our somewhat reactionary society re financial matters people are quick to assume if you are poor/unemployed you are going to be bad with money.

You need to borrow money to make money, so the less you pay for it the better. Well, some people are born into wealth…

Yes, you need capital to make money, and the cheaper you can get it in a credit score is sweet.

I don’t think @firemonkey is taking a credit score to raise finances for a business start up.

The reality is that those taking a credit score live in debt and want to lessen the effects of debt by having a goood debt score so they can take out other loans to cover the other debts.

Those taking out a debt to finance a business start up, are not that interested in their ability to get another credit card, although in desparate time may use one.

The credit score serves a purpose in living a life of debt, which is pretty common in the UK, as assets are tied up in mortgages, and the lifestyle in credit card debt. The credit score is for the uk as most people are tied in debt and a mortgage (and credit cards), and not for making money from the captial gained to make money as you claim.

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I have no debt. My credit card is paid off in full by direct debit each month.

So a good credit score does not make you borrow money to make money, which makes you wise. Your good credit score always makes you able to borrow money if you need it.

That would be excellent here in California. It would raise your chances of getting a new credit card (if you wanted one).

I thought credit scores only go up to 850? Oh, that’s here in the U.S.

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Is this a serious question ?

I was in debt up to my ears when I got sick and couldn’t find work that paid what I made prior to getting sick so my credit score took a nosedive. I am caught up with everything now but still have a horrible score.

Good for you.

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