for those that don't really understand the system and how it works.... basically what I said above there.... 750+ and you're sitting pretty. Anything over 800 and people will grovel at your feet.
An example based on my score of 751:
I walked into the Dodge dealer last Saturday at 11:00 am.... not a nickel in my pocket, unshaven, kinda smelly, tank top, board shorts, and flip flops.... pointed to a brand new Ram 1500 4x4 quad cab on the showroom floor and said shine it up fellas, I want it. They took it out back, washed it, shined it, and 1.5 hours later after driving around in someting else to kill time and signing all their shit, I drove it home. Nothing down, no bargaining, no arguments. And they took $9k off the price. (they offered this... I didn't ask for it.) (repeat new vehicle customer I guess)
They let me drive away with a brand new truck (after running credit of course) with nothing more than my drivers license, my phone number, and a signature.
Now, for all of you people that have this idea in your head that "fuck credit, my bank check card is all I need".... good luck ever doing anything like that.
Oh, and just to wrap it all up in a nice neat package.... yes, the papers I signed were for financing in full. Why? Because now I have a new loan. A good sized one. And sometime within the next 3 or 4 weeks, I will pay that off in full.... driving that FICO score through the roof.
see how it works?
(that's only one thing.... but the concept is there. You should be doing things like this across a number of things. Pay some off fast, pay some off slow... as well as maintaining steady revolving credit... like, put your tivo bill or something on a cc... pay the bill every month. It establishes that you can pay your bills on time, every time, consistently.
is your FICO score important? Better believe it is. Make late payments on shit or god forbid, default on something, and you're fucking yourself. Nobody else.
When it comes to property... your score dictates how good of a deal you get or how fucked you are. I see alot of younger guys on here every so often saying how, they don't need credit, I'll just pay for everything with cash, or if I don't have cash then I don't need it.... etc... etc...
you guys gotta open your eyes. Stop seeing "credit" as "in debt for life".... and start seeing credit = power, leverage, & options. Because that's what it is.
