"FICO" Credit Score mean anything..?

[Tricolore66]

It’s not an either-or scenario. I never carry a balance and have a stellar score. Debt to income ratio makes a huge difference as well, as does consistent employment, property ownership, longtime residence, bank balances.

Originally Posted by daveathall

I've been thinking about this. I am retired so this wont apply to everyone, I know that.

I would rather have a credit card with a zero balance and not so stellar credit score than a great credit score and a credit card or two maxed out.

[FTX I]

Originally Posted by superdog

Truly, it’s impressive how you can always weave it in there.

Somehow, every thread revolves around some kind of enormous money you spent.

It is a very impressive ability.

For the real question, which watch did you pick up? Sounds like a good one.

What some here fail to understand is this place is not about watches but about people. Watches are just our common interest but nobody here is more or less respected for how much they have, how many watches they own, stainless steel or precious metal, quartz or automatic, holy trinity or not, modern or vintage, none of that matters. We are liked or respected here for who we are, how we conduct ourselves, if we're friendly or not, gentle or not, firm when we need to but willing to admit mistakes when they happen, if we respect others, have empathy etc. How much does one spend is absolutely irrelevant and I hope one day everyone will understand that here.

[encarter13]

Depends - If you are wealthy enough to pay cash for big purchases including houses and cars, then a credit score does not matter at all.

If you need/want to finance larger purchases, then it is very important.

[Laszlo]

Originally Posted by BreguetRolex

Owning and using Credit Cards is sure not a sign of any weakness for sure. It's a great feeling to have the "FIREPOWER" available at the flick of a wrist when your 1/2 way around the world and that $50K watch catches your eye with the odds your not carrying that around in your back pocket. We have 3 heavy duty cards and all of them are always on standby just incase. You just have to have the means and ability to pay those bad boys off before the end of the billing cycle so no interest is occurred....

Going over your limit regardless of it being approved on the fly (most CC will allow this), from a FICO perspective, it can absolutely crush your score. As far as the reporting agencies are concerned, you’ve over extended yourself.

[Rashid.bk]

Originally Posted by encarter13

Depends - If you are wealthy enough to pay cash for big purchases including houses and cars, then a credit score does not matter at all.

If you need/want to finance larger purchases, then it is very important.

This is the case pretty much.
The credit score system is very important in the US financial system, but only to the middle class and under who are trying to achieve the "american dream", house, kids, car, college fund, retirement...
For these people it's crucial.

For the rich/wealthy or let's simply say cash buyer who pay for a house, car, medical bills, life and desires in one cash bank transfer via an accountant or manager for example, it is a useless metric. Not to mention that the equation seems to favor building, maintaining and erasing debt, versus rewarding such a person who lets say pays cash in his life never accumulating a single iou.

Bezos, Bloomberg, Gates or Buffet don't have the slightest idea of what it means to have someone on the other side of a desk talk to you about your purchase limitations based on this math equation.

If you are not in a position to pay cash outright for everything that revolves around your "living", then it is a crucial metric in deciding what and how you can buy.

The real issue with this score is who exactly manages it, how they manage it, when do they manage it and how you can affect it.

[encarter13]

Originally Posted by BreguetRolex

No matter what, in todays world its nice to have some CC "FIRE POWER" for that just incase moment. Was in Dubai recently and deliberately only took one card so that I would not doing anything "CRAZY" , however after purchasing several large items, a particular watch caught my eye and of coarse now unable to buy it... NOT Long story short , my CC was over limit by 20K+ and still Citi Card allowed the sale to go through....

If I may ask, what did you do for a living? (I am assuming you're retired)

[BreguetRolex]

Originally Posted by encarter13

If I may ask, what did you do for a living? (I am assuming you're retired)

Listen to the top senior advisors on the stock market page here spew their incredible money making wizardry. ! Dont marry a woman on her looks but find one with awesome father..1 HAH

[Sperry]

Originally Posted by BreguetRolex

Dont marry a woman on her looks but find one with awesome father..1 HAH

Advice to live by!

1] The dorky-looking straight-A's kid in high school ends up with the smartest, prettiest gal. "Doctor, lawyer, Indian chief ..." still trumps all.

2] If you're in love with two women and one is rich, marry the rich one.

3] Marry well. Divorce even better. Inherit gracefully.

[Watch This]

Originally Posted by BreguetRolex

You need one with money or dump her rear.. You look at your MIL to see what your getting in the future and you look to your FIL to see where you will stand later in life when he has passed..:) I would rather mary a "SKANK" old hag that has money then some slippery looking skinny B that think her rear is going to support you later on in life..HAHAHAHA

Sir. Have you no clue how offensive your post would be to the female members of this forum? Do you care? Doubtful.

You should stick to the unending bragging. It seems to have endeared you to so many here.

[gnuyork]

Originally Posted by BreguetRolex

You need one with money or dump her rear.. You look at your MIL to see what your getting in the future and you look to your FIL to see where you will stand later in life when he has passed..:) I would rather mary a "SKANK" old hag that has money then some slippery looking skinny B that think her rear is going to support you later on in life..HAHAHAHA

Just wow! Now it all makes sense.

[BreguetRolex]

Originally Posted by Watch This

Sir. Have you no clue how offensive your post would be to the female members of this forum? Do you care? Doubtful.

You should stick to the unending bragging. It seems to have endeared you to so many here.

This is 1-00% directed at whom I married and no one else .. I was posed the question and I answered and if it offended you, so so so sorry... I have always looked at the big picture and not the shop run.. Marrying into looks and bikinis when young dont usually pan out later when it really counts. Cheers and merry mass and happy new year to you and family..:)

[BreguetRolex]

Originally Posted by gnuyork

Just wow! Now it all makes sense.

You are correct and darn proud of it and this is with no stock market advise from the internet pros..:) Great to be kicking and alive still with all the doom and gloom upon us.. Merry Xmass and happy new year to you and family.WOW WOW and WOW :)

[BreguetRolex]

Originally Posted by Sperry

Advice to live by!

1] The dorky-looking straight-A's kid in high school ends up with the smartest, prettiest gal. "Doctor, lawyer, Indian chief ..." still trumps all.

2] If you're in love with two women and one is rich, marry the rich one.

3] Marry well. Divorce even better. Inherit gracefully.

Check out this goober dork..! who in hell on earth would merry that dork..?

A6C3BED9-273F-4FE6-B5B9-8DE5DF0FA2EF.jpeg

[Etschell]

Originally Posted by BreguetRolex

You need one with money or dump her rear.. You look at your MIL to see what your getting in the future and you look to your FIL to see where you will stand later in life when he has passed..:) I would rather mary a "SKANK" old hag that has money then some slippery looking skinny B that think her rear is going to support you later on in life..HAHAHAHA

You've obviously never watched the Kardashians. Pretty sure their rears are quite supportive.

[BreguetRolex]

Originally Posted by Etschell

You've obviously never watched the Kardashians. Pretty sure their rears are quite supportive.

your married to one and collected their cash..? :)

[Etschell]

Originally Posted by BreguetRolex

your married to one and collected their cash..? :)

No but i did sleep at a holiday inn express last night.

[BreguetRolex]

Originally Posted by Etschell

No but i did sleep at a holiday inn express last night.

This all started when some one ask what I did or do for a living and I responded with my answer.. You dont want a straight up answer then do not ask is how I see it..No sugar coating politallly correct answers from this old coot...:)

[Etschell]

Originally Posted by BreguetRolex

This all started when some one ask what I did or do for a living and I responded with my answer.. You dont want a straight up answer then do not ask is how I see it..No sugar coating politallly correct answers from this old coot...:)

It doesnt bother me really. I just wanted to point out one could have both if was one's goal.

[daveathall]

I married my wife because I love her, money never played any part in that decision and I wouldn't trade her for any amount of money in this world.

[DudePerfect]

Originally Posted by Watch This

Sir. Have you no clue how offensive your post would be to the female members of this forum? Do you care? Doubtful.

You should stick to the unending bragging. It seems to have endeared you to so many here.

Yeah, cause there have never been females on this forum who married men for money.

I gotta say I actually appreciate OP not for bragging but for his devil may care, he don’t care if other forum members care honesty.

People here gotta learn let people live their own lives and have own opinions different or not. It takes all kinds.

[CamSLC]

Always worth the read

[pickettt]

Originally Posted by daveathall

I married my wife because I love her, money never played any part in that decision and I wouldn't trade her for any amount of money in this world.

I married my wife when she worked at The Tasty Wok Chinese Fast Food restaurant.....just had our 21st wedding anniversary this year.

[Chester01]

Yes, but sometimes I think about starting my own credit score company. I mean the data is useful to companies but it’s a racket with these credit agencies.

[WatchEater666]

I have no clue what mine is in the US but when I was credit checked to rent an apartment I was told it was good (lol). Curious as to what they checked given I'm just here on a consultant visa.

[ronricks]

I’ve never met anyone who said they wished they had a lower credit score. If you are retired a credit score doesn’t matter as much so there are situations where it might not matter but for most of us you are only as good as your credit score. You can have a great credit score and no debt which is why I don’t take the Dave Ramsey’s of the world very seriously.

[.brian.]

Originally Posted by pickettt

I married my wife when she worked at The Tasty Wok Chinese Fast Food restaurant.....just had our 21st wedding anniversary this year.

Yea, but you probably got all the General Tso's chicken you wanted, for the price of, on the house. That is worth it's weight in gold. Especially if you opt for the pork fried rice instead of white rice. They usually charge extra for that.