Credit score only really matters if you are shopping for a loan, and then there is no difference between 750 and 850. You either qualify for the good rate, or you don't. Most auto manufacturers "promo rates" take a 720 or higher to qualify, the 800 gets the same rate as the 720. That being said, this is an old thread revived by a canoe.
The scary part is those promo rates that were 1.99 are now 4.59....
A solid credit score also reduces your insurance premiums a bit. They figure if you're a good credit risk you're probably a good insurance risk, too. One thing actuaries are good at is finding statistical correlations.
In reply to Steve_Jones :
I was surprised when I bought the BRZ last month, my dealer easily beat the best rate from PenFed who I was planning on using.
yupididit said:In reply to infinitenexus :
Have you shopped around other credit monitoring outside of CK?
I went to free credit report dot com and got my free annual report. It's about the same as credit karma, and slowly creeping up. Fortunately I won't need anything until probably a year or so, which gives me plenty of time to get my credit where I want it. Even though that's always a painfully slow process.
I have always been responsible about my loan payments, but one unpleasant situation occurred last year. I decided to buy a house with a mortgage and applied to the bank for a loan. After reviewing my application, they told me that my credit rating was too low and they would not be able to give me such a large loan. I decided to look into it, and it turned out that the bank had made a mistake and mixed up my credit history with my brother's credit history. I contacted Mortgage Broker Wolverhampton, and he helped me work things out. I advise you to contact a broker if you have any problems. It will save you time and your nerves.
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