Comments on: What is a Good Credit Score? http://cashmoneylife.com/what-is-a-good-credit-score/ Money Management, Small Business, Career Thu, 09 Feb 2012 19:08:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ryan http://cashmoneylife.com/what-is-a-good-credit-score/#comment-33543 Ryan Thu, 14 Jul 2011 19:29:24 +0000 http://cashmoneylife.com/?p=2178#comment-33543 I'm not sure, Leon. I would get a credit report from each of the bureaus (you can get one free credit report each year from each of the bureaus). Then compare each report to the others and make sure they are all accurate. It's possible there is some erroneous or outdated information on one or more reports which is bringing your score down. You should also contact the credit bureaus to inform them about the bill that is in dispute. It's possible that is bringing your score down, and having that removed could improve your credit score. Best of luck. I’m not sure, Leon. I would get a credit report from each of the bureaus (you can get one free credit report each year from each of the bureaus). Then compare each report to the others and make sure they are all accurate. It’s possible there is some erroneous or outdated information on one or more reports which is bringing your score down. You should also contact the credit bureaus to inform them about the bill that is in dispute. It’s possible that is bringing your score down, and having that removed could improve your credit score. Best of luck.

]]> By: Leon Rupp http://cashmoneylife.com/what-is-a-good-credit-score/#comment-33541 Leon Rupp Thu, 14 Jul 2011 18:28:23 +0000 http://cashmoneylife.com/?p=2178#comment-33541 I recently applied for a refinance on a mortgage loan. The credit scores were as follows: Transunion 820 Equifax 701 Experian 678 why such a difference in scores???? The only blotch on my credit is a $19 disputed bill from trash service. I recently applied for a refinance on a mortgage loan. The credit scores were as follows:
Transunion 820
Equifax 701
Experian 678
why such a difference in scores????
The only blotch on my credit is a $19 disputed bill from trash service.

]]> By: Ross@GoBeRich.com http://cashmoneylife.com/what-is-a-good-credit-score/#comment-32491 Ross@GoBeRich.com Wed, 04 May 2011 05:16:09 +0000 http://cashmoneylife.com/?p=2178#comment-32491 Glendon, I've never owned a business with employees before, so obviously you have more of an insight than I do. I would just think that if I were interviewing people to work for me and represent my company, I would want to find out as much as possible about that person (especially if it's for some type of financial position like you mentioned), and I really think that a person's credit history says at least a little something about a person's character. I agree about how easy credit-building is with no debt. Just as long as the balance is paid off every month and not forgotten about. Glendon,

I’ve never owned a business with employees before, so obviously you have more of an insight than I do.

I would just think that if I were interviewing people to work for me and represent my company, I would want to find out as much as possible about that person (especially if it’s for some type of financial position like you mentioned), and I really think that a person’s credit history says at least a little something about a person’s character.

I agree about how easy credit-building is with no debt. Just as long as the balance is paid off every month and not forgotten about.

]]> By: Glendon Cameron http://cashmoneylife.com/what-is-a-good-credit-score/#comment-32481 Glendon Cameron Tue, 03 May 2011 17:16:48 +0000 http://cashmoneylife.com/?p=2178#comment-32481 I owned a company that hired MANY folks with bad credit, and many turned out to be great employees, I don't see how a credit would determine how many people would fair in a job. It all depends on the job, finance, accounting, banking, I totally understand why your credit is interest, if you can't handle your own money how can you handle a customers. Many employers are checking your credit to see if you have any convictions, liens, garnishments which are on your public records section. Insurance companies in my opinion use credit scores to jack up your rates, how does your credit score bear on your driving record, your home owners insurance ??? If you are debt free, it is incredibly easy to have a high score! Keep four cards with high limits that you use once or twice a month and pay those card off every month, then you are good to go! I owned a company that hired MANY folks with bad credit, and many turned out to be great employees, I don’t see how a credit would determine how many people would fair in a job. It all depends on the job, finance, accounting, banking, I totally understand why your credit is interest, if you can’t handle your own money how can you handle a customers.

Many employers are checking your credit to see if you have any convictions, liens, garnishments which are on your public records section. Insurance companies in my opinion use credit scores to jack up your rates, how does your credit score bear on your driving record, your home owners insurance ???

If you are debt free, it is incredibly easy to have a high score! Keep four cards with high limits that you use once or twice a month and pay those card off every month, then you are good to go!

]]> By: Ross@GoBeRich.com http://cashmoneylife.com/what-is-a-good-credit-score/#comment-32470 Ross@GoBeRich.com Tue, 03 May 2011 07:43:32 +0000 http://cashmoneylife.com/?p=2178#comment-32470 Pat's comment hits on exactly what I think about every time I read an article about credit scores. It's called a CREDIT score for a reason, that reason being that it's simply an indicator of how reliable of a person you are. I for one am all for employers checking credit scores, as I think it typically speaks volumes about a person's character, like how trustworthy and responsible they are and how well they honor their obligations. My only caveat to this opinion would be a situation where a person has never missed a payment and has been financially responsible, but just doesn't have much of a credit history. Pat’s comment hits on exactly what I think about every time I read an article about credit scores. It’s called a CREDIT score for a reason, that reason being that it’s simply an indicator of how reliable of a person you are. I for one am all for employers checking credit scores, as I think it typically speaks volumes about a person’s character, like how trustworthy and responsible they are and how well they honor their obligations.

My only caveat to this opinion would be a situation where a person has never missed a payment and has been financially responsible, but just doesn’t have much of a credit history.

]]> By: Ryan http://cashmoneylife.com/what-is-a-good-credit-score/#comment-32364 Ryan Fri, 29 Apr 2011 19:35:10 +0000 http://cashmoneylife.com/?p=2178#comment-32364 Very true. Insurance companies and cell phone carriers also use your credit score as an indicator. Very true. Insurance companies and cell phone carriers also use your credit score as an indicator.

]]> By: Pat S http://cashmoneylife.com/what-is-a-good-credit-score/#comment-32363 Pat S Fri, 29 Apr 2011 19:27:46 +0000 http://cashmoneylife.com/?p=2178#comment-32363 Credit scores make a difference, even if you aspire to live debt free. Even employers are using credit scores to screen potential applicants these days. Credit scores make a difference, even if you aspire to live debt free. Even employers are using credit scores to screen potential applicants these days.

]]> By: Paul http://cashmoneylife.com/what-is-a-good-credit-score/#comment-28993 Paul Mon, 24 Jan 2011 17:30:14 +0000 http://cashmoneylife.com/?p=2178#comment-28993 Jim, that is not correct. A credit card is assigned to one person's social security number and can only be reported on that person's credit report. It would be illegal for them to report that credit card on your credit report whether they reported favorably or not. Don't believe me? Ask for a copy of your credit report and see for yourself... that card will not be listed on your report. Your credit score went up for other reasons, not from being a signer of your parent's credit card. Jim, that is not correct. A credit card is assigned to one person’s social security number and can only be reported on that person’s credit report. It would be illegal for them to report that credit card on your credit report whether they reported favorably or not. Don’t believe me? Ask for a copy of your credit report and see for yourself… that card will not be listed on your report. Your credit score went up for other reasons, not from being a signer of your parent’s credit card.

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