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advantages to high credit scores?

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megaman1
Regular Contributor

advantages to high credit scores?

What types of advantages have been made available to you for having high credit scores? I'm curious.

Message 1 of 6
5 REPLIES 5
Revelate
Moderator Emeritus

Re: advantages to high credit scores?


@megaman1 wrote:

What types of advantages have been made available to you for having high credit scores? I'm curious.


Access to cheap(er) money.  Better credit products as well in some cases.




        
Message 2 of 6
cottontop
Contributor

Re: advantages to high credit scores?


@Revelate wrote:

 


Access to cheap(er) money.  


And..... more of it. Smiley Happy  please note, "Access" is not necessarily the same as "use"  Access to money is a form of comfort, not so much as a large pile of money in an emergency fund at the bank, but, knowing it's there to draw if you need it. 

Chase Unlimited 53k, us bank reserve 14k, nfcu flagship 32k, nfcu 15k cloc, discover 23.9k, citi 29k, 27.5k, GM 7.5k, Venmo 20k, penfed 15k, apple 8.5k,
Biz. Ink 10k, 35k, 20k, 5k. Us bank 9k, GM 29k
Message 3 of 6
09Lexie
Moderator Emerita

Re: advantages to high credit scores?

Better terms, easier qualifying for auto, mortgage and cc's, more available CL with less effort. In other words, 1-2 cc's with $10-20k CL as opposed to needing quite a few cc's with lower CL's.
Message 4 of 6
takeshi74
Senior Contributor

Re: advantages to high credit scores?

...and keep in mind that it's not just the score itself that matters.  As always, your entire credit picture matters.

Message 5 of 6
Roarmeister
Frequent Contributor

Re: advantages to high credit scores?

Access to better quality cards and higher credit limits.  Some of the best reward cards require "excellent" credit; i.e. those with lowest chance of defaulting.

Starting Score: EQ 732 October 2007; Current Score: EQ 839; TU 865, July 2022;
Oldest Reporting EQ Account: 20.4 years; EQ AAoA: 9.9 years;
ACTUAL Oldest account 40.1 years; ACTUAL AAoA 19.3 years.





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