Established Contributor
Posts: 852
Registered: ‎09-18-2007
Re: Success Stories and Encouragement
Although I agree with your basic premise, I think what most people on this board are trying to advocte is wise use of credit, which does not necessarily equate with debt.  If you don't have credit, and don't use it, you will not have a decent FICO score, which will bite when it comes to obtaining those items where credit is pretty much required...purchasing a home, for most, a car.  Responsible people are trying to promote using credit wisely - you pay off your bill each month, you are not in debt.  But you are building a FICO history.  FICO is suppose to be determining your credit risk...not your wealth, and I understand that for many on this forum its a game.  But realize, without using credit, and using it responsibly, you will not be showing your ability to handle it.

That said, yes, there are many who seem very irresponsible, and have agreed with you on previous posts, and am often appalled at some questions.  But, to accumulate a "credit portfolio" you do have to use it, hopefully wisely.  So, if someone charges their groceries, to get points for travel, and then pay off their card each month, great.  I have a friend who does that, and she has traveled all over the world for great rates.  She also has accumulated a great credit score in the process, and owes no money other than a mortgage.

Starting Score: EQ 679, TU 697
Current Score: EQ 680, TU 672
Goal Score: EQ 720, TU 720

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