FICO scores and life

[Anonymous]

So I know having high FICO scores can allow me to rent without security deposits and have other perks like low interest rates, but how will that help me in the future?

Will that help me get the lowest interest rates when I buy a home or car if my scores are sky high? If it does give me the lowest interest rates, would it still even matter if I plan to PIF each month and not carry a balance for my home or car loan?

[Anonymous]

Yes, lower interest rates when applying for a mortgage or care.

When you have a mortgage or car loan you pay the monthly payment each month, not the entire balance.  You will always have a balance remaining unless you outright purchase your home or vehicle.

Having a high score, in the event of an emergency, you know you will be able to get what you need.

It shows you are responsible and reliable if a prospective employer pulls your credit report or another lender

Makes you feel good about your self

Lower insurance rates

More negotiating power if you need to apply for a loan

[Anonymous]

I also heard that FICO High Achievers (760+) get invited to the best parties and maintain Nice status on Santa's list even with a few naughty behaviors during the year. I have to wait a bit to find out if all this is true and whatever other perks there may be.

[Anonymous]

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@Anonymous wrote:

I also heard that FICO High Achievers (760+) get invited to the best parties and maintain Nice status on Santa's list even with a few naughty behaviors during the year. I have to wait a bit to find out if all this is true and whatever other perks there may be.

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Lol

[Anonymous]

A lower score often indicates problems with credit.

I don't enjoy being in such a situation, independent of everything else.

[Gunnar419]

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@Anonymous wrote:

I also heard that FICO High Achievers (760+) get invited to the best parties and maintain Nice status on Santa's list even with a few naughty behaviors during the year. I have to wait a bit to find out if all this is true and whatever other perks there may be.

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I want to know just how many naughties I can get away with! If I've been good all year, can I do all my naughties in the last week of the year and still be a high achiever in 2014? Darn, they didn't tell me any of this stuff in all those articles about how FICO scoring works!

Here i've been nice all year when I probably could have gotten away with all kinds of things!

But OP, yes. If you're going to get a mortgage or auto loan at all, a high score will benefit you because there's really no way to PIF an installment loan without incurring interest first. If you're confident you can always pay cash for everything you buy, including houses and cars, then maybe you don't need a good credit score. But you still never know when a poor score (or even lack of a score if you don't use credit at all) can suddenly trip you up on things like getting a job or renting a home or signing up for utilities.

[Anonymous]

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@Anonymous wrote:

I also heard that FICO High Achievers (760+) get invited to the best parties and maintain Nice status on Santa's list even with a few naughty behaviors during the year. I have to wait a bit to find out if all this is true and whatever other perks there may be.

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Aw! Why didn't any one ever tell me about this?! I went and got myself all over the Naughty list... now I see a way out!

[myjourney]

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@Anonymous wrote:

I also heard that FICO High Achievers (760+) get invited to the best parties and maintain Nice status on Santa's list even with a few naughty behaviors during the year. I have to wait a bit to find out if all this is true and whatever other perks there may be.

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LOL

[myjourney]

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@Anonymous wrote:

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@Anonymous wrote:

I also heard that FICO High Achievers (760+) get invited to the best parties and maintain Nice status on Santa's list even with a few naughty behaviors during the year. I have to wait a bit to find out if all this is true and whatever other perks there may be.

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Aw! Why didn't any one ever tell me about this?! I went and got myself all over the Naughty list... now I see a way out!

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A BIG