Comments | debtproofliving: Realistic Credit Repair

je_reviens in debtproofliving

Realistic Credit Repair

May 09, 2006 09:05

In My Opinion -- The author misses the most obvious and best answer to this question. Tell FICO and the credit card companies to KISS IT. You don't need credit cards to live, regardless of the myth constantly perpetuated in our consumerist culture. If you do, you're living beyond your means. Perhaps she did need them to survive when her husband was ( Read more... )

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je_reviens May 9 2006, 15:59:12 UTC

Right, like I said, if you need a house or a car loan then you have to worry about it, but "Stephanie" already has those, so she shouldn't ( ... )

stefestella May 9 2006, 15:41:46 UTC

I'm learning that the FICO score really comes into play when you are buy a house or financing a car. If those are things a person desires to do, then the score is indeed very important. In that respect, this advice is sound.

The person does need to be educated on savings and avoiding credit cards, though, and that was not a part of this advice for reducing the credit score itself. Mainly, that's because saving money and avoiding the use of credit cards doesn't raise the FICO score; the only thing that raises the score seems to be the amount of available credit and making at least the minimum payments on time.

Saving money, using debt management or other debt reduction, and avoiding creating new debts is the true key to her long-term success. Unfortunately, those mostly concerned about your FICO score sometimes fail to remind us of those details. ;-)

bruiseblue May 9 2006, 17:28:56 UTC

Some of us DO need to use credit cards - and have a good credit score - to live our lives - for example, I travel for work, on my credit cards, and am them reimbursed - if I had to have cash reserves for that activity, that'd be just impossible - or would take far far too long ( ... )

Sorry, I cannot accept your premise as accurate je_reviens May 9 2006, 18:09:43 UTC

I once travelled extensively for work [2-3 weeks a month], in a job as a National Sales Manager, via reimbursement for my expenditures, and I never once used a credit card. The only exception I could see in your example, is that my boss used his travel agency to book my flights and mail me my tickets ( ... )

Re: Sorry, I cannot accept your premise as accurate bruiseblue May 9 2006, 18:23:26 UTC

I live in Canada, where we have a national debit system (Interac), but these can't be used as credit cards. Our infrastructure is better, but it's a debit system, not a credit card system ( ... )

Re: Sorry, I cannot accept your premise as accurate je_reviens May 9 2006, 18:46:48 UTC

Weeeelll I hate to be so argumentative ( ... )

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