Quote:
Originally Posted by shadowgray396
Credit scores are a joke. You need to be totally in debt to have a high credit score....
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Thing is Ray, I have no debt but I do have a high credit score. 984 out of a possible 999. So what does it take? 985, 990, what? I have a damn near perfect credit score, very little debt, only the mortgage and I'm a bad credit risk. Things have definitely changed.
11 years ago when we bought this house I asked for an $80,000 mortgage. They ran my credit then asked if I was sure I only wanted $80,000, wouldn't you like $200,000? No I don't want $200,000, I can't make those kind of payments. Oh sure you can. No thanks.
A few years later we applied for a home equity credit line to get the upper level sided and some new windows. I asked for $25,000, that was the smallest they offered. They suggested I get a $50,000 line of credit because the interest rate was lower. Okay, make it $50,000. When we went back to sign all the papers they suggested I get $100,000 line of credit because again the interest rate was even lower. So we got a $100,000 line of credit. Now we certainly never borrowed that much but it's still available if we wanted to.
Around the same time I opened a Home Depot credit card to purchase a generator. Got a discount by using the HD card. Took 5 minutes at the service desk and they said, here you go, you have a $15,000 credit limit. $15,000? I don't need a $15,000 limit, I'll never spend that much here. It's $15,000, take it or leave it.
Now I don't qualify for a store credit card at Carsons? Yup, things have changed.