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shadycreek007

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0-debt,O-carry over monthly bills, $750k estate, only 742 score?
I get a "c" because I only use 1 credit card for 17 years now with 0 late payments and I pay-off monthly. So if I get multiple cards and pay interest monthly, my score rises? then I get a "d" on total accounts, because I don't have any loans. I have been 100% debt free for 9 years, have a 3/4 million dollar estate, all vehicles and assets paid for with cash or check. CK suggests that I get more loans and pay interest every month. So basically, I should go into debt to raise my credit score. Sounds backwards to me. When I had 3 kids at home, mortagage, and little other debts, My score was over 800, now that all is paid for and no debts, my score is 742. What is our goal here?

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The goal is to have AVAILABLE a good amount of credit.  It isn't being in debt, it's how much people may trust you to be reliable in repaying a large amount of money as promised.  One could have dozens of credit cards but, if they don't use credit wisely and pay the cards in full every billing cycle (which means they wouldn't be paying interest).  It doesn't matter how large an estate you have because some multi-millionaires can't quallify for a low credit limit card.

I suggest you read the articles on this site so you can get a better understanding of how credit works.  That is the total purpose of this site because far too many people do not understand credit at all, to their detriment.

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