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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Habits of People With Excellent Credit Score Date:  1/28/2015  11:44 AM
Author:  Patzer Number:  308990 of 312954

To me, the most important things are

Pay my bills on time & have plenty of credit

I think the cited article misses the point of how people get excellent credit scores. It focuses on the actions, but what looks really obvious to me about people who have excellent credit is the attitudes:

- They are more concerned with what makes financial sense than with a high score.

- They don't typically think about maximizing their credit scores. Instead, they think about paying the least interest, or getting the best rewards from their cards, or whether borrowing cheap money makes more sense than paying cash for a given purchase.

- They don't typically regard paying on time as an actionable item. It's a given of how they organize their finances and their life. In many cases, they pay bills on time simply because that's the right thing to do and/or it's what they agreed to do.

The actions they take because of these attitudes results in a good credit score; but the score itself is not the goal.

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