Quote:
Originally Posted by papa smurf
trying to get my head around the obsession with credit, if i buy something it's because i have the money in the bank
|
And if I buy things on interest-free credit*, or put them on my credit card and pay it off in full when the bill is due, the money stays in my bank/savings accounts longer...
*which is easier to get with a good credit score
---------- Post added at 16:24 ---------- Previous post was at 16:23 ----------
Quote:
Originally Posted by Dingbat
Good tip.
Nationwide tells me mine is 604, which is negatively impacted by having no mortgage, credit card, or unsecured loans in my name. So it seems that the better you manage your finances, the worse your score becomes?
|
Not really - We have no mortgage (paid off in full a while back), I pay the balances on my credit cards in full each month, pay my utilities by direct debit, and my score is good...
The scoring companies give good scores for regular payments on things, no defaults, no missed payments - they can't give a positive score if people don't have any history of regular payments on things, especially credit deals.