I opened up Feedly this morning and saw this:
“DOES IT MATTER OR DOESN’T IT?!”
The first link is from Personal Profitability, and the second is from Financial Samurai. Both are good, interesting posts, but I actually like the second post better than the first (not that I disagree with the first post, though). Sam @ Financial Samurai really goes through the way that your credit score can impact you in varied situations, which I think is interesting.
I’m no guru, but I do know that, like everything PF-related, credit scores probably impact each of us somewhat differently. I have a relatively high score (775, last time I checked), but I don’t let worry about lowering the score keep me from applying for new credit cards (for travel rewards or to transfer balances).
If you have an extremely low score, you may struggle to get approved for a car loan, a credit card, or even rental housing. If you have a “ding” against you, it will fall off in 7 years, which is an awfully long time to wait to get a mortgage (if you’re no spring chicken). (One of my friends found herself in that situation, but they were patient and now pay less in a mortgage than they did in rent each month!)
Anyway, I really just showed up here today to say, “Hey, look, guys! This is funny!” I wonder if anyone else saw those two posts show up that way in their feeds today…. 🙂
I’ll be getting back to you soon with a mid-month budget update for April! Hope everyone’s having a good week so far.