August Frugals

[Alan]

I've never completely understood what goes into a credit score. 30 years ago I was afraid to check on my score because I knew it sucked and I really just didn't want to know just how bad it was. I guess it got better over time and for the past 10 years or so Credit Karma reminds me via email every week or so of all the good things I can do with a score in the 830's.

I don't think the score has much to do with the amount of credit card debt, mortgages, loans, etc., but rather what percentage of available credit you routinely use and the timeliness of your payments. I think my fairly high "exceptional" rating is because we have no debt and routinely keep credit card purchases under 3% of available credit.

At some point last year mine dropped over 20 points one month but then recovered the next month to its usual range and I've never been able to figure out why.

[Yppej]

When we went it was about 1800, and we did not go through with it because we wanted to move, and I wanted it in the state where we lived.

I'm not sure I would do one now.

That is also a consideration for me, because I want to move to NH.

[frugal-one]

I just received a notice that my credit rating went down from exceptional to “very good. “ WTH. Whyyyyy???

I’ve come to the conclusion that they just don’t like me. Back in the days when I was working and my monthly credit card amount seldom exceeded $1000 per month, my credit rating was always a bit below 800. I couldn’t even break 800. Whyyyy???

now I charge 2 to 3 times that much per month. Of course it’s paid off monthly I never carry a balance.WHY DONT THEY LIKE ME!!!!????

Why does it matter to you? Are you going to need credit in the near future?

[iris lilies]

Why does it matter to you? Are you going to need credit in the near future?

It doesn’t matter, and that’s what I’ve been telling myself for decades that it doesn’t matter. But it bugs me.


Don’t insurance companies look at your credit rating to set rates? I have had in the back of my mind that we need to review our insurance costs because I get a feeling our umbrella insurance cost is high, but maybe we could go with DH’s credit rating which is always over 800.

[Teacher Terry]

I read that car insurance rates go up with age starting at 65.

[iris lilies]

I read that car insurance rates go up with age starting at 65.

they might do that, but I remember when we got a discount when we turned either 50 or 55, can’t remember exactly

[Teacher Terry]

Mine went up 30% this year for no reason on my end.

[early morning]

Ours went up this year, but I know why, and it wasn't my age... stupid speed trap! . Ours did not go up when Dh or I turned 65.

[beckyliz]

Alan, a big part of your credit score is just paying your bills on time. Also, not only your credit usage percentage, but how long you've had lines of credit open. That's why some folks keep credit cards open, if they don't hardly every use them.

[Yppej]

Planning a frugal vacation which will mainly involve free activities such as attending presidential campaign events and hiking.

The events are within an hour's radius and I am staying within 45 minutes of home with other things as part of my green initiative to vacation closer to home each year.