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Thread: The balance between paying down debt and savings

  1. #191
    Simpleton Alan's Avatar
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    We put just about everything on credit cards and pay off the balances each month. Haven't paid a penny of CC interest in the past 25 years. Both our credit scores fluctuate between about 830 to 835, I believe that small shift depends upon how much we've spent that month.
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  2. #192
    Senior Member iris lilies's Avatar
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    I don’t get as high as 800 as I have previously complained about.

    But I watch my category go from the highest “excellent” to “very good” to once in a while “good.”
    That rating system is deranged.
    I am not a serious person.

  3. #193
    Senior Member rosarugosa's Avatar
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    We're in the same boat as Alan, and with the kitchen project, we will be building up some nice reward points. I belong to Credit Karma, and it's amusing to get their encouraging little notes along the lines of "Way to go, Rosa! You've paid off your big Visa balance," because I pay off all my balances every month. They also sometimes send me emails with helpful advice on paying off our loan. It's a deliberately held, zero-interest loan from our furnace installation of 2018, and of course we're in no hurry to pay it off.

  4. #194
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    I pay off our cc every month as well. Cash back, which I never seem to get around collecting, so there is a significant amount there. Need to do something with it... eventually.
    To give pleasure to a single heart by a single act is better than a thousand heads bowing in prayer." Mahatma Gandhi
    Be nice whenever possible. It's always possible. HH Dalai Lama
    In a world where you can be anything - be kind. Unknown

  5. #195
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    I generally pay it off every month but after years of doing that I paid late last month (I think I got real confused about when bills were due because it was one of those 3 paychecks a month months, not the typical 2 paychecks).

    I don’t get as high as 800 as I have previously complained about.
    But I watch my category go from the highest “excellent” to “very good” to once in a while “good.”
    That rating system is deranged.
    I don't get as high as 800, but for that you need REAL DEBT, like to have ever had a car loan, a mortgage, maybe student loans (I think my partners score is higher for that, for student loans he is still paying a couple decades after going to school for a grad degree he doesn't use). And nope, I rent and paid cash for cars. I think if fluctuates some for opening up new credit cards/store cards or closing them and I'm not going to worry about that.
    Trees don't grow on money

  6. #196
    Senior Member Tradd's Avatar
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    Quote Originally Posted by ApatheticNoMore View Post
    I generally pay it off every month but after years of doing that I paid late last month (I think I got real confused about when bills were due because it was one of those 3 paychecks a month months, not the typical 2 paychecks).



    I don't get as high as 800, but for that you need REAL DEBT, like to have ever had a car loan, a mortgage, maybe student loans (I think my partners score is higher for that, a couple decades after going to school for a grad degree he doesn't use). And nope, I rent and paid cash for cars. I think if fluctuates some for opening up new credit cards/store cards or closing them and I'm not going to worry about that.
    When I've pulled my free credit reports, it always says to increase my score, I should get a mortgage. That ain't likely to happen!

  7. #197
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    Quote Originally Posted by Tradd View Post
    When I've pulled my free credit reports, it always says to increase my score, I should get a mortgage. That ain't likely to happen!
    Sometimes some things just don't make sense to me and this is one of those things. I don't understand going into debt to increase a credit score.
    To give pleasure to a single heart by a single act is better than a thousand heads bowing in prayer." Mahatma Gandhi
    Be nice whenever possible. It's always possible. HH Dalai Lama
    In a world where you can be anything - be kind. Unknown

  8. #198
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    1993 was the last time we had a "real" mortgage. We had a short term loan in 1999 to cover some time on a new house but that is all. Cannot remember financing anything since then. I guess our rating is high due to large CC limits and regular use and payment. But this required several decades of spending much less than earnings and appropriate use of balance. Much harder today.

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