Thread: How's your credit?
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Old 10-23-2005, 10:17 PM   #15
teedubya teedubya is offline
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Quote:
Originally Posted by DTLB58
Good FICO score = Debt! Who needs it.

Your credit FICO score ranges from 300-850 it is based on your payment history 35%, How much you owe 30% The length of your credit history 15% The type of credit you use 10% and applying for new credit 10% is based on that.

Instead of working on your credit sscore till you need a car loan, why don't you save up and pay cash for the car instead?

The average car payment in America is $378 over 63 months (source: USA Today) If instead you pay cash for your vehicles and slowly move up in car over time you will be far ahead of the finacial game and have a lot more money than your broke friends who tie up their money paying payments most of their adult life.

Remember, "The borrower is slave to the lender" Go here www.daveramsey.com to change your financial future.

ah yes... thanks for getting him started!
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