I didn’t realize so many people would really take an 800 credit score over $100,000

[Crude]

Depends on what you need.

If you buying property and mortgaging ish credit is most certainly important.

 

[CouldntBeMeTho]

I'll take the 800 credit score and use it to pay for that dinner with Jay-Z

 

[Chris Cool]

You can literally use a small portion of the 100k and get the 800 credit score.

 

[B86]

This isn’t true. I’ve been sitting at 800+ for 4+ years and pay my statement in full every month. The card reports a balance to the credit bureau once a month, usually in the middle. If you’re paying off your card every 30 days the card is still reporting that balance within that time period and you’re not paying interest.

Ok...I'll ignore the information from the credit courses I've taken

 

[Higher Tech]

I’ll just use an example I work also. But with that 800 credit score if you had a good business idea and set up a business properly you could take that idea and get funding either in the form of a business loan or credit card and start something with. Just by being a PG.

But that’s if you wanted to do that type of thing. Not saying you will get rich but if it’s something you like doing even if you want to flip houses or cars or sell electronics.

You don’t need an 800 credit score to do that. Anything you can do with 800, you can do with 700.

 

[Stuntone]

my credit score is 836, no lie.

Its not really doing anything for me right now. I have a 35k credit with a +200 balance. My vehicles are almost paid off. I'm not trying to buy a overpriced house right now or finance anything. It's almost useless.

 

[Wildhundreds]

A credit score does nothing but show you're a responsible person.. That takes time..

And FYI, you can pay someone to make your score increase..

I see why this new generation of people can't accomplish shyt.

 

[NatiboyB]

You don’t need an 800 credit score to do that. Anything you can do with 800, you can do with 700.

mill agree to an extent. But it does help but you are right once over 740 it’s not that big of a deal

 

[Bigb41513]

I have a 800 credit score. It’s good to have if you buying something. With that said I’m taking the 100 bands quick and fast lol.

 

[GoldenGlove]

How bad is their credit to be so thirsty for an 800 credit score?

What kind of loans/businesses they plan on taking out and starting?

 

[GoldenGlove]

Lolol.


Have a 800 credit score with a 40K income and go into a Maserati dealership and ask them for a Quattroporte

Exactly how I'm processing it. Either I'm missing something, or what, because reading some of these comments, it's like people don't understand they have to pay the credit down or something

 

[invincible1914]

I’d take an 800 over 100K….

but if I didn’t have anything I’d take the 100K


im around 730ish with an 800 I’d quickly PG my way into some better business accounts

What can you do with the credit score that you can't do with 100K?

Is an 800 credit score really some unobtainable goal? My wife has an 800 credit score... I'm about to go ask here and see what she says... I'll be back

 

[UberEatsDriver]

Exactly how I'm processing it. Either I'm missing something, or what, because reading some of these comments, it's like people don't understand they have to pay the credit down or something

Credit is just trust. They also need to know you can legit afford the item as well lol


Those post are funny lol

 

[Red11]

You don’t need an 800 credit score to do that. Anything you can do with 800, you can do with 700.

Exactly...

On a 30-year, $200,000 mortgage with a FICO credit score between 700 and 759, one could expect to receive a 2.56% interest rate. But a person with a credit score between 660 and 679 could end up paying an additional $14,914 — 677 is the average credit score for African Americans compared to white Americans at 734.

15,000 over 30 YEARS is worth 100k? The math ain't mathing!

 

[T’Challa’s Heir]

Ok...I'll ignore the information from the credit courses I've taken

You got ripped off if the credit course told you to leave a balance on a card month to month.

A lot of people misinterpret the how reporting actually works. If you’re using your card all through the month, at some point the card will report whatever the balance is to the credit bureau. Whatever the balance is on that day would be your balance for the month. So your use of the card is still showing up on the report. That balance still gets reported even if you pay the card off the next day. Which is how you build credit and avoid paying interest.

A lot of people confuse this advice with randomly carrying a balance and paying interest on it.

To put this into an example. I use a Chase Card got all my purchases. We’ll say I spend about $1600/month on my card or $400/week. We’ll say my bill is due on the 1st and the reporting date/statement date is the 15th. We get to the 1st and I pay all $1600. I continue using it and by the 15th, I’ve put 800 on the card. So my bill for the month so far is $800. Chase sends a report to the credit bureaus saying I’ve spent $800 on the card. I continue using the card as normal and pay it off on the 1st like normal. My credit report still shows I put $800 on the card for this month even though I paid the whole bill on the first of the next month.