credit card changes....is this for real?

**sinopa27** · 03-17-2010, 08:33 AM

What do you think about this article??

new-rules-for-credit-score: Personal Finance News from Yahoo! Finance

**Greebo** · 03-17-2010, 11:02 AM

I think making "having a good credit score" a priority over "having good finances" is dumb.

I think a credit score is an "I love debt" score - the only way to get a good score is to borrow lots of money and pay lots of interest on the money so that you can later borrow more money.

I think using credit scores (as opposed to actual negative credit items like BK etc) to penalize people for things like insurance rates is stupid.

Overall I don't worry about my credit score anymore. I borrow money for mortgages and nothing else - and even that's about to stop.

**ladykemma2** · 03-17-2010, 11:20 AM

wow, just wow. goes against everything i know.

**krbshappy71** · 03-17-2010, 11:21 AM

Thanks to this site, Greebo, and my latest brainwashing of Dave Ramsey I whole heartedly agree with Greebo's post. I AM DONE WITH THE CREDIT MERRY GO ROUND. I'm paying my debts off and kissing this stupid stuff goodbye. If my cash isn't good enough then I didn't need it anyhow.

That being said, very interesting article as I definitely used to participate in some of the "don't do this anymore" behaviors. But now I'm done with caring, I am done with credit in my life, I can't live like this anymore worrying about that stupid number.

**Luv2BeFrugal** · 03-17-2010, 02:46 PM

Wow. How can that be correct? That just seems like an article of stupid advice! What is wrong with our system that those would be "good" choices?

I just want to be DONE with debt, CC's, etc. Still working on it all...but, at least making progress.

GOT to get away from the insanity of it all!!! (shakes head)

**jettsmom** · 03-17-2010, 02:50 PM

I don't care about my credit score anymore. I closed two cc accounts last year. They were raising the interest rates and tripling minimum payments. We were barely getting by with the minimum and there was no way we could do a triple payment. So they closed the accounts. One is now paid off and we're working on the other one.

We really don't care about credit anymore. We carry no credit cards. When we buy online, we use paypal or we will on occasion use a cc, but immediately transfer the money to pay the card.

We're done with credit, except for a home. We buy used cars and pay cash for them.

**JanieD** · 03-17-2010, 03:50 PM

Well, I'm anti-credit card for the most part. I do have one, but use it very little. I have wondered if I should get a back up in case they decide to close my account since I'd like to have one (its a convenience... I could manage without it). Sometimes, I think I should be a little considered about my credit score... like when I read these types of articles. However, I think its crazy how credit scores "work" & prefer not to play their game. Usually I just keep paying cash & forget about it for the most part. Not sure it's the smart thing to do.

**Imarachne** · 03-17-2010, 07:05 PM

I agree--credit only gets you in trouble.

**ncarr** · 03-17-2010, 09:11 PM

I can't believe they are giving ludicrous advice like that! "Don't pay off you're card" "max out your card" "open more cards." Did Visa write this article or what?

**Missourimom** · 03-18-2010, 12:34 AM

Within the last 2 weeks, my husband and I paid off $50,000 in personal and business debt from my grandmother's trust. This does not include the mortgage. After we paid the cards off, we closed EVERY account. Yes, closing the accounts will hurt us but we don't care anymore. We are so grateful to be out of debt and we never want to be under it again. I agree, if our cash isn't good enough, then we don't need it.

**Denvergirlie** · 03-18-2010, 12:15 PM

How odd, I found this recently to not be true.

I haven't carried a credit card balance in years, but do use my card from time to time for the only purpose of using the card so it will remain active.

In Jan & Feb, we moved and I put about $3K in charges on my Discover, my use even triggered a call from the credit fraud department, but they were legit charges.

Anyways, I paid the card off a few weeks back, and checked my credit score by chance on Tuesday. I went from 0 utilization, to about 20% utilization and my credit score dropped 12 points over the past month.

So by using the card, my score dropped.

All that being said, I really could care less about the score all in all. I will only use that score for a future mortage if anything.