Comments on: Are You Selling Your Credit Score?

By: shiying

shiying — Thu, 08 Oct 2009 01:31:32 +0000

I like the post, and I agree somewhat with, To be very truthful.

By: Pinyo

Pinyo — Fri, 21 Mar 2008 15:23:01 +0000

@Plonkee – Does credit score works the same way in England? How’s the mortgage rate now? I am just curious about your timeframe.

@Patrick – I don’t think I ever signed up for a T-Shirt. I think $100 may be worthwhile — depending on your situation.

@My Dollar Plan – I don’t know how you do it with all your credit cards, but you must have really strong credit history, or a family member in each of the credit agencies

@Aaron – True to a degree — more and more companies are using this as a guage — i.e., if you switch job, trying to get better insurance rate, etc.

Although I do agree that trading it for rewards might be the best option for some people.

@List – That’s great about paying off in full every month. I don’t know if I would turn down $250 either.

By: Lisa

Lisa — Fri, 21 Mar 2008 12:27:31 +0000

I pay my credit cards off fully every month. It’s the only way to go.

I’ve also made $250 this year on credit card sign up bonuses. I suppose I should feel guilty. Nah! Those credit card companies often use misleading advertising and gimmicks to take advantage of unsuspecting people. Good to get them back!

Lisa

By: Know The Ledge

Know The Ledge — Fri, 21 Mar 2008 03:16:46 +0000

Reading about selling your credit for a t-shirt brings back some bad memories of getting my first credit card in college for a cheap screen printed beefy T. Oh man, I’ve come a long way.

By: Mrs. Micah

Mrs. Micah — Thu, 20 Mar 2008 23:29:58 +0000

The power of the score is, as Aaron says, the power to borrow (or do a few other things) so at some point you might as well redeem those points. No one will care what it is when you’re dead.

But you’re quite right that since it’s a valuable currency we should be careful what we actually spend it on.

By: My Dollar Plan

My Dollar Plan — Thu, 20 Mar 2008 17:35:17 +0000

I’m very careful about our credit score, even with the huge credit card arbitrage. It takes a hit the first month, but other than that, it remains strong.

By: Patrick

Patrick — Thu, 20 Mar 2008 16:52:18 +0000

I got a few t-shirts in college, but I was responsible with the cards. Now, I investigate the cards and if the card is good and there is a $100 bonus or so, then I will think about it. But I don’t do it often.

By: Aaron Stroud

Aaron Stroud — Thu, 20 Mar 2008 15:44:02 +0000

There comes a point when all your credit score is good for is trading it for rewards .

Of course, a decent score is important to insurance. But beyond that, it’s not good for much if you won’t be borrowing money again.

By: plonkee

plonkee — Thu, 20 Mar 2008 10:52:57 +0000

I am willing to trade my credit score for rewards. Previously I have bagged 11500 Sony points – enough for an MP3 player or 11 cds – and a £15 Amazon voucher. Not amazing rewards, but not bad since I have a good credit score anyway. I’m planning to remortgage my house in about a years time, so I need to be careful what I do now.