Comments on: What is a Credit Score? (And Why You Should Care)

By: The Financial Value of HonestyShoeaholic No More

The Financial Value of HonestyShoeaholic No More — Wed, 18 Nov 2015 16:38:44 +0000

[…] reasoning that keeping the lines open can help your credit utilization, which is a big factor in determining your credit score, but also because I was using the cards themselves as a security blanket. (Clearly the first reason […]

By: Which Debt Should You Pay Off First? - Red Debted Stepchild

Which Debt Should You Pay Off First? - Red Debted Stepchild — Tue, 22 Sep 2015 11:04:55 +0000

[…] sucks up your money, causes stress and can hurt things like your credit score. The worst! I know you want to pay off all your debt ASAP. When you have different kinds of debt […]

By: Credit Cards Cutting Back on Benefits

Credit Cards Cutting Back on Benefits — Mon, 21 Sep 2015 11:10:01 +0000

[…] perks for their credit cards. For example, FIA Card Services, a unit of Bank of America that issues credit cards for Fidelity Investments, is expanding its “extended warranty” benefit on certain […]

By: My 2014 Bonus and What's Going On? - Shoeaholicnomore

My 2014 Bonus and What's Going On? - Shoeaholicnomore — Fri, 06 Feb 2015 15:49:09 +0000

[…] What is a Credit Score? (And Why You Should Care) – Add Vodka […]

By: Kayla

Kayla — Tue, 03 Feb 2015 18:37:01 +0000

In reply to Reece. Yes, I didn't fully realize how important my credit score was either until I was applying for my mortgage back in 2012. Turns out it matters a lot more than you might think.

By: Reece

Reece — Tue, 03 Feb 2015 17:52:53 +0000

Last year, whilst trying to buy a house (I’ve now bought it, despite all the drama involved!) I realised just how important a credit score is.
I didn’t have a bad score, but it wasn’t great. My mortgage broker applied for mortgages that were designed for much better credit scores, I was declined, and my score went downhill rapidly. I had to rebuild my credit score quickly.
It turns out that it’s really important to have all of your accounts registered to your one voting address (in the UK, anyway)- and once I sorted that out, my score improved by 10% in a few days. That made all the difference, and I got accepted for a mortgage. Since then I’ve kept a much closer eye on my personal finances, and my credit score. You live and learn!

By: Kayla

Kayla — Mon, 02 Feb 2015 22:05:01 +0000

In reply to Steph @ BTB. I'm glad you found it useful!

By: Steph @ BTB

Steph @ BTB — Sat, 31 Jan 2015 21:04:27 +0000

I’m working on saving for a down payment for my first home now. I always thought I was great with my credit cards (I always pay my balance in full, never missed a payment, and I’ve never had any debt) but I’d never been told that part of your score was how much of your credit you were using.

Now I’m shaping up to make sure I’m only using 15-20% of my available credit.

There’s so much great info in this post I’ll definitely be bookmarking it for the future! Thanks!

By: Kayla

Kayla — Fri, 30 Jan 2015 17:02:48 +0000

In reply to Petrish. I knew about credit scores, but proceeded to destroy mine anyhow. Now I've learned my lesson and am working to build it back up.

By: Petrish

Petrish — Thu, 29 Jan 2015 17:11:02 +0000

I agree that credit scores are important, and I was no aware of that when I started using credit cards in college. It wasn’t until I left college with a low budget busted score that I learned about how important good credit was. I don’t hate credit cards, and only have one, and your right the key is to be responsible with the credit entrusted to you.