Buyer beware
I went to Mike Thompson's RV in Colton, Ca. to buy a new Travel Trailer. I had spoken with a person that I was told was a manager two weeks ago, and explained my complete sitution, money, trade-in, d...
Forum Discussion
Hubby and I have near-perfect credit scores (824 & 832 out of 840, respectively, and have for years. When we refinanced our house a few years ago, our mortgage lender recommended we cut back our credit limits to decrease our liability. It's dependent upon your credit to debt ratio.
According to Dave Ramsey, my financial advisor, several things are certain, high credit scores are a sign of being in debt for a long time, and on keeping it around. At least that is how it is read by the scoring agencies. High credit scores are an indication that there is debt, including revolving debt, and payments are made on-time. That's all it means. It does not mean that you have a great net worth, nor does it mean that you will pay what you owe. All it means is that you are making your monthly payments, and that you are a good candidate to acquire even more debt.
The place you want to be is debt free. That way, you don't have to borrow money for things you don't have the money to pay cash for. Then, it doesn't matter what your credit score is, or if you even have one. Dave Ramsey paid cash for his $5 Million dollar new home, and his credit score is zero. He is worth approx. $50 Million dollars, employs 400 hundred people, and has a paid for office building worth $15 Million give or take. Think about that one. He does not borrow money, nor does he have a credit card.
According to Dave Ramsey, my financial advisor, several things are certain, high credit scores are a sign of being in debt for a long time, and on keeping it around. At least that is how it is read by the scoring agencies. High credit scores are an indication that there is debt, including revolving debt, and payments are made on-time. That's all it means. It does not mean that you have a great net worth, nor does it mean that you will pay what you owe. All it means is that you are making your monthly payments, and that you are a good candidate to acquire even more debt.
The place you want to be is debt free. That way, you don't have to borrow money for things you don't have the money to pay cash for. Then, it doesn't matter what your credit score is, or if you even have one. Dave Ramsey paid cash for his $5 Million dollar new home, and his credit score is zero. He is worth approx. $50 Million dollars, employs 400 hundred people, and has a paid for office building worth $15 Million give or take. Think about that one. He does not borrow money, nor does he have a credit card.
