Sunday, September 11, 2016

How's your credit score?

Image: http://bestchoice-realtors.com/wp-content/uploads/2015/07/Credit_Scores_Pic.jpg

As my divorce was nearing, and I was applying for rentals, the realtor stated that divorce usually brings bad credit, but they'd do a background check, I was a long time community member with many ties to the community, she'd try to work with me, she was divorced herself. I told her that I had good credit.  Fast forward and when she called to tell me that I was approved for the rental, she made a point of commenting that yes, I DO have great credit!

I worked really hard all of my adult life but especially as I was untangling myself financially during the divorce process, to walk away with ongoing good if not great credit. I did have a 0% car loan, which I paid off about 1 year post divorce. I have consistently paid my bills on time, kept few CC's and those I have are long time accounts-both paid off in full, monthly. The only debt I have is medical debt, which I have made monthly payments on (usually double what I commited to initially)and will fully have that paid off come the end of Feb with retirement income looming.

Meanwhile, we live well below our means, comparable to what I anticipate "retirement" income living will be like. I hope to have a new position come Spring, but know that we can continue, at least for a year as is. Medical insurance is a major worry, hense the need for a full-time position with benefits. Ive also purused the Obama care aka state plans to get a sense of costs and coverage.

I checked my credit score, and am pleased that my scores, which vary by 10 points, remain just a few points below 800-very nice. I keep at it.

3 comments:

Jen Galey said...

I've recently started sending every additional dollar to student loan debt. Only have that and a mortgage. Credit score jumped from 832 to 843 this month! Don't know if it's possible but trying for 850.

Florence said...

Yes, it is absolutely necessary to keep your credit rating stellar!!

Linda said...

When I applied for a car loan at the dealership, I was refused because of credit score. This was in 2002. Student loans were the only thing on it! The guy said that actually I had one of the best records for paying bills he had seen and owed to only a few people/entities. He said he would give me the loan and knew I could and would pay it. It's all numbers now and computer decisions! I had never had trouble getting a car loan on my own until I went to this place.