Getting a Perfect Credit Score - Is it Worth It?
The following article covers a topic that has recently moved to center stage--at least it seems that way. If you've been thinking you need to know more about it, here's your opportunity.
There is some argument whether or not a perfect credit score is really needed. The idea is based on the fact of diminishing returns for improving your credit score once you are already considered having an excellent rating.
The diminished returns take the form of no better interest rate if you are any higher. This is based on the fact individuals are pool together by lenders and if you fall in a certain pools of scores you are entitles to the interest rate that everyone else gets in your class. The argument then becomes since you are in the top class of credit scores you will never get any better rate than what you already qualify for. A terrible problem, I know. Most American consumers would love to have this problem.
The profile of a person with perfect credit might tell you different. There is a certain sense of pride if you have a perfect credit score. You might not boast to your friends about it, but it is more a personal reward. They relish in the idea that they have perfect credit and have taken the right steps to show they are one of the top 3% of American consumers.
How does this differ from the normal mentality of consumers? Well, individuals that have perfect credit or on the road there will tell you it is more for self gratification than anything else. They rather not carry debt month to month compared to buying the latest fashion item. A complete reversal from the average consumer.
So in a monetary sense there really lacks the benefit of going from an 820 credit score to an 830, but it the reward is mental. If you were there, you would definitely be proud.
Hopefully the information presented so far has been applicable. You might also want to consider the following:
To read more about a credit score above 800 visit William's website. There you will find more information about how to raise a credit score.
Those who only know one or two facts about credit card tips can be confused by misleading information. The best way to help those who are misled is to gently correct them with the truths you're learning here.
There is some argument whether or not a perfect credit score is really needed. The idea is based on the fact of diminishing returns for improving your credit score once you are already considered having an excellent rating.
The diminished returns take the form of no better interest rate if you are any higher. This is based on the fact individuals are pool together by lenders and if you fall in a certain pools of scores you are entitles to the interest rate that everyone else gets in your class. The argument then becomes since you are in the top class of credit scores you will never get any better rate than what you already qualify for. A terrible problem, I know. Most American consumers would love to have this problem.
The profile of a person with perfect credit might tell you different. There is a certain sense of pride if you have a perfect credit score. You might not boast to your friends about it, but it is more a personal reward. They relish in the idea that they have perfect credit and have taken the right steps to show they are one of the top 3% of American consumers.
How does this differ from the normal mentality of consumers? Well, individuals that have perfect credit or on the road there will tell you it is more for self gratification than anything else. They rather not carry debt month to month compared to buying the latest fashion item. A complete reversal from the average consumer.
So in a monetary sense there really lacks the benefit of going from an 820 credit score to an 830, but it the reward is mental. If you were there, you would definitely be proud.
Hopefully the information presented so far has been applicable. You might also want to consider the following:
To read more about a credit score above 800 visit William's website. There you will find more information about how to raise a credit score.
Those who only know one or two facts about credit card tips can be confused by misleading information. The best way to help those who are misled is to gently correct them with the truths you're learning here.
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