Quote:
Originally Posted by Tsar
As far as "paying stuff off ever time" vs "paying off everything at once", well if you actually look at the credit report, it will not say whether or not you were paying stuff off at once/over time. It will simply indicate if your account is in a good standing/ and how long it has been in good standing, in addition to if you have been late, and if your account is in collections.
I know I have never paid anything over time, it's stupid and costs extra money. However, my FICO score is close to 800, which is pretty damn good. It's all about ones ability to maintain their account in a good standing, and their debt to available credit ratio. Pretty easy stuff.
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While I agree to a point, a good score isn't everything. You need to have a solid history behind you as well.
My brother bought a truck back in the spring of '07. He expected a nice low APR on his loan since his credit score was in the mid-upper 700s. The best rate he could find on the truck was ~18%, because he had no real credit history.
- Justin