Comments on: How Your FICO Score Impacts Your Life

By: Guaranteed Credit Cards Now » Blog Archive » Carnival of Debt Reduction – The Federal Debt and Deficit Problem Issue

Mon, 03 Aug 2009 21:31:38 +0000

[...] a perceived “safest asset” perception ensures we can borrow at low rates (just like how your fico score can also impact your borrowing cost). On a personal level, your credit score can also affect your [...]

By: Carnival of Debt Reduction – The Federal Debt and Deficit Problem Issue

Carnival of Debt Reduction – The Federal Debt and Deficit Problem Issue — Mon, 03 Aug 2009 11:55:13 +0000

[...] Reason is probably because our federal debt is rated triple A by Moodys and S&P and Fitch (although they did rate a lot of sub prime mortgage CDOs triple A at one stage too). The US government is perceived to the the safe investment in the world with the least risk of default. An emerging country may have its debt rated triple B and it will command a risk premium over US treasuries. In the 1800s when the US was an emerging economy, there were periods when our debt was trading at 6% (low yield for an emerging economy) but was 3% higher than the then “safer British debt”. Hence, a triple A rating from the rating agencies plus a perceived “safest asset” perception ensures we can borrow at low rates (just like how your fico score can also impact your borrowing cost). [...]

By: CardMaster

CardMaster — Thu, 30 Jul 2009 13:34:21 +0000

I knew I shouldn’t have made that pact…

By: J. Money

J. Money — Thu, 30 Jul 2009 13:16:48 +0000

Totally random here, but your feedcounter is currently showing 666. Freaky! Hurry, someone else subscribe ;)

By: Jessie

Jessie — Wed, 29 Jul 2009 02:10:39 +0000

I really like this website. Fortunately, it’s easier than people think to make that move to see exactly what’s going on with their FICO.
Fear of not knowing my FICO is what got me motivated. Once I had an extensive look at all my outstanding debt it was:
1. Not as bad as I thought.
2. It wasn’t that good either.

But now I know what’s out there and I can do damage control. I have now organized my outstanding debts and fortunately I have a job with a constant salary each week. So while I have a job, I am trying to pay off my debt ASAP. To do this I have doubled up on payments towards 2 of my major creditors. I have few smaller debts that are on target to be paid in full by year’s end. I have set up a separate bank account just for bills. Finally, to make sure bills are paid on time, I make payments each week. Since I do not make much money each week, I find it’s easier to get all the bills out of the way. I’ve only done it 2 months in a row so far. I am diligent in reviewing my statements. I have been making sure the overpayments are applied to the principal amount as agreed with my debtors. But ultimately, I agree with Rachael, I’ve gotten a little “OCD” about analyzing and reviewing my bills. I question alot if I can pay more each month towards the debt. Sometimes I have to let go, unfortunately, this won’t be a quick fix…..good luck all.

knowing is half the battle.

By: FFB

FFB — Tue, 28 Jul 2009 15:38:39 +0000

At times it could seem unfair to judge people by their credit score but I can see why it’s done. Companies want to do as much as they can to limit any liability or at least judge the risk they are taking on. More and more and more your FICO score will become one of the most important numbers you have.