Quote:
Originally Posted by jIM_Ohio
Why do you need a high credit score?
Being out of debt and staying out of debt is more important than a high credit score.
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Unfortunately credit scores are being used for way more than just getting loans these days. They're used as a proxy for all kinds of purposes -- getting a job, getting insurance, etc. Also I would say that not all debts are created equal. Debt that increases your future net worth is a good thing (mortgage, student loan, etc.). Debt that is used for consumption, on the other hand, is not so good.