Do you need a credit score?

[BlackLight]

So just reading through all this - if one is debt free and looking to maintain a high credit score (or build up a lackluster one), would a credit card, charging infrequently, but always paid on time, be the best method of achieving that?

Here's something I just thought of - On my checking account at my credit union, for overdraft protection, I have a credit line. Would borrowing against that periodically (whether or not I actually need the $$) and then paying it back on time be a way to build/maintain credit?

[Outdoorsygal]

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[disneysteve]

So just reading through all this - if one is debt free and looking to maintain a high credit score (or build up a lackluster one), would a credit card, charging infrequently, but always paid on time, be the best method of achieving that?

I think regular and responsible use of a credit card is definitely beneficial to your credit score. Charge stuff that you would be buying/paying anyway. Many regular monthly bills can be paid by credit card. We pay our house phone, cell phone, alarm fee, cable bill, auto insurance, and more by credit card. Most of them are set up to charge to the credit card automatically. It's so much easier that way and also makes it much easier to track spending since everything is in one place.

Just be sure to pay the bill in full every month on time. If you can't afford something, don't charge it.

[Captain Save]

What is the point of the message?

At the end of the day that's what really matters. Is he trying to discourage folks from opening credit card line just for the sake of having a good credit score?

I'm of the belief that if you want to have good credit. It's fairly easy to make that happen if you have "little or no credit" ... Would it be better if you had good credit.. yes but most folks are not disciplined enough so I say don't do it until you know you have something on the horizon that you will need it for.

However for the folks on the this forum who are most likely disciplined, you should probably take advantage of the perks.