Best Place to Get Credit Report

[feh]

Why did someone with high income and no debt need a car loan?

I could see wanting to do that, if the auto loan had a lower rate than what you could earn with another investment.

Especially when really low rates are offered, sometimes 0%.

[disneysteve]

I could see wanting to do that, if the auto loan had a lower rate than what you could earn with another investment.

Especially when really low rates are offered, sometimes 0%.

I know. I was just being difficult.

However, sometimes the dealers are really out of hand. My brother-in-law went to buy a car and planned to pay cash. The dealer still insisted on pulling a credit report. He refused and went elsewhere to buy the car. Why do you need a credit report when there is no credit involved in the transaction?

Last time we bought a car, also for cash, they did pull our credit just so we could drive the car off the lot that day even though we hadn't yet paid for it (we were waiting for an insurance check). When the salesman came back, he joked and asked if we were sure we didn't want 2 or 3 cars since our credit was so good (both of our scores are over 800). He said he almost never sees that.

[PetMom]

DisneySteve if you don't mind sharing did you have a strategy to get such high scores?

A deliberate debt taken on and paid?

Isn't the report wiped clean every 7 years that reflect those who had paid off their home in full years earlier.

I also agree the score just reflects how you handle or don't handle debt.

But to go in debt to raise the score (as I have read about some people doing) sounds drastic.

And congratulations on such a high score!

[disneysteve]

DisneySteve if you don't mind sharing did you have a strategy to get such high scores?

I certainly never took on any debt intentionally just to raise my score. That would be nuts.

We've just handled what debt we have had over the years very responsibly. Car loans, student loans, home equity loan, mortgage. At this point, all that is left is the mortgage and we're prepaying that. I'm curious what will happen to our scores when we are completely debt free.

[photo]

My brother-in-law went to buy a car and planned to pay cash. The dealer still insisted on pulling a credit report. He refused and went elsewhere to buy the car.

They asked him if they could pull a credit report?