The trap with building a FICO Score

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[christinebuckingham]

We use our cc for everyday expenses and pay them off every month before we pay any interest on it.
We have very high fico scores.
Any large purchases are paid on the card only if we can pay it off by the end of the month.
It's called being responsible with your spending.

[JCKingdom]

Part of the reason that I am not a car salesman is that I can not milk people out of what they can afford. Or lie.

[joshthorsell]

I pay cash for everything... If I don't have enough for what I want, I don't buy it... Haven't used me credit in a long time...

[Cyberjin_fun]

I use the credit card for everyday expensice and pay it off before interest is applied. Many if not every store in america already put credit transactions fees into the price of their product. So to safe money, I take advantage of the cashback and perks that are on those credit cards....

[gibblespascack]

You don't need a bank loan or a CC to build a Fico score. You need to have an electrical bill, Phone bill, insurance policy etc. These things demonstrate that you are responsible to pay your bills.

[QuadiMoto]

You can actually build credit by NOT using the credit available to you. It’s called your utilization rate. At least for credit cards.

[jjjjjaaaatvuj]

Hey what episode is this from? I wanta watch the full clip

[Daveandconfused.]

You don’t need to go into debt to build your score

[Endeavor]

Credit is the best thing ever invented! Including the fake dollar😂!

[HRCISASKNK]

Wrong you can get a credit card use it sparingly and pay it off right after you use it or pay on it each time you use it to keep the balance at zero and you still build credit without going into debt.

[Kate-bidh]

So you can get a job that checks your credit (like in finance and accounting), so you can rent a car, etc

[michaelprivitera]

Dogs don't know it's not bacon

[chuckstemm]

I’ve been debt free for two years yet my FICO keeps going up! Anyone know why that is? 🤔

[kyloren]

It's debt but pay it back in full so don't have to pay interest. The end!

[bekind]

You don’t need a score but it is pretty practical to use the credit card - and their is even cash back or miles.

[bekind]

I never attended a twelve step group, but he sounds as if he leads a couple of them.

[paulfain]

I don’t know anyone who makes 100, 000 a year except the man I’m working for. I wouldn’t know how to act

[Daveandconfused.]

I put my sons as authorized users on my credit card, never gave them the cards let alone told them, once my son turned 18 he already had a 735

[therealnicksmith]

If you are disciplined enough to never out spend your ability to pay off the card. You can reap its benefits for free with some cards. How many of us Americans are disciplined enough to handle that?

[JoeyBarb]

Does Ramsay have a car or a house, because last I checked, you needed a relatively strong FICO.