At What Price a Perfect Credit Score?
If you doubt that the perfect is the enemy of the good, just try spending time with perfectionists. They are drop dead gorgeous, but they constantly fret about their looks. They can’t enjoy their food, because they are always thinking about how it could be tastier, more nutritious, or more aesthetically pleasing. People who achieve a claim to perfection in any domain are constantly worried about losing their title, or else they worry that others will also achieve it, making their perfection less special. The quest for a credit score of 850, the highest credit score you can get, is a form of perfectionism. The only thing you get with a credit score of 850 that you don’t get with one that is slightly lower is the bragging rights. If your credit score is abysmal, you do not have to raise it to 850 to reach your creditworthiness goals, but if you are serious about improving your credit score after a series of financial setbacks, you should probably contact a Philadelphia debt relief lawyer.
How Does Anyone Get a Credit Score of 850?
Your credit score reflects your record of borrowing money and repaying it. It counts in your favor if you always make payments on time and, on revolving loans like credit cards and lines of credit, you use only a small fraction of the credit that the lender has made available to you. It is also best if you have at least one fixed term loan, such as an auto loan or home mortgage, and at least one revolving loan, such as a credit card. The people with the best credit scores have a long history of buying things on credit, with no financial setbacks severe enough to make them miss payments. In other words, the best way to get an awesome credit score is to live a charmed life.
Good luck will give you a robust credit score, but it will not give you a credit score of 850. To achieve a perfect score, you must do all of the above, plus borrowing and repaying strategically to increase your creditworthiness.
Achieving a Good Enough Credit Score and Living With It
If a perfect credit score is hundreds of points away, do not despair; you don’t need one. Anything above 700 is enough to qualify for the most desirable loans, such as home mortgages and affordable card loans and personal loans. Focus on what you want to buy on credit and base your credit score goals on that. A small improvement in your credit score can improve your overall financial situation, such as by enabling you to get an unsecured credit card instead of a secured one. If money cannot buy happiness, an impressive credit score certainly cannot.
Contact CONSUMERLAWPA.com About Debt Collection Lawsuits
A Philadelphia consumer law attorney can help you if you are unable to borrow money, or can only borrow small amounts at high interest rates, because of your low credit score. Contact CONSUMERLAWPA.com to set up a free, confidential consultation.
Source:
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