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Reply to "Anyone else not have any credit cards & why does it hurt my FICO score?"
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[quote=Anonymous]Oh boy. I am concerned about how little you know about credit and credit cards. - You only pay interest if you don't pay in full (always pay in full). - There are dozens and maybe hundreds of cards with no annual fee (for the record, I once swore I'd never pay an annual fee and I laugh at that now bc I have several that I'm happy to pay an annual fee for) - You're missing out on tons of rewards but, hey, whatever works for you. And finally, you should know that once you go above a certain amount - around 760 I think - it doesn't matter in the slightest what the score is. For example, if you need a certain score to qualify for the best interest rate, the person with a 780 is getting the same rate as the person with 840. In other words, there is no benefit - none - to getting it above 800 or 820 or whatever. Credit doesn't quite work the way a lot of people assume. It's worth learning more about.[/quote]
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