If you don't plan on making any major purchases, it's OK not to play the credit score game.

Anonymous wrote:

Anonymous wrote:Do you want to buy a car? Lease a car? Have a utility account? Take out a loan of any kind? Get a job where they may check your credit score?

Of course it's to your advantage to have a good score. 662 is not good. It's not awful, but it's not good. If you can afford $50 a few times in interest, FFS, just do it.

You asked if it's worth it to raise your score.
We told you it is.
So.

But the answer is no to all your questions. I'm not aiming to buy a car. I live in a city. I'll never be able to buy a house - not even a one bedroom condo. I'm just trying to find a reason WHY it would be important for me to raise it. That's all.

Do you have enough savings that you can handle large medical debt in cash? If not, the bill goes somewhere and collects interest. Better credit means lower interest.

Anonymous wrote:I have no debt and one debit card. I own no property or cars and have no plans to. Is there any reason I should try to get my credit score higher or I should try to get a credit card?

My credit score monitor says I'm dinged on credit because I don't own property.

Anonymous wrote:I have no debt and one debit card. I own no property or cars and have no plans to. Is there any reason I should try to get my credit score higher or I should try to get a credit card?

There are plenty of benefits of having a higher score. Buying a house or a car are not the only ones. I don't know a benefit of having a low score.
Credit card should help you get the score higher. They kind of go hand in hand and are not 2 separate things you have to do.
Credit score calculate length of credit also. Not sure why you are wasting time.
Better to have it and not need it, than not have it and need it.
You have a debit card. Why not use cash at all times or still write checks?!

Your credit score is on the lower side from lack of credit and credit history. I would open a credit card to give you a line of credit and start building credit history. After 6 months of good payment history your score should go up to atleast 700. If you ever want to buy a house, your score will need to be atleast 750 to get the best rates.

Anonymous wrote:

Anonymous wrote:Do you want to buy a car? Lease a car? Have a utility account? Take out a loan of any kind? Get a job where they may check your credit score?

Of course it's to your advantage to have a good score. 662 is not good. It's not awful, but it's not good. If you can afford $50 a few times in interest, FFS, just do it.

You asked if it's worth it to raise your score.
We told you it is.
So.

But the answer is no to all your questions. I'm not aiming to buy a car. I live in a city. I'll never be able to buy a house - not even a one bedroom condo. I'm just trying to find a reason WHY it would be important for me to raise it. That's all.

People have told you why. Employers run credit checks. Landlords run credit checks. Many other services offer discounts for good credit. Being able to borrow money puts you in a better position than not being able to borrow money when things are tight. That's why.

^^$800 each year

We fell on hard times economically a few years ago. Having great credit was hugely helpful. Despite our low income, I started taking advantage of the incentives offered to open a new card. This meant several hundred dollars a year, especially thanks to Discover Cash Back Matching. The first year, I got one in my name, the second year, in my husband’s name. We got approximately $800 in cash back, which I used to buy our family clothes. Other cards and checking accounts gave us $200-400 to open a new account. Timing that with Black Friday sales meant being able to replace our 1st generation iPad.

In short, there are many ways that having good credit helps. Perks you don’t know about unless you already have it.

Just always be sure you pay it off regularly.

Are you young? You need to have a history of credit that you paid off to have a good score. Paying off a student loan, car loan, and mortgage consistently give big boosts. Credit cards are revolving debt and can harm your score a lot more than a loan. But having a credit card can helo too. You basically don't have street cred showing that you can take out debt and pay it off. It's kinda a sick system, l will agree.....but that's the way it works.

Landlords often do credit checks. I don't know what the standards are for large buildings, but I think that many small landlords would expect to see at least a little bit of credit history.

Anonymous wrote:

Anonymous wrote:Do you want to buy a car? Lease a car? Have a utility account? Take out a loan of any kind? Get a job where they may check your credit score?

Of course it's to your advantage to have a good score. 662 is not good. It's not awful, but it's not good. If you can afford $50 a few times in interest, FFS, just do it.

You asked if it's worth it to raise your score.
We told you it is.
So.

But the answer is no to all your questions. I'm not aiming to buy a car. I live in a city. I'll never be able to buy a house - not even a one bedroom condo. I'm just trying to find a reason WHY it would be important for me to raise it. That's all.

Okay, so stick with your current approach. Sounds like you are low income and credit cards may not be a good idea for you.

Anonymous wrote:Do you want to buy a car? Lease a car? Have a utility account? Take out a loan of any kind? Get a job where they may check your credit score?

Of course it's to your advantage to have a good score. 662 is not good. It's not awful, but it's not good. If you can afford $50 a few times in interest, FFS, just do it.

You asked if it's worth it to raise your score.
We told you it is.
So.

But the answer is no to all your questions. I'm not aiming to buy a car. I live in a city. I'll never be able to buy a house - not even a one bedroom condo. I'm just trying to find a reason WHY it would be important for me to raise it. That's all.

Do you want to buy a car? Lease a car? Have a utility account? Take out a loan of any kind? Get a job where they may check your credit score?

Of course it's to your advantage to have a good score. 662 is not good. It's not awful, but it's not good. If you can afford $50 a few times in interest, FFS, just do it.

You asked if it's worth it to raise your score.
We told you it is.
So.

Your score is 662. Ok, what is the problem? Why do you care about your score? Leave it alone, you don't need it.
You should pay cash for everything. Listen to Dave Ramsey.

Just get a credit card and use it a few times a month. You should never use a debit card. It’s not safe. Your credit will skyrocket, and you will save a lot of money on insurance.