Being a good credit card customer has its advantages, and those can come even when you didn’t ask for them. For me, that truth has been underscored recently in two ways: American Express extended a six-month, no-interest offer for my…
For years, I’ve taken my good credit score for granted. I pay my monthly bills on time and have every intention of maintaining a high score so that I can access affordable credit and eventually buy a home. But like…
What is the value of good credit? If you’re like the majority of Americans who rely on having good credit scores to help smooth the way when you buy a car, get a mortgage or apply for other types of loans, a high credit score is vitally important.
A conversation with someone at a dinner party over the weekend and recent comments from a friend makes me wonder whether the number of people who don’t value good credit is growing.
The person at the dinner party proudly revealed that he doesn’t have any credit cards (he uses debit cards if he has to book an airline flight) and pays cash for everything, including cars. He says the last time he checked his credit score was several years ago and it was 540 back then.
For a small and maybe growing number of people like him, maintaining good credit does not make good sense.
I told him I thought he was definitely in the minority in the country because the rest of us (me included) want to be able to borrow if we need it. Since I’m not independently wealthy with my own unlimited stash of cash, I have to rely on banks to finance big-ticket items. Those banks use credit ratings to weed out the good versus bad credit risks among us. I don’t make the rules, but I’m forced to play by them because I’m not wealthy.
Sure, most of us will never be Olympic ski jumpers, and major corporations will probably never pay us to wear their clothes, but that doesn’t make our individual goals any less important. We might not receive an actual gold medal in return for our efforts, but once we reach our own personal victories, I think we deserve to treat ourselves like gold.
On this day in 1901, Walt Disney was born. In this week’s credit card roundup, we celebrate Disney’s hundreds of inspiring and heartwarming films that defined many of our childhoods.