Are you worried about your credit score?

During the past couple of months, I have seen many posts about individuals worried about their credit score. They pay off a credit card and their score goes down. A company closes it's doors, and their score goes down. What is the best way to rebuild my credit many ask? Here is where we are all chasing a mythical unicorn or a "perfect credit score". It's interesting that the breakdown for the "how a score is calculated", doesn't even take into account one major thing? What is my net worth. You see, a credit score looks at how you interact with debt, not your bank account, not at your 401K, 403B, Roth IRA, etc, etc. It only looks to see if you borrow, and if you pay back. Isn't this a lot of stress? We use credit to build up our score, to be able to borrow more, and pay off in time. The true thing here is plain and simple: You could have enough money to buy a building, but the credit score will not allow you to rent a room in the building if you have a bad credit score. How silly. For me, I don't want to stress over any bills, I don't want to owe anyone. And if you think that you need a score to buy a home, think 20% down in cash, and find a lender who does manual underwriting. Life is possible without a credit score. Let me know if you need help with that! Click here to find out more:

Jim Poirier

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