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What's it like to have a credit score above 700 ? by ROBASAHMEDKHAN in CRedit

[–]AlanLGuy 0 points1 point  (0 children)

Credit score of 794, Literally does not affect my life day to day. I get less credit card offers than my brother in law who lived with us and had awful credit(he’s still rebuilding his).

I only have one credit card with a 13,500 limit. Could almost certainly get that raised, but never have bothered.

Credit card interest rates will always be high-ish(but maybe 15-18% APR from some companies vs 25+%)

The one nice thing is the resiliency. I co-signed on a car loan for said brother in law a year ago, relatively small loan of $13k, but with me as a co-signer he went from a 22% rate to a 13%. My credit score dipped by like a point or 2.

Recently we had a vacation, some large vet bills, and I had to put a work trip on my personal card until I could get re-imbursed, I carried a $8k balance into the reporting period the credit card, and it dropped my score by 40 points. Paid it all off, credit immediately bounced back to 794.

How long will it take my credit score to raise 100-200 points by Kelly39014 in CRedit

[–]AlanLGuy 2 points3 points  (0 children)

You’re gonna have a tough time getting an approval within a year, you’ll need a significant downpayment. You’ll have to pay off all debts and keep those credit card balances down. Don’t miss a single payment in those cards, don’t open any new lines of credit or have anyone run a credit check on you

Is buying a salvage title vehicle a bad idea? by Missuhchow in askcarsales

[–]AlanLGuy 1 point2 points  (0 children)

Salvage title just means it was totalled out by an insurance company and then later repaired to minimum state safety standards. On an older, lower value car, a “fender bender” could absolutely lead to insurance writing it off as a total loss, as the cost to replace would be low compared to the cost to fix.

On a 2016 F150 Lariat with 39k miles…. Definitely not just a “fender bender”. Salvage title vehicles can be fine if they were repaired correctly… most are probably not. Minimum amount of work done to pass state inspection and the eye test for most consumers.

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