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SVTPerformance's Chain of Restaurants
Road Side Pub
N/A credit score.
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<blockquote data-quote="CV355" data-source="post: 15491652" data-attributes="member: 181885"><p>I can tell you this from experience:</p><p></p><p>I only had installment debt up until a few years ago when I bought my first house. My credit score was in the high 600's yet I had a perfect payment history on everything (car loans, personal loans, insurance, college, etc).</p><p></p><p>I bought my first house and furnished it by opening 6 or 7 individual cards at various retailers (furniture, appliances, etc). Hammered the hell out of the payments and had it all paid off in 6 months, then cancelled the accounts one by one. Now I only keep a single card, which I use 2 or 3 times a year for large purchases (instant 2% discount). My credit score jumped 180 points in one year despite closing so many accounts. Worth it for when I sold that house and got a nicer one at a lower interest rate.</p><p></p><p>As other posters said- do NOT do anything that will reflect on your credit report while applying for a mortgage- even if it's just an inquiry.</p><p></p><p>But as ON D BIT said, you're in a position where you don't even need a credit score anymore. The best credit score to have is N/A or 0 for that reason.</p></blockquote><p></p>
[QUOTE="CV355, post: 15491652, member: 181885"] I can tell you this from experience: I only had installment debt up until a few years ago when I bought my first house. My credit score was in the high 600's yet I had a perfect payment history on everything (car loans, personal loans, insurance, college, etc). I bought my first house and furnished it by opening 6 or 7 individual cards at various retailers (furniture, appliances, etc). Hammered the hell out of the payments and had it all paid off in 6 months, then cancelled the accounts one by one. Now I only keep a single card, which I use 2 or 3 times a year for large purchases (instant 2% discount). My credit score jumped 180 points in one year despite closing so many accounts. Worth it for when I sold that house and got a nicer one at a lower interest rate. As other posters said- do NOT do anything that will reflect on your credit report while applying for a mortgage- even if it's just an inquiry. But as ON D BIT said, you're in a position where you don't even need a credit score anymore. The best credit score to have is N/A or 0 for that reason. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
N/A credit score.
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