Getting financing aside, a solid credit history is increasingly important for many things from applying for a job to getting insurance.

You definitely want a good FICO score.

@Anon – Yes, I agree with you. I had a high credit score without any debt. I read someplace that Dave Ramsey equates a high credit score with lots of debt. I disagree.

I never carried credit debt and had only a little student loan debt years and years (more than 7 now) that was paid off before it accrued interest…

Someone I know very well bought their house for $120k and when the mortgage company foreclosed last month there was $317k in loans on it, and they had nothing to show for it.

Oy.

I have a very high credit score (top 1% in the country) and have no debt other than a small mortgage. I have credit cards that pre paid off monthly.

You never know what life’s going t o throw at you. If I do ever need to borrow money I’ll get a great rate as a result. Dave Ramsey probably won’t.

@frugalbabe – Like you, I want to get out of debt and then start working on our mortgage. I remember when I was 21, one of my friend’s mother’s home was totally paid for, I thought it was so awesome that she had this beautiful 4 bedroom home with a pool and no monthly payment!!

@kacie – I agree. It’s sad. I have another friend who has done something similar… but she’s very upset about her debt but can’t seem to dig her way out.

@Shannon, my credit scores are also very high and they were before I got into this credit card debt… funny enough, when I got done with my credit card debt the first time around, I was warned my credit would be “slow” but my scores were very high. I guess the credit card companies didn’t mind too much that I went through a consolidation company.

@skittl1321 – my credit score has been very high for years, like you I use my credit cards responsibly. I also don’t agree that a high credit score means a lot of debt. I think that is what Dave Ramsey says, iirc.

Thank you everyone for visiting and posting!!!

However, I take umbrage at the notion that a high credit score means loads of debt. I have a very high credit score- and have never had any debt up until this year when I bought a house (so now I have a 30 year mortgage). My credit score was high before I bought the house because I have a long credit history- and use credit cards exclusively, but I have never paid a cent of interest or a single fee on them. It is possible to use credit responsibly.

Also, we have a high credit score, and that mortgage is our only debt. We use credit cards but pay them off every month on time.