When is the last time you checked your credit score?

Same in Europe, the credit score is an American thing.

@freelancermariagrace May be Canada has a similar system.

@LadyDuck

I like that.

@LadyDuck It sounds a lot better. So, when someone needs a loan for a house in Switzerland, how do the banks decide who to give a loan to? Do they just check to see if a person pays their bills? That’s the best way to get a good score here; just pay bills on time.

@AmbiePam Germany is the only European country that has a credit score system, but there is only one credit bureau. It's an easier system.

I’m not sure if my credit card offers a free one, but I hate their website so I went with Credit Karma.

@rebelann That’s really weird.

I used to use CK but back in 2020 I had trouble logging in and they eventually locked me out. I don't even bother with them anymore.

If you are like me, you’re like, forget that. I’ve got to just get by with living in my reality!

@AmbiePam Yes that is the bottom line.

The first time I did it I actually found someone had put a delinquent credit card in my name, so I was glad to get that taken off. It was a relative!!! I imagine your credit score is excellent because I can’t imagine otherwise.

@Juliaacv It would probably be a good thing, but I don’t mean to put a worry in your head. Until I saw that someone had done that, it never occurred to me I would need to check for it.

@AmbiePam Now that you tell me that about yourself, I should look into checking mine.

What kind of car did you lease?

@dgobucks226 Nice!

@AmbiePam Hyundai Elantra

You and my dad are just alike, except he didn’t realize his credit score was excellent until I told him. He knew the number, he just didn’t realize what the most desirable score was.

@AmbiePam Yes, peace of mind, but it could always change.

A new house is exciting!

I got docked several years ago, I know, from closing a credit card account when I got a new credit card. They warned me it would hurt my credit score, but I didn’t want to worry someone would commit fraud and get ahold of it. I can’t worry about it if it isn’t an open account.

I couldn’t imagine you with anything less than a good one.

@AmbiePam Just making a late payment can give you a lower score.

Good for you! My dad’s credit is excellent too.

I think it is a positive thing that it doesn’t matter there.

Other people might disagree, but not relying on credit seems like the best way to live. I mean, that seems obvious, but I know people who honestly don’t realize how bad it is to live off credit.

@AmbiePam The only time credit really "matters" to me, IF it matters, is when it is good credit, which is defined as credit that is used to obtain an asset as opposed to a liability. It's too much to get into details here about what I mean by that. But there IS a big difference between credit that is used to buy an asset and credit that is used to buy a liability. A house, for example, would be considered good credit. A car loan is TYPICALLY bad credit. However, when it comes to car loans it can be both—again, lots of details about that that are difficult to explain. If the cost of the loan is cheaper than what you can earn on the cash...this is a good use of credit. If the cost of the loan is higher than what you can earn on the cash, cash being used to buy the car is the better alternative. Credit cards are bad debt. So are college debts MOST of the time. Business loans are good debts. I think the key takeaway is understanding the COST of the debt, what it is being used for, and whether it is positive leverage or is being used to replace money we don't actually have.

Really? Maybe I need to check that out, thanks.