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My credit score has consistently been around 750 for a long time and it never helped me in any way at all, anyway.
Mine's been consistently 800+ for years... and it has helped me considerably... repeatedly.
Has it though? I wonder how the deals you got compared to the person who posted above you? You really wouldn't know. Maybe you got the same deal but you are happy with it and they are not. There is no transparency.
My score never really seemed to make a difference when I financed things. I have had good and bad scores over the years. For me it's usually based on what I am buying and how much I am willing to put down.
Yes it has... because I've attempted to take loans primarily under my wife who doesn't hold as high a score as I do for a myriad of reasons. Same shared incomes... same shared assets. Only difference is my score is higher as far as they're concerned.
Generally 750 and above are considered the same, but even if they weren't, it's not about getting a "deal" in terms of a cheap purchase price on a car but rather cheap interest rates along with all the other crap they've tied to it lately like jobs and housing. With loans, you can see what the prime interest rate is for a specific type of loan and you should be getting close to that if you're in the market for one. You're not simply reliant on what some car salesman tells you that you qualify for (in fact this is a good way to get a terrible rate) but you can shop around yourself at banks and CUs to get the best rate for example.
I have one single credit card that I use and pay back regularly. I have no other debt - school loans are paid off, cars are paid off, never late on bills, rent paid on time (they report it to credit bureaus)... I don't even have medical debt.
And yet my credit is mid 600s.
Make it make sense.
One card at $5k limit (making this number up, only you know what you're approved for on your card) doesn't necessarily show worthiness for holding more debt. I have 4 active cards... aggregating about $40k of revolving limits. Of course rarely ever use them and pay them down.
Holding no non-revolving debts can actually hurt you. If you haven't had a car note or mortgage in a long time, they don't know if you're capable of holding such debt effectively anymore. Before we bought a house, I specifically held onto the car notes and only paid the second car off after we secured the mortgage. Of course with a mortgage, I'll be sitting on "debt" (really building equity in the house) for a while. but meeting the terms of that debt monthly only strengthens evidence that I can manage debt correctly, increasing score.
Edit: For you, try to increase your limits on your card. If not take out another card and make a purchase every few months on it to keep it active. As you increase the "allowances" you have, and keep that in check... you'll find your number goes up quite quickly. As far as non-revolving debt, don't take out a loan if you don't need it, but think about sitting on a loan for your next purchase even if you have the cash on hand to build the credit up.
I paid off my last car in 2021. I have no plans for another car payment. 10 years over 2 cars was long enough. I'm nearly 40, married with kids, neither of us have any debt, and we pay our bills on time. And yet my fucking RENTAL still required me to have a fucking COSIGNER. That's an absolute embarrassment.
IDK about you, but I'm sick of this game. This is bullshit, the system is clearly stacked against "the poors". There is no light at the end of the tunnel. My only source for any sort of actual savings is bonuses and bi-annual "3 paycheck" months.
I'm lucky enough to be able to put 3% of my gross pay into a 401k.
I mean fair enough on the sentiment. I'm not particularly rich. But I do well off for myself and we live comfortably within our means.
But if you don't "play the game" don't be mad when you don't score well? I know it sounds harsh, but it sounds to me like you don't actually need credit access... so why do you care then?
I think you misunderstand. I had to have someone cosign for my RENTAL. The rental I'm living in right now. DESPITE the fact that I played the game for years. DESPITE the fact that I pay all of my bills on time. DESPITE the fact that my debts were paid on time.
"Playing the game" has clearly put me in an arguably worse spot than I was when I started. I didn't need a fucking cosigner for a fucking rental apartment when I was 20 with zero credit history.
I didn't misunderstand. You can't claim you're playing the credit game and only have one credit card and no non-revolving debts for years.
And no it hasn't put you in a worse spot. "No credit" is effectively equivalent to "shitty score". You didn't need a cosigner when you were 20 because that was probably decades ago when credit score wasn't used as a metric.
Your entire comment here is part of the reason this country is as broken as it is.
My comment was just on the facts. Not that I agreed with them.
So your insinuation and downvote, just shows that you make a lot of assumptions about people and I would argue that your post is way more damaging to the country than mine.
Edit: I'm not here arguing with you. I'm just outlining why you see it the way you do. I think it's shit. But apparently you think I agree with the system just because it's working for me. That's not the case, and you're the worse off for starting random hostility with people for it.