As I'm reading this chapter on credit scores, I realized I have, um, nevercheckedmycreditscore....
I know! So, after some chastising from a coworker I bit the $7.95 bullet and did my report and received positive results. I always pay my bills on time and I pay off my credit card in full each month (my dad taught me that), but I had no idea what to expect and really (still) don't know what all goes into a credit score. Mr. Bissonnette is helping me to figure it out though, as is reading through my report.
Another thing Bissonnette drives home over and over again is how we should use cash and not credit cards. Period. Did you know that most of us think of a spending a dollar on a credit card as only fifty cents? And, did you know that there is a correlation between unhealthiness and impulsiveness in food items and credit card using? I know. Crazy, right? I'm not backing up my claims so that you will go and read up on all this for yourself. I carry a credit card and use it on most of my purchases, but now I'm rethinking that. Bissonnette gets into how much of a scam airline miles and points and all those "rewards" for using your credit card are as well. Carrying a big wad of cash all the time seems impractical and dangerous, though, especially living in a city. Maybe the point is to only bring a little money with you for the every day kind of things?
The book is a bit different than I expected, and a bit outside my usual reading taste (read: has to do with finance), but I am enjoying how it is making me think.
So, tell me, do you know and understand your credit score? Are you a credit card user or a cash carrying kind of person? Have you read Bissonnette's book already?