I've read a lot of stores lately about "credit score enthusiasts" who want to get the perfect credit score or are obsessed with improving their score. While it's certainly better than not caring about your credit score at all, it almost never pays to get a perfect score.
Despite all the stories about the odd ways your score is being used, the reality is that once you have a good credit score, you don't need to obsess about it.
Consider this - if your score is better than 760, then Fair Isaac Corporation, the company that invested the credit score formula; says you get zero benefit from improving it. For mortgage interest rate purposes, a 761 is the same as an 850. For auto loans, the bar is even lower. If you have a score about 720, it's the same as having a perfect score of 850. Visit their site and look in the right hand column - there's a table listing FICO scores and APRs for 30-year fixed mortgages, 15-year fixed mortgages, and 36-month auto loans.
If you are planning on getting a loan in the next year or two and your score is close to the next tier, by all means try to improve it. If you aren't planning on getting a loan and you have a decent score, focus your energies on something else. I assure you that you will get a better return doing something other than obsessing about your credit score.
Jim writes about personal finance at Bargaineering.com.
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Freebie Friday is provided by Wendi, who blogs at TheFreebieBlogger, where she finds you 100% free items each and every day.
- Logical Nutrition is offering a FREE Revitalize Health Supplement sample. Just put "sample request" and you mailing address in the "How Can We Help?" box.
- Request a FREE Pregnancy Planner that helps prepare you for each trimester and for when baby comes home. It includes a 10-month calendar section to record checkups and other notes.
- Sign up to receive two FREE Wysong Epigen Cat or Dog Food Samples. You can choose from chicken, fish or venison.
- Walmart is offering a FREE two-day Prevacid 24HR sample for the treatment of heartburn to those who qualify.
- Those with children can sign up with Publix Preschool Pals to receive freebies, coupons and more. This offer is available to select states.
- Mercury Magazines is offering a FREE Forbes Investors’ Guide to those who qualify. This guide offers tips on investing and financial planning during volatile times.
- Kids ages 8 to 18 years old can get a FREE Young Eagles Flight and become one of over a million Young Eagles. Be sure to find a volunteer in your area.
- Sun Laboratories is offering a FREE self-tanning product samples. They do not mention which product you will receive.
- If you love Taylor Swift, you can download three of her songs for FREE: Love Story, Fifteen and You’re Not Sorry.
- Stand Up For The Troops is offering a FREE comedy CD download to those with a valid military ID number. Comics include Adam Sandler, Chris Rock, Jeff Foxworthy and Kevin James.
- PracticalMoneySkills.com offers many FREE materials including a Practical Money Skills CD ROM, Financial Soccer & Financial Football CD Roms (to teach students personal finance skills) and more.
- Astroglide is offering a FREE Natural Personal Lubricant sample for a limited time.
See the previous freebie roundups for more free sample offers that are still available!
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New Children's Book Coming from President Obama - Political Punch
As part of the book deal then-Sen. Barack Obama, D-Ill., inked in 2004, Random House today announced the publication of a children's book by the president, “Of Thee I Sing: A Letter to My Daughters.” Political Punch Blog.
Samsung NX100 mirrorless compact launched and previewed: Digital <b>...</b>
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Bloomberg <b>News</b> Hops Aboard Yahoo Finance
Perhaps to get a piece of its 45.6 million monthly uniques?
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New Children's Book Coming from President Obama - Political Punch
As part of the book deal then-Sen. Barack Obama, D-Ill., inked in 2004, Random House today announced the publication of a children's book by the president, “Of Thee I Sing: A Letter to My Daughters.” Political Punch Blog.
Samsung NX100 mirrorless compact launched and previewed: Digital <b>...</b>
Samsung NX100 mirrorless compact launched and previewed: Samsung has announced the addition of the NX100 to its NX series of mirrorless interchangeable lens cameras. It features the same 14.6Mp sensor and 3.0" OLED screen as the NX10, ...
Bloomberg <b>News</b> Hops Aboard Yahoo Finance
Perhaps to get a piece of its 45.6 million monthly uniques?
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