Two things I will never understand in life...

[Solitary Man]

The system works for the few, then it doesn’t for the many.

Welcome to planet Earth.

 

[Liquidsilver]

I've always been a Michelin guy, because in my experience they are always consistently high quality and good performance... but at a premium price.

Now lately, with so many of my kids driving, I've found Hankook tires to be good quality and a good value. Korean company and a lot of the tires are manufactured in the US.

Even though Dunlop and Bridgestone are japanese companies, a lot of their tires are made in the US. I wonder if Toyo is the same.

My son is a mechanic and can usually score a really nice employee price on tires from the wholesaler and he puts them on at the shop he works in. And since I do my own repairs and rotations, I don't mess with the warranties. I only lose if I hit a big road hazard that destroys the tire. I've still above even on that one (knocking on wood).

I have no idea what my credit score is, since I don't ever borrow.

 

[Sigarms]

but the govt changed its calculation to support and reward people swimming in revolving debt.

Can you show me where it's the governments calculation for credit scores vs private banking calculations?

At the end of the day, it's your credit score that affects what kind of rates you can get from my past experiences. Lower credit score, higher interest, less of a risk on the lenders part is what I would guess.

 

[Sigarms]

I have no idea what my credit score is, since I don't ever borrow.

I had no clue what my credit score was until a couple of months ago and I found out by mistake I could find it on my banking website.

 

[fishdrivel]

???
Maybe there's something wrong with your truck (or your driving skills). I've never had any problems with Michelins.

Truck is as new.
I raced professionally and my driving skills are not the problem.
The tread pattern is the problem. If your needs are only that they hold air, they will do that.

 

[lman]

When I paid off my farm and other large assets, i finally achieved my goal and I had no debt at all (yay!) then over the next two years my credit score dropped 200 points (boo!). I paid cash for everything, and would save for large purchases before I bought them, this continued to hurt my credit score. 75 years ago, this type of business management would have given me the lowest credit risk in town, but the govt changed its calculation to support and reward people swimming in revolving debt. It took me a few years to repair the score, by taking out a truck loan & a few credit cards that I use and pay back each month so I don’t have to pay the egregious interest rates the banks charge. The system has been changed to break the saver/builder of wealth. Even those who buy gold & silver have to deal with bank suppression/manipulation.

It's my understanding that your credit score is there for financial institutions to determine if you're a good risk to loan money to. If you're not attempting to get a loan, your credit score is meaningless. I haven't had a loan for years and don't know or care what my credit score is.

 

[murphy1244]

I don;t understand.. Your score dropped 2 points? from say 830 to 828? That's nothing in the world of things.
I don't think God understands credit scores.Wouldn't doubt a bunch of bankers just pick numbers and that's your score.

 

[3Ts]

It's my understanding that your credit score is there for financial institutions to determine if you're a good risk to loan money to. If you're not attempting to get a loan, your credit score is meaningless. I haven't had a loan for years and don't know or care what my credit score is.

Ummm. You will find that what you pay for insurance is affected by your credit score.

 

[notaz3]

Never liked the "I Love Credit" score. The more available and unused credit the higher the score. My score dropped over 30 points by paying off our house.
Now with no open credit, or need for credit I no longer know what my score is.

 

[Septemberwheat]

It's my understanding that your credit score is there for financial institutions to determine if you're a good risk to loan money to. If you're not attempting to get a loan, your credit score is meaningless. I haven't had a loan for years and don't know or care what my credit score is.

Being able to take on a loan is an asset. To say “I’ll never need a loan ever again.” Is either poor business management or you’re so late in life, you don’t need the money. Both have little to do with how risk is evaluated today. Risk for a bank when making a loan is the probability of the loan plus interest being repaid. This has to do with income vs expenses & net assets. Hers an example, if I make a million dollars a year, have no debt & own a $10 million dollar farm, based on the way the government calculates risk today, I could be seen as a high risk loan because I have no track record of debt. Whereas 100 years ago, I’d be the safest risk in town.