by FoolYap » Fri 26 Sep 2008, 09:02:38
$this->bbcode_second_pass_quote('Roccland', 't')o get what you may need to perpare (somewhat) for this bone crushing thud into the brick wall at 500MPH...Or do you still hold out that your FICO actually means something?
I couldn't care less about my FICO. Don't have any idea what number I have. Never looked, never cared to. Why should I? My goal is to have as little debt as possible, not optimize my score in a debt game. If I did care about it, I'd be using my CC more often than I do. When I do use it, I pay it off when the bill comes.
Jacking up your credit card debt in the hopes that total systemic collapse happens before anyone can come collect on your debts, or before you pay a fortune in double-digit interest, is a fool's game IMO. None of us knows how long the Fed and all the central banks can keep the spinning plates up in the air. Bill-collectors and repo men are likely to be active for a long time during the slide, when it gets going. Do I want to bank on them not getting to me before the slide hits "the wall"? No, I do not.
My advice: Cut expenses, save cash, pay down debt, buy supplies with cash as you can afford to.
--Steve