Virginia Postrel Quotes

Credit is an 'I love debt' score.

'Credit' is another word for trustworthiness.

Late payments also hurt your FICO score. And never, ever take out a cash advance on your credit card.

Remember that credit is money.

A person's credit report is one of the most important tools consumers can use to maintain their financial security and credit rating, but for so long many did not know how to obtain one, or what to do with the information it provided.

You don't need credit.

Whether you're earning $7 an hour or $700,000 a year, it's very important to protect your credit rating.

It's an open secret that if a debtor is willing to wait long enough, he can probably get away with paying almost nothing, as long as he doesn't mind hurting his credit score.

Lenders look at potential borrowers from many angles before extending credit: How much of its income will a household need to put into debt repayment? How large is the down payment? Does the borrower have a job with a stable income? What is the borrower's credit score?

Your credit score takes into account years of information in most cases. It's not going to improve in a day. But it may improve more quickly than you think. Generally, the last 24 months carry the most weight, so if you can keep clean for that long, you'll see a boost.

Anything past 90 days constitutes 'severe,' but all late payments stay on your report for seven years if reported.

Your credit score affects the interest rates you're offered on credit cards and loans, can be used to vet your job application, and in some states may influence your insurance premiums.

If you fail to pay your minimums for any debt on time, your credit score will take a major hit and you run the risk of seeing the interest rate on all of your cards go up. An easy way to remind yourself to pay, is to sign up to receive your statements via e-mail.

A man needs credit. Especially when he has no money.

Your FICO score is an "I love debt" score. You're going to pay a bazillion dollars in interest to keep your FICO score up in order to have lower homeowner's and car insurance rates.

Credit is probably more acceptable in American culture than elsewhere.

I lost my computer business when I was 29 because I gave credit to firms I didn't investigate. I lost my house and had to move back in with my parents and then I lived in an office for six months.

Once I establish credit, I may be able to function. A man needs credit. Especially when he has no money.

Credit card companies pay college students generously to stand outside dining halls, dorms, and academic buildings and encourage their fellow students to apply for credit cards.

If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days.

I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score.

No one anticipates divorce when they're exchanging vows, and it can be devastating emotionally and financially. To ease the financial side of the blow, you need to maintain your financial identity in your relationship. That means having your own credit history - you need your own credit card - and your own savings and retirement accounts.

I generally encourage people to make good on debts when they have enough money to repay them. But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. The damage has already been done, and the blemish will remain on your credit report for seven years.

Credit is a system whereby a person who can not pay gets another person who can not pay to guarantee that he can pay.

Debt is a mistake between lender and borrower, and both should suffer.