My credit isn’t great (in the 670s). I’m assuming it’s because of my outstanding student loans (mostly with the government), if not then there’s some cosmic injustice the likes of capitalism is inevitably deeply involved with.

I think I’ve amassed enough to pay back my student loans but….why? Like, my plan since college has essentially been to never pay them back. ‘Get better interest rates on mortgage, car payments’ like who gives a fuck. Is a credit in the late 700s going to get me a house with a 1000 dollar down payment or somethinng, will it increase my credit line by 10s of thousands, will i be able to move into a luxury loft while only being able to afford a single month’s rent with the plan being to squat for the rest of time?

Is it even worth it?

  • FloridaBoi [he/him]
    ·
    1 year ago

    If you’re not tied to financial things like:

    • personal loans
    • car loans
    • mortgages
    • car insurance
    • renters insurance
    • homeowners insurance
    • rental applications
    • job applications
    • opening savings and checking accounts
    • opening new credit cards
    • opening new utilities service accounts

    Then sure, it doesn’t matter at all.

    Income-to-debt and debt-to-total credit available ratios matter when considering what an interest rate or insurance premium will be.

    History of consistent on-time payments and low carrying balances on debt are very important.