[La lamy]

Originally Posted by Goldwingnut

It shouldn't be much of a surprise that The Villages tops the list. A lot of very smart people live here, people who were wise with their money, saved, lived on what they earned, and planned for their future and retirements. The number on the list that also isn't surprising is the average debt, the residents here have a fraction of the debt that the others on the list have, mainly due to no mortgages on many of the homes here.

The high FICO score is a fools dream, a grab to be the highest ranking slave. The real superstars are those who live here without a credit score, who've gone without borrowing money or a line of credit of any kind for the last year or more, they pay cash for everything (debit card is the same as cash and is not credit), these are the true masters of their own money and destiny.

I've been debt free for many years now, but I still use a credit card and pay it down every month. That way I still have a credit score, and get dividends pay back on what I spend. Win win.

[GoodLife]

Originally Posted by Goldwingnut

The high FICO score is a fools dream, a grab to be the highest ranking slave. The real superstars are those who live here without a credit score, who've gone without borrowing money or a line of credit of any kind for the last year or more, they pay cash for everything (debit card is the same as cash and is not credit), these are the true masters of their own money and destiny.

Not so sure paying cash for everything is the smart play, I pay for everything possible with credit card, then pay entire balance at end of month. Zero interest paid, and I keep my cash where it's earning me something for an extra 30 days.

[retiredguy123]

Originally Posted by GoodLife

Not so sure paying cash for everything is the smart play, I pay for everything possible with credit card, then pay entire balance at end of month. Zero interest paid, and I keep my cash where it's earning me something for an extra 30 days.

I do the same thing. Pay for almost everything with a credit card. Never pay interest. To me, the biggest advantage is that you have 60 days to dispute a charge for a defective product or non-performance, even if you have paid off the account. You don't have the same protection with a debit card.

[GoodLife]

Originally Posted by retiredguy123

I do the same thing. Pay for almost everything with a credit card. Never pay interest. To me, the biggest advantage is that you have 60 days to dispute a charge for a defective product or non-performance, even if you have paid off the account. You don't have the same protection with a debit card.

Yep, good point.

[Chatbrat]

Also credit cards can give 5% cash back on groceries, cable/steaming. gasoline, dining varies minimum 2% cash back--by playing it smart you get several thousand dollars a year free cash by using credit cards smartly and if you sign up for new credit cards you'll get $150-$200 per card but it will be taxable, after you meet their minimum purchase requirements-stop using them and put them in your safe

[Boilerman]

Originally Posted by dewilson58

Absolutely false.

Here are three of of many links to articles that explain that higher credit scores lower insurance premiums.

How do my insurance scores affect my car insurance rates? – Credit Karma

How a Credit Score Affects Your Car Insurance - Consumer Reports

How credit scores affect car insurance – Nationwide

[GoodLife]

Originally Posted by Chatbrat

Also credit cards can give 5% cash back on groceries, cable/steaming. gasoline, dining varies minimum 2% cash back--by playing it smart you get several thousand dollars a year free cash by using credit cards smartly and if you sign up for new credit cards you'll get $150-$200 per card but it will be taxable, after you meet their minimum purchase requirements-stop using them and put them in your safe

Also good points. I got an almost free first class ticket to Scotland by charging a dental implant on their Virgin Air rewards card. Was planning to go play golf there all summer this year but coronavirus messed up that plan. Maybe next year, hope they don't go bankrupt.

[Lindsyburnsy]

This can't be "news". You have over 100,000 people nearly all retired and over 55 living in homes, many second homes. Everybody receives SS and Medicare. Most have pensions on top of it. The Villages is a bubble of sameness. Now move around to pretty much any other city in Florida and check out their average credit score. My mother lives in an assisted living complex. Bet all of their scores are over 800, too. Same kind of a bubble as TV, just on a smaller scale.

Originally Posted by manaboutown

Why am I not surprised?

Average FICO score in TV - 785!

The 5 US cities with the best credit scores | Fox Business

[Boilerman]

Originally Posted by Chatbrat

Also credit cards can give 5% cash back on groceries, cable/steaming. gasoline, dining varies minimum 2% cash back--by playing it smart you get several thousand dollars a year free cash by using credit cards smartly and if you sign up for new credit cards you'll get $150-$200 per card but it will be taxable, after you meet their minimum purchase requirements-stop using them and put them in your safe

I agree. We’re debt free but use a no-fee credit card whenever we can. Benefits are:

- cash back on all purchases
- ability to dispute charges if product or service is defective
- maintain high credit score for lower insurance premiums
- delays payment by 30+ days
- not having to carry around lots of cash
- faster payment in retail stores

IMO, it’s a no-brainer

[Chatbrat]

Chase Freedom card gives 5% back at various stores /services per qtr/ it varies--Sam's Club MC 5 % back on gas and 2% back on dining, TD Visa 1.5 % on all purchases + another 10% if the cash back is deposited in your TD account (1.65%) total, Suncoast Credit Union car 2% back on all grocery purchases--if you make pit stops @ Wawa use your Sam's club MC you'll get 5% since its a gas station and all of these cards have no fee

[Joe C.]

I grew up poor -- dirt poor. Parents never even had a credit card. And "second mortgage" was a term that was like a death sentence.

HOWEVER -- When I got married, I agreed with my wife to get only one credit card, because we realized that in order to get a mortgage, we needed a good credit rating. I told her that we had to pay our bills on time and NEVER to exceed our limit. We have, over the last 48 years, paid our bills on time, and as a result have a high score (higher than the villages by a long shot).
OH..BTW, we get enough points to fly for free when we go on vacation.

The key is to pay your balance monthly and avoid the interest charge.

[davem4616]

Not surprised with the average FICO rate for TV....we all played the game to win and we're now able to enjoy the good life

I feel blessed to frankly not give a damn about my FICO score....at this stage in my life it means nothing

we live debt free....use a no fee credit card that gives us 2% back on everything....already have enough air miles/hotel points to do what I choose....

we can't spend what we take in every month...so we give back to those in need

heck even when we donate to the Salvation Army with that credit card and get 2% back (and we pay their merchant fee cost too)

it's all good

[dewilson58]

Originally Posted by Boilerman

Here are three of of many links to articles that explain that higher credit scores lower insurance premiums.

How do my insurance scores affect my car insurance rates? – Credit Karma

How a Credit Score Affects Your Car Insurance - Consumer Reports

How credit scores affect car insurance – Nationwide

Read the articles and you will learn.

The first report is self-serving. They are a credit reporting service. Duh!!!
The other two reports indicate a carrier might look at credit history, NOT CREDIT SCORE. The number, the score is not used.

[Westie Man]

with a neighbour on auto-pay and an AC on auto. He lay dead in his apartment for a year before his mummified body was found.

Originally Posted by Chatbrat

The only thing you can say about credit scores--the people with the highest scores-don't need it, really wonder the percentage of people in in TV with no mortages, pay their monthly expenses via auto pay from bank/brokerage accounts via debits from their checking accounts, expenses such as credit card charges, utilities, sunpass, insurance--love it when life is on auto pilot

Only time to write a check- to IRS, DMV & local tax

[biker1]

We hardly ever use cash. Everything goes on a credit card and we pay the balance every month. Why? Four reasons: you get points/money back from credit card companies, you can dispute the charge if things goes south with a purchase, you will often get an extra year of warranty with appliance purchases, and you can often get included travel insurance.

Originally Posted by Goldwingnut

It shouldn't be much of a surprise that The Villages tops the list. A lot of very smart people live here, people who were wise with their money, saved, lived on what they earned, and planned for their future and retirements. The number on the list that also isn't surprising is the average debt, the residents here have a fraction of the debt that the others on the list have, mainly due to no mortgages on many of the homes here.

The high FICO score is a fools dream, a grab to be the highest ranking slave. The real superstars are those who live here without a credit score, who've gone without borrowing money or a line of credit of any kind for the last year or more, they pay cash for everything (debit card is the same as cash and is not credit), these are the true masters of their own money and destiny.