Quote:
Originally Posted by suaveflooder
What are you trying to build your credit score for after so many years of a "cash only lifestyle?" Just curious as I am doing the opposite. I'm moving to a 100% cash lifestyle.
If you are sitting as you say you are financially, I don't see you needing it for much. At 25, you could probably pay for a house in cash by 40, which is better than the majority of people. That would still leave you 30 years with no payments to stockpile cash, travel and invest.
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Because the homes I'm looking for aren't exactly in the "cheap" range, so I'll be getting a home loan either way. By building up the credit now, the price of the car (plus some, likely) will pay itself off in saved interest payments by getting a better rate on the home loan.
I don't want to wait until 40 to be comfortable
It's a lot easier to "get rich" by being stingy and saving every dollar and getting every economic advantage, even if you don't really need to.