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    Does credit score matter at my age (54)?

    It’s 750 currently. I have a mortgage, and ~18k in credit card debt (all on 0% interest cards), car is paid for and not planning to finance another one.

    Does credit score matter at my age (54)?
    byu/mduncanavl infinancialindependence



    Posted by mduncanavl

    10 Comments

    1. No-Poet-5524 on

      at 54 with no plans for major financing, your credit score is kinda like having a really nice suit you never wear. 750 is solid but if youre not gonna need loans anytime soon it matters way less than people think. that 18k debt is more concerning even at 0% – those promo rates dont last forever and you dont want to get caught when they jump to 25%. focus on killing that debt before the rates reset rather than obsessing over credit score optimization.

    3. jason_abacabb on

      In addition to credit, it tends to affect insurance rates, and if you need another job for whatever (no idea if you are retired) reason many employers will pull your record.

    4. Massive_Inflation_97 on

      I’d say no unless you plan on borrowing money. if you’re not borrowing money, then Credit is pretty pointless but great to have especially for insurance checks or anything where they run a background or credit check to ensure that you’re a quality candidate.

    5. usefully_useless on

      Credit score mostly matters if you want to take out debt. It can also matter when pricing car insurance and screening for some jobs.

    6. ziggy029 on

      It still affects your insurance rates in 46 states, so probably yes. I wouldn’t obsess over it but it does still matter, at least a little bit.

    7. VisualFix5870 on

      Underwrite here. You would never be declined for credit because of your score. If you were to be declined, it would likely be due to your capacity to repay the balance either because the amount is high or your income is low. 

    8. inky_cap_mushroom on

      I don’t suggest wrecking your credit just for the hell of it. With the amount of debt you have you’d almost certainly get sued. You definitely don’t need to micromanage your credit unless you change your mind about applying for new credit in the next month or two, but credit does impact things like insurance rates and some jobs.

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