I've read a lot of stores lately about "credit score enthusiasts" who want to get the perfect credit score or are obsessed with improving their score. While it's certainly better than not caring about your credit score at all, it almost never pays to get a perfect score.
Despite all the stories about the odd ways your score is being used, the reality is that once you have a good credit score, you don't need to obsess about it.
Consider this - if your score is better than 760, then Fair Isaac Corporation, the company that invested the credit score formula; says you get zero benefit from improving it. For mortgage interest rate purposes, a 761 is the same as an 850. For auto loans, the bar is even lower. If you have a score about 720, it's the same as having a perfect score of 850. Visit their site and look in the right hand column - there's a table listing FICO scores and APRs for 30-year fixed mortgages, 15-year fixed mortgages, and 36-month auto loans.
If you are planning on getting a loan in the next year or two and your score is close to the next tier, by all means try to improve it. If you aren't planning on getting a loan and you have a decent score, focus your energies on something else. I assure you that you will get a better return doing something other than obsessing about your credit score.
Jim writes about personal finance at Bargaineering.com.
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Freebie Friday is provided by Wendi, who blogs at TheFreebieBlogger, where she finds you 100% free items each and every day.
- Logical Nutrition is offering a FREE Revitalize Health Supplement sample. Just put "sample request" and you mailing address in the "How Can We Help?" box.
- Request a FREE Pregnancy Planner that helps prepare you for each trimester and for when baby comes home. It includes a 10-month calendar section to record checkups and other notes.
- Sign up to receive two FREE Wysong Epigen Cat or Dog Food Samples. You can choose from chicken, fish or venison.
- Walmart is offering a FREE two-day Prevacid 24HR sample for the treatment of heartburn to those who qualify.
- Those with children can sign up with Publix Preschool Pals to receive freebies, coupons and more. This offer is available to select states.
- Mercury Magazines is offering a FREE Forbes Investors’ Guide to those who qualify. This guide offers tips on investing and financial planning during volatile times.
- Kids ages 8 to 18 years old can get a FREE Young Eagles Flight and become one of over a million Young Eagles. Be sure to find a volunteer in your area.
- Sun Laboratories is offering a FREE self-tanning product samples. They do not mention which product you will receive.
- If you love Taylor Swift, you can download three of her songs for FREE: Love Story, Fifteen and You’re Not Sorry.
- Stand Up For The Troops is offering a FREE comedy CD download to those with a valid military ID number. Comics include Adam Sandler, Chris Rock, Jeff Foxworthy and Kevin James.
- PracticalMoneySkills.com offers many FREE materials including a Practical Money Skills CD ROM, Financial Soccer & Financial Football CD Roms (to teach students personal finance skills) and more.
- Astroglide is offering a FREE Natural Personal Lubricant sample for a limited time.
See the previous freebie roundups for more free sample offers that are still available!
As always, make sure you’re protecting your personal information when you’re signing up for freebies.
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Every Friday I’ll start a new post with a Mr. Linky for you all to share your fabulous freebie finds with Deal Seeking Mom readers! If you have a freebie you’d like to list, just leave your link below.
To keep it neat, I suggest that you list your blog name and then the freebie you've found in parentheses, ex. Deal Seeking Mom (Free Toilet Paper Sample). The only requirement is that you link directly to your post on the freebie. Links directly to your homepage will be deleted.
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