How did a credit score service question turn into a debate on the macros of debt management?
Anyway, I think everyone is basically making the same point, just coming from two opposite directions. Manageable debt is good, over-leverage is not, isn’t that the point? In big business, it is a common concept that an acceptable level of leverage actually enhances the value of the company. And it is also common knowledge that any level of leverage increases risk. I think in small business and personal finance, same principles would apply. For me personally, I advocate the application of that concept for any business I would run. For my personal finance, I would rather not take on those risks, so I choose to stay debt free. When I buy a house or a car, that is about the extent of leverage I am willing to take on.
On the question of credit monitoring, I personally feel safe having a reasonable track on it, mainly for identity theft protection and just general interest in staying abreast of any inquiries on my credit. I use Credit Secure from AMEX as well, and they do a good job for $12/mo. I still would love to know how these credit services score someone a 750, as opposed to an 800. Seems like a big, black box to me.
p.s.- I found neither hs_teacher's nor graphrix's string of comments offensive or condescending... did I miss something from a different post?
