The type and age of the accounts you hold, your past history of late or delinquent payments, and the total amount of debt that you have accrued are just some of the many factors that determine your credit score.
According to Experian, while most credit scores fall between 600-750, a score above 700 is considered good credit management.
Every state has different laws on how collection agencies are allowed to talk to you.
Now collection agencies start calling you day and night. Or if you answer the phone, record the conversation.
Editor’s Note: We have been talking a lot about credit card churning in recent weeks. The lending industry has bombarded us with propaganda about credit scores for years.
One card, with First Premier Bank, even had interest rates go as high as 80%. The question was this (verbatim): “Hi James, Please please help me. Answer: DON’T PAY YOUR CREDIT CARD DEBT if it is hurting the rest of your life. Then the courts just give the credit card companies your money. North Carolina and West Virginia, for whatever reason, are the worst states if you are a buyer of batches of bad credit card debt. But they might only pay 2 cents on the dollar for those.
Not for borrowing, of course, but as a means of channeling through your standard spending and collecting significant rewards (for most of us, over 00 per year).
My travel-hacking, part-time-mechanical-engineering, credit card afficionado friend Brandon Cronan keeps his eye on the changing and competitive credit card landscape and keeps his latest recommendation on the following page, which we host on the “cardratings” website. Money Mustache Credit Card Recommendations now at On that page, you’ll find a list of our favorite credit cards for travel hacking, as well as Brandon’s commentary on strategies.
Go ahead and click on any titles that intrigue you, and I hope to see you around here more often.
couldn’t pay him back “yet.” This call happened at least once a week.