>>What would you consider a good credit rating??<<
625 and above is considered good credit. The highest I have seen is 790 and the lowest was 440.
>>I just got my credit report, and even though I have nothing more than 30 days late, my score was only 590. It said the main reasons it was lower was because of too many inquires, and lack of longevity (I’ve only been eligible to establish credit for a little over two years now).
What do you make of all this?<<
Be very careful about getting your credit pulled, on the bottom of the report is a list of all people who have pulled your credit. When we look at this we look to see if any competitors have pulled their credit, and if so when. This gives us a clear indication if they have tried other people for the same thing but have been rejected.
I woudl strive to pay all your bills on time, work out your cash flow get the bills in time with cash in-flow (you can actually request to change dates on credit cards and what not) and do not pay 1 bill late.
If you do this then you should have no problem getting a mortgage when you acquire a house, which is also very important. We look to see how they handle their mortgage, it speaks volumes. Having a mortgage that is well managed will serve you well.
ANother key thing is revolving credit. Now I do not have the best understand about this, however I think it is basically how much credit you flip. So basically maxing out credit cards and paying minimums will show up on here, and it is something of great interest.
Doug - Some of these frequent flyers act like God stands in the corner when they are in the room. Virgin opitomises this, their 'upper class' is full of Daily Mirror readers with money. I was checking in at 1st (magic cards), and it seemed that all the time you had to be on guard for a plebian trying to cut infront with some way. I got in a conversation with the lady infront of me about how badly behaved our fellow passengers were, she was awesome, very posh British accent and was stubborn as a rock; no one was getting by her!!
I do think frequent flyer programs are great, they create loyalty! Ever since I became an AA (cough I mean Delta) Gold Member, I fly AA exclusively! They take great care of me, so with a loyalty program I have no reason to fly any other carrier.