High Credit Score

The most important reason to have a good credit score is to make it so you can qualify for the lowest interest rate on mortgages, car payments, credit cards, etc. A good credit score can be important if you are looking to rent a place to live or if you are seeking a job or have a job that requires a security clearance. A good credit score gives one peace of mind that the best possible rates will be available if needed.

In your situation, it sounds like your excellent credit is not going to come into play, based on your future financial goals. Still, it makes sense to maintain your excellent credit rating, thereby keeping all options open.

I recommend that you keep up the same behavior that allowed you to build such a strong credit score. It should not take any additional effort for you to maintain your score.

If you want to take some actions that would lower your score, such as closing a credit card or a number of active accounts, there may be limited or no harm in doing so, but I would advise against it.

While right now you feel that you have no need for any kind of loan ever again, perhaps you would want to aid a family member, at some point, by co-signing on a loan. I generally advise people against co-signing, due to the effects of co-signing for a loan, but it may be something that you would decide to do.

Maintaining your strong credit seems to be the most prudent course. Like the Boy Scouts say, "Be prepared."

I hope this information helps you Find. Learn & Save.

Best,

Bill

Bills.com