What to do with 850 credit score? (Canada)

Submitted by lucid604 t3_126wmmg in personalfinance

Already own a home and have two car loans which are very reasonable given my income.

Anything in particular I should be doing with an 850 credit score? I've been told to shop around for credit cards with better rates, but to be honest I haven't put much thought into it. Am I missing out?

Looking for any guidance/suggestions, thanks!

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WJKramer t1_jeb9j0o wrote

Credit cards with better rates? Why would you care about rates? You obviously pay them off every month with an 850 score. There is nothing you need to do with a credit score other than maintain it for when you need it to apply for credit.

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t-poke t1_jeb9mtj wrote

No, you're not missing out.

You don't use a credit score for anything other than to get approved for stuff when you need it.

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HobbesNJ t1_jebhf1x wrote

Replying to WJKramer (#2,497,003)

Yeah. I've got an 850 score and haven't carried a balance on a credit card in 20 years. I pay no attention to the interest rate of my credit cards.

I suppose if I need to get another mortgage someday the good score might come in handy, but otherwise it serves no real purpose in my life.

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