Credit Card Payments

[PoorUB]

I am a little confused with credit rating.  My house is paid for.  My car is paid for.  My harley is paid for. I have one credit card and pay the balance every month.  My insurance company said I had a low credit rating. 

It can go the other way if you do not use your "credit" too. I have a friend with poor credit, that could buy and sell me many times over. He pays cash for everything so he has a low rating. You need to exercise your credit once in a while to keep it current. Next time you buy a car, even if you can afford to pay cash, borrow the money.

[adayrider]

Correct! I refinanced my house a few years back. The bank noticed I have quite a few credit cards from differant retailers, plus a couple CC companies. I use only one of the CC companies and cut up the others when they send me new cards. I mentioned closing the accounts to the banker and was told that it was a bad idea. It looked very favorable on my credit report to have all that available credit, with zero balance. If you can control it, more is better. If not, use cash!!
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Asking a Banker about finacial (credit) advice is like asking a dealer if he thinks you need a new bike. HE makes his living loaning money what do you think he's going to tell you. 
No offense but that is not very smart. Just like asking my dog if he is hungry as I hold a new york strip just above his head.
Yeah right finance a car even if you have the cash. Let me get this straight he wants you to take out a loan at 6-8-10-12-18% interest as the value of the car goes down the drain And then put your money in a savings account at 3%. I wonder who is making out on this one. LOL Do what you like but this is a stupid move. This one of the reasons this country is in the mess it is in. People actually listen to this crap.