Two Points from Perfect Credit

The Plain Dealer reports that Tom Pavelka has a credit score that “ranks higher than 100 percent of U.S. consumers.” Even the credit reporting agency can barely believe it…

“I don’t know anybody who has a perfect credit score,” said Rod Griffin, director of public education for Experian, one of the three major credit bureaus, whose California company provided the basis for Pavelka’s score.

“It’s almost impossible to have a perfect credit score. If you use credit and you have debt, there’s always some risk you will not be able to repay it,” Griffin said.

Pavelka doesn’t obsess about his credit, though, and said he doesn’t know when he last checked it. He spends a lot – he has a mortgage, an equity line of credit that he “usually uses to buy cars” (he has seven, including a few classic sports cars) and eight credit cards. But he lives by three rules:

1. Never charge something without having something to show for it.
2. Never spend money without knowing when you can repay it.
3. Pay your bills on time.

Check out the full story to hear about the man The Plain Dealer calls “a financial paradox.”