Anyways, credit means jack shit if its used in the wrong way. It's a tool, if used right, it will carry you far. if used wrong.... you'll have little things in your sig showing how deep you're in.
I put things in my sig to simply remind myself, as well as others, how you can use your credit responsibly and still fall into a hole.
I used my credit extremely sparingly until I decided to purchase a home. I had 1 credit card with a balance of $1000 on it when I bought the house. Then I bought a TV/Surround for the house (both of which are paid off), grille/gas, washer, dryer, house supplies, and paid for repairs (including the windows) to the house with my credit. My main problem with money right now was due to my mortgage unexpectedly rising because of someone elses miscalculation. I was living within my means, and making my payments easily until that happened, now I wish I'd just taken my extra means and thrown it into the rainy day fund. Constantly putting that money into new loan costs doesn't make any sense, since now the sub-prime lending is hard to come by.
My point is even if you can refinance, saving 1000s over 30 years nets you very little, IMO. If he's able to live well within his means I see no point in constantly refinancing or taking out new loans. If I was sitting there, and I should be once my exemptions kick in in July, then I'm going to pay down debt faster and get it off my back. Once my car payment is matured, I'll be sitting even better with another 250 back in my pocket every month. I'm stuck between the rock and hard place, he isn't. There really isn't a reason because he won't start to see the savings with all the loan origination fees, closing fees and all the other BS fees for a good while.
and yes Mr Moneybags, you work at a pizza place, you also just got another new car along with a semi-highly modified 350z toy, tv, yada yada for the house, oh and the house too. You're sitting pretty, don't go denying it.
