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Hehehe.. In November my Fico score was about 540. I had debts I never paid off since I got divorced back in 1993. I looked over my old debts and decided to pay off the non revolving debts. Things like an out standing gas bill (old renting partner had it reinstated in my name and then left me the bill. It was only $210 so I just paid it off to be done with it), an outstanding hospital bill of $620, etc. etc... Basically leaving the CC's and paying EVERYTHING else.
Fico score went up to 715 in January. Then I went back and checked my credit report and found that the hospital didn't remove my shit so I talked to them and they did. In Feb it was 728. Then in March I paid in full the debts on 3 cards. My score went DOWN to 645. I was like, WHAT THE FUCK! Aksed a guy who does lones for a living and lives and breathes this shit (for determining interest rates and risk of loans) and he basically said that when you repay back a fucked up situation that has been formant for so long (last report was a chargeoff in 1996) you basically make it a newly talked about bad debt. After 2 years I will be back above 700 if I Don't payoff the other 2 cards.... if I do I will be around 690... But if I do I can talk to the person underwriting the lone and inform them that I now make 3 times what I used to and have ZERO debt... 1 more month or so to ZERO debts... fucking yee-haaa! |
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Have you always had credit above 728 or have you cleaned up from past problems? |
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yeah, I feel ya... been there, done that. It sucks. But I tell everyone on the subject, there isn't one single magic cure... it's a combo punch. Keep the revolving down, but active. Larger loans, run them for a while, then kill them. I got a couple of large long terms I've been steady on for about a year that I'm getting set to nuke in about a month... the formula works.... 12 years ago I couldn't get anyone to even give me a pre-paid card. It was that bad. Now I got mutha fuckers throwin' credit at me. My score actually went down a few notches a couple months ago because I had too much 'available' credit. (crock of shit if you ask me). But I think the most important thing is just to keep things moving... keep shit active, don't go crazy, and every once in a while, show them you got what they want. Charge up $20k... pay a few months minimum payments.... then pay it off. A month later your limits will double. I have personal cards with $30k limits. It's obscene. |
oh, and is it true that when your FICO scores gets to "good", you start recieveing a bunch of CC offers in the mail??
I just got approved for a new apartment (in which they had to check my credit score) and now im getting CC offers in the mail LOL |
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12 years ago I was so fucked I couldn't get a cup of coffee on credit. Defaulted on student loans.... bankruptcy.... medical bills from hell.... I was the poster child for bad credit. |
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but the beauty is, I get to pick and choose what I want. No one has me under their thumb anymore. And if I call up one of my CCs and tell them I want a lower rate or I'm cancelling, they do it. Lower rates, no fees, higher limits.... this is what I was talking about.... power, leverage, & options. The more valuable you are, the better deals you get. |
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got a copy of my credit report, started paying shit off here & there, added a couple utility bills to my name, havent had any credit checks (which lower the score).......and then the boyfriend & i looked for a new apartment, they checked both of our credit scores (mine is better than his), and got approved. now all of a sudden, im getting credit card offers in the mail. and i havent got a credit card offer in the mail in YEARS lol thats why im curious. |
In a nutshell.... credit is important. VERY important.
And if you don't think so, you're missing the bigger picture. Credit affects you in nearly every way of your life. Think about it.... the ability to get whatever you want..... on nothing more than your name. and I'm not talking about charging your damn shampoo at Walmart. I'm talking about getting a screaming fucking deal on a $2 million dollar home for no other reason than YOU want it. And having 10 people bend over backwards to make sure you don't get a hangnail in the process. |
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otherwise it's just junk. |
640 8 chars
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Just checked and my score is 709.
I also bought a house a month ago. The mortage is still not in my credit report. I don't know if this will help or not my score. Anyone know? |
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I think I'm around 212.. is that good?
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748 with Equifax, 724 with Experian and 710 with Transunion.
Major issues that bring mine down a bit. I have no mortgage or car payments so there's no installment loans that are current. I have a line of credit that's large and mostly unused. I don't use alot of credit cards at all. I live by my debit card. |
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Cash is leverage. Credit is for suckers. It's a zero sum gain, the only one who gains are the banks. |
:1orglaugh everyones credit is like their cock size
way over exaggerated, after looking at 10's of 1000's of reports, brokering mortgages for 10 years, its funny how good people think their credit is |
pay you fucking bills on time i recently had a big drop because of a late payment i could have avoided
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Credit is for suckers? Is that why I live in a 2 mil house with a fuckin' pool, spa, pond, gated private community overlooking the fucking ocean, 2 brand new vehicles, a brand new jetski in my garage, and enough liquid cash to buy any fucking thing I want.... and you..... well who fuckin' knows what fleabag shit hole you live in Rich. |
Mine is only 697, but I'm working on it. :)
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funny thing when my credit score took a dive, one credit card company lowered my limit from like 32k to 22k
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bdjuf = equifax.com or .ca I believe. Not the same thing from my understanding.
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That's great Amp! Did you buy the house or are you renting? I remember a short while ago you had some personal issues.. I'm glad they have worked out for you! |
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lol, you know me too well. Nice Durango you had there, I'll probably buy something like that for my daughter when she turns 16. I'm glad you think living above your means on credit is a good thing, have fun with it. It's nice to have nice things, it sucks that you can't afford to pay for them. You'll never get ahead in life doing that. If you never pay interest on anything other than at worst your mortgages, it's like making more money. Interest is a sucker's game, yes. It's for people who don't have the discipline to save money and live within their means. Didn't your parents teach you anything? |
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The bank owns it. |
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lev·er·age n. 3. The use of credit or borrowed funds to improve one's speculative capacity and increase the rate of return from an investment, as in buying securities on margin. tr.v., -aged, -ag·ing, -ag·es. 2. To supplement (money, for example) with leverage. |
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in the last year and a half you have turned things around for yourself! |
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When I bought my current home last month, 770.
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the bank owned my first house too Rich..... but when I sold it, after a year and 7 months, I walked away with $385k.... the bank can "own" whatever they want..... as long as I make money on it. :) god you are a fucking idiot. |
720 and climbing :)
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Maybe it's time to display the "God, just shut the fuck up Rich" image (Don't remember the exact words) that you used for lil2rich4u2. |
Hey Amputate your Head, not relevant to your thread, but are you available to do paysite designs at the moment? I saw a really nice site with your logo on it the other day and was wanting to know if your available?
My icq is 5 2 1 1 0 2 8 3 thanks, |
Amputate. Can ya hit me up on ICQ when you have a sec. 222-549-540 Thanks man.
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The loan approval guy I know says I stress out WAY to much. I just talked to him about you being able to walk in and grab a car. He said I should be able to do the same thing after a few years of responsible credit is under my belt. But before then I CAN obtain the same outcome. I will just have to jump through hoops, like explaining what I do, comment on my responsibity over the last 4 to 5 years and that I have paid IN FULL all of my past obligations. He also said that I should mention this to everyone, "PAY IN FULL!" (not a settlement) because when you settle, it is only slightly better than having not paid at all. When you pay in full you show the underwriter that you will not ultimately claim bankruptsy. |
Rich, you have a point to some extent... If you want to buy a 4 plex to rent and don't have the money, you can get 'credit'. Then you can turn it and sell it for 30% profit, using that as a down on one you plan to keep and actually rent. If you USE credit to YOUR advantage then it can be a wonderful thing.
I bought a used Jeep Cherokee. Why used? Because I don't feel like paying $26,000 for a new one that will be worth 1/2 that in 2 years. I bought it on credit. And like Amp, I played THEIR game for about 8 months. Minimum payments. Then I called and asked what I owed if I paid in cash today and then went down and gave them the remainder. Doing it this way showes that I can pay payments on time and also that I pay my shit back. Also it shows that I can come up with decently large sums of money. Which means they can give me a new one next time and not worry. I wouldn't buy a TV on credit. Unless I wanted a higher limit on my card. Then I would and I would (and have) paid it off right away. I have zero balances on my credit cards unless I use them to buy shit and pay them off when I get home via online payments. A lot of people could learn a lot from what Amp has written. A lot of people can get the wrong impression of credit reading what you are writing, Rich. |
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