Yet another financial question

[rwh11385]

But you won't take that risk.

I'd rather not pay for someone's credit score than not take the "risk" of having a credit card with rewards because I'd scared.

Go on and keep on living your excuse for a life... and stop letting everyone know how much of a straight-edge chicken shit you are

[Turf1600]

I said I've only had one credit card - which has not been cancelled. I have no negatives on my credit - 2 paid off cars- and a couple of other loans. 4 1/2 total years of credit history. I also have a Loews card on my report which belongs to my parents. It has no balance - so I haven't written to each ageny to have it removed.

If you want to end this - pay for my report and I'll either be wrong or right. If not, we can agree to disagree. The ball is in your court - you can hammer me royally if you believe I can't back it up. But you won't take that risk.

[rwh11385]

I'd believe low to mid 700's. If you've got no credit save for a home loan, no, you don't have a 800 rating.

-Charlie

+1. No credit history, at least revolving accounts.


800+ is reserved for people with a variety of credit accounts and years of on-time and low-capacity balances... not a n00b with no use of credit card and a single mortgage.

The more you know read, the more you'll find out psloan you don't know shit.
http://www.creditunions.com/home/art...rticle_id=2106
Score is affected by length of credit history (not much for you) and variety of accounts

http://www.myfico.com/CreditEducation/WhatsNotInYourScore.aspx

And you mention rent on time for two years and employment... which could have helped with underwriter but is pointless for FICO

What is Not in Your Credit Score
Your salary, occupation, title, employer, date employed or employment history.
Any items reported as child/family support obligations or rental agreements.

[Turf1600]

This is silly guys. In reality, our opinions differ very slightly. I choose security over CC perks. Woopy fucking doo. All things equal - we'll end up in the same place financially.

Jean - we all agree - don't spend more than you make. If you spend on a CC, have the money in the bank ready to write a check and you'll have no problems. Just please have an emergency find so you never have to pay interest.

[Turf1600]

when I had my credit run to finance my house my median score was 790.

[Charlie]

Willing to pay to find out?

I'd believe low to mid 700's. If you've got no credit save for a home loan, no, you don't have a 800 rating.

-Charlie

[Turf1600]

You're lying out your ass dude.

-Charlie

Willing to pay to find out?

[Charlie]

How's 805 sound?

You're lying out your ass dude.

-Charlie

[Turf1600]

I'm almost tempted to run a credit report for you. If you're willing to pay for it I'll run the report - but I know you don't want to go there.

[rwh11385]

How's 805 sound?

The day you guys pay a dime of interest you're all hypocrites.

Like a lie.

Sure, but most don't plan on that ever. And save hundreds if not thousands (flights to Europe) by responsible spending with credit cards. Just because you are too much of a waffleswaffleswaffleswaffleswaffles to "risk" your frugal lifestyle you boast about doesn't mean smart people can't take advantage of the opportunity.

[Turf1600]

How much you frugal bastard? btw to get a score you'll probably have to pay money for the score. Credit reports have to be free to consumers, but not the score...

Unless you are within 100 points of the maximum score, save your crumpled up dollar bills in your pocket.

http://www.tightwad.com/

There you go, save pennies a day while normal people enjoy their leisure time.

How's 805 sound?

The day you guys pay a dime of interest you're all hypocrites.

[rwh11385]

I kept the older ones open, just closed the fairly recent accounts instead. I still have some that date 5+ back and they are open, and few not even used. I figured that it's better to keep some open, just not to use them and pay them off instead...

in the future, keep em open like someone mentioned before as closing recent ones will hurt your credit score. an open 'idle' account will not hurt but being quick to shut down cards will.

AFAIK cycling 20% of the limit is pretty good for you, which if you have a $10K limit on a card with 1-3% rebates would give you back $20-60 a month ($240-720 a year) with your normal monthly expenses (lunch, dinner, groceries, clothes, etc.) The trick is to keep from spending more than you would with cash - and what conspiracy theorists rave about.

IMO, having a few cards - one for major necessary purchases and emergencies (fridge, microwave, travel, whatever) and then one for daily goods will help you track how much you spend. If you have a potential purchase that you don't know if you should make, don't. Or just have a "fun" card for bars, etc. and be sure that isn't too much. If it is like my bar card, it is easy to see when too much is going towards such things as the only thing on it is liquor stores or bars. Just remember to check them and pay them (direct pay from checking is quick and easy) - I have my BMW card and Chase on my Firefox Toolbar links, as well as my main bank account.

if you purchase any car parts on your "fun" account, then you will easily see when you are out of hand. (I don't buy any car parts anymore so not an issue) unlike a single large account where it may be buried in with the normal day to day items and then catch up to you. also make your fun account your lowest limit.

everyone has their own system but maybe something like that will help divide and control your spending, if you go about with credit cards still.

[Jean]

psloan is just a moron.

Jean, you closed 2 accounts? How old were they? it's bad for your credit history if you closed a credit card account too soon (2 years??) so just fyi in the future just shred the card and remind yourself to close it down the line.

just stop using your cards altogether if you can't handle spending money you don't have just because you "can". you can't spend cash you don't have

I kept the older ones open, just closed the fairly recent accounts instead. I still have some that date 5+ back and they are open, and few not even used. I figured that it's better to keep some open, just not to use them and pay them off instead...

Anyway, I'll figure it out, I just need to spend less that's all.

[rwh11385]

Ironically, I'm actually willing to put money on the fact that I have a higher credit score than any of you guys.

How much you frugal bastard? btw to get a score you'll probably have to pay money for the score. Credit reports have to be free to consumers, but not the score...

Unless you are within 100 points of the maximum score, save your crumpled up dollar bills in your pocket.

millionaire next door

http://www.tightwad.com/

There you go, save pennies a day while normal people enjoy their leisure time.

[rwh11385]

You're breaking it down so precisely that according to you - the only difference is that you get free flights.

Screw free flights. BMW Financial gave me free money. Spend $150 in December and get $50 credit (only pay back $100).

Would I have spent $150 on booze and bar tabs without this evil marketing scheme (yeah, it would have just been on another card).

Mother pays off Sisters' housing with Discover card and gets money back (i.e. costs less) since she doesn't get as many scholarships as myself... oooooh, once again free money - it's so evil.

Tell me - if all you get is free stuff from these credit card companies - how do they stay in business?

They make money off idiots that spend money they don't have, rather than people who are responsible and use credit cards to their advantage.

Do I spend more with my GAP card than I do with cash? No - I hardly remember if I have it on me or not until at the register... but do I get free $10 off or 10% off cards in the mail? Yes. Does this to encourage me to spend more than I previously was planning? Not really - it just reminds me I could use more pays of boxers since your wife tore mine off.

I am sorry you are too afraid to use credit cards or take any risks. Please spend the $3 on a box of aluminum foil so you can make yourself a nice little hat while you are at it. I am also sorry you life is so pathetic and boring you try to be a hardass know-it-all because you read a Dave Ramsey book and think you're cool because you are scared of a 3" x 2" piece of plastic.