Yet another financial question

[JGood]

[rwh11385]

Do it yourself, unless you want to spend me all your info incl SS#.

http://www.myfico.com/Products/ScoreWatch/Description.aspx

Free.

[Turf1600]

[rwh11385]

go to myFico and get your report. you get the pluses and minuses of your credit history, like

"You've shown recent use of credit cards. - Your FICO score evaluates your mix of credit cards, installment loans and mortgages. People who demonstrate responsible use of different types of credit are generally less risky to lenders. You helped your FICO score by showing recent use of a credit card."

[thectrlguy]

I thought you were some kind of "high roller" the way you talk..... but if that's what it takes, I'll gladly cough up the cash to run your report...

PM me your details....

You are a moron.... face it... Based on all the shit you have written, I figure you are recovering from a bankruptcy, and feel the need to overcompensate....

And like I said earlier.... fuck the credit score, let's compare bank statements.... I'll bet I have 10 times the cash (and I mean cash) you have...

Let me know,

I was hoping one of you guys would bite. Guess you're not very confident in my shortcomings afterall. I'll take it as a compliment.

[moatilliatta]

it funny how much shit is based around credit. Ive paid for everything cash. im 20 and live at home and have 2 cars. and some toys and a college kid. Whenever i get a house i so want to pay for it cash.. but i dont see it happening. fuck banks.

[Rigmaster]

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Thought this was a bit overdue....


You guys are all such big ballers, I'm embarrassed to even be on the same interwebz forum with you..................I'm just not worthy of your financial wizardry.



But seriously- some people can handle credit cards and some cannot. It's those who cannot handle them AND DON'T KNOW WHY that are in trouble. You guys kill me with your blanket statements "blah blahs are evil and cannot be trusted" or "you're a moron for doing it that way".....WTF!??? Each person's situation is different, and each person's priorities are different. If you've got a method that works for you, then that's just peachy- but don't expect it to work for everyone else.


Sounds like someone got their feelings hurt by an R3V lowballer, and they just can't let it go........


The horse is dead, time to stop beating it (I know- an impossible thought for most of you)....





ps- mods, can we PLEASE get a Rodney King smiley????????

[RobertK]

I would only like to inject the following statements.

1. Keeping a high FICO score is only good for one thing.. to continuously borrow money and stay in debt.

2. Rich people save and spend cash on income producing assets, Middle class people spend their income paying back credit used to buy things they think are assets but are really liabilities, and poor people spend everything they make on personal expenses.

3. No millionare has ever been quoted as saying their money making breakthrough came from their awesome credit card rewards.

It's no secret. Buying everything with credit has become the mantra of the middle class.

[Turf1600]

I would only like to inject the following statements.

1. Keeping a high FICO score is only good for one thing.. to continuously borrow money and stay in debt.

2. Rich people save and spend cash on income producing assets, Middle class people spend their income paying back credit used to buy things they think are assets but are really liabilities, and poor people spend everything they make on personal expenses.

3. No millionare has ever been quoted as saying their money making breakthrough came from their awesome credit card rewards.

It's no secret. Buying everything with credit has become the mantra of the middle class.

ding ding ding ding

Rig, I agree. This is ridiculous. I've tried to end it a few times but personal attacks keep pouring in. It went from being financial to personal in an instant.

[thectrlguy]

Still willing to pay for your credit report....

ding ding ding ding

Rig, I agree. This is ridiculous. I've tried to end it a few times but personal attacks keep pouring in. It went from being financial to personal in an instant.

[thectrlguy]

Who ever said it was a "money making" scheme? We all spend money, day to day.... why not get something in return? If you can't see that, you have lost your mind...

3. No millionare has ever been quoted as saying their money making breakthrough came from their awesome credit card rewards.

It's no secret. Buying everything with credit has become the mantra of the middle class.

[Turf1600]

lol - how's a bank statement sound? I print screened one this morning to post and forgot about it. Every time you run your credit it impacts your score.

Yeah, I'm not the richest man in the world - but I'm working on it. I'm sure you'll beat me in the money area because you've got years on me.

[JGood]

Middle class people spend their income paying back credit used to buy things they think are assets but are really liabilities

That's obviously a shot at the middle class (which is the majority). It also makes no sense. What you meant to say is the majority of middle class spends their income paying back the liabilities for items that are not assets. Which is still wrong.

Your 50" TV, computer, home theater system, etc... are not liabilities. Once payed off, whether at the time of purchase or the end of the month, are not a liability nor do they create a liability. They also are an asset, depending on how you use them - although possibly an intangible one (the value of sitting down to relax behind your TV...)

This isn't a debate on what to spend money on and living within your means, it's about using credit cards.

Just because you read articles and books detailing a way to pull you out of debt and live within your means doesn't mean that's the only way to live.



I'll repeat myself from the 3rd page...

What works good for you may be bad for someone else, and vice versa.

[Turf1600]

That's obviously a shot at the middle class (which is the majority). It also makes no sense. What you meant to say is the majority of middle class spends their income paying back the liabilities for items that are not assets. Which is still wrong.

Your 50" TV, computer, home theater system, etc... are not liabilities. Once payed off, whether at the time of purchase or the end of the month, are not a liability nor do they create a liability. They also are an asset, depending on how you use them - although possibly an intangible one (the value of sitting down to relax behind your TV...)

This isn't a debate on what to spend money on and living within your means, it's about using credit cards.

Just because you read articles and books detailing a way to pull you out of debt and live within your means doesn't mean that's the only way to live.



I'll repeat myself from the 3rd page...

What works good for you may be bad for someone else, and vice versa.

Are you arguing that consumer electronics are assets?

If so, they are rapidly depreciating assets. compound that with the interest *SOME* people pay and it turns out to be a very poor financial decision - and a liability.

[JGood]

Are you arguing that consumer electronics are assets?

They can be intangible assets, not having a dollar value but having a value or pleasure to the owner (intangible). This is actually exactly what I said in my post, not sure what wasn't clear.

If so, they are rapidly depreciating assets. compound that with the interest *SOME* people pay and it turns out to be a very poor financial decision - and a liability.

That makes no sense. An asset is something with future economic value. A liability is an obligation.

Please do explain to me, how a TV becomes a liability when payed off. I never said anything about not paying off the liability (initial purchase price) and instead, letting it compound like a fucking idiot (most of America?). Don't forget, some people do pay their credit card bills as they get them (or, pro actively, a few times per month, like me).

My point was this is not a debate over what you spend money on.