Good way to improve your credit score.

Chula Vista · 06-16-2018, 09:57 AM

Quote:

Originally Posted by grindy

Even cars.

It's a shame that most folks can't take a ride on the same boat as you.

I'd wager that less than 2% of people are able to purchase cars outright with cash.

The other 98% have to lean on lending. Suckers.

OccultHawk · 06-16-2018, 10:16 AM

My car wrecked my credit as much as anything. Repairs I couldn’t afford but couldn’t get to work without.

1) Automotive
2) Family Emergencies
3) Medical
4) Veterinary

Ugh

**Frownland** · 06-16-2018, 10:16 AM

Experian, Equifax, and Transunion are legally required to give you a free copy of your credit report every year. Space all three of them out over the year to check for errors as they come. Here.

OccultHawk · 06-16-2018, 10:24 AM

Quote:

Originally Posted by Frownland

Experian, Equifax, and Transunion are legally required to give you a free copy of your credit report every year. Space all three of them out over the year to check for errors as they come. Here.

My advice to young people is to either accept they’re going to end up ****ed and just live or save. Good credit is good but actually accumulating wealth is the ticket. Live under your means and save every month.

I’m hesitant to even advise buying a home or investing in a degree.

Put it this way, I wouldn’t recommend buying a house you don’t really want just as an investment. Same with college.

Signed,

Worst Financial Advisor Ever

Chula Vista · 06-16-2018, 10:33 AM

We were very lucky in that we bought for $172K back in early 1998 when the bubble was taking a nap. Value sky rocketed over the next few years up to $500K until the crash of 2007-2008 when it plummeted by a quarter million bucks. Very slowly recovered and we sold this past March for over $300K more than we paid.

For every story like mine there's 9 others that don't turn out well at all.

Again, lucky. And grateful.

Ol’ Qwerty Bastard · 06-16-2018, 10:38 AM

Quote:

Originally Posted by OccultHawk

My advice to young people is to either accept they’re going to end up ****ed and just live or save. Good credit is good but actually accumulating wealth is the ticket. Live under your means and save every month.

I’m hesitant to even advise buying a home or investing in a degree.

Put it this way, I wouldn’t recommend buying a house you don’t really want just as an investment. Same with college.

Signed,

Worst Financial Advisor Ever

yeah, i strongly disagree. i’ve seen people at my work who bring in 10 times the money any of us do, but are unable to buy a vehicle because the bank won’t touch them. if you’re a multi millionaire then maybe you can just buy everything out, sure. but if we’re talking someone bringing in a few hundred thousand every year, nah you’re ****ed without good credit.

OccultHawk · 06-16-2018, 11:35 AM

Quote:

Originally Posted by Ol’ Qwerty Bastard

yeah, i strongly disagree. i’ve seen people at my work who bring in 10 times the money any of us do, but are unable to buy a vehicle because the bank won’t touch them. if you’re a multi millionaire then maybe you can just buy everything out, sure. but if we’re talking someone bringing in a few hundred thousand every year, nah you’re ****ed without good credit.

Let me know if they’re in the market for a Buick (that runs)

Ol’ Qwerty Bastard · 06-16-2018, 11:53 AM

i’ll be sure to pass that on

Trollheart · 06-16-2018, 01:11 PM

Quote:

Originally Posted by OccultHawk

Let me know if they’re in the market for a Buick (that runs)

Only downhill though....

YorkeDaddy · 06-21-2018, 03:48 PM

This was an interesting topic to read through so I'm bumping it 5 days later

I was a titanic fool in my early-mid college years. We're talking ignoring daily calls from Discover demanding I pay my past due balance levels of foolish. I didn't even realize the repercussions, which is of course my own fault but also god damn those kinds of things need to be required curriculum in schools. Also why did my parents not warn me, I mean jesus. I only had one credit card but it was maxed out and I could not even make the monthly payment of $35 without asking for help from parents/whomever considering I was a full-time college student and was also working as many hours as I could take without going full-blown insane and still had to live off of like $50 a week after rent/utilities.

Anyway my credit score was pretty atrocious for a while obviously but now that I've grown into a reasonably responsible adult (I still make some stupid purchases here and there but I never miss payments!), I've gotten my score way up to a currently Credit Karma-estimated 696, which feels pretty nice. It's not the best score but it's good enough to make me not a complete biohazard to banks. Definitely on the lookout to make some big purchases in the next couple years too like a house potentially by 2020. Bought an engagement ring a month ago which I'd like to have paid off within a year, and then I have a credit card with a small balance of like $400 and another credit line with about $1100. If I can pay all that off by next year the only debt I'll have to worry about is student loan debt...which...is massive so it's not like I'll be out of the woods, but...yeah...

06-16-2018, 10:16 AM	#2 (permalink)
OccultHawk one-balled nipple jockey Join Date: Dec 2010 Location: Dirty Souf Biatch Posts: 22,006	My car wrecked my credit as much as anything. Repairs I couldn’t afford but couldn’t get to work without. 1) Automotive 2) Family Emergencies 3) Medical 4) Veterinary Ugh __________________ 2016 2017 2018 2019 2020 Member of the Year & Journal of the Year Champion Behold the Writing of THE LEGEND: https://www.musicbanter.com/members-...p-lighter.html

06-16-2018, 10:16 AM	#3 (permalink)
Frownland SOPHIE FOREVER Join Date: Aug 2011 Location: East of the Southern North American West Posts: 35,541	Experian, Equifax, and Transunion are legally required to give you a free copy of your credit report every year. Space all three of them out over the year to check for errors as they come. Here. __________________ Studies show that when a given norm is changed in the face of the unchanging, the remaining contradictions will parallel the truth. d e a f b o x

06-16-2018, 10:33 AM	#5 (permalink)
Chula Vista Toasted Poster Join Date: Oct 2014 Location: SoCal by way of Boston Posts: 11,332	We were very lucky in that we bought for $172K back in early 1998 when the bubble was taking a nap. Value sky rocketed over the next few years up to $500K until the crash of 2007-2008 when it plummeted by a quarter million bucks. Very slowly recovered and we sold this past March for over $300K more than we paid. For every story like mine there's 9 others that don't turn out well at all. Again, lucky. And grateful. __________________ “The fact that we live at the bottom of a deep gravity well, on the surface of a gas covered planet going around a nuclear fireball 90 million miles away and think this to be normal is obviously some indication of how skewed our perspective tends to be.”