Credit score system getting exposed

[SleezyBigSlim]

Of course it's a scam it only benefits them dirty cracka as usual.

She got them tig ol bitties

 

[MR. SNIFLES]

Had no idea credit scores were so recent

THEY AREN'T. BANKS JUST HAD INTERNAL SCORING SYSTEMS. THEY STILL DO. YOUR CREDIT CAN VARY FROM ONE SCORING MODEL TO ANOTHER. ON TOP OF THAT, THE BANKS DON'T REALLY USE THEM.

CREDIT SCORING MODELS ARE JUST A SEMI TRANSPARENT MEANS TO DENY YOUR APP IF THEY CHOOSE. THEY CAN IGNORE YOUR REPORT AT ANY TIME AND APPROVE YOU BASED ON THEIR INTERNAL SCORING MODELS.

 

[MasterOfAllHeSurveyz]

If you're only making 30k with an 850 score it doesn't matter because your salary is not enough to be independent. You're living with someone else. Maintaining a high credit score is very stressful on low income individuals. Investing in a credit score is not investing in you.6r wealth

I bought my first house in '98 making only $18.6k a year which is about $33k in today's dollars. I didn't buy a McMansion. It's a 2BD/1B @ 1.1k/SQFT. I was so ignorant; I didn't even know I qualified for a VA loan as I only thought it applied to combat vets and retirees only.

 

[CashmereThoughts]

This was one thing that confused me. I have a low % and they say it's good, but then you hear 30% and that didn't make sense to me, and it wasn't something I was planning on doing.

I have no idea why “30%” is still stated to be the magical number. Credit Karma is promoting that till this day.

I knew better because I learned the credit game from YouTube and because I monitor my shyt and I feel them points when my utilization goes from 2% 5%.

We also know that new FICO scoring models will hold your utilization for the past 24 months against you so your score doesn’t shoot up if you pay everything down

 

[IWasntMadeToPlayTheSon]

Eh just pay your bills on time and you’ll be good

A lot of nikkas big mad at this lol @kp404 @Feel Good Lost @$cam-U-Well_Jack$on @PCHMalibu @bnew

 

[Pull Up the Roots]

A lot of nikkas big mad at this lol @kp404 @Feel Good Lost @$cam-U-Well_Jack$on @PCHMalibu @bnew

How race affects your credit score.

 

[Thegospel]

With how much yall cry on here how yall own these houses and got all this 6 figure talk? Something ain't adding up

 

[Robo Squirrel]

In.

 

[OperationNumbNutts]

Eh just pay your bills on time and you’ll be good

Actually a person could pay their bills on time consistently and still have a low credit score. If you ever take the time to learn it you'll understand high credit scores are given to people who don't need it.

 

[OperationNumbNutts]

Credit scores are an equalizer. The point system works the same for everyone so now if banks try to deny qualified blacks we can sue.

That isn't how the game is played. For years it has been reported that black could have good credit scores compared to whites and still get a higher interest rate on their mortgage.

 

[UberEatsDriver]

I understand redlining and loan officers flat out denying qualified black applicants mortgage loans, but this sounds like bullshyt from the dude in the vid.

The ECOA was signed into law in '74. Credit scoring wasn't invented in '89 as it's been in existence for over 100 years with Equifax being founded in 1899 and TransUnion and Experian's original company being founded in '68. What was invented in '89 was the FICO score which was almost a generation later (15 years) than the passage of ECOA. The company that created the FICO score has been in existence since '58. FICO didn't get big until '96 when Fannie Mac required all mortgage lending to use it.

My grandparent's loan/settlement statement for their home (bought in '52) had a credit score on them ranked from Poor to Very Good. Attached to my parent's HUD-1, is the bank's statement of my parent's credit worthiness from when they purchased their first home (first quarter of '96) before the FICO requirement went in effect for all mortgages.

This is exactly why people shouldn’t take history lessons from liberal tick tockers who are young smh lol

 

[UberEatsDriver]

Actually a person could pay their bills on time consistently and still have a low credit score. If you ever take the time to learn it you'll understand high credit scores are given to people who don't need it.

A person can pay their credit card bills, car loans, and loan payments on time and still have bad credit?

I would say the lowest you’d have is fair credit since utilization is 30% so despite paying that on time if you have over 30% that can tingle with your score

Not likely

 

[BigMoneyGrip]

This is just another reason why they're making anti-CRT legislation a priority

Mans quoted red dead redemption

But is 100% facts

This very government operate on debt to function.. Let that sink in… China owns damn near all of our debt… The day when China call their shyt in the U.S is in no position to pay it back but knowing these cacs they gonna want to go to war before they pay that shyt back… Yet banks don’t want to give a working black family with combine income of 150k or better yet they will give a cac who makes 40k a year a mortgage with the quickness..

That’s why I fukks with credit unions… Never looked back, I’m on my second mortgage now with 2 properties and allowing one to generate income

 

[BigMoneyGrip]

This is why people get frustrated talking to these goofy ass boomers. They think people are just lazy now and need to work 7 jobs. While they literally funded a whole family life with one 40 hour a week job.

Levittown Long Island

 

[BlackBall]

Levittown Long Island

Some of biggest scumbGs in NY