I've given up on getting a good credit score

[A Tribe Called Quest ™]

What is your credit limit??

I personally try to pay a little during the month to keep my credit utilization down because I use my credit card for everything and keep my money in my bank. So I pay a little during the month to keep that low for when the statement comes my utilization is low (keep it between 5-10%).

$500, but the minimum is never shown until it's time to pay for the date that I set at the end of the month (which I just pay all that's on my credit card). I use to my credit card to a certain extent, but usually it ranges to $60-$200 a month

 

[GoFlipAPack]

Anything over about 720 is going to get you the best interest rates possible. Stop it

Unless you are about to buy a house or a car TODAY. Those little credit score swings mean nothing.

I didn't know the bolded. I was always taught to work so you can get the highest score possible.

 

[GoFlipAPack]

Put sumthin on it


Just enough to keep the lights on

Yep this is the way to go

 

[Deflatedhoopdreams]

I didn't know the bolded. I was always taught to work so you can get the highest score possible.

I mean yeah but paying off debt and it dropping some points doesn’t mean shyt. Those little swings that aren’t because of something really bad don’t mean shyt

 

[Money Be Green]

Credit shyt a joke . Im buying everything straight cash homie or putting it somebody else name

 

[GoFlipAPack]

I mean yeah but paying off debt and it dropping some points doesn’t mean shyt. Those little swings that aren’t because of something really bad don’t mean shyt

I guess your overall credit usage is what they really care about. Debt to income ratio and all that

 

[Deflatedhoopdreams]

$500, but the minimum is never shown until it's time to pay for the date that I set at the end of the month (which I just pay all that's on my credit card). I use to my credit card to a certain extent, but usually it ranges to $60-$200 a month

Correct. But your utilization what they are looking at so. When that statement comes at the end of the month you want to have it say $10 out of $500 owed(if possible). You have to play the game with it if you are going to use it heavy but have the money.

My credit went from the low 500s to 700 in less than 2 years from doing this.

 

[Deflatedhoopdreams]

Credit shyt a joke . Im buying everything straight cash homie or putting it somebody else name

shyt if you can do that for the rest of your life.

 

[A Tribe Called Quest ™]

Correct. But your utilization what they are looking at so. When that statement comes at the end of the month you want to have it say $10 out of $500 owed(if possible). You have to play the game with it if you are going to use it heavy but have the money.

My credit went from the low 500s to 700 in less than 2 years from doing this.

damn ok bet this is good to know bro, I might have fukked up a little a bit to start with this credit card shyt but luckily I'm still in college so I have time to fix this

 

[Deflatedhoopdreams]

damn ok bet this is good to know bro, I might have fukked up a little a bit to start with this credit card shyt but luckily I'm still in college so I have time to fix this

Yeah just keep it as straight as possible. shyt happens but control what you can control when it comes to that stuff. Because these cac companies will tax you out the ass for everything if you have bad credit

 

[Geek Nasty]

Yeah just keep it as straight as possible. shyt happens but control what you can control when it comes to that stuff. Because these cac companies will tax you out the ass for everything if you have bad credit

That’s it. Bad credit == paying more. The secret to the US for black men is keeping your rap sheet and your credit clean. Don’t give them an excuse.

 

[CarmelBarbie]

You should give up on making new threads too breh

 

[dtownreppin214]

Look up Texas Debt Validation Letter. Used that a few years ago to get all my shyt knocked off without paying a dime.

 

[dark_magic]

I paid everything on time for years. Letting debt fall off etc yet every little thing that can happen Damn near brings my score bacc down to where I started. At this point I don't even care anymore


Increasing your income > good credit

5 factors that affect credit scores:

1. Payment history
2. Credit utilization
3. Length of credit history
4. New credit
5. Credit mix

Credit is leverage. I can't stress the aforementioned sentence enough.

I like to have a multiplicity of credit instruments such as credit cards, HELOC, PLOC, etc. Keep the accounts for a long time. Pay your bills on time. Use credit, but not too much. Keep your payments in interest low.

You can undergird your credit system with high cash value life insurance which, in time, you can totally avoid and abandon banks and third party creditors or you can use it as a fail safe and bailout from external creditors when needed.

Depending on how you organize your cash flows, contracts, and accounts; you can leverage both the cash flows and credit to have a high credit score, acquire more credit, crush debt, minimize total interest costs, and acquire what you desire from the market with ease.

 

[Hacksaw Jim Thuggin]

I paid everything on time for years. Letting debt fall off etc yet every little thing that can happen Damn near brings my score bacc down to where I started. At this point I don't even care anymore


Increasing your income > good credit

I agree with this.

With cash you don't sweat credit checks at all