Lets tlk about credit.
- Thread starter KOOL-AID
- Start date
Don't be late on any loans/credit cards, etc. and don't take out any unnecessary loans out. Do not file bankruptcy unless you absolutely have to. Manage your money, don't spend recklessly and overdraw your bank account. Save your money stupid. As far as leasing and owning, depends honestly. To me, leasing seems stupid but others could probably tell you good reasons to.
Important thing is avoid collections and anything that will hurt your credit cause its a bytch to have bad credit.
Important thing is avoid collections and anything that will hurt your credit cause its a bytch to have bad credit.
Ms.CuriousCat
All Star
Basically if you take a loan pay it back and on time
If you do
Banks want to give you money when they know you have it (by showing you can pay it back)
If you don't
Loans are actually not for broke people (ironically)
If you want to build it up, take a loan and pay it back (e.g. credit card), do that for a few months and you are solid.Never let anything get overdue
In the UK you have to be on the voting register so that there is a paper record of you
If you do
Banks want to give you money when they know you have it (by showing you can pay it back)If you don't
Loans are actually not for broke people (ironically) If you want to build it up, take a loan and pay it back (e.g. credit card), do that for a few months and you are solid.Never let anything get overdue
In the UK you have to be on the voting register so that there is a paper record of you
its a dumb system really..
make 1000 good payments on something but let 1 bill slip or some shyt and all of a sudden you a liability
example: my credit used to be A1 (its only decent now) but I got pulled over one time and I was moving, I told the cop DONT send the ticket to the address on my license, send it to the address im moving to. It was a bull shyt ticket anyway, he pulled me over for a "no right turn on red light" but there was no sign that said that (he said cause it was a construction zone is why there was no sign really just sounded like a bored rookie cop gettin his kicks off fukkin with people cause once the construction was done theres still no sign that says it there )
anyway this fakkit ass cop sends the ticket to the address I moved from so I never received it, but the state/county sure know how to find me at the address I told him I was moving to when its in collections
and in california once a ticket goes to collections, you cant fight it
so anyway at the time my credit was amazing, but because of that ticket (and now a few other things
) to the credit bureaus im a piece of shyt despite the years of on time payments 
make 1000 good payments on something but let 1 bill slip or some shyt and all of a sudden you a liability
example: my credit used to be A1 (its only decent now) but I got pulled over one time and I was moving, I told the cop DONT send the ticket to the address on my license, send it to the address im moving to. It was a bull shyt ticket anyway, he pulled me over for a "no right turn on red light" but there was no sign that said that (he said cause it was a construction zone is why there was no sign
really just sounded like a bored rookie cop gettin his kicks off fukkin with people cause once the construction was done theres still no sign that says it there )anyway this fakkit ass cop sends the ticket to the address I moved from so I never received it, but the state/county sure know how to find me at the address I told him I was moving to when its in collections
and in california once a ticket goes to collections, you cant fight it
so anyway at the time my credit was amazing, but because of that ticket (and now a few other things
) to the credit bureaus im a piece of shyt despite the years of on time payments 
isaygotdamn
Pro
...Technically you don't............
but com'n son you ain't gona do shyt in life if you don't got decent credit.
HookersandIceCream
#TeamOrange
how does this shyt wrk?? I took a personal finance class bike in hs dat went over this and interests, checks, leasing, bankruptcy etc. but i forgot most of what i learned. I need yall to break this shyt down to me, @Theraflu and any other banker brehs help.
This made my head hurt but you're a big talking bowl, so not sure what I was expecting
Live below your means
Save as much as possible
If you can't save up for it you shouldn't be buying it
Stay away from credit cards and loans (minus house loan)
Save as much as possible
If you can't save up for it you shouldn't be buying it
Stay away from credit cards and loans (minus house loan)
Yooooooo when I was younger I hit up the ER a few times no insurance and never paid the bills
Bad choice BREHS
8-9 years later and my credit is DECENT. Fair. Smh. If it wasnt for them youth mistakes
I would be eating even better right now
But all you can do is build it back up
Oh and nobody said it yet @KOOL-AID
But NO credit is like bad credit
Bad choice BREHS
8-9 years later and my credit is DECENT. Fair. Smh. If it wasnt for them youth mistakes
I would be eating even better right now
But all you can do is build it back up
Oh and nobody said it yet @KOOL-AID
But NO credit is like bad credit
Myfico.com the real score but u have to pay
Creditkarma.com free estimate
Creditsesame.com free estimate
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Credit-Scoring-101-START-HERE/td-p/8169 great basic explanation of scores
creditboards.com and ficoforums.myfico.com are good resources
Just start with a secured credit card to establish a credit history. The optimum strategy to increase your score as fast as possible is to maintain a revolving balance of less than 10% utilization, but it's really difficult to do. Just full pay every month if you dont have an pressing need for an immediate rise in your score, aka buying a house in the next 6 months. Whatever you do never get a payday loan!!! Just don't do it, no matter how bad u think u need the money.
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Bunchy Carter
I'll Take The Money Over The Honey
Only credit cars have credit; but to can credit a transaction to a debt card, which is a hold on your available finances in your checking account.
Since you have not opened up any line of credit you will not have a score. But it's good to check your history for fraud. The best thing for starting a line of credit is obtaining a credit car from a credit union. Get a card with a low credit limit of like 200 dollars something you can pay off fast. Since you have not opened up any line of credit you have a 0 rating; which is not bad, it just means you have not started to credit.
Your fico score range from 300-850 and since you have a 0 and not have started using your credit you are doing better than somebody that has a 300 fico. Things that determin you fico score includes: payment history, debt burden, length of credit history, types of credit use and recent searches. The messed up part is when you open up a line a credit; that also lowers your credit score, so you have to be careful when you decide to open something up.
Credit cards are great & have terrific benefits. You have credit cards that offer phone replacement, roadside assistance, reward points, etc. A lot of perks. I would only recommend them with people who are financially responsible & have self control though, which seem to be in the minority.
I have about 6 of them & pay them on time with low utilization. Credit score is about 797
I have about 6 of them & pay them on time with low utilization. Credit score is about 797