Do you know your CREDIT SCORE???
- Thread starter SONNY
- Start date
Shamocha
Deserving Of Everything
Yup, I sure do. I have the monthly monitoring and get all 3 scores every month. You also need to pay attention to what "score" some of these companies are giving you. Some give you the actual score from the bureaus, and some give you a score THEY have calculated based off your info from the bureaus.
buckwheat
Well-Known Member
Don't you hate that? I get a lot letters from companies to take a line of credit. I shred the letters.
Da_Sperm
New Member
I mentioned this about 2 years ago, but the closer your credit score is to ZERO, be better off you are.
The high credit score simply means you are good at paying people you owe. If you credit score is zero, that means you don't owe anybody SHAT!.
Now, I'm not saying get a low credit score by any means. I'm saying pay everybody off and don't get back into any debt.
The high credit score simply means you are good at paying people you owe. If you credit score is zero, that means you don't owe anybody SHAT!.
Now, I'm not saying get a low credit score by any means. I'm saying pay everybody off and don't get back into any debt.
buckwheat
Well-Known Member
That would be nice sperm, but being realistic If you buy or borrow you are going to continue have something on your credit.
Da_Sperm
New Member
TRUE, but you said it. If you borrow, you will have something on your credit. If you buy outright, it never shows up. I think its something to strive for.
GSU4LIFE
Active Member
Outside of owning a home, it can be done.
Da_Sperm
New Member
I know it can be done. I'm from El Dorado, AR and I didn't see a credit card UNTIL I got to college. Not one person in my family every bought anything on credit (house, car, etc).
My grandmother lived to be 93 years old and I'm willing to bet she probably didn't even know her social security number. They just never even considered borrowing money for anything (house, car, clothes, vacation, etc.).
nevaehinvesting
Active Member
Credit is great if you know how to use the system.
Take real estate for example:
Over 90% of America's self made millionaires got their money though real estate. Some of them can now pay cash for just about anything but they know it's smarted to let other people's money work for them. It's often smarter to use credit and other people's money for certain transactions.
Instead of paying $100,000 cash for a rent. They put $10,000 down payment on 10 different houses. That's what credit will allow you to do.....good credit that is.
The credit system is great if used right, but bad if you misuse it. Great if used for investing, emergencies, etc BUT bad if used to buy stuff you should'nt buy and pay back. You will be tagged with a score from 350 to 850 for the rest of your life as soon as you charge. The other option is to always pay cash for everything.....everything!
Good credit is like life insurance. Not everybody needs it, especially super rich people. The rest of us should probably maintain high scores.
Take real estate for example:
Over 90% of America's self made millionaires got their money though real estate. Some of them can now pay cash for just about anything but they know it's smarted to let other people's money work for them. It's often smarter to use credit and other people's money for certain transactions.
Instead of paying $100,000 cash for a rent. They put $10,000 down payment on 10 different houses. That's what credit will allow you to do.....good credit that is.
The credit system is great if used right, but bad if you misuse it. Great if used for investing, emergencies, etc BUT bad if used to buy stuff you should'nt buy and pay back. You will be tagged with a score from 350 to 850 for the rest of your life as soon as you charge. The other option is to always pay cash for everything.....everything!
Good credit is like life insurance. Not everybody needs it, especially super rich people. The rest of us should probably maintain high scores.
jelli
Music Lover
You can put a block on your credit to keep those companies from scanning your credit report and sending you all that junk mail.
I plan to request my credit report with the score from the 3 credit agencies in next couple of weeks. I used pay one of those credit monitoring place butI figured I could do it myself and save my $9.
This is Dave Ramsey's philosophy. He says you don't need credit if you pay cash for everything.
Da_Sperm
New Member
I read so much, I just can't remember where I read that. Who is he and what is he known for?
you ain't up on dave ramsey???
anyway google him, he gives seminars on being debt free etc, etc.
pv_symbiotic
Ghetto Bourgeois
Damn-n I don't know mine. It changes every 2 months.
chocalate_topaz
I wanna be your lover...
Yep.
JaguarNation99
That's Dr. JN99 to you...
Exactly, somehow we get caught up in the concept that debt and credit are somehow inherently evil, when in fact they are two of the major driving forces of capitalism.
nevaehinvesting
Active Member
I sell houses. The saddest thing that keeps repeating itself every month is when nice families come in and get excited over a house, the kids pick out their bedrooms, the parents are making decorating plans, the grandparents are happy, but then you pull their credit and it's like 
:smh::xeye::smh: because they have bad credit.
They send the friends to you to buy a house and their friends have bad credit too. Or no credit, which is often just as bad. It's most sad when it's people in their 40s & 50s. :smh: You almost want to buy the house for them.
The way this world system is set up, it would be hard to not use credit, especially if you ever want to do business with someone.
:smh::xeye::smh: because they have bad credit. They send the friends to you to buy a house and their friends have bad credit too. Or no credit, which is often just as bad. It's most sad when it's people in their 40s & 50s. :smh: You almost want to buy the house for them.
The way this world system is set up, it would be hard to not use credit, especially if you ever want to do business with someone.
SimplyRedd
Southernite
Yes, it's pretty good. I carry cash.
ToPdOg
Well-Known Member
He's a financial adviser, and has his own radio show. You can also get his podcast off iTunes.
jelli
Music Lover
www.daveramsey.com
He wrote the book "The total money makeover" and "Financial Peace" He has national talk and now a tv show on the FOX Business network.
He brings financial from christian perspective.
northern tiger
Active Member
Not trying to be funny, but he's the southern Suzi Orman. He came on Comcast cable for two hours during the weekdays in Nashville. What credit score is considered execellent? Does it start at 740 or 750?