I'm 18...

[Kroze]

Originally posted by: BigJ

Originally posted by: Scouzer
both of my parents have phenomenal credit, but again i will stress i am not an approved user on their cards, nor am i on their credit in anyway or theirs on mine.

but i have had my own bank acct since i was 11 years old. so maybe thats helps, lol.

You have an artificially inflated credit score. You don't have any negatives to count against you (besides it being brief), but if you try applying for a respectable loan, you will be denied based on having no credit history.

A bank account has nothing to do with credit history.

yep. you're pretty much = to a so-called "ghost"...

so your score is useless.

 

[AdamSnow]

Originally posted by: Scouzer
Not bad, eh?

/brag

That will change once you get into the real world...

/truth

 

[BrokenVisage]

I'm never late on payments and never overcharge my CC, I don't know what my score is nor do I care at this moment.

 

[ultimatebob]

Originally posted by: Scouzer
both of my parents have phenomenal credit, but again i will stress i am not an approved user on their cards, nor am i on their credit in anyway or theirs on mine.

but i have had my own bank acct since i was 11 years old. so maybe thats helps, lol.

Don't be so sure of that... The #1 rule that financial advisors give to people putting children on your credit card to boost their credit score is to NOT TELL THEM THAT YOU DID SO. There are few more things more financially dangerous out there than a kid in shopping mall with their parents platinum card

 

[mugs]

What good is a big penis if you're just sitting at home watching porn?

Think about it.

 

[DaWhim]

Originally posted by: sonz70
21 Credit rating of 234

you don't need credit, your clients pay you in cash.

 

[QurazyQuisp]

I probably have a credit score of nothing. My name is on nothing... and I'm 18. The only things I pay for is Yahoo Music... on a monthly basis.

 

[DJFuji]

Originally posted by: shortylickens
Home? Yes.
Cars. One.
Wife and kids? HELLL NOOO!
I know better. My idea of being smart is to not get into that crap. Kids are overrated and 60% of American marriages end in divorce. I dont need to make that mistake to learn it. I learn by others mistakes.
401K? Not even. Navy Thrift Savings Plan. They match dollar for dollar up to 100% of my base pay. Currently putting away 50%, which is easy since I have no debt. Have about 100 grand right now. I know people keep saying 1 million for retirement is nice, but by the time I want to retire a million bucks really wont be that much money. I know better. I started planning at age 17. I want several million. If I'm really slick I can collect my first pension at age 38, and my second pension at 58, which is much better than all the 60 year olds I know. Most of them dont even have a small egg.

are you in the Navy? I'm not exactly sure how the navy TSP works, but i suspect its similar to the USMC one and they do NOT allow you to contribute 100% of your paycheck to it. Is that a new thing?


We should brag to the OP about our awesomely good deals on computers/gadgets compared to how he has to pay more for the same item in canadian dollars.

 

[DJFuji]

Originally posted by: Scouzer

Originally posted by: BigJ

Originally posted by: Scouzer
both of my parents have phenomenal credit, but again i will stress i am not an approved user on their cards, nor am i on their credit in anyway or theirs on mine.

but i have had my own bank acct since i was 11 years old. so maybe thats helps, lol.

You have an artificially inflated credit score. You don't have any negatives to count against you (besides it being brief), but if you try applying for a respectable loan, you will be denied based on having no credit history.

A bank account has nothing to do with credit history.

this i can believe!

if that's true, most of us would have a 9000 score in canadian terms. If you have less than a year of credit history, average income for an 18 year old, no marks against you, and no mortgage, you'll be lucky to break 600 on the average US FICO.

 

[Pepsi90919]

Originally posted by: Scouzer
my fvckin parents have nothing to do with my score so fvck right off about that

i have my name on NOTHING but my credit card, one rejected CC app, and my car insurance

i make $22k a year

you also live in alberta, land of the cheap.

 

[simms]

Whoopie. I have over 800 and I'm 20.
Nothing special.

 

[IAteYourMother]

Originally posted by: Pepsi90919

Originally posted by: Scouzer
my fvckin parents have nothing to do with my score so fvck right off about that

i have my name on NOTHING but my credit card, one rejected CC app, and my car insurance

i make $22k a year

you also live in alberta, land of the cheap.

uh oh... this is coming from a Canadian!!! :Q

 

[Kroze]

Originally posted by: shortylickens

Originally posted by: Engineer

Originally posted by: shortylickens

Originally posted by: Engineer
I'm 36 and nearly out of debt!
You've got 18 years to beat that!

I'm 26 and have been completely out of debt for almost one year.

Home, cars, etc? Wife? Kids? NICE 401k nest egg?

Home? Yes.
Cars. One.
Wife and kids? HELLL NOOO!
I know better. My idea of being smart is to not get into that crap. Kids are overrated and 60% of American marriages end in divorce. I dont need to make that mistake to learn it. I learn by others mistakes.
401K? Not even. Navy Thrift Savings Plan. They match dollar for dollar up to 100% of my base pay. Currently putting away 50%, which is easy since I have no debt. Have about 100 grand right now. I know people keep saying 1 million for retirement is nice, but by the time I want to retire a million bucks really wont be that much money. I know better. I started planning at age 17. I want several million. If I'm really slick I can collect my first pension at age 38, and my second pension at 58, which is much better than all the 60 year olds I know. Most of them dont even have a small egg.

errr...sorry buddy. But I have the TSP and the maximum contribution is around 8 or 9%.

 

[DJFuji]

Originally posted by: Kroze

Originally posted by: shortylickens

Originally posted by: Engineer

Originally posted by: shortylickens

Originally posted by: Engineer
I'm 36 and nearly out of debt!
You've got 18 years to beat that!

I'm 26 and have been completely out of debt for almost one year.

Home, cars, etc? Wife? Kids? NICE 401k nest egg?

Home? Yes.
Cars. One.
Wife and kids? HELLL NOOO!
I know better. My idea of being smart is to not get into that crap. Kids are overrated and 60% of American marriages end in divorce. I dont need to make that mistake to learn it. I learn by others mistakes.
401K? Not even. Navy Thrift Savings Plan. They match dollar for dollar up to 100% of my base pay. Currently putting away 50%, which is easy since I have no debt. Have about 100 grand right now. I know people keep saying 1 million for retirement is nice, but by the time I want to retire a million bucks really wont be that much money. I know better. I started planning at age 17. I want several million. If I'm really slick I can collect my first pension at age 38, and my second pension at 58, which is much better than all the 60 year olds I know. Most of them dont even have a small egg.

errr...sorry buddy. But I have the TSP and the maximum contribution is around 8 or 9%.

yeah me too...maybe navy is different?

 

[Suspicious-Teach8788]

726 when I was 18. I have yet to check. I'm 19 now

 

[Baked]

Originally posted by: SampSon
Hello people, he's Canadian.

Indeed. You can all disregard this thread and the OP because Canadians are not humans. They're mutant monkeys.

 

[Kroze]

Originally posted by: DJFuji

Originally posted by: Kroze

Originally posted by: shortylickens

Originally posted by: Engineer

Originally posted by: shortylickens

Originally posted by: Engineer
I'm 36 and nearly out of debt!
You've got 18 years to beat that!

I'm 26 and have been completely out of debt for almost one year.

Home, cars, etc? Wife? Kids? NICE 401k nest egg?

Home? Yes.
Cars. One.
Wife and kids? HELLL NOOO!
I know better. My idea of being smart is to not get into that crap. Kids are overrated and 60% of American marriages end in divorce. I dont need to make that mistake to learn it. I learn by others mistakes.
401K? Not even. Navy Thrift Savings Plan. They match dollar for dollar up to 100% of my base pay. Currently putting away 50%, which is easy since I have no debt. Have about 100 grand right now. I know people keep saying 1 million for retirement is nice, but by the time I want to retire a million bucks really wont be that much money. I know better. I started planning at age 17. I want several million. If I'm really slick I can collect my first pension at age 38, and my second pension at 58, which is much better than all the 60 year olds I know. Most of them dont even have a small egg.

errr...sorry buddy. But I have the TSP and the maximum contribution is around 8 or 9%.

yeah me too...maybe navy is different?

I highly doubt it. he's probably talking out of his a$. there's only 1 tsp (www.tsp.gov)

and that just remind me...i just switched all of my funds and contribution to C-Funds. what do you have?

the default G-Funds they put me in grow so slow and barely above inflation.

C Funds over the years gain a steady 10% vs G Funds 6-7%.

 

[meltdown75]

Wife and kids? HELLL NOOO!
I know better. My idea of being smart is to not get into that crap. Kids are overrated and 60% of American marriages end in divorce. I dont need to make that mistake to learn it. I learn by others mistakes.

:roll:

 

[wiredspider]

all this for a canadian... ban on the canadians!

 

[jcovercash]

If you were in the US that would be like a 550 with the little credit you have and your age!!

 

[Mill]

*shakes head*

FICO has so little to do with getting credit, loans, or premium services.

 

[KevinH]

Originally posted by: Mill
*shakes head*

FICO has so little to do with getting credit, loans, or premium services.

Where did you get that Mill? One of the biggest factors we use to determine borrower risk in the mortgage industry is the Fico.

 

[Suspicious-Teach8788]

Originally posted by: KevinH

Originally posted by: Mill
*shakes head*

FICO has so little to do with getting credit, loans, or premium services.

Where did you get that Mill? One of the biggest factors we use to determine borrower risk in the mortgage industry is the Fico.

QFT. If you can't even pass a simple FICO score level then they won't even consider you.... Simple as that.

 

[Mill]

Originally posted by: KevinH

Originally posted by: Mill
*shakes head*

FICO has so little to do with getting credit, loans, or premium services.

Where did you get that Mill? One of the biggest factors we use to determine borrower risk in the mortgage industry is the Fico.

You're right. The mortgage, home equity loan, car loan, and 18+ credit cards are just a figment of my imagination.

AGE

AGE

AGE

Age of paid on time accounts WAY more than anything. A FICO over 650 will get you whatever you want. Perhaps not the best rate, but that will come in time. What you are want are old accounts that have always been paid on time.

FICO, of course, works as risk assessment because someone with a 620 is 10x to blah blah blah whilst someone with a 750 is 10x as likely to blah blah blah. Fine and dandy, but insane to worry about. Once you get to 25 or so -- if you've got a low FICO you're an idiot, and will likely never improve your bill paying procedures/ability. For anyone under 25 FICO doesn't matter much. People on AT have FICOs of over 700 all the time and they are sub-21, yet they'd never get approved for the same things as someone who was 28 that had a 670 FICO. Why? Age of accounts. For whatever reason, those artificially high FICOs do no impress lenders. Time heals and rewards all. If you pay on-time, then by the time you're 25 you will never worry about FICO again.

FICO is not to worry about if you pay on-time. Even high debt load won't hurt as much the older your accounts get if they are paid on time. I don't know how the FICO model entirely works, but I will say it rewards good solid accounts over anything else.

 

[jagec]

Originally posted by: Bigsm00th
im 20 and my credit score was 793 as of 3 weeks ago...

history:

worked for a year after HS to save $ for college, made ~36,000 and saved 64% of that
1.5 years ago - applied for a CC at BOA, the bank with all of my money, was given a financial rewards card and 8,500 limit
3 months ago - got an american express and a gas credit card at exxon and shell

never paid a cent in interest, never had a late payment, and i dont always have a very big revolving balance.

Is that even possible? Unless your housing and food were paid for, or that figure is after-tax, I don't see how you could pay taxes, live, and put $23,040 in the bank on that salary...