Why credit score is so important

[Capt Caveman]

Typical liberal douche

Better than being a complete douche like yourself. Do you make anything but one line troll posts?

 

[olds]

<--- 9001

 

[Ronstang]

Do you buy all of your houses and cars in cash? Don't borrow for investing?

Yes and yes, and I don't know what you mean by borrowing to invest but it sounds like a really stupid idea. I buy everything in cash and all my investments were seeded with my own money. I have no idea what my credit score is and it probably sucks since I pay for everything with cash.

 

[spidey07]

Personally, I hope it hits him too. Asshole constantly brags about his wife's high salary, she's a government worker, but then bashes "liberals" and "big government". He's your typical Repuglican "ME ME ME ME ME" jerkoff.

Hey fuckface. I'm trying to help people here.

You think I care about the 10? It stings but I'm trying to help. These kinds of fees are representative of punishing responsible folk.

 

[postmortemIA]

I'm hoping that a hard dose of reality might force him to. His disassociation from reality is annoying.

I have to agree. Buying dream home means prepare your credit score year in advance. Even if situation is mixup it is still OPs fault for letting it drag to this day. If person has x bills, and one moth pays x-1 bills and misses (to receive) that one bill, it is still person's responsibility to figure out what happened with last one. Because person's credit score is in question, and not of the billing company. Especially if we are talking about bills that are going to credit report.

And for banks purely profiting on this, it is not totally true - they have to bring money in to offset people who walk on their mortgages. Obviously they can't ask people with mint credit to pony up more.

 

[Capt Caveman]

Yes and yes, and I don't know what you mean by borrowing to invest but it sounds like a really stupid idea. I buy everything in cash and all my investments were seeded with my own money. I have no idea what my credit score is and it probably sucks since I pay for everything with cash.

Instead of buying my house/car with cash, I'd rather finance them to free up my cash to invest. Should I cash out my Janus Venture fund which has returned 28&#37; in the last year, 11% since opening it or leave it there and finance my vehicle at 2.49%? Who's stupid? Not me.

 

[LegendKiller]

Hey fuckface. I'm trying to help people here.

You think I care about the 10? It stings but I'm trying to help. These kinds of fees are representative of punishing responsible folk.

You wanna help people? Have your wife return all of the money you effectively, in your viewpoint, stole from the taxpayers of your state and country.

Otherwise, stop being a hypocritical douchenozzle.

Those are the 2 ways you can help people.

 

[Ronstang]

Instead of buying my house/car with cash, I'd rather finance them to free up my cash to invest. Make sense?

I see, that does make sense. I did it the other way around. I invested because I knew back in 2003 that someday the idiots would ruin the housing market enough to make houses cheap and all that time I was making money. I am converting some of that invested earnings into a nice new house.

I also have the luxury of having very few needs that require money to satiate. I usually don't spend my disposable income because I just don't want for much. I would rather spend my time out in the garage fiddling with one of my projects which actually consume very little money the way I do them. As a result all of a sudden I have a bunch of cash saved up or invested so when I need a car I just buy it.

 

[bfdd]

I see, that does make sense. I did it the other way around. I invested because I knew back in 2003 that someday the idiots would ruin the housing market enough to make houses cheap and all that time I was making money. I am converting some of that invested earnings into a nice new house.

I also have the luxury of having very few needs that require money to satiate. I usually don't spend my disposable income because I just don't want for much. I would rather spend my time out in the garage fiddling with one of my projects which actually consume very little money the way I do them. As a result all of a sudden I have a bunch of cash saved up or invested so when I need a car I just buy it.

This is exactly what I have been trying to do changing my life around. I don't really have any big wants any more and I could be saving well over half of my income, but I don't currently. I'm in the process of changing my life style and what not to move in that direction. Sucks it took me this long to get off my ass and do it, but whatevs.

 

[UberNeuman]

I've got 2. Is that bad?

 

[Capt Caveman]

I've got 2. Is that bad?

It's definitely not good. Don't marry Spidey's wife or it could go negative.

 

[x26]

Wife and I are getting ready to buy our dream home so we went to talk to a mortgage broker to see where we stood. Turns out she's got one and only one big huge ding on her credit score, some bill that she never received or authorized and it's 60/90 days late. This single item is dropping her score 100 points, otherwise she'd be at 740+ (broker ran what if analysis stuff).

Anything under 740 and it's a sliding scale of fees due based on how much you put down and what your score is. A percentage of the mortgage amount ranging from .25 to as high as 3%. Even doing a typical 20% down this single 40 dollar charge that was late is costing us 10,000 dollars in fees.

Yeah, I'll be disputing that shit with the credit agencies and the debtor. Big mixup on card changes, name changes, her moving, etc. What's even more interesting is the broker said assets don't matter, all the banks care about is credit score and debt to income ratio (and appraisal, comparable properties). If we ran it on my credit/income alone I was approved for 4x my gross salary which is ridiculous.

Here's hoping 40 dollars doesn't cost us 10 grand.

Go FHA--as little as 3.5% down, competative rates and not such grave punishment for scores 700 +

 

[LegendKiller]

Go FHA--as little as 3.5% down, competative rates and not such grave punishment for scores 700 +

But that's big "liberal" government, we wouldn't want to encourage him to be any more of a hypocrite than he already is.

 

[boomhower]

How recent is this little blemish, it has to be very recent to know her down to a 640. I've got several collections from my college days still showing and I am at a 680, probably push 700 if I had my cards paid off.

 

[spidey07]

How recent is this little blemish, it has to be very recent to know her down to a 640. I've got several collections from my college days still showing and I am at a 680, probably push 700 if I had my cards paid off.

Less than six months.

 

[spidey07]

But that's big "liberal" government, we wouldn't want to encourage him to be any more of a hypocrite than he already is.

Hi fuckface. This is because of government mandates. I can't pay cash nor should I. Your jealousy is showing once again. Next week I get my SS raise. And you live in new York. Bwahaaahaashaaassaaass

Dumbass

 

[LegendKiller]

Hi fuckface. This is because of government mandates. I can't pay cash nor should I. Your jealousy is showing once again. Next week I get my SS raise. And you live in new York. Bwahaaahaashaaassaaass

Dumbass

Jealous? roflcopter. More ME ME ME ME...

So when are you going to give the money back to the taxpayers? Do you enjoy the fact that your wife's pension is going to bankrupt your state? Common, we know you do.

 

[IronWing]

Hi fuckface. This is because of government mandates. I can't pay cash nor should I. Your jealousy is showing once again. Next week I get my SS raise. And you live in new York. Bwahaaahaashaaassaaass

Dumbass

I'll bite. How do government mandates force you to make a late payment, force you to borrow money to buy a house, force credit agencies to drop your score for late payments, or force lenders to charge you more?

 

[arcenite]

Hi fuckface. This is because of government mandates. I can't pay cash nor should I. Your jealousy is showing once again. Next week I get my SS raise. And you live in new York. Bwahaaahaashaaassaaass

Dumbass

No one is jealous...sorry.

 

[Sluggo]

I love these forums.

 

[Wyndru]

Is this spidey?

http://www.youtube.com/user/freecreditscore#p/c/8343FF89D3909CAA/0/x5T7hbnZy7I

 

[shadow9d9]

We need less regulation of credit scores, more free market wisdom.

 

[Svnla]

I got 851

Can't be FICO score, it only can go up to 850.

To have a good credit score is not hard, really. Just read this thread I created a while back.

http://forums.anandtech.com/showthread.php?t=2136139&highlight

 

[dmcowen674]

Originally Posted by spidey07
Here's hoping 40 dollars doesn't cost us 10 grand.

Here's hoping it does.

Ditto

Hopefully even double that :thumbsup:

 

[zinfamous]

until now, this thread showed on the front page as being bookended by spidey and McCowen.