Credit history nonsense - Page 2

Secretblend · 01-20-2008, 05:10 PM

Quote:

Originally Posted by GalaxyAngel

Can you show me what look alike.. so I can go over to Chapters' Book store.

Be sure to read reviews first before buying it. I was reading the reviews on several sites and all reviews was negative. From what I read, I woudln't buy one.

Kalista · 01-20-2008, 05:40 PM

Quote:

Originally Posted by Secretblend

Be sure to read reviews first before buying it. I was reading the reviews on several sites and all reviews was negative. From what I read, I woudln't buy one.

Interesting... I could borrow a book from public library.

Byrdie714 · 01-21-2008, 10:12 AM

Quote:

Originally Posted by Kalista

Interesting... I could borrow a book from public library.

And you wouldn't have to pay for it....

kalboy · 01-23-2008, 05:06 PM

Simple ways to build your credit score:

1. Always pay your monthly bill in full and on time.

2. Never borrow more than what you can't afford.

3. You only need one credit card.

Secretblend · 01-23-2008, 05:09 PM

Quote:

Originally Posted by kalboy

Simple ways to build your credit score:

1. Always pay your monthly bill in full and on time.

2. Never borrow more than what you can't afford.

3. You only need one credit card.

Very good! Can't be easier than that. Wish I follow that when I was young and foolish!

ScubaladyTx · 01-25-2008, 11:16 AM

Quote:

Originally Posted by sequoias

A vent about credit history.....I HATTTTTEEEE that stuff. They hurt your life. They make you pay more for interest, more for punishments and so many stuff for missing payments or other reasons. It's a label on a person for what their history is like. Why pay more when you're on bad credit? They have hard time getting a place to live, hard time with transportation, hard time with everything. Many end up living with relatives or a good friend to be assisted under. They're all B.S.! It's all NON-SENSE! I highly disagree with the credit scores and credit history stuff. 7 years is way too long! We have to pay to check what's my credit history is like? I don't buy that shit! We're people, sheesh! Not robots!!!!!!!!

Lol! I hear you ! ! I have been thru same thing, Glad its over. What to do is ? Do not apply credit cards again! VERY dangerous.. They don't care about you as human. They care abt is "$$$$" That's alll for their business!

One credit card for emergency/back-up. Like what if car broke down and many many reasons!

For me- We have one credit card for back-up(emergency) and saving @ bank too. It is very important. I know Life isnt easy!Just be wise! lol

M-

Kai Onca · 01-28-2008, 11:10 AM

I would say I'll side with the BANKS on this issue about credit scores and 7 years is really sufficent for banks/lenders to know what you're really is like with your borrowing habits (risk lending and so on) are you at risk to blow off 150k? thats what lenders truly want to know about.

its your problem- everyone has a SOB story of why they're out of money. (only in certain explict circumstances its understandable)

its your responsiblity to obligate that your debt is paid and cleared before you can forget all about it

If I wanted to lend money to an individual just say 150k for a house. I do want to insure that individual is going to be paying it back. REMEMBER alot of HOUSE LOANS are 15 years or 30 years... 7 years for banks is just a sample of what you would do with that loan.

(gee-whiz) Its the lenders money, not YOURS to start with, why are people complaining about their credit history you should be groveling and kneeling for the money that would come your way for whatever situtation its needed for.

You made the choice of living OUT of your means, buckle up and live with it. Many people don't know how to SAVE money before even spending it...

SO many people blame others for their credit problems. (their kids/exs/spouses/relatives/friends and so on)

Are you legally under someone's wing as having a guardian for your estate needs? then please refrain from pointing the finger at someone else when your finances goes to hell. No one grabbed you at gunpoint and told you to spend this much money on so-so....No one told you to spawn kids who thinks cellphones are important more than their own parents. No one told you to purchase that muscle car and have it juiced up, and then later you're out of a job because you didn't have a savings nest and you're down on your luck and need the common joe lender to lend you money to bail yourself out.

LIVE WITHIN YOUR FINCANICAL MEANS please, people for the sake of this (US) country's future fincanical future.

Harsh as it may seem.

Banks/Lenders are faceless to most of us but would we do this to our friend who loaned us 60 bucks when we forgot our wallets/purse at the house during a dinner? Next day I would have just paid the friend rightaway, its called being obligated.

Banks/lenders are just so faceless we just tend to think we're not stealing their money when we are not paying it back.

If you loaned the friend 1,000 and she/he never paid you back- is that upsetting to you? Newsflash, its going to stir up a hornets nest when you do that to a bank. Business live to protect their business and people are faceless to them too its just another number.

Cheer up and just repair your credit numbers. Its going to take month to month but theres so many resources out there. Take it a month at a time and don't look back at the negatives if theres nothing that can be done about it. Try to build it back up one point at a time.

Good Luck!

PuyoPiyo · 01-29-2008, 06:29 AM

Quote:

Originally Posted by restless_heart

Yep same here. We have my brother lives with us (two years now) so he can pay off his debts. With car payments and insurance going skyrocket due to his car accident, that he had to make two car payments if one of his truck was totalled. What can you do about it. This is life. He may hated life, but life doesn't stand still...we got to do what we got to do...he knows I am right, and he will survive just like I did...

After I went through divorce in 2003, I manage to live one day at a time paying off my debts and btwn the house and car payment, I made it all through by myself with no one help. My credit score was very bad, I mean really, really bad...and you will not believe it.....jeeze, I was such a mess!!!! How will I do it all myself? With two children....there is no way out, I will tell ya...All I did was keeping my butt off with my job, from paycheck to paycheck to pay off the freaking bills, even the other bills that were left unpaid for years---yes it does count up to seven years, then again another seven years....nuh huh...I got to do something about it. I have never asked for a single help, not even from my parents or anyone. Not a single loan. Ahhh, I will never forget that. I am a survivor and made through it. If I can do it, so can you...

I did had kept my credit rating up and getting better. No credit cards for three years. I never bothered applying. Then I applied a few just recently, I had no problem getting credit cards because my credit have approved. You are allowed to call credit report to work with them how to approve your credit rating, and call each companies to work with you on how to pay your bills without interests. It does work as long as you kept your promises to pay the bills. Even if you have no job, or your paycheck was getting smaller and smaller, let them know, they will cut down your payment to smaller amount.

Remember this, some will win...and some will lose.

And that's why my parents always told me, if we lose by someone or something else, sometimes it's better to JOIN them.

Deaf Mortgage · 03-04-2008, 04:03 PM

over view:

Credit Score is to determine how risky the borrowers are to the investors when they invest money into credit card or loans such as car loans or mortgage.

Where credit comes from?

35% are impacted from Payment History - If 1 month missed, it can hurt you. Keep paying for 12 months or more will help your history better. If you let your missed payments into collection… You can negotiate with your credit card to lower interests. In fact… there are many ways to negotiate with your hospital bills, credit cards etc…

30% Amount owed - The terminology that bank will use is Debts to Income. It’s a ratio that will determine if you can handle a new debt. If your ratio is around 30%, you can easily get a loan. But if over 50%... they will question and do more research on you. This is very true in Mortgage process of purchase or refinance. Even we can do debt pay off at refinance to help you to free up debts.

10% Types of Credit Used - Recommend to have three types of credit. Keep it at three. It is not necessary to open more than 3 accounts. (IE. 1 Credit card, 1 Car loan, 1 mortgage OR 2 credit cards, 1 car loan).

10% New credit - How many time did you open new account in last 12 months or have inquires from any bank, credit card etc... (FYI, if you do too many inquires, it can hurt your credit score)

15% Length of credit history – The longer your history, the better it gets. You can build up your credit history by opening one credit card. Then use it until you ready to purchase a car. Take your time.

Range of Credit Scores are 350 - 850
720+ is outstanding credit score
620-719 is average credit score
619 or lower is consider poor credit

How to improve or protect your credit score.
1. Keep your balance under 50% of limit on all credit cards. (I.E. Credit line is $1,000... use only $499.99 of that credit line.). Using below 50% of the limit will slowly increase your credit score. If below 30%, faster increase your credit score.

2. DO NOT CLOSE unused credit cards. Especially, those good payment histories. Even $0 balance, keep them. Any good history payments will be lost when the account is closed. Bad credit history will remain on your credit history.

3. Order your FREE credit history to make sure your information is accurate. Sometime bank reports information incorrectly to credit reports. You can easily find them via website search. Or do Credit Bureau and Wiki.
Equifax: Credit Reports, Credit Scores, Protection Against Identity Theft
Experian
TransUnion - Credit Score & Online Credit Reports

You are entitled by congress that you can receive your free annual credit history from each agency I have mentioned above. (NOTE: you will only get credit history free. Credit score required paid).

4. Buy what you can afford. Paying on time for 12 months show you are better person to loan good amount with good interest. Even the bank will say you are qualified up to $400,000... it does not mean you can afford $400,000 but you can handle $250,000 house. If you purchase a home that you can afford, it will give you freedom of growing your finances estates.

FYI...

I am ASL Mortgage Banker from First American Bank's Deaf Service Division. We are also working with DeafMortgage.net for education purposes. We do mortgage loans but same time we do help people to refinance and clean up credit history along with debts if possible. Otherwise, you can develop a plan how to get out of debts or go to agency that help you to clean up your debts. Tackling your budget one bill at a time.

If you are curious if you can qualify for a home purchases. Please visit First American Bank - Deaf Services Division and https://deafmortgage.net/secure_html/index.htm to see if you qualify. Ensure you can put my name as preferred Banker. We can do 50 states, so your location does not matter as long you are in USA.

DeafMortgage.net will be visiting several ASL expos and Deafnation expos in year of 2008. Please check with your local expo near you to see if you can attend a workshop about house purchases. The workshop is free and education purpose regard of credit history and how to purchase a home.

As March 4th - Interest rates have dropped again. You can contact me directly by visiting First American Bank website for email or VP appointment. Please email me and refer alldeaf.com in your subject.

01-23-2008, 05:06 PM	#34 (permalink)
kalboy Registered User Join Date: Mar 2003 Location: Silicon Valley, CA Posts: 243	Simple ways to build your credit score: 1. Always pay your monthly bill in full and on time. 2. Never borrow more than what you can't afford. 3. You only need one credit card. __________________

03-04-2008, 04:03 PM	#39 (permalink)
Deaf Mortgage ASL Mortgage Banker Join Date: Jun 2007 Location: Minneapolis, MN Posts: 388 Blog Entries: 1	Credit Score how it works and impact your life over view: Credit Score is to determine how risky the borrowers are to the investors when they invest money into credit card or loans such as car loans or mortgage. Where credit comes from? 35% are impacted from Payment History - If 1 month missed, it can hurt you. Keep paying for 12 months or more will help your history better. If you let your missed payments into collection… You can negotiate with your credit card to lower interests. In fact… there are many ways to negotiate with your hospital bills, credit cards etc… 30% Amount owed - The terminology that bank will use is Debts to Income. It’s a ratio that will determine if you can handle a new debt. If your ratio is around 30%, you can easily get a loan. But if over 50%... they will question and do more research on you. This is very true in Mortgage process of purchase or refinance. Even we can do debt pay off at refinance to help you to free up debts. 10% Types of Credit Used - Recommend to have three types of credit. Keep it at three. It is not necessary to open more than 3 accounts. (IE. 1 Credit card, 1 Car loan, 1 mortgage OR 2 credit cards, 1 car loan). 10% New credit - How many time did you open new account in last 12 months or have inquires from any bank, credit card etc... (FYI, if you do too many inquires, it can hurt your credit score) 15% Length of credit history – The longer your history, the better it gets. You can build up your credit history by opening one credit card. Then use it until you ready to purchase a car. Take your time. Range of Credit Scores are 350 - 850 720+ is outstanding credit score 620-719 is average credit score 619 or lower is consider poor credit How to improve or protect your credit score. 1. Keep your balance under 50% of limit on all credit cards. (I.E. Credit line is $1,000... use only $499.99 of that credit line.). Using below 50% of the limit will slowly increase your credit score. If below 30%, faster increase your credit score. 2. DO NOT CLOSE unused credit cards. Especially, those good payment histories. Even $0 balance, keep them. Any good history payments will be lost when the account is closed. Bad credit history will remain on your credit history. 3. Order your FREE credit history to make sure your information is accurate. Sometime bank reports information incorrectly to credit reports. You can easily find them via website search. Or do Credit Bureau and Wiki. Equifax: Credit Reports, Credit Scores, Protection Against Identity Theft Experian TransUnion - Credit Score & Online Credit Reports You are entitled by congress that you can receive your free annual credit history from each agency I have mentioned above. (NOTE: you will only get credit history free. Credit score required paid). 4. Buy what you can afford. Paying on time for 12 months show you are better person to loan good amount with good interest. Even the bank will say you are qualified up to $400,000... it does not mean you can afford $400,000 but you can handle $250,000 house. If you purchase a home that you can afford, it will give you freedom of growing your finances estates. FYI... I am ASL Mortgage Banker from First American Bank's Deaf Service Division. We are also working with DeafMortgage.net for education purposes. We do mortgage loans but same time we do help people to refinance and clean up credit history along with debts if possible. Otherwise, you can develop a plan how to get out of debts or go to agency that help you to clean up your debts. Tackling your budget one bill at a time. If you are curious if you can qualify for a home purchases. Please visit First American Bank - Deaf Services Division and https://deafmortgage.net/secure_html/index.htm to see if you qualify. Ensure you can put my name as preferred Banker. We can do 50 states, so your location does not matter as long you are in USA. DeafMortgage.net will be visiting several ASL expos and Deafnation expos in year of 2008. Please check with your local expo near you to see if you can attend a workshop about house purchases. The workshop is free and education purpose regard of credit history and how to purchase a home. As March 4th - Interest rates have dropped again. You can contact me directly by visiting First American Bank website for email or VP appointment. Please email me and refer alldeaf.com in your subject.

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01-28-2008, 11:10 AM	#37 (permalink)
Kai Onca Save the RAINFOREST Join Date: Jul 2003 Location: Wandering through the Mist of Time Posts: 887	I would say I'll side with the BANKS on this issue about credit scores and 7 years is really sufficent for banks/lenders to know what you're really is like with your borrowing habits (risk lending and so on) are you at risk to blow off 150k? thats what lenders truly want to know about. its your problem- everyone has a SOB story of why they're out of money. (only in certain explict circumstances its understandable) its your responsiblity to obligate that your debt is paid and cleared before you can forget all about it If I wanted to lend money to an individual just say 150k for a house. I do want to insure that individual is going to be paying it back. REMEMBER alot of HOUSE LOANS are 15 years or 30 years... 7 years for banks is just a sample of what you would do with that loan. (gee-whiz) Its the lenders money, not YOURS to start with, why are people complaining about their credit history you should be groveling and kneeling for the money that would come your way for whatever situtation its needed for. You made the choice of living OUT of your means, buckle up and live with it. Many people don't know how to SAVE money before even spending it... SO many people blame others for their credit problems. (their kids/exs/spouses/relatives/friends and so on) Are you legally under someone's wing as having a guardian for your estate needs? then please refrain from pointing the finger at someone else when your finances goes to hell. No one grabbed you at gunpoint and told you to spend this much money on so-so....No one told you to spawn kids who thinks cellphones are important more than their own parents. No one told you to purchase that muscle car and have it juiced up, and then later you're out of a job because you didn't have a savings nest and you're down on your luck and need the common joe lender to lend you money to bail yourself out. LIVE WITHIN YOUR FINCANICAL MEANS please, people for the sake of this (US) country's future fincanical future. Harsh as it may seem. Banks/Lenders are faceless to most of us but would we do this to our friend who loaned us 60 bucks when we forgot our wallets/purse at the house during a dinner? Next day I would have just paid the friend rightaway, its called being obligated. Banks/lenders are just so faceless we just tend to think we're not stealing their money when we are not paying it back. If you loaned the friend 1,000 and she/he never paid you back- is that upsetting to you? Newsflash, its going to stir up a hornets nest when you do that to a bank. Business live to protect their business and people are faceless to them too its just another number. Cheer up and just repair your credit numbers. Its going to take month to month but theres so many resources out there. Take it a month at a time and don't look back at the negatives if theres nothing that can be done about it. Try to build it back up one point at a time. Good Luck!