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Posted: 2/13/2019 6:20:12 PM EDT
[#1]
I had insufficient credit history until I got married at 28. Didn't borrow money before that. Then we got CCs for the perks and stuff.
Financial debt scares the shit out of me. |
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Posted: 2/13/2019 6:20:17 PM EDT
[#2]
Quote HistoryQuoted:
I have a high 700 credit score. I am aiming for a credit score of 0 in the next few years. |
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Posted: 2/13/2019 6:20:24 PM EDT
[#3]
It's bs. I'm 31 and when I got my mortgage loan they said not having recent long term debt hurt me. I'm sorry I've been driving a paid off truck for 7 years.
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Posted: 2/13/2019 6:20:24 PM EDT
[#4]
IDK, I'm flying to Hawaii for free on points. Seems like a no brainer to at least have a card.
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Posted: 2/13/2019 6:22:35 PM EDT
[#5]
Wait until people find out that credit history checks can be prerequisite to employment in certain industries.
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Posted: 2/13/2019 6:23:59 PM EDT
[#6]
I have a home and garage on 90~ish acres, a truck, a car, a boat, 2 ATV's, 2 motorcycles, and various other things.
All paid for. All bought without credit. Credit is for the got to have it now crowd. |
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Posted: 2/13/2019 6:24:14 PM EDT
[#7]
Quote HistoryQuoted:
You didn't answer my question Quote HistoryQuoted:
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Some people don’t like being a slaves to big banksters. God, some of the dumb shit posted in GD really makes you do a double take but this one takes the cake  |
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Posted: 2/13/2019 6:24:17 PM EDT
[#8]
"Need" is a strong word.
People need food, but the amount of fatties walking around tells you that most don't "need" as much as they think they do. |
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Posted: 2/13/2019 6:29:11 PM EDT
[#9]
Quote HistoryQuoted:
Some of us enjoy getting paid by them to use their piece of plastic. Everything was paid off inside about 5-6 years. At 49 I bought my first new car on credit and had it paid off in less than a year. Now I use a credit card to buy just about everything and pay the balance off monthly. I have never paid interest and have only made money with it. |
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Posted: 2/13/2019 6:29:26 PM EDT
[#10]
Quote HistoryQuoted: LOL. Am I a debt slave? |
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Posted: 2/13/2019 6:35:38 PM EDT
[#11]
How would you rent a vehicle without a CC? Large cash deposit? It's almost a necessary item these days - like a smart phone. My first CC was Sears and Roebuck - 1967ish with a $200.00 limit - revolving charge card I think it was called. Thought I was hot shit!!!
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Posted: 2/13/2019 6:37:51 PM EDT
[#12]
You dont need good credit if you have money set aside.
If you can make good down payments you get good rates |
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Posted: 2/13/2019 6:38:53 PM EDT
[#13]
Quote HistoryQuoted:
I have a paid off house and car. It greatly reduces my credit history as time goes on. I have 2 credit cards and only use 1 of them. |
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Posted: 2/13/2019 6:40:00 PM EDT
[#14]
There are people that have never traveled out of their city, grown up on welfare and looked forward to it when they were of age. Those people most likely do not have bank accounts or credit.
They all vote for the party that will keep them there too. |
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Posted: 2/13/2019 6:42:03 PM EDT
[#15]
My wife was farm-raised, and super-frugal when we got married.
Paid for it with cash, or we didn't buy it. Very frugal. We graduate, I get a job, and we go to buy a house. She has no credit history. |
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Posted: 2/13/2019 6:42:33 PM EDT
[#16]
Quote HistoryQuoted:
I have a home and garage on 90~ish acres, a truck, a car, a boat, 2 ATV's, 2 motorcycles, and various other things. All paid for. All bought without credit. Credit is for the got to have it now crowd. |
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Posted: 2/13/2019 6:43:56 PM EDT
[#17]
Quote HistoryQuoted:
How did you mange that? Inheritance? Mom and dad help you out? |
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Posted: 2/13/2019 6:44:47 PM EDT
[#18]
Quote HistoryQuoted:
My wife was farm-raised, and super-frugal when we got married. Paid for it with cash, or we didn't buy it. Very frugal. We graduate, I get a job, and we go to buy a house. She has no credit history. |
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Posted: 2/13/2019 6:44:57 PM EDT
[#19]
Quote HistoryQuoted:
How would you rent a vehicle without a CC? Large cash deposit? It's almost a necessary item these days - like a smart phone. My first CC was Sears and Roebuck - 1967ish with a $200.00 limit - revolving charge card I think it was called. Thought I was hot shit!!! |
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Posted: 2/13/2019 6:45:07 PM EDT
[#20]
As usual some in GD are clueless and some are full of crap. Credit makes the world go around.
You do realize that you will pay more for services if you dont have a tier 1 FICO? Here in PA they run your credit for auto insurance...so guess what...if your credit is not up to par, you're not getting the lowest rates available. Same goes for auto loan,mortgage, personal loans, etc etc. I talk about credit all day long as I work for a credit union. I see people young and old with no credit history and it blows my mind. The folks that are tier 1 are usually the ones with modest life styles. I know one thing, when my daughter turns 16, I'll be opening a secured loan to establish credit for her. The best part about the secured loan is I wont have to co-sign on the loan. For me, it's the cost of doing business, so I'll pay interest to eatablish credit for a 16 year old. IMO, its the best thing that a parent can do for their children to establish credit. I've seen some 28 year olds that dont have credit history. |
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Posted: 2/13/2019 6:46:04 PM EDT
[#21]
Quote HistoryQuoted:
When I was young and needed leverage, I couldn't get it. Now that I'm older and don't need any and I self insure, I have all the banks trying to get me to borrow. It's nice being able to ignore the cretans.  My bank bricked over the drive thru on the side of their building and built a kiosk out in the parking lot. Smooth move, it's next to a heavily traveled street, subject to the wind or brodozers pulling up in the next lane. CAN'T HEAR JACK! So I have to go inside where I'm ambushed by the same gal trying to get me to open a HELOC.
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Posted: 2/13/2019 6:48:43 PM EDT
[#22]
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Posted: 2/13/2019 6:51:13 PM EDT
[#23]
I like having credit at my disposal. I don't like having more on credit cards than I have in liquid funds at any given point.
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Posted: 2/13/2019 6:53:12 PM EDT
[#24]
Quote HistoryQuoted:
You can rent a car using a debit card, but yeah, it's the same idea as leaving a deposit. |
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Posted: 2/13/2019 6:55:46 PM EDT
[#25]
Where the hell can you check your credit for free and NOT have it affect your credit?
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Posted: 2/13/2019 6:59:44 PM EDT
[#26]
Quote HistoryQuoted:
You can rent a car using a debit card, but yeah, it's the same idea as leaving a deposit. Quote HistoryQuoted:
Quoted:
How would you rent a vehicle without a CC? Large cash deposit? It's almost a necessary item these days - like a smart phone. My first CC was Sears and Roebuck - 1967ish with a $200.00 limit - revolving charge card I think it was called. Thought I was hot shit!!! |
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Posted: 2/13/2019 7:00:17 PM EDT
[#27]
Quote HistoryQuoted:
Where the hell can you check your credit for free and NOT have it affect your credit? |
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Posted: 2/13/2019 7:01:30 PM EDT
[#28]
Quote HistoryQuoted:
Where the hell can you check your credit for free and NOT have it affect your credit? Remember that there are multiple scoring methods, the numbers will be different depending on which scoring method is used. |
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Posted: 2/13/2019 7:02:49 PM EDT
[#29]
Quote HistoryQuoted:
Where the hell can you check your credit for free and NOT have it affect your credit? |
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Posted: 2/13/2019 7:05:38 PM EDT
[#30]
Quote HistoryQuoted:
As usual some in GD are clueless and some are full of crap. Credit makes the world go around. You do realize that you will pay more for services if you dont have a tier 1 FICO? Here in PA they run your credit for auto insurance...so guess what...if your credit is not up to par, you're not getting the lowest rates available. Same goes for auto loan,mortgage, personal loans, etc etc. I talk about credit all day long as I work for a credit union. I see people young and old with no credit history and it blows my mind. The folks that are tier 1 are usually the ones with modest life styles. I know one thing, when my daughter turns 16, I'll be opening a secured loan to establish credit for her. The best part about the secured loan is I wont have to co-sign on the loan. For me, it's the cost of doing business, so I'll pay interest to eatablish credit for a 16 year old. IMO, its the best thing that a parent can do for their children to establish credit. I've seen some 28 year olds that dont have credit history. |
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Posted: 2/13/2019 7:05:47 PM EDT
[#31]
Quote HistoryQuoted:
You should be able to request all 3 scores once a year with no ill effects. Many credit cards also offer weekly-ish updates, but they generally only pull from one of the providers. |
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Posted: 2/13/2019 7:06:43 PM EDT
[#32]
Quote HistoryQuoted:
Where the hell can you check your credit for free and NOT have it affect your credit? CreditWise through Capital One IIRC |
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Posted: 2/13/2019 7:20:57 PM EDT
[#33]
I recently found out about not having a decent credit history while looking at cars.
Been about 15 years since I’ve financed anything, but I do have a CC which is payed in full every month, still, they pretty much told me I wasn’t in enough debt to get a good % if that makes since. |
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Posted: 2/13/2019 7:26:09 PM EDT
[#34]
OP...I have that problem. A 760 credit score but can not get a car or house loan. Why...?
I have not had steady work for 3+ years but have carried no debt. Zero for about 5+ years. Everything was paid off and money in the bank to take care of all bills. I said fuck it. I am going to be completely debt free to everyone except for normal house, living expenses, etc. paid credit card bills within 5 days of the billing and started using cash where ever I could. One Credit card company canceled my card because of it...Fuck off then and a big fuck you when I get back in the groove and you start calling me to extend credit. Nope. Yes.. I should have carried a bullshit loan just to “play the game”. It sure has felt wonderful with only a half dozen Bills a month showing up and no big one... 
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Posted: 2/13/2019 7:26:48 PM EDT
[#35]
Quote HistoryQuoted:
I have a high 700 credit score. I am aiming for a credit score of 0 in the next few years. Yet... this still occurs even though my score is tanking hard, earlier on a Sunday morning.  Attached File |
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Posted: 2/13/2019 7:29:10 PM EDT
[#36]
Quote HistoryQuoted:
Some people consider it a burden being indebted to someone, if only for a month. Sounds like you don't. Quote HistoryQuoted:
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Some people don’t like being a slaves to big banksters. God, some of the dumb shit posted in GD really makes you do a double take but this one takes the cake 
How much do you prepay your utilities to make sure you aren't a burden to the gas or electric companies? 
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Posted: 2/13/2019 7:32:18 PM EDT
[#37]
Quote HistoryQuote HistoryQuoted:
Quoted: Some people can't trust themselves with a piece of plastic. 
That's different.
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Posted: 2/13/2019 7:32:57 PM EDT
[#38]
Quote HistoryQuoted:
I recently found out about not having a decent credit history while looking at cars. Been about 15 years since I’ve financed anything, but I do have a CC which is payed in full every month, still, they pretty much told me I wasn’t in enough debt to get a good % if that makes since. |
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Posted: 2/13/2019 7:36:24 PM EDT
[#39]
Quoted:
The last few CC threads got me. Like it or not you NEED a credit history. It affects so many things in your life. Who cares if you buy cheap cars with cash and rent your place, you still need some sort of credit history. Car insurance premiums are somewhat based on credit score. Do you never plan on needing to borrow money? |
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Posted: 2/13/2019 7:38:27 PM EDT
[#40]
Quote HistoryQuoted:
How much do you prepay your utilities to make sure you aren't a burden to the gas or electric companies? |
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Posted: 2/13/2019 7:44:09 PM EDT
[#41]
Quote HistoryQuoted:
And I’d bet good money you wouldn’t be denied for a loan based on “insufficient credit history” <- works in banking I had a paid for house, multiple paid for vehicles, no debt, and a full time job. Wife (then long time girlfriend) and I were house shopping. She got approved all by herself. I wanted on the paperwork since I was making the down payment in cash to cover my ass a bit not being married. Add my name...denied do to lack of credit history. |
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Posted: 2/13/2019 8:00:02 PM EDT
[#42]
I have no credit because somehow the only lesson that my dad tried to teach me that stuck was if you don't have the money in your pocket to buy it you can't afford it. One of my buddies tried to explain how credit works, but buying something and not paying for the whole thing to up your credit score didn't make any sense to me, so I never got a credit card.
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Posted: 2/13/2019 8:00:38 PM EDT
[#43]
Quote HistoryQuoted:
I was 29 when I got my first credit card, had it for over a year now. I've never had a loan or anything, either. If I can't afford it, I don't buy it. |
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Posted: 2/13/2019 8:01:09 PM EDT
[#44]
Quote HistoryQuoted:
I have no credit because somehow the only lesson that my dad tried to teach me that stuck was if you don't have the money in your pocket to buy it you can't afford it. One of my buddies tried to explain how credit works, but buying something and not paying for the whole thing to up your credit score didn't make any sense to me, so I never got a credit card. |
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Posted: 2/13/2019 8:06:12 PM EDT
[#45]
Quote HistoryQuoted:
No you really dont NEED a credit rating. You'd be surprised how well you can get through life with a "cash only" mindset. My best friend is 32. He and his dad built his house together on their land when he was 15/16 years old. Therefore, no mortgage/house loan there. He drives old vehicles...his newest one is a '94 S10 that his grandfather gave him when he got his license. The rest are older ones that he's restored. He got a credit card when he was in his mid-20's, but only uses it once or twice a year. Other than that, he's cash only....doesn't even have an ATM/Debit card. He goes into the bank and writes himself a check made out to cash every week. |
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Posted: 2/13/2019 8:09:56 PM EDT
[#46]
Having good credit is easy to do.
I've gone up over 100 points in a little over a year.
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Posted: 2/13/2019 8:10:01 PM EDT
[#47]
Quote HistoryQuoted:
I have a home and garage on 90~ish acres, a truck, a car, a boat, 2 ATV's, 2 motorcycles, and various other things. All paid for. All bought without credit. Credit is for the got to have it now crowd. I figure they use that information to see how much they can strap you down, once committed. The 40 year old family man with wife/kids/upside down mortgage in tow will be more pliable for the whip. |
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Posted: 2/13/2019 8:13:00 PM EDT
[#48]
Quote HistoryQuoted:
My wife was farm-raised, and super-frugal when we got married. Paid for it with cash, or we didn't buy it. Very frugal. We graduate, I get a job, and we go to buy a house. She has no credit history. |
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Posted: 2/13/2019 8:13:53 PM EDT
[#49]
Quote HistoryQuoted: But that's not how or why you should use credit. Just because you use a CC doesn't mean you don't also have the money in hand. |
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Posted: 2/13/2019 8:19:24 PM EDT
[#50]
Quote HistoryQuoted:
I recently found out about not having a decent credit history while looking at cars. Been about 15 years since I’ve financed anything, but I do have a CC which is payed in full every month, still, they pretty much told me I wasn’t in enough debt to get a good % if that makes since. |
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