is bullshit.

A couple years ago, I had 10k in the bank, almost no expenses, zero debt, was working a full time job, and my bank (where I had the money) wouldn't give me a credit card.

On the other hand, they would gladly let my girlfriend be the primary. She had 30k in debt, no job, and was living on her own.


Then every time I hear about all the shit that damages your score: paying off your cards, not paying off your cards, having too many cards, having too few cards, having too much available credit.

1/9/2009 12:29:19 PM

k

1/9/2009 12:30:08 PM

n00b.

1/9/2009 12:30:10 PM

incase you didn't notice they give credit cards to people who can't afford them so that they can make money.
no one would go into business lending money that they know would always be paid back on time with no interest.

I'm Big Business and i approved this message.

1/9/2009 12:30:21 PM

whine much?

1/9/2009 12:36:48 PM

ATTN: losers with >1000 posts

1/9/2009 12:50:27 PM

think about it.

If you were a credit card company would you give someone a credit card if they had 10k, no expenses, zero debt and was working a full time job?

fuck no. why they fuck would they want a credit card now?

I'm Big Business and i approved this message.

1/9/2009 12:52:01 PM

Quote :

"Then every time I hear about all the shit that damages your score: paying off your cards, not paying off your cards, having too many cards, having too few cards, having too much available credit."

Money in the bank doesn't matter. It's the amount of money that you gross that matters to them.

Not making your monthly payments gets you in trouble.
Having too many open lines of credit gets you in trouble too.

Making payments on time is a good thing.

1/9/2009 1:16:49 PM

30k?! for what? School loans?

1/9/2009 1:18:44 PM

^Probably. Costly public school or some private school.

1/9/2009 1:23:50 PM

Quote :

"A couple years ago, I had 10k in the bank, almost no expenses, zero debt, was working a full time job, and my bank (where I had the money) wouldn't give me a credit card."

I too had this problem earlier in my career. I had already bought a $13k car and paid off the loan in less than two years, but the bank that financed me was a small bank that didn't report to credit agencies. I didn't even need a credit card; I just wanted it because I needed more some credit history to be able to buy a house.

They try to damn you for being responsible in college and not taking a credit card when those companies are practically throwing them at you.

[Edited on January 9, 2009 at 1:49 PM. Reason : l]

1/9/2009 1:47:37 PM

lol this is why i have a credit card, and pay for everything with it (and then pay it off shortly after)

1/9/2009 2:17:50 PM

QUESTION!
I had a car loan with a bank, paid it off, and then realized that they only put it on equifax. So if I go to get a new car or whatnot they don't see this wonderful credit score I should have. Is there a way that I can just call equifax and be like, 'hey will you tell the others about my good credit score'?

3/9/2009 6:41:09 PM

yes just send your pertinent info to them and write a nice letter on fancy stationary and bam!

3/9/2009 6:43:21 PM

Nope.

That's the bank's decision, not equifax'.

When you are applying for something and you want this considered, explain this, and then ask them to also pull an equifax report.

3/9/2009 6:43:47 PM

ok,

will them pulling multiple reports hurt my credit?

3/9/2009 6:45:40 PM

Cash rules everything around me...CREAM...get the money yall

3/9/2009 6:45:47 PM

Quote :

"will them pulling multiple reports hurt my credit?"

No
No
No

...No.

Please, please, please learn at least the basics about personal finance, credit, and how these things are communicated, decided, and work. I saw you're looking to buy a house, and you really need to be on top of everything before doing something big like that. I don't know where you stand on things like this, but often, the same people who worry about checking their own credit are the ones who don't keep on top of the personal finance game - there's a reason they ask questions like this in the first place.

3/9/2009 6:54:01 PM

what the hell do you think i'm doing now?

i'm trying to get on top of this stuff. and believe me tww is not my only source, just the quickest.


[Edited on March 9, 2009 at 7:03 PM. Reason : also, not buying a house anytime soon, just needing to get set up for it and see how it works.]

3/9/2009 6:59:57 PM

Just making sure.

It's scary how little people know about personal finance, how little they care, and how much stock they put into everything they hear.

3/9/2009 7:01:39 PM

financial guru, what's the diff between hard and soft reports? And will I ever need to be concerned with this difference?

3/9/2009 7:04:23 PM

One.
Two.
From the 2nd one:

Quote :

"hard pulls are ones where you’ve granted permission, they indicate that you’re actively seeking credit, they show up on your credit report for everyone to see, and they tend to have a slight negative impact on your credit score. "

3/9/2009 7:07:35 PM

From what I've heard, a lot of credit inquiries make it look like you might be applying for a lot of credit cards. So that's why people don't want their credit being pulled multiple times. I don't know the details of all of this, but I'm pretty sure there is generally a lot of misinformation going around about what is good and bad for your credit score.

And back to the original post. I'm always amazed when I hear people can't get credit. When I was in college I didn't really have any income and I got amex to give me 25k in credit without a co-signer. It didn't start that high but I just kept clicking the link every few months online to request a credit increase and it would automatically go up. That's probably one of the many reasons the US is in a terrible recession.

3/9/2009 8:37:46 PM

Quote :

"From what I've heard, a lot of credit inquiries make it look like you might be applying for a lot of credit cards. "

While this is true, it's not relevant here, as she's talking about soft pulls, and you're talking about hard pulls.

[Edited on March 9, 2009 at 8:45 PM. Reason : f]

3/9/2009 8:44:48 PM

Quote :

"often, the same people who worry about checking their own credit are the ones who don't keep on top of the personal finance game"

Not been a victim of credit fraud, eh? I live in paranoia nowadays as a result, and my finances are (and always have been) flawless.

3/9/2009 8:50:16 PM

Number six: that god damn credit, dead it
You think a crackhead payin' you back, shit, forget it

3/9/2009 9:03:43 PM

^^No...what I meant when I said 'worry about checking their own credit' are the ones who are worried that checking their own credit will have a negative impact - not the ones who stay on top of things

3/9/2009 9:12:36 PM

Ah, gotcha.

3/9/2009 9:13:54 PM