 Can paying off old delinquent and charged off accounts improve my credit? |
| I am trying to repair my credit. I have a lot of delinquent and charged off accounts. Will my credit still improve even though they have already been charged off?... |
|
 How do I build/repair my credit score? |
| I have very limited credit history. I started this January. I read that I have to get a few credit cards to build credit history. I have a secured card from Citibank which only has 200 credit limit. ... |
|
 Can my credit card used by another person ? |
Hi ..
I have a credit card, and I want to lend it to my sister. Can she use that credit card free ? I mean, normally I have to sign when I pay using the card, so is it OK if my sister use ... |
|
 Will i be found by debt collectors in other country? |
| Im moving a country for good, as my fiancee not from here.I dont know when i will get job in other country, but i have loan here and credit card.If i stop paid can they find me in other country.And ... |
|
 Do you think credit should be taught in junior high or highschool? |
| My parents did a great job raising me. They taught me so many things, but they failed in one area - teaching me ANYTHING about credit: how it works, how important it is, how to use it instead of ... |
|
 Can I pay my current credit card bill in advance so I'll be credited when my next bill comes.? |
| I just received my bill. I made a big purchase just after the current bill cycle ended so I don't see that purchase on there. I would like to pay extra on this current bill so I'll be ... |
|
 Credit card for bad credit.? |
| Im not sure how good/bad my credit is as im waiting for report, im fairly sure its quit bad though. What credit cards are the best for bad credit rating? Ive already been declined by capital one and ... |
|
 Can a 17 year old get a loan? |
with a cosigner with good credit?
or can my parents get a loan for 4 thousand and can it be transfered to me when i am 18?
i have 2 thousand already i have been saving ... |
|
 Do credit repair Co. really repair you credit by improving your credit score? |
| I was wondering if anyone who has been to these credit repair companies? If so, do they really repair your credit? Bye how much? How much did it cost? How long was the process? What's the ... |
|
 We are on 2 years ARM of house mortgage and want to refinace.? |
| Our 2 years ARM house loan is coming up on next July and we plan to refinance our house loan. We plan to get a loan thru wellsfargo. What should we do? Will we need to pay lots of penalty for our ... |
|
 Should I pay my credit cards in full or just the minimum?? |
| I've heard very different responses from many people and I don't know which one is true. My dad said to not constantly pay in full and others are telling me to pay in full every month. S... |
|
 I have a problem paying 1 credit card, please read on & help, if you've been thru it or know what's best |
| I have several credit cards & a loan. I've always paid my payments, perfectly. One card, however, is becoming very difficult. I guess it's the "fine print" kicking in. So I... |
|
| Does applying for too many credit cards hurt your credit score? |
| I have excellent credit and do not need any more cards, but some of the offers we receive in the mail look too good to pass up. Is it harmful to obtain them and then later cancel them, if you ... |
|
 How long does credit delinquency stay on record? |
| I had a late payment of 180 days (don't even ask) but now I'm making payments. So would that still pop up as a current delinquency if iI were to apply for something like a motorcycle. or ... |
|
| My mom is ruining my credit, what do I do? |
| A couple years ago, I didnt have any credit, and my mom added me to her credit card. She said it would only help it. Well what she was really doing was hiding the credit card from my dad under my ... |
|
 The attorney has sent me papers saying I have 15 days to agree to some form of payment? |
| The forms say they have file and have been granted judgement to garnish my pay checks. I met all of my deadlines to file my response to deny this credit card charges with the court and even asked for ... |
|
|  |
fbomonkey | Why does everybody love debt? |
I recently answered a question about how to build credit. Why do you want it is what I want to know! I have 2 very nice paid for cars (one is a classic hotrod), I don't have to worry about making my credit card payment at the end of the month, and if I wanna buy somthing frivolis I have the cash to do it on the spot.
Why in God's name do all of you want to live with the threat of finacial ruin. Many people live in fear of losing their homes if they get laid off. I have managed my money and built up large sums of cash on a 25k job a year. I could quite now and take a 3 month vacation before I got serious about looking for a new job. I did it by not messin with stupid credit.
Why do all of you mess with somthing as stupid as a credit card?
Additional Details
For over a year I have been attacking the FICO score as a bogus measure of winning. All it measures is your interaction with debt. It is composed of 35 percent payment history, 30 percent amount of debt, 15 percent length of credit history, 10 percent type of debt, 10 percent applying for new credit.
So it really is the “I love debt” score because there is no way to have a great FICO score without getting into debt and staying in debt. If you make $1 million per year and have $10 million in the bank, you can have a low FICO score simply because you don’t borrow. So we tell people they can get a mortgage with a manual underwritten loan if they never borrow by paying their landlord early or on time and being on the job for two years.
The FICO score people are mad, oh darn.
http://www.daveramsey.com/ |
 |
 
capollar
|
different strokes for different folks, why does this upset you so?
I use my credit cards religiously, pay them in full EVERY month (have for years), however it does take some discipline
When I have a large bill to pay (like a car repair) i do not have to run to the bank and withdrawl cash, I do not having to worry about carrying large sums of cash when on vacations etc. and make points for using my credit cards, which in turn earns me free stuff (in my situation I use a grocery store master card and earn about $300 in free groceries a year, I treat my family to Angus steaks and full Lobsters for New Years Eve and it does not cost me a single dime)
so why are YOU so afraid of credit anyway???
imagine the free stuff YOU could have earned if you had been using a credit card |
|
what?
|
because having good credit can save you a lot of money. the better your credit, the better interest rate you can get on a home loan, etc...
also, most credit cards have bonus rewards programs. if i were you, i would use my credit card all the time instead of using cash. then pay the balance in full. then you can get free stuff... |
|
Hoa N
 |
wey talk to yorself. I do not have debt. my car is paid off, my 401k+roth IRA is 74000, 30000 in cash account.
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.
http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
>...http://www.streettalklive.com>... university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:
fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy
technical analysis==(chart+indicator)>> when to buy
Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live
At the age of 32. my 401k is amassed 74,000.00 and 30000.00 in taxble account. by follow simple rule |
|
Vadalia
 |
Because you need to build credit to get good rates on "good debt" such as a home. Part of building credit is getting credit cards because if you don't have credit, it's just as bad as having bad credit.
A credit card, in and of itself, is not bad. People just use it poorly. |
|
KALEL
 |
I pay off my card every month. If I can't afford it, I don't buy it. I have never paid a penny of interest. I have never had a late fee.
I make a good living, income only a little hgher than yours, and have always been a save-first, buy-later kind of guy. Even with my house... I saved up, and essentially bought it outright. I HATE paying interest. I refuse to pay interest. My credit is terrific... not that I would be stupid enough to charge up to my limits (which are very high).
When everyone and their dog had cellphones, I waited years until I found a plan that worked for me. $50 per year for 500 minutes, T-mobile prepaid, and I have used 90 minutes over 4 months so far.
We live in a culture of "immediate gratification." No one wants to wait for anything. They want it now. Never mind that if they wait and save up, they can have twice as much stuff for the same amounts spent. The media pounds us with messages of "you must have..." whatever item they are peddling. And you must have it now, now now.
However, good credit is a must for almost everyone in the country. How many people will buy a house or a car in a single payment? But they figure it out too late, after they have been irresponsible, and then they beg for advice to restore their credit.
I feel sorry for them. High schools should drop the Driver's Ed course, and add a Buyers Beware course, with basic financial skills. I believe many people would handle their money the way I do, if only someone had shown them how.
BTW, saving up and buying later doesn't mean you don't use credit. After I have the available cash, I charge the item, then pay off the card. That way you get the added benefit of the rewards plans from credit cards. |
|
woodsrider66
|
Because people want stuff now instead of working for it. I have two payments every month. The house and the van. The van was purchased through a loan from my 401k, so essentially all the P&I paid goes right back into my 401k.
I can't tell you how many friends of mine buy stuff (new cars, boats, RV's, motorcycles) on credit, then get strapped financially. To bail themselves out they take out a second mortgage to pay it all off. All of a sudden they have all this extra income, so guess what, they buy more stuff. Funny part is, most of their stuff just sits around and depreciates in value. |
|
JuJitsu_Fan
 |
Well, bravo for you. Obviously you don't own a home, have student loans or have a spouse and kids. Some people try to do what you described, but need to just wait until the end of month to pay those bills.
NOW, there are those that carry debt out of ego and they want the best and want it NOW. they are the ones that are will to face financial ruin in order to own the latest and greatest 'in thing'. |
|
Mrs. Strain
 |
I totally agree. I paid cash for my house. We do not use credit cards. We live within our means. I think somewhere along the way, people developed a sense of entitlement for things that they haven't earned or will never be able to afford. And they lost the ability to value what is most important - providing a secure future for their families. |
|
escapegrl1
|
I know what you mean. I was like you till I moved out on my own. I had a nice amount of cash, paid all CC bills in full every month, bought used cars cash but then I moved out and finished college. Had to start using the CC's but you have to know how to play the game too. I'm very good at it too. All CC debt isn't bad if it's for furthering your education and making an investment in yourself. |
|
doofuss
|
I have a credit card only for convenience, and to avoid carrying a lot of cash. It takes discipline. I've got it, and you've obviously got it. It sounds like you know how to manage your money and to save. I think that's great.
I suggest you give some thought to investing some of your money in something that is comfortable for you whether it's bonds, high quality stocks, CD's, or mutual funds. I'll bet you've already looked into this .
You probably have learned about the build-up of money as a result of compounding. |
|
misty_51273
|
i have one just to build credit as i paid cash for everything before I pay the balance in full every month |
|
Steve R
|
There are cards out there that will give you 5% back on your gas purchases, and 1% back on everything else. I get back $500 per year. Never give away free money. |
|
echo
 |
Ah, after looking to see what question you answered, I see now why you are asking this.
FICO is NOT a measure of how much a person "likes debt".
You claim that the only way to raise FICO scores is to go into debt - very untrue. Please elaborate, if you can, how FICO raises ONLY if a person goes into debt.
Available credit IS NOT debt.
You talk about having no credit and when you need to make a large purchase, 'speaking to a manual underwriter that will see you as a person and not a number' - won't work for MANY people.
Underwriters have guidelines that they have to follow, while they can tweak them a bit, they can't tweak them that much for the average person.
I also like to "keep" my money. While I do have credit, I pay in full, rack up my rewards points and make the credit "work" for me!!
I guess a lot of people can follow your "leader". They can file bankruptcy, write a book about it and make a fortune (and not pay off the people that were stiffed in the bankruptcy) - and still be standing on the sidewalk in a city they are visiting because they "cannot" do something as simple as rent a car.
If your millionaire leader is shown the door at a car rental company, how do you think the average person (non-millionaire) will be treated in an underwriters office. That underwriter will probably be laughing for weeks. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
12 | 29 minutes(s) ago
| | | |
13 | 1 hour(s) ago
| | | |
13 | 5 hour(s) ago
| | | |
5 | 7 hour(s) ago
| | | |
12 | 8 hour(s) ago
| | | |
11 | 10 hour(s) ago
| | | |
13 | 11 hour(s) ago
| | | |
13 | 2 day(s) ago
| | | |
13 | 6 day(s) ago
| | | |
14 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
