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Thread: credit building

  1. #11
    Zealot James m's Avatar
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    Did you try calling those companies to make sure they are reporting to the credit bureaus.
    What's the difference between a crackhead and a tweaker?
    The crackhead will steal your shit and bounce--the tweaker will steal your shit and then help you look for it.

  2. #12
    Dinky Dau Montana Rancher's Avatar
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    Sorry to rain on the parades of the prior posts but this is the main point.

    1. you need to have credit and you need to make your payments on time

    2. You need to have stable employment history (at least 10 years with the same company)

    3. You need to have tangible assets.

    You will not get over 700 credit rating with only a good payment history, you will not get over 800 without a stable employment history and you will not get over 800 without substantial assets

    My suggestion after a lifetime of having 880ish credit rating is to avoid credit completely

    That being said I earn several thousand dollars in Costco rebates, and Cabelas bucks gaming the system, (I don't pay any interest on these cards)

    But I am older and benefited from the fiat currencies through the 80's and 90's and 00's.

  3. The Following User Says Thank You to Montana Rancher For This Useful Post:

    omegabrock (08-12-2014)

  4. #13
    Dinky Dau omegabrock's Avatar
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    hell, honestly i don't even care to have 700+...i just want it high enough to buy land and build a house lol

  5. #14
    Anti-social Behavior Slippy's Avatar
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    Quote Originally Posted by Montana Rancher View Post
    Sorry to rain on the parades of the prior posts but this is the main point.

    1. you need to have credit and you need to make your payments on time

    2. You need to have stable employment history (at least 10 years with the same company)

    3. You need to have tangible assets.

    You will not get over 700 credit rating with only a good payment history, you will not get over 800 without a stable employment history and you will not get over 800 without substantial assets

    My suggestion after a lifetime of having 880ish credit rating is to avoid credit completely

    That being said I earn several thousand dollars in Costco rebates, and Cabelas bucks gaming the system, (I don't pay any interest on these cards)

    But I am older and benefited from the fiat currencies through the 80's and 90's and 00's.
    At the risk of making The Montana Rancher mad...(whose posts and life experience stories I really enjoy reading)...there are some inaccuracies in the assumptions of FICO Credit Score...which used to be the Fair, Isaac and Co score system.
    Today, FICO scores are determined by some (but not limited to) the following criteria;

    Payment History
    Debt Burden
    Length of Credit History
    Court Judgements/Tax Liens etc

    Also, please note that the highest FICO credit score is 850.

    Please forgive me Montana Rancher and even though I am miles and miles away from you, please do not shoot me 'cause if there is anyone that can, it would be you!

    Respectfully, Your Friend, Slippy

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    omegabrock (08-13-2014)

  7. #15
    Dinky Dau Montana Rancher's Avatar
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    Quote Originally Posted by Slippy View Post
    At the risk of making The Montana Rancher mad...(whose posts and life experience stories I really enjoy reading)...there are some inaccuracies in the assumptions of FICO Credit Score...which used to be the Fair, Isaac and Co score system.
    Today, FICO scores are determined by some (but not limited to) the following criteria;

    Payment History
    Debt Burden
    Length of Credit History
    Court Judgements/Tax Liens etc

    Also, please note that the highest FICO credit score is 850.

    Please forgive me Montana Rancher and even though I am miles and miles away from you, please do not shoot me 'cause if there is anyone that can, it would be you!

    Respectfully, Your Friend, Slippy
    Thank you for keeping me honest, I get a credit report every year as I have Life Lock coverage and they send them.

    If I misstated my credit rating it was an honest mistake, I was thinking 880 and it could easily have been 780. Since I have no debt at all it is easy to lose focus on the actual numbers.

    Having a good credit rating just allows you to get into more debt, there are pros and cons to this thinking but IMO having less is better as we near the collapse

  8. The Following 2 Users Say Thank You to Montana Rancher For This Useful Post:

    omegabrock (08-13-2014),Slippy (08-13-2014)

  9. #16
    Dinky Dau omegabrock's Avatar
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    so, i pulled my credit yesterday from a site that is apparently more accurate in terms of what lenders look at and it was 611...the lending company i looked at said their minimum is 600 but it could also be worked around because im doing a VA loan and they look more to debt/income ratio. waiting to hear back on approval. the guy said he would let me know before lunch today. would have heard yesterday but the IT guys had to fix some stuff on his computer...all of this waiting is driving me up the ****ing wall...

    anyways, for the prayers, i could use some. for those that believe in luck, send some my way. this is 1 step closer to my life long dream if it goes through

  10. #17
    Little Miss Chatterbox 1moretoy's Avatar
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    Hope it all works out for ya

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