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Old 11-23-2010, 03:57 PM
 
136 posts, read 447,172 times
Reputation: 64

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Now look what there trying to do.


1st) They tell you that you need a good credit score to get a apartment
When that dose not work anymore they (Banks) tell you
2) They tell you that you need a good credit score to get a car loan
When that dose not work anymore they (Banks) tell you
3) You want to buy a house don't you. better keep that score up''
NONE OF THIS HAS WORKED

Now the banks are trying to scare you buy a job.

so everyone takes there 401 k to pay it all back then they lose everything anyway. Ask the millions of people that lost everything.

your-credit-score-matters-more-than-you-think: Personal Finance News from Yahoo! Finance

Your Credit Score Matters More Than You Think
by Jim Wang
Tuesday, November 23, 2010


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In many of my recent columns I've been writing a lot about credit reports and credit scores. Most of us don't need to be reminded of the importance of reviewing credit reports and fixing any errors, we know that keeping a clean and accurate credit report is important.
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Old 11-23-2010, 05:17 PM
 
8,265 posts, read 11,228,511 times
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I'm not sure what you mean when you keep saying "that does not work anymore" after each statement.
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Old 11-23-2010, 08:43 PM
 
111 posts, read 277,978 times
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I don't get why a credit score would ever matter if you have the necessary capital. People that don't have money shouldn't be buying new cars, houses etc anyway. I don't see what the problem is. What, you can't finance 300k with 9 grand anymore? Boo-hoo.
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Old 11-23-2010, 09:22 PM
 
136 posts, read 447,172 times
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Quote:
Originally Posted by slackjaw View Post
I'm not sure what you mean when you keep saying "that does not work anymore" after each statement.

What I was saying is that the banks want there money. People are defaulting like crazy.

The banks are trying differnt scare tatics after each one fails.
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Old 11-23-2010, 09:25 PM
 
136 posts, read 447,172 times
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Quote:
Originally Posted by Jerksticks View Post
I don't get why a credit score would ever matter if you have the necessary capital. People that don't have money shouldn't be buying new cars, houses etc anyway. I don't see what the problem is. What, you can't finance 300k with 9 grand anymore? Boo-hoo.
The banks get money with no interst then lend to good people that have been paying there bill all of there life then jack the interst rate to 30%.

people will not pay an your credit will be cut also.
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Old 11-23-2010, 10:43 PM
 
Location: Tucson/Nogales
20,310 posts, read 23,895,358 times
Reputation: 28116
If I were a bank lender, I'd ask:

Place and time of birth, birth date, please!

"Oh, let's see now, you have Moon in Virgo, Mars in Capricorn, you're probably a workaholic and how much can I lend you today?"

"Let's see now, you have no earth in your chart! Or Water! There's the door!"
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Old 11-23-2010, 11:01 PM
 
Location: Great State of Texas
86,068 posts, read 76,940,696 times
Reputation: 27653
They are lowering the bar due to so many people having bad credit.
They will now start looking at your future potential to pay back (via current salary) to offset bad debt you had in the past.

So walking away from that mortgage and then renting and staying debt free for a while will put you right back on easy street.

It's called FICO 8

New FICO 8 score catches on | Bankrate.com
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Old 11-24-2010, 11:10 AM
 
Location: West Michigan
654 posts, read 3,229,322 times
Reputation: 573
Heh, ask Dave Ramsey.

He claims that his score has been 0 for many years, but of course people like him have the cash to do just about anything.

Personally, credit I think really only matters if you are buying a house. Even for cars, you can do that with cash if you are dedicated in doing so. But you have many people that are so worried and constantly obsessed with their score that they often think that without a good score, you can't get anywhere. How wrong they are.

As I always feel, if a person has to buy something on credit then they couldn't afford it to begin with. Many stores and retailers make the push that you have to have it now and then lure people with credit to get them to spend what they don't have. I'd rather save my money and pay cash with it and feel good knowing that I won't be seeing a bill in the mail later, or having to worry about interest rates being out of control.

So does the credit score matter? Depends on the individual, but I know it doesn't matter that much to me. It's a number game, that's all it is.
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Old 11-24-2010, 11:24 AM
 
136 posts, read 447,172 times
Reputation: 64
A lot of people in debt. that had there %rate thinks the same way. the banks are scaring them to pay. people are finding out they don't need C.C. They can pound sand for jacking %

Look at the 99ers you think they care about a credit score now after everything is gone
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Old 11-24-2010, 11:30 AM
 
8,265 posts, read 11,228,511 times
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Yes, I do think most 99ers care about credit score.

Some have no choice, they just don't have the income and savings to make their payments... that isn't the same as not caring about it. Credit history can affect car insurance, employment, finding a place to rent, etc.
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