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I have been checking out what you said, trying to freeze my credit, then hopefully everyone but my bank will not be sending me anything at all in the mail.
Easiest way I know of is to go to Clark Howard's website. Once there, put in the search bar, "credit freeze". Up will come a list of his web articles on it, and how to do it. He answers a lot of questions about it, and explains how it's better than credit monitoring services (like Life Lock).
Back when we did it, it could be done online in 5 minutes. Now you may have to do so by mail. I guess they're trying to make it harder (less $$$ for them). Still worthwhile, though!
Easiest way I know of is to go to Clark Howard's website. Once there, put in the search bar, "credit freeze". Up will come a list of his web articles on it, and how to do it. He answers a lot of questions about it, and explains how it's better than credit monitoring services (like Life Lock).
Back when we did it, it could be done online in 5 minutes. Now you may have to do so by mail. I guess they're trying to make it harder (less $$$ for them). Still worthwhile, though!
I figure if I cannot pay cash for it, unless it is a monthly utility bill, then i do not really need it.
I figure if I cannot pay cash for it, unless it is a monthly utility bill, then i do not really need it.
With a credit score of 422 you must have really used it in the past. The people who have the least credit history have the highest credit scores. A long time realtor told me that the only 800 credit score that she'd ever seen was a person who had no mortgage and one credit card but hadn't used it for years.
Of course, most here remember your copper rebar with plastic coating.
Quote:
Originally Posted by monkeywrenching
no debt here.
even with a credit score of 422, the banks keep on trying to give me loans, and I keep saying no.
With a credit score of 422 you must have really used it in the past. The people who have the least credit history have the highest credit scores. A long time realtor told me that the only 800 credit score that she'd ever seen was a person who had no mortgage and one credit card but hadn't used it for years.
yes I screwed up in my fincial past, made some bad decisions in my financial life, but finally made it out of the hole and swore never to get into it again. was more than 20 years ago, but it was low then, and have had no reason to try and raise it.
With a credit score of 422 you must have really used it in the past. The people who have the least credit history have the highest credit scores. A long time realtor told me that the only 800 credit score that she'd ever seen was a person who had no mortgage and one credit card but hadn't used it for years.
Of course, most here remember your copper rebar with plastic coating.
If you are prudent about your debt, how much you take on and how you pay it, it is not a big deal to get past 800 in a credit score.... By prudent I mean you still have to take on debt. No credit cards and no debt will mean no credit history and low score. Lending money to someone you cannot assess is a risk.
If you are prudent about your debt, how much you take on and how you pay it, it is not a big deal to get past 800 in a credit score.... By prudent I mean you still have to take on debt. No credit cards and no debt will mean no credit history and low score. Lending money to someone you cannot assess is a risk.
not always, if you put a few hundred thousand in the bank and let it sit, plus the bank knows you have no mortgage, then banks will try to lend you money.
not always, if you put a few hundred thousand in the bank and let it sit, plus the bank knows you have no mortgage, then banks will try to lend you money.
It is often said that a banker will loan you an umbrella when the sun shines, but wants it back when it rains!
not always, if you put a few hundred thousand in the bank and let it sit, plus the bank knows you have no mortgage, then banks will try to lend you money.
Banks and lenders will send you vanilla offers, always and regardless of your credit (many people with poor credit still obtain it at high interest rates and this is mainly why they cannot get out of debt). If you have hundreds of thousands of dollars in the bank, your credit score is not that important when it comes to lending, I suppose. Most people with that kind of money either do not need loans or they borrow for some large projects. Money (usually) begets money. I used to work for a guy whose base salary was about $500K and bonus was probably near that. He had money in the bank but he still borrowed for a jumbo mortgage on a new house of $600K - it just made sense to do so with the interest rates being so low. As someone said somewhere - the key to being a great businessman is to NEVER use your own money - always try to borrow it or find investors. Wrap yourself in a corporation when doing so, to protect your own personal assets.
the best choice with debt is not to get into debt in the first place, live within your means, but most people haven't a clue, they want everything now and wont wait to save up for it so everything goes on the credit card even if they cant afford to pay it off at the end of the month, a lot of people here use one credit card to pay off another and have several. I only use a credit card for internet buying then its paid off in full at the end of the month, normal supermarket/store buying is done either with a debit card or cash.
I prefer paying cash. It's so uncomplicated - no computer chip, no ID needed, accepted everywhere. My credit card is for emergencies.
Also, it's easier to stay on budget by paying cash. Really cuts down on impulse buys. Yes, I am one of those shoppers who shops with a list, coupons and always has a calculator in one hand. I know how much money I have and I keep track of how much I have spent. When everything on the list is crossed off, any money left over can be used for frills.
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