Anyone here not care about credit?

[Chiron]

I could care less about credit.

I got my 30 yr fixed mortgage so i dont need it for a long time. 

reached 800 on my FAKOs. not sure on FICO

 

[Bert.]

You need credit to buy a house mainly

Unless you got cash to buy some low priced place

But if you want a 200k or more house, good luck with no credit

 

[doublemesh96]

serious? explain...........

That **** doesn't effect your physical well being. I've always wanted to live off the grid with no paper trail but the game is set up for you to fail if you don't participate like that. I try my best to do everything straight cash and it's a huge pain in the ***. Especially now with everybody asking if you have the RFID chip.

 

[stillin729]

people who say they don't care about credit will be in for a rude awakening when it's needed

go ahead and destroy it because it'll come back to get you sooner or later

 

[capital sb]

 
Credit is a tool, best believe I'm using all the tools afforded to me to get through this thing called life on top. 

That's exactly what it is, nothing more and nothing less. Credit is important to get you what you need.

People don't become wealthy by purchasing everything in cash. Liquidity is very important, just don't want to be over leveraged.

You can buy a car cash, but you can't purchase your home cash unless you can save hundreds of thousands...goodluck with that.

 

[polosanddunks]

people who say they don't care about credit will be in for a rude awakening when it's needed

go ahead and destroy it because it'll come back to get you sooner or later

Yep. Some of yall dudes gonna try doing something as simple as tryna get an apartment lease at places and they are gonna turn you down and you gonna be like cuz they saw ya credit was 400 with a bunch of collections or you had no credit at all. Or they are going to make you pay a ridiculous security deposit which you cant pay

 

[capital sb]

Brainwashing of america right here. Associating responsible spending with borrowing money. That's an oxymoron in itself. The "if you can't afford it, don't buy it" adage never failed me. Prosper OP

Secured credit cards do exist. I hate when people say you have to go in debt to build credit NO YOU DON'T.

Pay off your card in full every month and you will never go in debt. AMEX Charge cards achieve this as well (must be paid in full every month).

Yep. Some of yall dudes gonna try doing something as simple as tryna get an apartment lease at places and they are gonna turn you down and you gonna be like

cuz they saw ya credit was 400 with a bunch of collections or you had no credit at all. Or they are going to make you pay a ridiculous security deposit which you cant pay

Mannnn you can't even get cable or a phone line without having decent credit. Even to get electricity they run your credit to determine what your deposit will be.

 

[polosanddunks]

:x at maxing credit cards. Damn im glad that never happened with me but if it was on rough times I cant be mad at those that needed to

 

[sharpshooter718]

My credit is bad.. i dont owe anyone anything and thats my problem... never bought anything off credit... its crazy how my credit score is shot but im not in the hole. As soon as i owe some banks ill be good to go... *** backwards society. F credit more than F parole

 

[Thats My Word]

846, but im broke.

 

[doublemesh96]

My credit is bad.. i dont owe anyone anything and thats my problem... never bought anything off credit... its crazy how my credit score is shot but im not in the hole. As soon as i owe some banks ill be good to go... *** backwards society. F credit more than F parole

Exactly it's backwards. But it's not changing anytime soon it's get down or lay down

 

[polosanddunks]

846, but im broke.

at that score. The money will come

 

[capital sb]

LMAO you can tell who is really uninformed when it comes to credit.

"My credit is bad because I don't owe the bank thousands of dollars"

"As soon as I swipe a credit card I am in debt"

Easiest way to build credit, get a secured credit card. A secured credit card  is pretty much a secured loan.

Ex: Give the bank $250 for a secured CC. Your limit is $250 , you can use this card to buy gas and just pay it off every month.

Keep a secured card and pay off the statements for a year and your scores will be in the 700s.

I got a $500 secured card when I was 18 and my scores were in the 750s by time I was 19 I had no debt.

 

[jaypesoz]

My credit is bad.. i dont owe anyone anything and thats my problem... never bought anything off credit... its crazy how my credit score is shot but im not in the hole. As soon as i owe some banks ill be good to go... *** backwards society. F credit more than F parole

Exactly it's backwards. But it's not changing anytime soon it's get down or lay down

Credit is nothing but a game. While I'm sure it affects good people like you, it really can show how responsible a person is with money. And it's setup in a way to make irresponsible people pay, literally. But at the end of the day, if you're smart/responsible, it'll work in your favor.

 

[hennessy]

Credit is important.

Saving for retirement is just as important, IMO. Set up your paycheck so 10-15% goes into your retirement plan before you even get it so you don't think about it. If you start when you're 20 you have pretty much guaranteed yourself a comfortable stress free lifestyle upon retirement.

The crossroad I am at now is starting a business without the funds. Investors want equity in the company. I want to give them a payout once I break even and make some profit. Investors don't want that because they see the potential in the company. Since credit unions are nonprofit institutions whose owners are their customers and not stockholders, they don’t have to pay dividends. The credit union doesn't care equity. I would not be able to build my business legitimately in a way myself and my partners have full ownership without this tool. Credit unions are more flexible, fully engaged in the market and willing and able to lend money to small businesses. I'm not working for anyone else past my 30s. My empire will be built, on credit.

One of the business I'm a partner in right now we wanted to get NCAA licensing for our products to be able to use all of the team logos. We had to have a credit check done on ourselves as the owners and also the business itself.

Credit is important.

 

[brandon3000]

I try not to think too hard about it. But credit is just a part of the game man.

 

[rillo561]

Definitely a game, and you definitely have to be responsible. It can work in your favor or it can hold you back.

 

[filthyjiujitsu]

I try not to think too hard about it. But credit is just a part of the game man.

Best way of putting it. It's a game that banks on tons of ppl eventually losing.

 

[ogmcmxcii]

Secured credit cards do exist. I hate when people say you have to go in debt to build credit NO YOU DON'T.

Pay off your card in full every month and you will never go in debt. AMEX Charge cards achieve this as well (must be paid in full every month).



Mannnn you can't even get cable or a phone line without having decent credit. Even to get electricity they run your credit to determine what your deposit will be.

Well *shrugs* I don't really **** with cable anymore. Apple TV or Netflix

I'm going to be in the military for couple years so not worried extremely atm about it

 

[polosanddunks]

Its those dudes who wanna pop bottles every weekend in the club at $400 a pop and don't have the means to pay those off living CC to CC that are in trouble...

CC companies finessing them

 

[pdino]

Guy with 760+ credit vs guy with 620 credit score on a 250k house:

760+ credit score on 30yr mortgage - 3.5% interest rate, 1120$ principal and interest payment / month

600 credit score on 30yr mortgage - 5% interest rate, 1350$ principal and interest payment / month

+230$/month payment for 620

the 620 pays 83,000$ more interest over the course of the loan.

The only difference between these two people is their credit scores.

 

[capital sb]

Well *shrugs* I don't really **** with cable anymore. Apple TV or Netflix

I'm going to be in the military for couple years so not worried extremely atm about it

Hopefully you don't need to get a clearance while in the military. Bad credit will stop you from getting a clearance just FYI

 

[ogmcmxcii]

Hopefully you don't need to get a clearance while in the military. Bad credit will stop you from getting a clearance just FYI

A clearance to do what......,

 

[capital sb]

A clearance to do what......,

To work, to obtain certain positions within the military.

 

[ogmcmxcii]

To work, to obtain certain positions within the military.

What my credit got to do with defending the country

My credit isn't good so I can't enter this top secret facility