/biz/ - Business & Finance

>>11696855
790 over here. I can't wait to pass start sweet 800 mark

>>11696855
What meme is this? Pleb rankings? Hope we never see such thing in Europe.

Why do these numbers matter?

>>11696855
1.2% on my mortgage. No need for cuck score.

>>11696876
Its a debt cuck thing

>>11696895
So the bank is fooling you to take out more loans to improve your score? Seems like a thing brainlets only care ‘bout

>>11696918
amerimutts are mostly brainlets, whenever they want to buy something they go into debt, they get raised like that.

>>11696918
So people in burgerland get brainwashed into getting more and more debt to increase a score and with a higher score they pay less interest for even more debt?
How can I short this entire nation?

>>11696929
fucking ameritards

>>11696855
Isn't credit karma a scam? I'm sure your score is great but I've heard they sell your info to 3rd parties that try to charge you.

>>11696926
Really?
Why not just save up the money before buying shit one doesn't need?
I'm a eurofag, I never understood the whole culture around credit cards and debt etc, it seems kinda weird. Where I live, only the lowest pleb tier people go into debt to buy consumables etc.

>>11696929
Kind of. You don't have to go into debt to do it. But if you want to finance a house or a car one day you have to play the game to get a good interest rate. You dont get a high score by taking on a ton of debt, you get a high score by having an account open in good standing for a long time, and having a large credit limit but not using it.

Mines 741. Not to shabby. Most people fall in the 500 - 600 range. Pretty much the higher the score; the less interest percentage you pay. The number one way to kill your score; don't pay the bill on time. I've never missed a payment.

>>11696969
Also don't max out the card. Keep the balance at 10% of limit or under if you can.

>>11696955
This is stupid. This is stupid qnd criminal. There's zero chance this bet-your-future-chase-that-score game helps more people than it harms. This is a scam and you should be protesting it

Who my good little goy? You are!

>>11696969
Its usualy the plebs who miss the payment date, so the system is build around brainlets.

>>11696954
Well that's nice and a good plan, but what if you need a car? A decent car that ain't shit and about to blow up is gonna cost you. A decent used car is about 12k anymore. A new one you looking at 20k on up.

>>11696979
It hurts a lot of people. But if you arent dumb about it you can make money. I get 2% cash back on every purchase and pay it off the day before statement date. I'm always at a 0 balance and never get charged interest.

>>11696855
Recommend me a good credit card OP

>>11696993
Then you take out a car loan with almost no interest.

>>11696885
Goy score that Jews use to rate your credit worthiness.

>>11697015
Which you cant do in the US without a good credit score.

When I bought my first car on my own back in 2004 I got it w/the 5 year finance plan. Over the next years I basically lived like a hermit, ate little but I paid the sucker off in 3.5 years instead of 5. You better believe that helped my score big time.

Explain this "credit rating" to a non-Amerimutt, please.

Something like this doesn't exist in my country (snownigger country)

>>11696993

I'm not really a car person. I spend less than 20 minutes a day in the car. If it can reliably shuttle me around town without breaking down then it's good enough for me. I suppose that might be different since you yanks tend to spend a lot more time in the car.

My current car cost me about £2500. I bought it with cash. Going into debt for a swanky car is a crazy concept to me.

>>11697074
Never mind, I should have read the thread instead of being a retard.

>>11696994
This. If you're too dumb to manage a discover card then you deserve to get cucked by interest. Think of it as your excessive spending gene being rejected by nature.

>>11696855
What the hell is a pops?

>>11697205
pops = dad.

The score only stays high if you never really use the borrowing capacity you have. Last year, I saw good investment opportunities, so I racked up the debt and invested. Paid it all off and made a nice-ass profit, but my credit score took a huge shit, even though I always paid everything in full and on time. Credit score never recovered, even after months of being back to the normal wagecuck life with loads of spare credit capacity not being used.

Btw here's how you newfags can quickly build good credit.

1. Apply for a secured card and a bunch of store cards.

2. Take out a credit builder loan.

3. Treat all store cards and the secured card as a debit card and maintain a utilization rate below 10%.

4. NEVER miss a payment.

5. Wait for a year or two and then apply for better cards with rewards and then keep going.

>>11696855
YES, THANK YOU FOR YOUR CONTRIBUTION GOY!

>that awkward moment when people realize Hitler was right, while doing personal finance

>>11696969
CHECKED

>>11697018
Why would you need a credit?

/madeit/
Under 800, RIP

>>11697277
I got a $500 secured card. Do you mean I should use $50 top? Or $450?

>>11697444
never go above $50. literally just use it to get gas then pay it off completely every month so you dont get charged the 25% (compounding) interest

/madeit/
Under 800, RIP

>>11696855

You can’t have a good credit score unless you’re always in debt. If you’re debt free your score will be shitty. Stay cucked.

>>11696951
They definitely sell your information to banks and stuff. I have been getting spam mail offering personal loans from Citizens Bank ever since I signed up.

But being able to check your credit score whenever is nice. They also have other features like telling you when your email and passwords appear in data breaches.

>>11697205
Doesn't know what a dad is
T. Nigger

>>11697008
Chase sapphire.

>>11697610
>personal loans

im not even from the US and im getting letters in the mail for this shit (from the countries biggest banks too).

Just got approved for AMEX Gold Card at 20 years old. I even managed to get the limited edition rose gold. Can't wait till I get this puppy in the mail

>>11697277
less than 25% utilization is good. also, another tip... get a charge card down the road (utilization isn't reported)

>>11696993
I bought a 12k€ car with my savings from my first year of work.

>>11697483
This isn't the case at all. You get penalized for being in too much debt or using above 5% of your available credit.

>>11697855
You could've gotten a 12k car on loan with 2k down and put 10k into bitcoin. Or stocks. Or anything.
t. yuropoors thinking all debt is bad debt instead of utilizing it to their advantage to get ahead
You gonna live in your moms basement till you're 60 when you've finally saved up 700k for a London flat?

>>11696993

A guy I work with bought his car 6 years ago for $1,400.

>>11696977
>>11696977
Balance meaning what you charge to it each month.

PAY IT OFF IN FULL EACH MONTH.

Don't pay money to the credit companies. They should be paying you.

>>11696955
People on biz truly will never understand.
You will need to borrow money for a MTG unless you rent/live with ur parents and save up for 30 yrs. Same with a car loan unless you save up for 4 or 5 yrs and take the bus.
Putting your kids through college -you will need a loan

Banks are so heavily regulated and weighted in the borrowers favor nowadays that youll get the same low rate anywhere and can get out of paying by declaring ch. 7 or 12 bankruptcy and fuck the bank over

>>11698241

NPC as fuck

>Buy a used car in cash. They still cost less than 10K for a reliable car.
>You can avoid a mortgage by buying a small prefab house for under 100K
>Putting your kids through college - YOU HAD 18 FUCKING YEARS TO SAVE UP $50,000 THAT'S 3,000 PER YEAR and that's assuming your kids are complete tards and can't get any kind of state-sponsored scholarship or work while they're in school.

>>11698339
I agree with the car
Houses aren't 100k unless they're super shitty. Saving for children's college while also saving for retirement is cancer and leaves thin margins for most people. Also need to keep in mind the wife will likely not be working when you have kids also making margins worse

>>11697873

If you have a large amount of student loans that you pay off your score will drop by 50-100 points. The system is designed to reward people who stay in debt

>>11696855
so how did you do that? Did you get a bunch of loans and pay them off or what?

>>11698755

You can get a decent towhome in the ~$150K range in most places in the US. If you choose to live in a HCOL area, that's your fault for being stupid.

>>11699382
You can choose to live in a shitty house yes. Also can't forget the cost of raising a kid is like 250k now.
If you want a decent house with space for a family you'll very likely need a loan at some point in your life

What are the best credit cards that give the most % cash back?

Fuck man, I'm American and have always paid cash for cars, education, and houses. It wasn't even that hard and you get a much better deal that way. Imagine the stupidity of worshipping at the altar of the good goy score. Go read up on Dave Ramsey or something.

Mine was 847 but went down when I paid off my student loan

>tfw 776

Will be at 800 once my car is paid off.

>>11700263
Yeah I dont get it. Ive had a super high score and a super low score, but some ppl are being a little too obsessed with a score that just represents how likely you are to make payments regularly without any hiccups.

>>11700263
I live in Atlanta. Even making 100k a year you won't be able to pay for a decent house for 6 or 7 years. Some people don't wanna wait until their 40s to invest in property.

>live in the country faggot!

No jobs in the country faggot.

>>11700340
Its possible your rating can drop because apparently having a mix of credit, such as an installment loan and revolving credit card, looks good.

>>11700394
I'm in Florida now but I used to live in Acworth so I know something about the ATL housing market. For a lot of people like you, the damage is done, i.e., you've been following the path outlined in OP so naturally it is almost impossible to just switch it up now and "pay cash for everything". But don't compound the error by doubling and tripling down. If you already have a mortgage, pay it off as quick as you can. If you have multiple leased cars, get rid of them and buy used, if you have a bunch of unnecessary expenses, cut back and pay down whatever debt you have. If you're gonna use credit cards, use them responsibly. Pay them off every month. Do all that shit then in a few years, be debt free and relax. Save your chips and retire in style. For anybody just starting out, don't get into debt in the first place. Neither path guarantees happiness but having more of your own money in your pocket will make unhappiness a lot easier to live with.
As for myself, my car is paid for, I paid for university by working a job, and my house which I purchased at the bottom of the market a few years ago is also paid for. I am for all intents and purposes retired at the age of 41. I chill at the beach whenever I feel like it, trade bitcoins as a hobby and still have a few projects when I get the programming urge (computer science major). Thanks to living frugally and not giving a fuck about an Isaac score, I'm now experiencing the real American dream.

>>11696876
It's a good goy score. The higher it is the less you have to pay for your oxygen tax.

>>11696855

650 Master race here, 800 is for faggots, you need to use your credit and have fun with it, buy stuff, start a business, etc, credit is a waste if you never use it, and trust me even with my score they still give you more credit.

>>11697024
Precisely, good luck getting a car loan under buttfuck% apr without any prior credit history. Good luck getting approved for an apartment too, for that matter. I even had trouble being verified with my internet provider when I first got my own place since I had little credit history.

>Borrow & buy shares in undervalued companies
>Reliably get dividends covering interest payments
>interest payments offset income tax in aus
>get 50% discount after holding shares for a year on tax payable at end
>churn shares so you pay minimal tax

You have no idea how many people I know that earn millions a year at their job, invest like this and have nest eggs that would put them on the "forbes" list here. Combine this strategy with tiny interest rates, a bucket company and trust, and distributing across family members and trusted friends, you literally never will have to worry about money. Interest rates payable matters hugely. I'm 19 & rated 820/1000, when my energy bills come through & my phone plan goes from prepaid to a plan, I should be able to borrow cheaper than inflation in this shithole.

>>11700638
>Credit score so low you'll barely be approved to live anywhere besides niggerville
>just have fun brah heh, buy shit you can't afford YOLO lmao

the absolute state of burgers...

>>11700679

Bro i got cash, finding places to live is not hard when you can pay 3 months rent up front in cash

>>11700679

And i still got 7,000 in credit left if i want to use it, YOLO

>>11696855

do amaricans love there debit that much that they even meassure there dick-size in credit score.

travel to europa, buy a house, get 300k$ for 1% interest rate and free on Credit cards.

We didnt even managed to create a housing bubble with our „everyone is worth the same“ ranking.

>>11700918

well the US is pure capitalism, peeps work for banks and not vice versa like in Europe.

The stupid thing is, most US banks are owned by old banks from UK, Swiss, Germany, Austria, Spain.

Back in the young days of America and the US, banks were built from Europe capital, therefore they own literally everything.

What can I do with good credit?

t.creditlet and just got a credit card at the age of 29. Just got a credit score of 758 and looking to hit 790 this month and 800 by 2019

>>11700918
Your interest rates are low because your economy sucks. No free lunch.
>>11700978
>Back in the young days of America and the US, banks were built from Europe capital, therefore they own literally everything
Yet somehow America's economy is larger than Europe's with only 2/3 the population.

>>11697798

If you get excited about the color of your payment card you are a true zoomer idiot.

>being a good goy
lol at you OP

>>11697369
To get approved for loans. It shows that you are responsible and functioning adult who can manage their own finances. (((They))) use it when assessing your loan application to determine how much you will get approved for and at what interest rate. You need credit. I can max out my credit cards right now if I really had to pay $10k for an emergency.

>>11696855
Credit rating of 998, mortgage rate of 1.2%. 1.4mil in clear assets n still get pissed when I loose a few hundred bucks in poor trades. Neet for life. Comfy af.

You can literally just spend what you would normally on a credit card and pay it all off in lump to build these scores. The point of them is so that lenders know youre not a retard. Useful if you want to do real estate investing or start up a business. People here only "understand" crypto though.

I have ~750 last time I checked, but I only have one card, a 1k line of credit, and no outstanding debts. Even then, it's almost irrelevant once you reach a certain income level.