/biz/ - Business & Finance

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>>18417046

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>>18417046
I just turned 20 and my score is sitting at 784. It doesn’t mean anything if you don’t have much capital

>>18417090
>was at 815
>three years later maxed out all my credit cards
>never paid back a cent
>ignored all correspondence
>got as low at 380
>now bouncing back somehow

the jew is truly a perplexing beast, 586 is almost good enough for a credit card. why would he trust me again?

>>18417046
>805
>miss one $10 payment by a few days
>drop to 700

>>18417046
just started giving a fuck a year ago
got from 540ish to 680ish in a little over a year
>>18417111
>vantage

>>18417111
How much max ?

Never took any debt or credit. Have no credit file. Will never need one.

>>18417046
>>18417046
i dunno below 100 probably

>>18417210
$43k

>>18417216
did you pay back? did you not pay at all? what happened anon?

I’ve raised my score 80 points in the last 3 weeks

>>18417247
I just stopped paying and haven't paid since. they stopped trying to even contact me a year ago.

>>18417214
Unless you’re just a basement dwelling neet that’s rly good. People love leverage and most don’t survive the 10 yr cycle. Especially real estate fags.

>>18417111
>586 is almost good enough for a credit card.


I got a credit card with a 490. If you have a lot of in money your bank and no history of bankruptcy, they'll give you one.

>>18417046
0
Never owned a credit card and never will

>>18417574
Having no credit history is bad in the U.S.

>>18417634
>Having no credit history is bad in the U.S.
Who gives a fuck nigga

>>18417652
>Unless you’re just a basement dwelling neet that’s rly good

Your statement is wrong so I do.

>>18417282
u lucky fuck

>>18417652
>>>18417634
>>Having no credit history is bad in the U.S.
>Who gives a fuck nigga

Try getting a security clearance with no credit history.

>>18417898
Couldnt even make a coinbase account without getting banned...after sending money in. Same for an online bank account. Pist me off big time.

>all these redditorw bragging about not having credit
>Have 800 credited
>Can leverage 200k+ in loans if I want to "cash out"
This would leave me with 200k in assets plus no credit like you no credit faga
You guys are fucking retartds

>>18417898
>security clearance
Don't care never getting one
>>18417928
>Muh reddit
Don't care, never getting a Kike-o score bitch. Enjoy the Western version of the social credit system.
>You guys are fucking retartds
>Retartds
Kek

>>18417963
Coping nigger spotted
I can go buy 100k in hard assets and double that in cash loans all because I'm not a nigger like u lmaooooooo

>>18417046
682

>>18417898
>When you've managed to acquire one without a credit history

>>18417214
Just an entrepreneur who avoids leverage.

>>18418252
>I can go buy 100k in hard assets and double that in cash loans all because I'm not a nigger like u lmaooooooo
Then why haven't you done it yet nigger, I don't give a shit about how much money you make I'm not doing it out of fucking principle because I don't willingly participate in kike garbage.

SPI 'slave profitability index'

815

>>18418404
Cute, like 8k-10k? Never reveal your stack to anyone. You will become a personal loan officer
>t. 50k in savings alone and I only make 36k/yr after taxes

my credit score is 780. Prob going to buy a house soon once I have enough for the down payment.

>>18417046
>>18417111
>>18417155
>>18417634
>Burgers laugh at the Chinese social credit
>already have good goy point rating system for years
>working hard to earn their good goy points
>flexing on each other with their rating to prove they are the best goy

>>18419777
It's not a social credit, it's literal credit you retard.
The only thing it determines is whether you can get financial shit, unlike China's system where you get fucking shamed in the street for not being a Good Person™, as defined by what the fucking COMMUNISTS think is "good".

They're not comparable at all, and you're neither clever nor original in that retarded comparison.

t. non-Amerilard.

>>18419906
No, the only thing it determines is if you are a good goy and if you are borrowing enough money to consoom.
If you aren't a good goy you will get ostracized in society and can't even rent an apartment.

Never borrowed a single cent in my life, because I'm a not a slave like you. The Chinese system is objectively better.

>>18419928
>The Chinese system is objectively better.
And with that you're no longer worth talking to.

>>18419935
>No argument
NOOO i WILL NOT TALK TO YOU ANYMORE

Ok, kid.

I'm a brainlet who has no idea how credit works and therefore no credit score. I'm not getting involved with something I don't fully understand. People have tried to explain it and it just makes no sense to me.

>>18419366
>The cash in a single money clip being someone's stack
>The photo being mine
>You in this thread

>>18417898
I got a TS/SCI at 22 having never had a credit card in Minecraft.

>>18417046
750 + 4M ARPA. comfy as fuck.

>>18417046
No idea: I pay what’s owed without borrowing from others like some craven insect

Anyone used the Amex Global Transfer program to start a credit score in the US? Seems realistic to start out with a revolving amex with 5-10k of credit line. What score could you expect after a few months with this configuration (without carrying a balance of course)?

>>18419953
>Ok, kid.

>>18417046

775.

>>18417046
>burgers bragging about the jew-score they received as debt slaves
good goy

>>18419928
ITS NOT BORROWING YOU DIPSHIT

You use a credit card to buy basic shit you were gonna buy anyway, use that money you already had to pay the bill when it’s due, there you go credit
It’s not debt, it’s not loans, credit card debt only happens if you’re a fucking retard

Leave your basement

>>18420593
I don't think you understand how credit cards work.

>Good Goy Points
I've been trying to push this meme for months thanks for posting
Can someone put a merchant face on this meter ?

>>18420593
I love when people explain how credit cards and credit work and then don't realize how batshit retarded it is.

I suck at photo shop / paint

>>18420593
Always do the opposite of what biz/jews say

709 and not a single credit card

700 the only thing i use my credit for is taking out loans to buy crypto

>>18421901

You misunderstood the other anon.

People can use credit cards as a form of borrowing to spread the cost of items if they wish. They'll obviously be charged interest like any other form of debt.

To build a good credit score though for things like mortgages, you need a track record of credit usage to prove you're good with managing money and keeping on top of payments. You can do that with a credit card by buying items and paying off in full every month as the anon explained. That gives a track record of responsible money management without being charged a cent in interest.

That's how you use a credit card to build your credit history. Obviously it can be used as a financing tool as well in the normal way, but even that can be a smart move sometimes, particularly if you get a deal with an initial interest-free period.

Also, for shorter-term money management, being able to buy on a credit card and pay off in full at the end of the month without interest effectively allows a one month interest-free loan. That can be useful for low earners that have unexpected costs (such as house repair bills).

Credit card debt isn't a bad thing. It's only becomes bad if you can't afford the debt.

>>18422167
Listen, I understand the concept of credit cards and credit. It's fucking retarded though.

>That gives a track record of responsible money management without being charged a cent in interest.

Oh you mean like, paying rent and utilities on time every month? If timeliness and repayment ability were the only concerns, consistent rent and utility payments would factor into personal credit. They don't though, and the only logical explanation for that is that someone is placing that artificial limit on borrowing. Why?

>>18417913
>Couldnt even make a coinbase account without getting banned
Tell me, I assume that everyone gets offered the 100,000 euro monthly credit thing on coinbase? I've never bothered checking my credit score. I don't owe any money, have everything I want and have all the property and capital assets I can comfortably look after without it being a bother.

>>18422215
>the concept of credit cards
expensive debt used by idiots, simple as.

>>18422284
I get paid to use my credit card

>>18422272
even if you dont care about your score, using something like credit karma is good because itll let you know if some weird shit is going on, i.e. someone opened a line of credit in your name

>>18422215

Managing credit card debt tells lenders one key thing that rent and utility history doesn't though: How responsible is the person when the temptation of credit is there?

They want to weed the people out who can't control themselves, and I bet there are plenty of people who pay rent/utilities just fine, but get too carried away when a line of credit is sat there tempting them to buy things they can't afford.

If you pay your rent/utilities on time, great. But if you also have a $10k credit line and never borrow more than $2-3k, and always pay on time, the lender can be a lot more confident that you're responsible with money.

>>18417046
holy shit burgers are really pathetic
so, like you have to go into debt over and over again, pay it back with interest, just so you can rent an apartment? you truly are the goodest of goys

>>18417046
780. I've got over $200,000 credit limit across all my card accounts.

>>18422340

No actually. You can use credit cards and build up a responsible credit history without paying a single cent in interest. You can even use credit cards for one month interest-free loans if you wish.

>>18422317
>when you pay your highest expense on time consistently, the bank is going to have a hard time assessing your ability to pay a mortgage
It's too retarded. It only makes sense to bankers and people with more money than sense.

>>18422317
>They want to weed the people out who can't control themselves, and I bet there are plenty of people who pay rent/utilities just fine, but get too carried away when a line of credit is sat there tempting them to buy things they can't afford.


Exactly. It's easy to avoid overspending when you know buying some useless shit means you won't be able to pay rent or eat for the month. However whenever you're able to overspend and still pay your bills with seemingly no consequences, the temptation is a little much.


When you first get a credit it does kinda change the way you do finances because you know you're paying the bill later, so it's a little easy to lose track of finances. Just think of any money spent as being borrowed from your next paycheck rather than the bank, and it becomes a little easier to understand why people use them.

766. It was as low as 600 at one point. I'm guessing there has to be way bankers in Europe decide whether or not to give people loans, the difference is the people just can't see how it is (or what they use) to make that decision. I'd rather the so called "good goy points" since I can make plans with the knowledge I will get my loan when I need it.

>>18422388
>15 Accounts
How? did you lie about your income or something?

Also is there any repurcussions to doing so, my income has gone down this year but from the last time I applied for something it was higher and those settings are saved on my experian account.

>>18422388
What's your salary.

>>18422427
All of this is just operating under the assumption that people generally cannot manage debt without being forced to take on debt. It's a self fulfilling service. It's plainly a bad system when someone like me, who clearly can afford to pay a mortgage instead of rent, is flat out refused the opportunity to be a homeowner just because I made the personal financial decision of not opening a personal credit card.

Shit, I operate a single-owner LLC and have a business credit card with that. I've paid that off consistently for years, and file taxes as an individual, but nah that's not a demonstration of my ability to repay debt. It's a fucked system and that's obvious to anyone that doesn't have a leg up.

>>18417046
744
Not bad for a 21 year old tho

>>18417609

>>18422495
$160k

>>18422498
>It's plainly a bad system when someone like me, who clearly can afford to pay a mortgage instead of rent, is flat out refused the opportunity to be a homeowner just because I made the personal financial decision of not opening a personal credit card.


Well you just gotta pay cash for your house like you do with presumably everything else. Have you ever taken a loan for school or a car? There are plenty of way to build credit without a credit card.


I also agree that the system is bad. My credit took a massive hit because I dropped out of college for two years before finishing and never paid any of my student loans until I graduated. I never knew about it until I wanted to buy a car after I graduated and saw my credit score. The system sucks, but if you know the rules you gotta play by them. I work with a bunch of financially irresponsible retards so I kinda understand why they are so strict.

>>18417898
>Try getting a security clearance with no credit history.

You just say you have no debts, and manage your money well and you get a clearnce.

>>18422498

Dude the lenders don't know you personally. How can they possibly judge how good you are at managing debt when you've never managed debt before with the track record to show for it?

You're fighting against opening a credit card to prove debt responsibility (in an interest-free way, I might add). Okay, that's up to you. But it means you don't have any record of debt management, so they aren't going to lend you huge sums of money on the huge assumption you'd be fine.

Meanwhile, someone who does prove their ability to manage debt can clearly be trusted more with fewer assumptions required. They're viewed as less risky than you as the lender knows a lot more about their debt responsibility.

You might think it's retarded, but it's like proving you're a good driver without having ever driven a car. That's actually more retarded.

>>18422602
I paid off my very small ($5000) student loan years ago, and was told by the last person who checked my credit that the loan did not count towards my score. Even though I've literally already paid off a loan perfectly, I have no credit score. It's fucking garbage.

I have a car right now which I'm happy with. There's literally nothing I want so badly right now that I'm willing to open some dumb personal credit card just to play the credit building game.

>>18422602

>I work with a bunch of financially irresponsible retards so I kinda understand why they are so strict.

This. It's absolutely fucking breathtaking how bad some people can be with their finances. Literally maxing out credit and burying their head in the sand without a single thought regarding the ramifications.

But without detailed credit history, it's very difficult for lenders to distinguish the responsible from the irresponsible, and they'll always err on the side of caution.

>>18422637
>There's literally nothing I want so badly right now that I'm willing to open some dumb personal credit card just to play the credit building game.


Just apply for a credit card and charge all your monthly bills to it then pay it off every month. It takes literally no effort on your part.

>>18422631
How the fuck is it not obvious to anyone with half a brain that a person who has consistently paid expenses amounting to a higher cost than a potential mortgage has the ability to pay back debt??

>it's like proving you're a good driver without having ever driven a car
Except no, I've already paid the cost I'm being asked to pay, without issue, for years. It's just been rent, instead of equity. It's more like getting really good at driving in a really realistic, full-scale simulator and then being told that you don't even know what a car is for.

>>18422637

Dude if you're that stubborn and all about muh principles then maybe it would be better for the lenders to avoid getting involved with you. That in itself is behavior they aren't keen on.

>>18422677
>dude lol just get a credit card and use it like the debit card and cash you already have, to pay the expenses you already have no difficulty paying
>that's not retarded at all man c'mon play by the rules

No

>>18422693
>person who pays more than the cost of a mortgage every month with no issue for years, zero debt, consistent work
>bad risk

>person who lives off of their credit card, has $75k in student debt, and who has missed rent payments
>good risk

Got it. It's ass backwards.

>>18422700
Cash back rewards and bonuses make it worth it. I get 3% cash back on everything I buy with one credit card.

>>18422700
then dont bitch about not having credit

you cant have your cake and eat it too

>>18422680

Because, as already explained, you haven't shown how responsible you are with the temptation of credit being available to you. That's the real proof of financial responsibility.

>It's more like getting really good at driving in a really realistic, full-scale simulator and then being told that you don't even know what a car is for.

Not really. It's like you driving a simulator and then the lender choosing the guy who has actually drove the car instead.

Finance is not some human right. Banks make billions, and the interest they'll earn off you is a drop in the ocean. They can choose whether to lend you money or not. If everyone else puts the effort in to prove debt management more than you, the lenders will lend to them instead of you.

It's that simple. Work within the system like everyone else does, or deal with the consequences. You can't buy a house with principles though.

>>18419928
t. basement dweller that’s never left his house

>>18417046
I had 840, till they came out with the new updated models earlier this year. The new model dropped me to 809. Have not seen what my newest score is as the free one updates monthly and I think they may have omitted things as I am still 809 after getting unpaid leave, job should start back up once COVID-19 is done.
Should be interesting as last month I made $0, then this month on the 7th I just got my end of year bonus, tax refunds, a COVID-19 hardship payout, and some inheritance all at once. So 5 weeks with no earnings, then one day with 6 weeks of earnings at once. If they average things out my pay has changed very little, but it they look at the details and income sources my earns are bonkers. I have over a years in savings for a house buy I was planning, so I can sit this out reasonably well, just hope home prices drop equal to the savings i spend to cover my lack of pay.

>>18422755
Again, like I've already said, I operate an LLC that is just me, and I've regularly maintained my credit card with that bank for years. Never mind that it's just me using the credit though, my personal credit is still 0. That makes absolutely no sense and anyone that puts 30 seconds of thought into it knows that.

As for the car analogy, I still disagree. Sure, maybe it's like the lender choosing the guy that actually drove the car, but his real-life driving record includes multiple wrecks and infractions compared to my zero. It's garbage.

>>18422721

Okay you're just talking shit now. Credit card usage only improves a credit score if it shows responsible credit management. Someone who "lives off their credit card" would absolutely do more harm than good to their score.

But if you have a decent line of credit, only use a small amount occasionally, and pay it off in full, that shows you manage credit well and can resist any temptation to spend beyond your means = less risk.

Also, a credit score is just one part of a mortgage application. Lenders also consider monthly outgoings and other forms of debt, as the overall debt/income ratio massively influences how much they'll be prepared to lend you. So yes, the person with $75k student debt would find a mortgage application more difficult.

>>18422700
Well there's no helping you if you refuse to help yourself. Enjoy being a rentcuck your entire life or trying to save 400k for a house.


Like the other guy said, you could easily save money with cashback card, but obstinately refuse to take even the easiest method of building. In the bank's eyes if you refuse to borrow small amounts of money from them why should they trust you to borrow large amounts of money at significantly more risk to them?

You're a complete stranger asking to borrow anywhere from $400,000 to $1,000,000, why should they trust you if you refuse to even submit to what they consider a background check?

>>18417046
I went to hell and back bitch

>>18422795

The LLC is an entirely separate legal entity. You know this.

You have to remember that lenders need algorithms that minimize risk across millions of applications. They can't just tailor lending criteria to highly niche groups of people. Maybe that used to happen 200-300 years ago, but not these days.

>>18422810
>resist any temptation to spend beyond your means
Okay and exactly how is this not demonstrated by comparing someone's income and their financial obligations? Someone who is low-income but still pays rent and utilities on time has demonstrated exactly the resistance to temptation you mention.

>>18422811
>400k house
Lol I don't even want that. That's the problem here. I want to buy a small plot of land and build a small house on it myself (~500 sq ft) and I'm well aware that that can be done for less than $100k, and a mortgage for that amount would be less than what I currently pay between rent and expenses. I'm good for it in real life, just apparently not on paper.

>>18422865
Technological advances absolutely allow for more finely tailored lending but we're all going to act like that's not true. My fucking bank emailed me to ask me to fax them something once, that's how fucked these people are and how little they care about modernizing.

I'm aware that the LLC is a separate legal entity, but there's also a separate classification for single owner LLCs and those with multiple owners. If I file taxes for my company and myself using the same return, that's acknowledging that the LLC and I are one in the same. Seeing credit payments maintained by a single person and then saying "welp I actually don't know if you can manage a credit card *personally* though" is ass backwards.

>>18422795
>I operate an LLC that is just me, and I've regularly maintained my credit card with that bank for years. Never mind that it's just me using the credit though, my personal credit is still 0. That makes absolutely no sense and anyone that puts 30 seconds of thought into it knows that.


If you yourself put in more than 30 seconds of thought and swallow the massive cock in your throat which you have confused for pride, you'd realize that you could have been doing that for yourself this whole time as well. Corporations are separate entities from the people who found them, unless you want debtor's prison to come back. Establish personal credit or don't.


You're not a special snowflake.

>>18422869
>I'm well aware that that can be done for less than $100k, and a mortgage for that amount would be less than what I currently pay between rent and expenses.


Then save the money and pay for it in cash.

>>18422920
Why is it always such pessimistic, paradigm-suckling dimwits like you that show up and dominate the conversation? When will people actually reconsider all of this and realize how backwards and arbitrary it all is?

You do know we could change it, right?? You do know that there's some reason in what I'm saying, right? I'm not the only millennial in my situation; millions of people are low-income and for a multitude of reasons have ZERO interest in opening a credit card just to use it for payments they already make just fine otherwise. We could change this overnight, just like the government suddenly realizing they can send money to everyone, but people like you are actively preventing it.

>>18422946
>just save lol what's wrong with you
What part of "rent poor" are you missing? I can't save enough to get anywhere near $100,000 if I have to throw $650 into the rental black hole every month. That's the issue that me and a million other millennials have.

>>18419928
You do know chinks get punished for not participating in the systemyou fucking retard. gas yourself

If you don't borrow anything from them, they can't give you a number rating. This is what a perfect credit score looks like.

800
Reached that by having one credit card and that's it. Use it for all expenses and simply pay it off on full each month. Not fucking hard.

>>18417111
the tribe believe in forgiveness after 7 years

>>18422969
The current system works fine though. I've been screwed by it, but it was kinda my fault for being a fuckwit in college. Easy access to credit is why housing prices are so ridiculous now, so more stringent standard might be a net gain overall.

>What part of "rent poor" are you missing? I can't save enough to get anywhere near $100,000 if I have to throw $650 into the rental black hole every month. That's the issue that me and a million other millennials have.

If you know this then stop being a stubborn retard and play by the rules. It's pointless talking to you if you expect the banks to make a $100,000 concession to you while you refuse to make tiny concession to them. You know you can probably pay your $650/mo rent off a credit card and work towards building credit and saving towards a down payment at the same time?


You're ignoring the options that will help you. Your credit doesn't even have to be good to get a mortgage.

>>18422869

> Someone who is low-income but still pays rent and utilities on time has demonstrated exactly the resistance to temptation you mention.

Wrong. If they don't have a line of credit open, the temptation isn't there.

For the majority of people, there's a huge difference between the temptation to apply for credit, and the temptation when actually having the card sat there in front of them which can be used to buy beyond their means within a matter of seconds. It's addictive, and it's why a lot of people cut their credit cards up, as they don't trust themselves.

To use another car analogy, it's like you having never driven a car, but claiming that you'd never speed. Meanwhile, someone has had a car for years, with speeding as simple as pressing on the pedal under their foot, and they've never sped. Who do you trust more?

> Technological advances absolutely allow for more finely tailored lending but we're all going to act like that's not true

Maybe, but if it's more trouble than it's worth, they won't do it, particularly when 99.99% of people just do what needs to be done. Remember, a bank lending you money isn't a human right.

>>18417046
GOD DAMMIT I JUST HIT 750+ AND I WAS PLANNING TO BUY WITHIN THE NEXT 12 MONTHS

oh well, maybe it will work out to be perfect timing in my favour

>>18423110
>To use another car analogy, it's like you having never driven a car, but claiming that you'd never speed. Meanwhile, someone has had a car for years, with speeding as simple as pressing on the pedal under their foot, and they've never sped.
Nah, it's like someone claiming they'd never drink and drive because their car is a blow and go.

>>18422869
>I'm good for it in real life, just apparently not on paper.

You are such a fucking idiot. I’ve met toothless rednecks like you in real life. You are so proud to be against the system but then cry when someone doest hand you a hundred k based on trust and firm handshake.
If you want to be outside the system then don’t expect the system to work for you. It’s as simple as that. Like the other anon said, either save up hundred k yourself or show the bank you can play by their rules

>>18422969

This is typical leftist millennial entitlement.

The stricter the lending criteria are, the lower the risk is, and the better the interest rates that can be provided to people who have gone the extra mile to prove their credit worthiness.

As soon as you open more lending up to low income millennials who are too stubborn to open credit lines to help prove their worth, lending risk goes up, and lenders spread the risk out by charging everyone higher interest rates.

Why the fuck should I pay more interest just because you're too stubborn to use a completely interest-free way to build a history of managing credit?

>>18423171
>toothless redneck
Yeah stopped reading there. Wild assumption there, bud. What you and this dude >>18423110
keep spouting off amounts to "lol no one is going to lend to you if you don't have a record of being fiscally responsible" but then you revert to choking on that boomer paradigm cock and say "lol no your years long paper trails showing your fiscal responsibility isn't enough, you need to do the exact same thing just a different way".

Glad that "I've got mine so fuck you" attitude really sank in from your parents. Thanks for the help.

>>18423227
>that reading comprehension

>>18423186
this x infinity

the best news we've heard in a hundred years is that lending institutions are going to become more strict.
this is a good thing. now if "they" would do something similar for financial speculators and risk taking banks or other institutions that engage in dusious investing, then we could see more improvements

alot of things are "wrong" or "unfair" with the financial system and should be fixed. but this indication that banks are at least going to make consumer lending more strict, is a good thing.
but truly it is only one part of our socio-economic problems

>>18423227
And here you are when I use one card (for around 7 years now) and pay it off completely while you sit and spin. Yes, fuck kikes/usury, but good luck on eliminating their influence to get to where you want to be. 2008 didn't do shit. How does it feel some some nig who pays his bulls with credit cards and has debt can get better loans them you? Shitty, huh.

>>18419991
You buy something without paying for it incurring a debt. Then you pay for it later showing that you are good on your word and your credit score stays good. If you don’t pay it back then your credit score goes down and no one wants to loan money to someone who is known to not pay it back.

>>18423227
Again you’re personal idea of what fiscal responsibility means is not the same as the bank who you are asking to borrow a small fortune from.

This whole schtick you and the other loser white trash I’ve met do “why do I have to get credit my dollar is good enough” is fine but when you then complain that you can’t get a loan you sound like such a low iq entitled piece of shit

>>18423293
>>18423268
>>18423244
>>18423186
Hey fags just checked my credit score

>zero payment history data
>zero credit card use data
>zero derogatory remarks
>no credit age data
>one total account, closed
>zero hard inquiries

Score is 652. Great, looks like paying off that student loan actually hurt. Fuck this system and fuck people like you that endorse it instead of actively trying to come up with a better way.

>>18423369
>paying off student loans

>>18423369
>instead of actively trying to come up with a better way.
do i look like i'm in charge of the IRS or the US Fed Govt. Banking Regulation committee?

holy shit i freely admitted its not a perfect system and there's lots of other stuff to fix. but enforcing consumer responsibility is not a bad idea. should have been done along time ago. others have stated much of the 2008 housing bubble dilemma was almost entirely due to Clinton easing banking regulations and allowing banks to lend to just about anybody

>>18423389
It was $5000 over like five years, I never even felt the payments

This garbage about credit scores is so fucking dumb.

>Among consumers with a FICO Score of 652, the average credit card debt is $13,429.
>The credit reports of 41% of Americans with a FICO Score of 652 include late payments of 30 days past due.

Meanwhile I have zero debt and can clearly manage my money. This score is fucking useless in all actuality but the ding dongs in this thread will argue otherwise.

>>18423369
>Score is 652


You can easily get an FHA loan with a 652 score. Starting with a 650 and 0 zero accounts is a pristine starting point. I had to start with a 490 score, $43,000 in debt, and 15 past due accounts. Still only have 645. Stop being a whiny little bitch.

>>18423439
I literally just sent an application in yesterday for a USDA guaranteed loan, so eat a dick. Did you get a loan with those financials?

>>18423369

Since youhave no accounts I can see you are against credit. Right? So since you are against credit don’t expect any bank to extend it to you.

Now I’m guessing it’s because you don’t trust your self with a credit card or car loan. You probably don’t have great self control, maybe a few addictions, and come from a very poor background. I’m getting that just from your posts.

But theres plenty of books and YouTube videos you can check out for free about how to responsibly use credit do you aren’t so scared of it.

Theres an old saying “if you don’t love yourself, no one else is gonna love you”. Same with credit anon.. if you don’t trust yourself how do you expect anyone else to trust you

>>18423471
>Did you get a loan with those financials?


Yes, I got a $7000 limit credit card and a $9,000 auto loan 6% interest. All this happened within the span of year too.
If you're actually financially responsible you should have money in your bank which the lending the institution will consider.

>>18423485
>you are against credit
Come on dude catch up. I have a regularly maintained credit card for my LLC.
>it's because you don't trust yourself
Nah I'm actually good with my money, I just don't see the point in opening a new account just to pay the things I already pay a different way

I'm glad you took the time to generate some creative writing, though

>>18423433
>the ding dongs in this thread will argue otherwise.
do you not bother to read what people are actually sying in these posts?
nobody is saying its a perfect system. we (some of us) are supporting the "general concept" of lending institutions requiring consumer borrowers to be able to prove financial stability and responsibility, in the interest of avoiding defaults and all the problems that go along with it.
that is all. other problems in the system need to be addressed as well, but good luck seeing anybody in positions of power doing anything to bring up the idea forcing more regulation on wall street and in the stock markets or any other part of the banking system.
the cattle (you and I) are subject to rule. the privileged money aristocracy is immune to these rules and will remain so. I hate it too. but don't further ruin your own life over stressing about it
learn the rules and play the game as best you can. that's all any of us can do. were all in the same boat. some of us have accepted our fates, some of us (not me) have learned a few tricks to take advantage of things and get farther ahead than others.
but we're all living under the boot

>>18423521
I have about $5000 saved up, which I understand to be significantly more than most millennials. I don't really need a credit card or an auto loan right now though..

Looks like I’m the best goy on this board. I pay my denbts every month. Schlomo has my ass when it comes to my mortgage but he’s making no money off of me when it comes to usurious credit card debt.

>>18423541
>, I just don't see the point in opening a new account just to pay the things I already pay a different way


The build is point to build credit and buy a house you stupid cunt.

>>18423541
>Come on dude catch up. I have a regularly maintained credit card for my LLC.

That was the biggest red flag. The fact that the only card you would get was under an LLC and not your own personal liability. It shows you are desperate for credit and everything you can do with it but scared that you won’t be able to do it right.

That’s why instead of crying on here you should right now go get yourself educated on how credit works and that way you won’t be so scared of it

>>18423582
What's the point if I've already got a decent enough credit score to get a USDA loan?

>>18423582
>The build is point to build credit and buy a house you stupid cunt.
>i compooter button keeboard push uguu
lol, calm down bro

>>18423565
Honestly man, just kill yourself

>>18423574
ah, my good lad. ya doin fine.

>>18423610
lol you are just talking out your ass now. Yeah, the guy that has solid personal finances and no debt, who started his own LLC which has operated flawlessly for years, opened a business credit account because he was "desperate". Is this making you feel good about yourself??

>>18423636
Hahahaha ok ok 10/10 good troll

>>18423620
Nah fuck him, we've told hom REPEATEDLY why he should get a credit card. He doesn't get it, or refuses to get it.
>>18423613
I hope you do get your loan and realize that your interest rate could have been 5% lower had you not been an obstinate mule. Enjoy paying twice as much interest for literally no reason other than your own stubborn desire to be a retard.

>>18423661
people on /biz/ are fucking retarded

>>18417046
530 cause I don't give a fuck. I have 800 in unpaid medical debt. I usually pay my electric bill one or two days late. Such is life

>>18423670
I do ~`*get it*`~ but it seems like everyone is operating on different wavelengths here. We all are well aware of absolute mongs being handed loans to buy $250k houses. I'm clearly not a mong when it comes to money, and I want like $80k, so there is bound to be an option for someone like me that doesn't want to take the extra step of opening a card just to build credit just to get a loan. Get out of your assholes.

>>18423718
>so there is bound to be an option for someone like me that doesn't want to take the extra step of opening a card just to build credit just to get a loan.

The extra step is to buy the house in cash

>>18423761
>The extra step is to buy the house in cash


/thread

>>18423610
>go get yourself educated on how credit works
LOL. You should take your own advice anon. Corporate credit is guaranteed by the owners of the corporation with at least 20% ownership unless the business has ridiculous revenue of like 20 mil plus. I have a 40k cc with Chase and a 15k cc with BofA for my business and both required a personal and business credit check, a personal guarantee, and both are reported on my personal experian and transunion reports respectively, as well as my business' credit profiles.

>>18422388
what is a "Self reported" account?

>>18423830
The whole purpose of an LLC is to form a legal entity separating the owner from any personal liability.

The only way the owner would be personally responsible is if he co-signed the loan/credit card which I guess you did

>>18423830
How is your business credit reported on your personal report? I'm a single owner LLC but my business credit is not on my personal credit report

>>18423899
>The whole purpose of an LLC is to form a legal entity separating the owner from any personal liability.
Again, yes, but do you not see the absurdity in acknowledging that it's a single person managing the account(s) but not allowing that single person's financial activity to appear on that single person's credit report? If you open an LLC by yourself and then max out a bunch of credit cards, that shouldn't affect your ability to get a personal loan, under the current logic.

>>18423861
If you report your phone and utility bills, it can boost your credit score for paying on time.

>>18423966
What?? Report to whom?

>>18423949
>If you open an LLC by yourself and then max out a bunch of credit cards, that shouldn't affect your ability to get a personal loan, under the current logic.


This is true. I have a business that is an LLC. I’ve had to establish credit for it just like I had to establish my own personal credit. If I defaulted on loans, paid late etc it would destroy my credit for the LLC but it wouldn’t harm my personal credit because I kept them separate and didn’t consign.

>>18424015
And you
>>18423949
and this smart ass
>>18423830

Don’t know what an LLC is so you are either larping or trolling and either way wasting my time

>>18423986
Experian

>>18424015
See, to me that follows zero logic when the LLC is literally a single entity and taxed as such. Keeping the business' and one person's financials apart makes more sense if the business involves more than one person and hence the liability is spread between those people, but if you're filing your LLC and personal taxes at the same time, it seems like anyone examining your personal credit history should be able to take into account the credit you've maintained as a single-owner business. I guess co-signing for yourself is the step that makes that possible but it seems like something that should be automatic with single owner businesses.

>>18417282
did you set out to never pay in the first place or did the debt just become insurmountable? story?

>>18424054
I've operated an LLC for 5 years, what makes you think I don't?

>>18417282
Dam nigga whatchu wen all in on?

>>18417046
Pinned at 800 for like 3 years now

>>18422394
This goyim really wants you to goy it up n down

735
lost like 45 points when I paid off my student loans early
jew magic truly is mysterious

>>18423899
The purpose of an LLC is to protect the owner's personal assets in case of a lawsuit. If your business is sued by another business or individual they cannot come after your personal assets unless you have run your business in a way that "pierces the corporate veil", like mixing personal and business finances. Banks don't play by the same rules. Go ahead and don't pay your business' credit obligations with a bank for 3 months and watch what happens to your personal credit. I dare you.
>>18424054
>dont know what an LLC is
see above genius

>>18417046
Went from 500 to 735 in 2 years.

>>18424088
Then incorporate your business as a sole proprietorship if you want to have personal credit built off of it. The entire purpose of an LLC is that you are not personally liable for the debts of the business. Without being personally liable, there is no personal obligation to make good on the debt/credit of the LLC. Therefore, banks won't consider this as counting towards personal credit because you are absolved personally of any financial mismanagement for the LLC.

>>18424502
Finally some common sense

>>18417046
730 desu