Credit (Cards and scoring)

Discussion in 'Men's Economics' started by Wunderpus, Nov 29, 2018.

  1. T-Bagger

    T-Bagger Member

    Hell, you don’t even need to make a spreadsheet in Excel. They have apps and everything for budgeting.
     
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  2. Mac11wildcat

    Mac11wildcat Member AnabolicLab.com Supporter

    IMO home lenders are WAY over lending even after the collapse a decade or two ago. Still insane to me.
     
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  3. MindlessWork

    MindlessWork Member AnabolicLab.com Supporter

    I bought my home last year and got FHA mortgage with 3.5% down and yes had more hoops to jump through. Owned several homes over the years.
     
  4. I’m not sure if that’s the case with minority applicants. Lol. Although it does appear the data is trending in a positive direction.
     
    MindlessWork likes this.
  5. MindlessWork

    MindlessWork Member AnabolicLab.com Supporter

    Minorities still have it tough when it comes to getting a mortgage.
     
    strongsafety41 likes this.
  6. Ole skool control freak here. Love the freedom of plugging and chugging and building every possible situation I see fit.
     
  7. Agreed, just more red tape. I’m a vet though so we get assistance with va loans/jumbo loans etc. which equates to more red tape. Lol
     
    Ultimatepip likes this.
  8. MindlessWork

    MindlessWork Member AnabolicLab.com Supporter

    Any government loan program can be frustrating that's for sure.
     
    strongsafety41 likes this.
  9. If you’re a disabled vet recieving benefits be sure to gross up your disability income on credit applications.

    Meaning in the other/additional income field (if the field is gross) be sure to add your benefits amount * your tax bracket. Otherwise they’ll record it as is, so it is basically your net (because it’s tax free) but recorded as gross.
     
  10. Wunderpus

    Wunderpus Member AnabolicLab.com Supporter

    Guys, I found this interesting... Where do you stack up in your age bracket for credit scores? Above, below or at the national average?

    • 18-29 years old: 652
    • 30-39 years old: 671
    • 40-49 years old: 685
    • 50-59 years old: 709
    • Age 60+: 743
     
  11. Mac11wildcat

    Mac11wildcat Member AnabolicLab.com Supporter

    100pts north of my age bracket (I’m 28)
     
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  12. Wunderpus

    Wunderpus Member AnabolicLab.com Supporter

    Nice! At your age, hitting 800 is virtually impossible unless you were an authorized user on someone else's card as a kid... I personally think that's fucking retarded... You're at a disadvantage based on your age, and for no other reason... Which means, higher interest rates etc. JUST because of when you were born... Seems like discrimination, to me.
     
    Mac11wildcat likes this.
  13. Mac11wildcat

    Mac11wildcat Member AnabolicLab.com Supporter

    Yeah this is 2018. You’re right. Who wants in on the class action lawsuit??
     
  14. Above. Although they were times in my younger days that I had to do what you’ve done and are sharing with others through this thread. I educated myself and rebuilt my credit.
     
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  15. Perrin Aybara

    Perrin Aybara Member

    Mid 700's at 34. What's hurting me is my credit was trashed in my 20's and I just started rebuilding in 2014, so the age of my accounts sucks. I've been meticulous about it since I started working to build it back up.
     
  16. Perrin Aybara

    Perrin Aybara Member

    Also take full advantage of rewards cards. Never pay any interest because I pay off in full every month. Discover It card has rotating 5% cash back at certain places, not always useful, but good when it is. Have other cards that are 2-3% cash back back at restaurants or grocery stores or wherever. Save up hundreds in rewards in no time very easily.
     
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  17. hunterbro

    hunterbro Member

    find the myfico forum....lot of experience there.
     
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