Buying a house
- Thread starter Meta4iCAL
- Start date
recently hit the 720 mark myself, after years of fucking creditors off & not giving a fuck.
growing up is mandatory, once you have kids.
it took a few years, but I realized I do not wanna be paying someone elses mortgage forever while renting, when I could be getting paid doing what they are doing.
Save
invest
????
profit.
growing up is mandatory, once you have kids.
it took a few years, but I realized I do not wanna be paying someone elses mortgage forever while renting, when I could be getting paid doing what they are doing.
Save
invest
????
profit.
I would suggest for anybody with any sort of question involving credit (rebuilding credit, loans, establishing credit, etc.) to go to myfico.com and sign up for the forums there. Lots of your questions will have already been answered there, or you can ask and there's a lot of nice people to help you. The information you can get on there is priceless because credit plays a huge role in your life.
Credit is an amazing thing if you use it wisely. You can't think of a credit card as a way to purchase things you can't afford. Anything you buy with it you need to pay off within a couple of months or else it will hurt your credit. Just use your credit card for purchases you would have otherwise used cash or your debit card to pay for. Then use the cash you would have spent on the purchase to pay off your credit card. If you pay that shit off soon enough you won't accrue any interest on the balance so it won't even cost you extra. You want it to report before you pay it off though so the companies that do the credit scores see that you are using the card and paying it off.
And as Shea said, keep the balance under 20% of the max amount of credit you are given. I've heard 30% was the number, but 20% will help you more anyway so I'll just go with 20%.
Credit is an amazing thing if you use it wisely. You can't think of a credit card as a way to purchase things you can't afford. Anything you buy with it you need to pay off within a couple of months or else it will hurt your credit. Just use your credit card for purchases you would have otherwise used cash or your debit card to pay for. Then use the cash you would have spent on the purchase to pay off your credit card. If you pay that shit off soon enough you won't accrue any interest on the balance so it won't even cost you extra. You want it to report before you pay it off though so the companies that do the credit scores see that you are using the card and paying it off.
And as Shea said, keep the balance under 20% of the max amount of credit you are given. I've heard 30% was the number, but 20% will help you more anyway so I'll just go with 20%.
30% is the number, but for me personally 20% is much more manageable & works better for my budget.
Props:
DJ Coma and DJ Coma
I had 660 when I closed on the house, owed some money on some credit cards, and a car loan. I paid that car off and paid off a credit card. Then I financed another car and the dealer told me I had a 701.
2 years ago I had no credit at all, I got my uncle to co-sign me on that first car loan, I had like 16 percent interest, but I needed that car so I got it. that loan really helped me get the credit to get the mortgage
2 years ago I had no credit at all, I got my uncle to co-sign me on that first car loan, I had like 16 percent interest, but I needed that car so I got it. that loan really helped me get the credit to get the mortgage