huncowboy
Well-known member
- Joined
- Jun 11, 2003
- Posts
- 616
Dangerkitty said:Have you ever heard of the term "manual underwriting."
Dangerkitty said:If you have ever had to pay rent then you have a credit history. If you have ever paid untilities you have a credit history.
So what if you haven't paid utilities or rent. It was the case with me since I am from abroad. Not as rare as you would think!
Dangerkitty said:Furthermore people in the business of loaning money are not going to turn people away just because they dont have a long estblished credit history. They make money by lending money for Pete's sake. Why woud they turn perfectly good clients away just becuase they dont have 10 different credit cards and 2 car payments?
Yes, and those will charge you 20% interest. Fact is if you have no history, not even a rent, you will be treated as a high credit risk.
Dangerkitty said:However, if you were trying to buy a new car the best favor in the world they could have done for you was refuse financing. A new car is the biggest rip off in the world but that is another story.
Tell this to my neighbor who paid about $2000 for his a/c then 6 months later he was quoted $3000 for his transmission at which point he decided to lease a new car. His 6-7 years old Golf was sold for $1000 as junk. It had a load of miles like 200k but still the car was worth about $5000. He lost on that deal.
One advantage of a new car is that you have a reliable transportation to get to work. If it breaks, you don't need to fork over a sum that may be worth as much as you would pay for a new one in a year. Not to say that there isn't such a thing as a reliable used car, but the risk is always there. Now if you have enough money in the bank, I agree, buying a 2-3 years old car is not a bad deal. However at the moment I like to know how much my car will cost me exactly. Unfortunately surprise payments would stretch my capabilities. You can buy a very cheap, yet still new car if money is tight. It is all about budgeting. Some people can some can’t.
Dangerkitty said:I agree 100%. So why even take the chance. Why not just pay in cash or use a debit card?.
There is not much risk involved if you have some common sense and self-restraint. This is my whole point. Credit helped me out in many ways. I was able to turn it to a useful tool.
Dangerkitty said:Could you please repeat this sentence in English that I can understand?
I am trying my best with English. Sure I will repeat it if it was not proper English. You have made comments about others in this thread. Here is one:
Dangerkitty said:Tell me Crizz why are you so eager to build credit? To borrow more money and go deeper into debt?
You have based this comment on what? After a comment like this, you will not get much respect from the other party. You have set the tone and you keep being arrogant! Hence I made a comment about you missing a payment. I knew it was going to blow up.
Dangerkitty said:Why dont you go back and reread that link you posted? A higher line of credit does NOT help you credit score. It hurts it. Doesn't matter if you have debt on it or not.?
Why don't you go back instead, and read my comment and the site again. It says "beyond a point" or something similar!!! Large unsecured credit line is not good since the borrower could use it anytime thus significantly changing his rating in a moment. However, a very small line is just as bad.
Dangerkitty said:Once again could you please type in English that most of us could understand? I guess you are trying to make some sort of correlation with my flight time and the argument at hand but I am not sure.
It is called sarcasm. But before you start beating my English, and I agree my English is still a work in progress, how about you check your spelling once in the blue... that way I could actually learn something from your posts. <--- more sarcasm...
Dangerkitty said:Maybe you should have a few more cocktails this time before you post.
I’ll do that. But would that not be bad for my judgment? Because I could just get drunk and by mistake apply for 10 credit cards and then I will have to seek your advice how to clean up the mess... on a second thought... I think I will be alright...
Since you have given me plenty, here is one advice from me:
If you getting into an argument on a forum like this, chances are someone will reply with a post that you'll disagree with. If you can’t keep your cool or don’t have a little sense of humor, or sarcasm then posting on the net is not for you.