Finally a good credit score

[WRESTLINGFAN]

This time last year my score was in the 550's. Over the past year I paid down a ton of debt and today I got my credit score and its a 734. I know I am probably going to get tons of offers for new credit cards, but I am going to throw them out. I am looking to apply for a mortgage so I want to keep my debt down as much as I can.

There are shows like Suze Orman and Dave Ramsey which are helpful for anyone with lousy credit. Ive watched them and they are very helpful. I defintitely recommend them

[pittphantoms]

Congrats man - thats tough to do.

[WRESTLINGFAN]

Congrats man - thats tough to do.

Thanks budday

I admit it was tough, Had to cut the discretionary spending a bit, but little by little I was able to knock down the debt. Those store credit cards ie Best Buy, Circuit City etc are the worst with interest rates at 30%. It was such a relief taking the ole scissors and cutting them up

[Jughead]

This time last year my score was in the 550's. Over the past year I paid down a ton of debt and today I got my credit score and its a 734. I know I am probably going to get tons of offers for new credit cards, but I am going to throw them out. I am looking to apply for a mortgage so I want to keep my debt down as much as I can.

There are shows like Suze Orman and Dave Ramsey which are helpful for anyone with lousy credit. Ive watched them and they are very helpful. I defintitely recommend them

I work with this everyday...How about a car??:tongue:...Congrats to ya thats hard to do and you should be proud...Its so important to run your credit once in a while ....Mistakes cost consumers millions every day......This tier system banks use now is so unfair...I just found a bill on mine I had paid over 3 months ago..It is such a bitch to get things off your report..Lucky for me I can run mine here at work and keep an eye on it...Congrats again:thumbup:

[Lady Resin]

Congrats!! When hubby and I refinanced we had to get ours done. We were Nervous Nelly's. I was 860 and hubby 830. A woman knows how to use those credit cards. :wink:

[PhilDeez]

I work with this everyday...How about a car??:tongue:...Congrats to ya thats hard to do and you should be proud...Its so important to run your credit once in a while ....Mistakes cost consumers millions every day......This tier system banks use now is so unfair...I just found a bill on mine I had paid over 3 months ago..It is such a bitch to get things off your report..Lucky for me I can run mine here at work and keep an eye on it...Congrats again:thumbup:

Since you work in the car industry, I think at a dealer if my memory is correct from previous posts - what is considered good credit to a car dealer? For instance, when the great 0% offers, or very low rates or offered, they are always followed by, "for well qualified buyers", what constitutes well qualified?

[Team_Ramrod]

That's awesome bro, credit is so hard to maintain and it's even harder to restore.

Getting it back up there so quickly is great. Way to go!

[Jughead]

Since you work in the car industry, I think at a dealer if my memory is correct from previous posts - what is considered good credit to a car dealer? For instance, when the great 0% offers, or very low rates or offered, they are always followed by, "for well qualified buyers", what constitutes well qualified?

Usually With Gmac tier A is above They take a lot in to account not just the score..I don't handle that area but Gmac has there own scoring system based on debt to income.. and score, and equity in trade, and money down...As a rule of thumb above 750 will get ya any special rate...:smile:

[WRESTLINGFAN]

Restoring credit takes a lot of work and it can be time consuming but doing things like brown bagging it to work and stuff like that saves money so you can pay off debt. I think they should teach a course about credit to High School seniors because alot of people go into massive amounts of debt once they graduate. Also parents should definitely play a role as well.

[Team_Ramrod]

I wouldn't support a movement to get credit management courses into the schooling system.

I had to learn by screwing up, I'll be damned if I try to help those emo fucks from making the same mistakes.

[grlNIN]

I wouldn't support a movement to get credit management courses into the schooling system.

I had to learn by screwing up, I'll be damned if I try to help those emo fucks from making the same mistakes.

Walking to class today i saw a flier about a Bankruptcy class my school is gonna offer.

First thought, how do they afford it?

[SatCam]

Walking to class today i saw a flier about a Bankruptcy class my school is gonna offer.

First thought, how do they afford it?

that's the beauty of bankruptcy! you dont have to afford anything

[Justice4all]

This time last year my score was in the 550's. Over the past year I paid down a ton of debt and today I got my credit score and its a 734. I know I am probably going to get tons of offers for new credit cards, but I am going to throw them out. I am looking to apply for a mortgage so I want to keep my debt down as much as I can.



First off way to go! That is no easy thing you did. I know plenty of clients who never followed any advice and were in the same situation a year later.

Secondly, about the section I highlighted....that is absolutely very wise actions on your part.
When you go for a mortgage the best rates and programs are for people who have 720+ credit scores. (unless you go full doc...then it is 700+)

One of the things banks and brokers look for is called DTI (Debt to Income) they take your total debt (credit cards, car loans/leases, student loans PLUS the mortgage you are applying for) and add it all up. If the total is over 40-45% (in most cases) of your monthly income, before taxes, you might get turned down. (of course there are some exceptions and programs that keep that happening)

So keeping your monthly debt at a low is a good thing. You are off to a great start. Good luck!

[ralphbxny]

This time last year my score was in the 550's. Over the past year I paid down a ton of debt and today I got my credit score and its a 734. I know I am probably going to get tons of offers for new credit cards, but I am going to throw them out. I am looking to apply for a mortgage so I want to keep my debt down as much as I can.

There are shows like Suze Orman and Dave Ramsey which are helpful for anyone with lousy credit. Ive watched them and they are very helpful. I defintitely recommend them

I do need a co-signer! :help:

[Kris10]

Congrats!!! I'm so happy for you. Credit is sooo hard to manage and their are so many ways to fuck it up. Your doing a credit job though and keep up the good work. If you ever need some advice, I highly recommend creditboards.com there are great people on there who know what they are talking about.

[JerseySean]

This time last year my score was in the 550's. Over the past year I paid down a ton of debt and today I got my credit score and its a 734. I know I am probably going to get tons of offers for new credit cards, but I am going to throw them out. I am looking to apply for a mortgage so I want to keep my debt down as much as I can.

There are shows like Suze Orman and Dave Ramsey which are helpful for anyone with lousy credit. Ive watched them and they are very helpful. I defintitely recommend them

ACCEPT THE CREDIT CARDS. They have changed the way that credit scores are affected. Part of that is a used credit to available credit ratio. Accept them, then cut them up and let them sit. It will bump up your credit score. Another thing you can do is apply for a personal loan from your bank. Go and take out a $5000 loan from your bank and then pay it within 30 days. This will bump up your score signigficantly. Congrats bro

[Dude!]

is there a web site where you can get your credit score without paying to see it

[JerseySean]

is there a web site where you can get your credit score without paying to see it

No, but pay the 12.95 dude. Its worth it.

[damainer]

Stop trying to brag. What other reason would you possibly have for telling everyone that.

Pathetic starts with P
Coolness starts wit me

[WRESTLINGFAN]

Stop trying to brag. What other reason would you possibly have for telling everyone that.

Pathetic starts with P
Coolness starts wit me

Not trying to brag at all. I took responsibility for my bad credit and paid alot to get where it is today. If anything Im trying to help. When applying for a personal loan, car loan, credit card, mortgage you are judged by your credit score. If your score is low, sure you can still get a mortgage but get ready to pay through the roof. Mortfage rates for lousy credit is about 10%. A 300k mortgage will cost close to 3000 a month. and about 85% of that payment is interest

[Tenbatsuzen]

Not trying to brag at all. I took responsibility for my bad credit and paid alot to get where it is today. If anything Im trying to help. When applying for a personal loan, car loan, credit card, mortgage you are judged by your credit score. If your score is low, sure you can still get a mortgage but get ready to pay through the roof. Mortfage rates for lousy credit is about 10%. A 300k mortgage will cost close to 3000 a month. and about 85% of that payment is interest

Don't worry about him, he's a newbie either trying to be cool and failing or some board character.

Nice job. I hope to join you in the debt free club soon.

[Alice S. Fuzzybutt]

http://i89.photobucket.com/albums/k203/petrina_02/gold_star_2.jpg


CONGRATULATIONS!!!!

Credit debt can be like dancing with the devil. I have a friend who's struggled with it over the years. Kudos to you for taking the bull by the horns and dealing with it head on. A lot of people aren't as responsible as you.




I was going to go off on a rant about the sub-prime mortgage disaster but I didn't want to take away from Wrestlingfan's accomplishment.

[WRESTLINGFAN]

http://i89.photobucket.com/albums/k203/petrina_02/gold_star_2.jpg


CONGRATULATIONS!!!!

Credit debt can be like dancing with the devil. I have a friend who's struggled with it over the years. Kudos to you for taking the bull by the horns and dealing with it head on. A lot of people aren't as responsible as you.




I was going to go off on a rant about the sub-prime mortgage disaster but I didn't want to take away from Wrestlingfan's accomplishment.




Thank you.

As far as the subprime disaster it looks like it wont be going anywhere anytime soon. Theres something like 800 billion in outstanding subprime debt

[Tenbatsuzen]

Thank you.

As far as the subprime disaster it looks like it wont be going anywhere anytime soon. Theres something like 800 billion in outstanding subprime debt

http://republicans.energycommerce.house.gov/Media/Image/MrBurns.jpg

Excellent.