How long do you need to have credit for it to really matter?

2015-01-30 06:15:16

#1

_j5689_: Dreads & Bergers; +364|6718|Riva, MD

Not really debate but more serious talk

I recently hit 700 according to my monthly updates from TransUnion that I get from CapitalOne as a benefit of their credit cards. I did some research and apparently this is at threshold for what is considered "good" credit but I know from applying for several better credit cards already that none of it really matters if you don't have a long enough history to back up the score. I've only had credit since a year ago when my dad cosigned the loan for my new car which is what finally gave me credit.

I'm wondering how long you have to have had credit before you can get your own auto loan or mortgage. I'm considering maybe in a few years buying a cheap townhouse in my city(cheap being around 110-120ish last I looked) and I'd like to have a better grip on how it all works.

2015-01-30 09:03:28

#2

CC-Marley: Member; +407|6830

Creditors like a long consistent credit history. Best thing to do is talk to your bank about their lending programs.

2015-01-30 12:06:41

#3

KEN-JENNINGS: I am all that is MOD!; +2,973|6633|949

credit factors -
how long is your credit history
what is your DTI (debt to income)
How much of your available credit are you using
what is your payment history for on time payments
what kind of outstanding debt do you currently own

2015-01-30 23:21:37

#4

DrunkFace: Germans did 911; +427|6683|Disaster Free Zone

KEN-JENNINGS wrote:
credit factors -
how long is your credit history
what is your DTI (debt to income)
How much of your available credit are you using
what is your payment history for on time payments
what kind of outstanding debt do you currently own

What your debt it guaranteed with.

2015-01-31 00:11:50

#5

SuperJail Warden: Gone Forever; +635|3721

How much gold you own

2015-01-31 02:21:19

#6

globefish23: sophisticated slacker; +334|6325|Graz, Austria

Also, someone in your local yacht club might have good contacts to a bank.
Ask around next time when you're in the lounge, sipping brandy and puffing cigars!

2015-01-31 05:40:21

#7

_j5689_: Dreads & Bergers; +364|6718|Riva, MD

globefish23 wrote:
Also, someone in your local yacht club might have good contacts to a bank.
Ask around next time when you're in the lounge, sipping brandy and puffing cigars!

Damn, my brother used to work at one of the biggest Yacht Clubs in Annapolis lol

Last edited by _j5689_ (2015-01-31 05:40:59)

2015-01-31 15:51:00

#8

SuperJail Warden: Gone Forever; +635|3721

You need to get hooked up with Wu-Tang financial. Diversify your bonds

2015-04-21 15:20:47

#9

SuperJail Warden: Gone Forever; +635|3721

New York City Just Outlawed Running Credit Checks on Job Applicants

Gone are the days when a job applicant could make a good first impression with a smart suit and firm handshake. Now your first impression might get boiled down to three digits on a botched credit rap sheet, leading a boss to reject you, sight unseen.

But the city where first impressions count for everything is about to make the job market a little less judgmental. New York’s City Council just voted overwhelmingly to outlaw the common practice of letting employers prejudge people based on their credit history—passing an unprecedented ban against employers use of workers’ credit background data.

The legislation, which passed last Thursday following an extensive grassroots campaign by local and national labor and community groups, restricts a boss, prospective employer or agency from “us[ing] an individual’s consumer credit history in making employment decisions.”

http://www.thenation.com/blog/204713/ne … applicants

I guess that will help get people back to work but as someone with great credit score, it sucks that I'm going to lose something in a job search. Especially since I've worked hard to get that leg up.

2015-04-26 10:11:05

#10

_j5689_: Dreads & Bergers; +364|6718|Riva, MD

Yeah, I'd hate to lose that, it's one of the few things I have going for me without a degree

2015-04-26 14:34:00

#11

Steve-0: Karma limited. Contact Admin to Be Promoted.; +214|3961|SL,UT

_j5689_ wrote:
Yeah, I'd hate to lose that, it's one of the few things I have going for me without a degree

i'm five decades old w/o a degree. sure i've got a credit score, but i've never been late with a house payment.

this is a PSA: kids, get that paper. it's a wash paying for school and what the degree brings, but i guarantee you will see titties when you go to school. don't make a big deal about seeing them, and you'll get laid. don't make a big deal about getting laid, and you'll get blown. don't make a big deal out of getting blown and getting an education, and you'll get approved for buying a house.

the american dream.

if you aren't an american, convert your currency into dollars, go to the red-light district, get blown and buy a house.

bitches love houses, and every bitch in the world will house you motherfuckers reading this post.

2015-04-28 05:19:39

#12

_j5689_: Dreads & Bergers; +364|6718|Riva, MD

I can't tell whether you meant dollars or a degree when you said paper

2015-05-02 23:55:21

#13

13rin: Member; +977|6481

7 years?

I stood in line for four hours. They better give me a Wal-Mart gift card, or something. - Rodney Booker, Job Fair attendee.

BF2S Forums How long do you need to have credit for it to really matter?

KEN-JENNINGS wrote:

globefish23 wrote:

_j5689_ wrote:

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