/biz/ - Business & Finance

>>12970194
781 FICO as of a month ago. We're both above 750 and thus in very good standing.

>>12970249
> we

How has that helped with your tax filing (assuming you're married)?

>Key factors affecting your FICO® Score*
>Length of time accounts have been established
>Lack of recent installment loan information

>just go into debt goyim, make your magic number go up

>>12970286
Not married, I meant you and me babe. Here's my credit karma report my other ones are a bit lower.

What’s wrong anon?

>>12970311
Based.

>>12970194

>>12970332
>11 years credit
I didn't start building credit until I had a fulltime job out of college. 27 years old and only 4 years credit history. Fuck.

what is the point in getting a credit card with a higher credit limit, seeing as
>using more of the credit lowers your credit score
>provides more opportunities to get in trouble with debt

>>12970353

lower revolving utilization faggot

>>12970311
YOU

>>12970346

I'm only two years older than you

why didn't you get a card when you turned 18?

>>12970374
No excuses, really. Other than having a deadbeat dad who never taught me about that stuff. At 18 I was too busy chasing tail and boozing.

hello frens. please fill me in on this credit score thing. so you guys have to go into dept to get a good credit score so you can get cheap credit and go more into dept? did I process that correct?

>>12970423
you know how China has a "social credit score"?
this is America's version

>>12970423
Debt*
Get a credit card and pay it off in full every month. You won't pay any interest if you keep up with payments. Minimum payments will Jew you with interest. After 6 months or a year or whatever ask for them to raise your limit. Some time after that apply for a second card- I think ideally 3-4 cards is what you want to have. When you have a decent credit history you start to qualify for cards that offer cashback.

>>12970448
and you murifatfrens are not bothered by that?

>>12970463
if we criticize it our credit score goes down

>get a credit card
>everything you buy costs literally 1-5% less money
>magic number goes up

Is everyone really that retarded that they wouldn't use a credit card for buying everything?

>>12970466
checked and kek'd. i feel with you frens

>>12970423
No

>>12970469
>>everything you buy costs literally 1-5% less money
how so

>>12970477
oh ok. please fill me in what (((this))) is then fren

>>12970484
You get points that can be used to cover some of your expenses so you don't have to pay back the full balance on your card.

My score is a ridiculous 820. How? Well, i've had a credit card since i turned 18 (35 now). Always used it to pay for everything because the card gives cash back rewards, and i knew it was good for building credit history. Alwats paid it off every month. Essentially used it like a debit card. Credit limit is crazy high because bank kept bumping it up over the years. I use less than 10% of it per month. Only loan history is student loan. Have lengthy history with utilities, never missed payments.

That's it. I'm not at all wealthy. Lower middle class, single.

>>12970423
>so you guys have to go into dept to get a good credit score so you can get cheap credit and go more into dept?

No. No debt needed.

>>12970508
>>12970469

and one more thing frens. is this cash back thing not just an elaborate trickery to track you buying habits and do more targeted advertisement?

>>12970516
but you need to spent money right? sorry i dont understand this system at all we dont have something like this in naziland

>>12970520
Probably is, but they really make money off the vendors who pay for the txn fees.

>>12970520
I've never received any advertising as a result of my credit cards as far as i am aware. As for /x/ tier tracking, unless you're paying cash for everything, that's just going to happen regardless. You have s bank account and s job, pay taxes, (((they))) have plenty of data on (you).

>>12970528
>you need to spent money right?

Yes. On groceries and gas and things i require to live.

>>12970543
i do pay everything cash yes and so does every kraut as far as I know. but (((they))) are realy doing a thing right now on us - i have a business and everytime I buy change I have to pay 0.50 cents per roll as of this year. thats like 300€ a month per store. so i guess we wont have cash for much longer

>>12970550
is gas and groceries enough to raise your credit score?

>>12970469
Based. It's what I do. The idea of using credit cards not like my debit card sounds awful.

>>12970567
>gas and groceries enough to raise your credit score?

Sure. I don't think it's about amounts as much as it is about consistency over a period of time. Pay off balance, never pay late.

>>12970567
If you use your credit card, pay it off fully before the due date, even if you aren't going into debt, the basic usage and length of time will allow you to get a high credit score. You don't need to actually be paying off interest to get a high credit score. If by chance you DO have a big loan but pay it off fully it is more proof that you are a dependable debtor and thus your credit score will increase from that, but you do not need to purposefully go and get a loan to have a high credit score.

>>12970528
A credit card, or credit in general, is essentially a loan that a credit company gives you on a monthly basis.

If you don't use any of that money from that loan, you aren't technically in debt.
If you spend $5 on gas using your credit card, you are technically $5 in debt.

What it comes down to is if you can pay whatever you use of that loan off at the end of the month. The more consistently and punctually you pay off that loan, the higher your credit score goes.
It doesn't matter what you spend it on, as long as you pay it off you're good.

>>12970567
>buying change
Wtf is this? The bank does this for free in burgerland. Also Germans actually dont use credit cards and pay cash for everything?

>>12970610
madness isnt it. it was free untill this year. (((they))) want to get rid of our cash bad and instead of taking the blame businesses like mine now will get the blame for not accepting cash anymore because 3000 - 4000€ a year just so you can offer cash transaction is rediculous. I will still do it tho untill a roll cost 10€ which will happen i see it coming.

>>12970603
well thats ensuring at least. so you could just spent 5$ and pay them and your credit score would still be 800 or whatever the best is?

>>12970600
but spent more = better? thats (((ish))) as fuck

>credit score is breddy good (750ish) but won't go higher because my utilization is high because JPM gave me a shit credit limit ($2k) even tho I've been banking with them for 10+ years
I just want to be labeled a good goyim bros why is it so hard?

>>12970567
no, the banks make money by charging small ($0.02) fees to the stores you use them). Then they make money charging high interest to bad goyim who can't afford to pay back the bills. The cash back is just to entire you to use 1 card over another.

I couldn't imagine using cash for everything desu. If not a credit card, I'd use a debt card (debt cards automatically withdraw from your bank account, no loan required) so I don't need to fiddle with change.

Also that practice of charging you for change is top Jew anon, any bank in the States will do that for me for free.

(((good goy points)))

>>12970636
Spent more IF you pay it back is better. Time also helps. I have a card I barely touched. It is probably like 8 years old. I have almost a 800 on it. Reliability and longevity are how you get a higher score. So yeah, if you spend more but also pay it back, it is more proof you are reliable. But if use it for groceries and immediately pay it back so no interest has occurred, effectively making it similar to like writing a check, then you are still benefiting without actually being in debt. Simple. It can either help you or hurt you.

>>12970668
>>12970636
It can either help or hurt depending on if you want to fall for the jew tricks

>>12970636
>spend more == better
No, spending more does not boost your credit score. The credit score is used to determine how likely you are to pay back a new loan, so spending a lot and carrying a high balance will lower your credit score. Basically imagine things that mean you can pay back loans those things will raise your credit score. Long history of paying back loans, haven't got any new loans recently, aren't close to current loan limits, etc.

>>12970194
That's a Credit Karma score though, your true FICO score is always lower and that's what (((they))) care about.

>>12970665
Unfortunately it's the game you've got to play.

>>12970194
fuarked mine up recently cuz the pump took longer than expected, should b back above 740 soon

I have a 760 and I was able to get a $10,000 loan from wells fargo in like less than an hour online, by the time I pay it off (I will probably pay off half of it using the money from the loan itself lol) maybe my credit will be 800.

Not sure what that would do for me in the practical sense, though. If I was able to get a $10,000 loan in 10 minutes I could probably get a much bigger one if I wanted, too. It's a 60 month loan but I think I'm going to try and pay it off in 6-12 to avoid the bulk of the interest.

>>12970698
Why did you get a loan if you don't need the money anon?

I guess I had a $90 balance at the doctors that I forgot about so they sent a collection agency at me and my score dropped 30 points. Thanks Obama.

>>12970698
>>I'm going to try and pay it off in 6-12 to avoid the bulk of the interest.

>he doesn't know about the early-pay-off penalty fee
you can't out jew the jew anon

Not even that good. I was in the 820s.

Amex gives me unlimited. They claim it's an algorithm that determines my limit. I usually spend $5000 a month but it's never given me issues even with a single $15,000 dollar purchase.

Bank of America thinks I should thank them because they upped my $5500 limit to $11,000. Fuck those guys, i hold on to the card but wont give them business.

>>12970719
Your state allows that and has no made it an illegal practice? What shitty state or country are you in?

>>12970726
the fuck do you do for a living that you can spend 5k a month and just put 15k on a credit card

>>12970744
step up goy

>>12970194
Do the needful, OP.

>>12970744
Firefighter/Paramedic, work as an instructor on the side and do contract work as I have additional credentials that are highly valuable.

i dont know frens this smells like (((some))) trickery to me but you frens arent retarded so if no one here says it is i guess it will be fine

>>12970786
The redpill of credit cards is they take advantage of dumb people who can't manage their money and lock them into a cycle of debt and high interest. It's very evil what they do to these people and it's important that these dumb people stay far away from credit cards and all forms of debt slavery but if your know anything about finances credit cards are good and benifical to you.

WOW 800?? You must not be poor and not drowning in debt. Congratulation for not being a fucking retard! Did you wipe your ass after you shit too or did you just leave a shit stain all over your underwear? Congratulations for feeding yourself and not being homeless you must be very proud of yourself. Lmao at poorfags who think having 800 good boy points is impressive. I'm not drowning in debt or have to live off a 5 figure poverty income either, so I don't give a fuck about my good boy score even though its 800+ because I only use 1% of my credit card limit as I'm not another moron who spends money I don't have.

831

>>12970786
(((Credit))) is debt. If you have money and aren't interested in leveraging interest, then you'll never need a credit card anyway.

I'm 27 and don't have a credit card. My credit score is irrelevant.

>>12970705
I did need the money (sorta). I wanted to get in on BAT at $0.11-but because of how Groinbase works I was only able to get in gradually over the $.12-.16 period, in part because I wasn't sure if I wanted to take out a loan (I put in $4.5k before the loan, I'm up to $8.5k now after); I was low on cash in part because I've been pretty loose with my money the past couple years-I was secretly paying for my dad to go to the chiropractor twice a week after he had neck surgery for quite some time, for one example.

I know it's a big risk but if BAT zeroes out it will affect me much less than if it goes to a dollar or more; I work retail and take home about $500 a week, If I completely lose my savings I will simply pay down the loan with the loan in part and then recover totally in short order (I'm moving back in with my parents in a few months so either no or much reduced rent and other bills). If Brave and BAT are a success I will be in a good position to temporarily quit my job and focus on educating myself further.

I've been studying art and drawing for a few years and want more time to push my art further and also potentially get into web dev (I know some basics already) and more serious programming like Python

>>12970719
>>12970733
Wells Fargo doesn't engage in that practice for personal loans, I made damn sure to check in advance and is part of the reason I ultimately settled on taking the loan. I will still pay some interest but probably not much. I used to write off having good credit as bullshit and to some extent I still feel that way, but I can no longer deny that it has its utility.

>>12970952
I hope you never need an emergency loan

>>12971047
>emergency loan
Good goy.

>>12970194
Your good goy points less than 800.
You're going to make it anon.

>>12970194
I'm going to pay my tuition soon, and rather than use my debit card, I want to use a credit card and get whatever rewards I can, also build my credit.

What credit card should I get with my 768 FICO 9 Score?

>>12971006

It fucking pays off if you are smart. You can share some of the sorrow the banks feed off of from poor saps with shitty credit and an endless life of debt. Low to no interest, perks, discounts.

I flew to a vineyard outside of Cape Town for a little R&R. On the way over, airport lounges, free flight. Get there and my card has been compromised. Amex sent a new one that arrived three days later with a big apology. I bitched and I got some free good goy points I used to upgrade on Emirates so business class on the way home.

I want to thank the goys that live off credit cards and pay 20+% interest. That was a nice free vacation.

>>12970346
I’m 27 anon. Got a credit card at 21 after college. I wagie who lives at home, paid of 45k of student loans. Don’t miss payments. Sure totaling 2 cars that paid off loans helped but it’s easy.

>>12970469
>everything you buy costs literally 1-5% less money
Based

>magic number goes up
>Taking loans
But, sadly not white

Guys I have 560

Am I fuckered?

I’ve got 666 and never bothered picking it up since I like it

>>12970194
>>12970300
>>12970308
>>12970311
>>12970332
>>12970726
Bow down to me.

>>12971208
Patrician AF.

>>12970763
Kindly revert?