The correct finance take is downmarseyd. I guess Redditors would rather this guy not be able to get money when he needed it.
And who's fault is it that they have horrible credit again? Not the pay day loan people.
In America? So many reason: medical debt, being in the foster system, minor crimes like shoplifting as a teen, being gay (ie your parents make you homeless), disability, a fire, your landlord ups the rent by 50% or more, your employer decides to fire you, ohh so many reasons.
Instead of being judgmental, you may want to show some empathy and compassion for those less fortunate. SPECIALLY if you call yourself a Christian.
The seethe is amazing.
It’s horrid. Places like that, payday loans/advances and rent to own businesses are nothing short of predatory. You only ever see them near poverty stricken areas of town. They just want to make your life worse
But like do you think rich people need loans to buy basic items like furniture?
The shady stores don't stand a chance there because they would laugh and then buy something that costs more than 3 of the shitty rent to buy furniture sets that have probably been repossessed twice before you got it.
So close to getting the point. So close. Just because someone is poor doesn’t mean that it’s ok to target them with your predatory shit, and it certainly doesn’t mean that these businesses even vaguely belong in working class communities.
Completely misread the point and smugposts about it.
That's all the effort you are getting out of me. So many people there with poor financial decisions.
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I'm so happy in the Congo1yr ago #4342641 spent 0 currency on pingsRedditors think credit scores are just magic numbers invented to be mean
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I'll vote for any politician that lowers the credit score of redd*tors
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Instate social scores but lower them anytime someone acts like a b-word.
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Especially the gigacope about how there's a statistically significant number of gay homeless people who would have otherwise had fine credit scores
Like it's super easy to have good credit and if any of the reasons xhe listed are someone's excuse for having bad credit then they were never going to succeed even absent those factors
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You are literally born with good credit. The only way to get bad credit is to borrow money and not pay it back. Everyone with bad credit has borrowed money and not paid it back at some point.
It is a bad idea to give money to people who will not give you the money back. This is not hard.
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That's not how FICO scores work. Good credit requires a compliant track record, not just a lack of problems.
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Your credit score can be calculated if you have any accounts older than 6 months. The floor is pretty much 680-720, which is “good” and the actual number doesn’t really matter past that for most people. For all intents and purposes, you start with good credit.
Individual lenders consider more than just your score, such as what’s on your report (balances and age) and off (income and student/veteran status). But 99% of the time people are complaining about the number.
Which they fricked up themselves.
By borrowing money and not giving it back.
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Slightly disagree. My brother-in-law couldn't get a house at 32 because he never had credit cards or car loans. So i would'nt necessarily say you're born with good credit, but it's also very easy to get a credit card, charge something small on it every couple months, pay it off immediately and get a decent credit score fairly quickly
And just to be clear I'm fine with not being born with a great score. The point of a credit score is to show you borrow responsibily and if you've never shown that they can't gauge you as "good"
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A large bank closed my credit card with a $30 balance. I had seven figures in saving with them, they could have easily collected their pennies. Instead they reported the account as delinquent and tanked my credit for seven years (the maximum amount of time they can report the account before it drops off your credit report). Luckily I’m not poor and could afford to pay for everything without credit.
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Credit scores are stupid, you only get a good one if you have a half dozen credit cards with zero balance on them and no loans or anything you might as well not even take out loans in that position defeating the entire purpose. Its like most things, a bad faith system that works best if you ignore it.
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No you don't lol, good credit is stupid easy to get
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Ive been sitting at like 750-790 for a couple of years and it refuses to budge and it changes a handful points depending if i have $500 in credit card debt out of a $25,000 limit.
Its stupid because it actively punishes you for going into debt which is exactly what the every company wants you to do. The only time your credit improves is when you dont need them at all.
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These banks are crazy though. I went in for an account issue and lady ran the numbers and was all excited about me being able to easily get six figure loans with my credit. Uhhhh how about no Scott
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And those big banks will try to entice you with promo rates that are higher than fixed rates available if you spend two seconds looking elsewhere lmbo
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Just like the numbers on the scale
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Someone should tell them that predatory loans are fine since they are given informed consent
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