Credit Score Thread
- Thread starter Solariss
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Noodleface
A Mod Real Quick
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Good information to those who responded to me. Starting to work on my credit again. It helps to have a very good job now where I am not scraping by (for the most part).
If you have the cash, usually $300+, secured cards work pretty well. They report the same on your credit. Downside is they usually have an annual fee. I've had lots of people get counter-offered for a partially secured card. If you have been with a bank for a while, sometimes they can request a relationship review with the application. It might not get you a high limit, but if your trouble is getting approved it will start you out with a low limit card and no annual fee.
If someone checks your credit you most likely wont take a hit. It's also noted when someone makes a credit inquiry opposed to applying credit on the report.
Falstaff
Ahn'Qiraj Raider
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I just got my credit reports back after applying for my mortgage.
I had negative marks for: Not enough revolving credit, too much revolving credit, and too many recent credit inquiries. my score was still 780 but it's stupid to me
credit reports? you can't explain that.
I had negative marks for: Not enough revolving credit, too much revolving credit, and too many recent credit inquiries. my score was still 780 but it's stupid to me
credit reports? you can't explain that.
Big Phoenix
Pronouns: zie/zhem/zer
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The alternative is much worse...
Switzerland doesn't have any credit bureaus, which means that everyone is charged the same rate - in excess of 10%. If there's no way to identify low-risk (or high-risk) borrowers, that's very costly for those who are low risk.
Recently, private companies have started accumulating data and trying to make risk estimates. The problem is that there is no disclosure requirement at all, so you cannot get anything like a credit score or credit report. In one case that made the news, someone learned that he was mistakenly associated with someone else who had the same name... so he ended up being denied shit like leases because landlords thought he had a debt problem, when in fact he had plenty of savings and no debt at all. Based on the report, there was no way for him to even correct that - he contacted the firm keeping the data and they basically told him to get lost. Even if he could correct it, there's really no way of knowing how many firms there are that do something similar and how many of them may have wrong information.
Having central credit bureaus that are required to disclose everything they have on file for you is an awesome setup. Getting a free credit report (from each bureau) once a year is an added bonus.
Captain554
Trakanon Raider
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Soygen
The Dirty Dozen For the Price of One
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Who cares if they are making money off it? They are providing a service that allows you, if you have good credit, to take advantage of low(and often times 0%) interest rate loans. Soriak brings up a good point about not being able to assess risk without some sort of auditing service like the credit bureaus, as well. I'd rather get to take advantage of having good credit than all be in the same pool of borrowers. Now, if you have shitty credit, I could imagine not liking the bureaus very much. Nobody likes a tattle-tale.
Big Phoenix
Pronouns: zie/zhem/zer
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No shitty credit here, mines 720 or so atm. Issue I have is that they use your own personal information for monetary gain and charge you access to it(credit report isnt a credit score). What the .gov should of done is also required them to give you your score when you got your free report.