An 800 Credit Score Has More Purchase Power Than $100,000

[You Win Perfect]

Take financial advice from the shaderoom...

these dudes read some shyt they saw on twitter and then come here like they are experts acting like they knew it all along and decided to randomly share it with the coli. shyt is just disgusting at this point.

 

[The Fade]

shade room not even black owned anymore why yall giving them free traffic

 

[OfTheCross]

I wouldn’t know I’ve never had neither 100K nor an 800 credit score

No it fukking doesn't.

 

[Sterling Archer]

I have both and this is some stupid shyt.

This is dumb as fukk. 800 credit score with a 25k year income isn’t getting you a $100k mortgage let alone a loan with no collateral.

Edit: I used 25k, because a credit score by itself doesn’t mean a damn thing. Banks are still gonna look to see if you can realistically pay the loan back.

And that’s the thread ladies. You can close it down.

 

[IsThatBrothaMouzone?]

High credit scores just mean that you can borrow money at a lower rate.

Having $100k in cash versus being able to borrow $100k at a low interest rate? Cash wins.

Generally speaking.... people with more cash have higher credit scores since they can reliably pay their debts off consistently and then use that good credit history and high income to get approved for higher amounts of credit. This lowers your overall utilization which then spurs on a higher score....rinse and repeat.

 

[AAKing23]

High credit scores just mean that you can borrow money at a lower rate.

Having $100k in cash versus being able to borrow $100k at a low interest rate? Cash wins.

Generally speaking.... people with more cash have higher credit scores since they can reliably pay their debts off consistently and then use that good credit history and high income to get approved for higher amounts of credit. This lowers your overall utilization which then spurs on a higher score....rinse and repeat.

/thread

 

[playplayaj]

This is dumb as fukk. 800 credit score with a 25k year income isn’t getting you a $100k mortgage let alone a loan with no collateral.

Edit: I used 25k, because a credit score by itself doesn’t mean a damn thing. Banks are still gonna look to see if you can realistically pay the loan back.

I was making 23k when I bought my first house. Total price was 107k

 

[Bigb41513]

I got that 8 and I ain’t rolling. I also stay in the bay where everything is expensive.

 

[Hersh]

not true but having credit pretty good.

 

[Easy-E]

One of these days we are gonna have a conversation about shaderoom...

 

[jerzboy]

Ehhhhh, hate the shade room and nonsense like this... blind leading the blind

 

[Calmye]

Except you're not actually purchasing it

 

[FabTrey]

Biggest deception in this society is the credit rating and purchasing power cuz it all leads to accumulating debts brehs.

I use credit cards to make money. I get 3% back. But most nikkas i know use CC to accumulate debts. Use their hard earned high credit rating to acquire the biggest purchase they dont own until 30 years later.

I have high 790 rating and it's absolutely no use in my life because i dont plan to get into a debt acquiring business. I'm all about living a life without a debt because i know how shytty is the life with a debt.

 

[macadomusic]

I remember when I use to sell cars, the motto was "cash is trash" because the more you get someone to finance the more ways you can fucc em. So from a business side credit is