I don’t think most Americans realize most countries don’t have credit scores or use a lot of credit cards.

[UpNext]

So vote to change it.

But that's difficult when you're sleeping with the enemy.

Who are the politicians you can put on a ballot that will change this

 

[Ethnic Vagina Finder]

THAT'S JUST AN INTERNAL CREDIT SCORE.

Nah.. I'll give you an example

When I was in the military i banked with Marine Federal Credit Union. When I tried to get a loan after banking with them for 8 months, they looked at my monthly transactions. They knew I got paid the 1st and 15th like clockwork, but based on my transaction history, I wasn't smart with my money. I was only 19 at the time. So they only gave me a small loan.

It's not about credit. They look at income, and how you manage your money. How much you save. Your spending habits. When someone loans you money, they simply want to make sure you pay them back. Most banks today have erased due diligence by only looking at credit scores, and hedge against defaults by giving charging high interest rates and fees.

Which gave birth to predatory lenders who target people with low credit scores despite having steady income.

And credit reports in general are bogus. At one point, if you had a late book from the library, that would go on your credit report. And these credit bureaus are making billions of dollars selling everyone's information.

 

[tuckgod]

I don't think most non-Americans realize just how little Americans think about them at all.

 

[desjardins]

Yea recently someone was calling cap on a story of foreigners running up debt then going back to their country. But I saw that first hand multiple times
Your country needs a credit system for your credit to get fukked up . I know dudes who left leases, ran up credit cards etc
Recently I met a distant relative at a funeral and found out he has multiple airbnbs in foreign countries, the other people around were like "oh that's nice" but I knew he had a bag because most of the countries he operates in you need to basically buy cash as a foreign investor

 

[Raw Lyrics]

Because the concept of interest is religiously and culturally banned

Now ask yourself why America runs on credit and who the creditors are

 

[Raw Lyrics]

America is the only reason I’ver ever had a credit card. When I would go to Florida, the car rental companies would ask me for so much ID and paperwork because I was using my debit card to rent cars. On top of that, they would make me pay additional charges for “security.”

America really is backwards when it comes to finances. My family in Florida said contactless payment has only become a thing since the pandemic whilst the UK has been doing it for years before that.

Using your debit though? Why would you grant direct access to your liquid? At the very least use a credit card as a security measure and then pay it off the next day. That's what I do.

 

[Raw Lyrics]

But they’re not judged “objectively”. A lender takes a brief look at your score and makes a decision in most cases. That’s not objective. Objective is looking at the whole picture and coming to a conclusion. I’d trust a borrower who has a 650 but also has a history of paying every bill on time every time than a borrower who has a 740 but not much credit history. Lenders would see the 740 and immediately jump to “credit worthiness” comparatively. It’s a game.

Also, you completed disregarded how I defined a relationship, which made complete sense by the way, with a bank in bad faith to attempt to prove your point.

I disagree. When my credit was 580 it was well-deserved because I did a lot of phuck shyt in my early 20s. My FICO score now is 827 and it's also well-deserved. I was always rated fairly.

If you have a 650 and you're always paying everything on time, then the "always" wasn't very long to begin with. In other words, age of credit history matters. Paying everything on time for 2 years, means very little in the grand scheme of things. Paying everything on time for 7 years means much more.

 

[sayyestothis]

But they’re not judged “objectively”. A lender takes a brief look at your score and makes a decision in most cases. That’s not objective. Objective is looking at the whole picture and coming to a conclusion. I’d trust a borrower who has a 650 but also has a history of paying every bill on time every time than a borrower who has a 740 but not much credit history. Lenders would see the 740 and immediately jump to “credit worthiness” comparatively. It’s a game.

Also, you completed disregarded how I defined a relationship, which made complete sense by the way, with a bank in bad faith to attempt to prove your point.

U can't have a 650 and not have been delinquent at some point breh. Lol

 

[Ethnic Vagina Finder]

I disagree. When my credit was 580 it was well-deserved because I did a lot of phuck shyt in my early 20s. My FICO score now is 827 and it's also well-deserved. I was always rated fairly.

If you have a 650 and you're always paying everything on time, then the "always" wasn't very long to begin with. In other words, age of credit history matters. Paying everything on time for 2 years, means very little in the grand scheme of things. Paying everything on time for 7 years means much more.

But what about someone who always paid cash because they were disciplined enough to save, has been consistently employed for years, makes 100k a year and wants to get a loan to buy a house.

The bank will deny them because they have no credit. They are automatically denied before they even get vetted for anything else.

 

[MR. SNIFLES]

Nah.. I'll give you an example

When I was in the military i banked with Marine Federal Credit Union. When I tried to get a loan after banking with them for 8 months, they looked at my monthly transactions. They knew I got paid the 1st and 15th like clockwork, but based on my transaction history, I wasn't smart with my money. I was only 19 at the time. So they only gave me a small loan.

It's not about credit. They look at income, and how you manage your money. How much you save. Your spending habits. When someone loans you money, they simply want to make sure you pay them back. Most banks today have erased due diligence by only looking at credit scores, and hedge against defaults by giving charging high interest rates and fees.

Which gave birth to predatory lenders who target people with low credit scores despite having steady income.

And credit reports in general are bogus. At one point, if you had a late book from the library, that would go on your credit report. And these credit bureaus are making billions of dollars selling everyone's information.

MOST BANKS HAVE AN INTERNAL SCORING MODEL THAT THEY USE ALONG WITH YOUR FICO. THAT'S WHAT THEY USED FOR YOU.

 

[Pure Water]

I have never had a credit card
Never had a car note

Soon as I registered my company I got sent all different types of business cards with crazy limits 10,000 and up

I declined
And I instilled Experian I can monitor things being opened in my name

Ya dig
My only debt is student loan and we can mud wrestle 4 it if they serious about taking it back
My company is non profit so where they gone find the monies?

You’re doing yourself a disservice.

 

[Kasgoinjail]

You’re doing yourself a disservice.

I feel u
4 now I like being debt free
Leaves me uncompromised

 

[Pure Water]

I feel u
4 now I like being debt free
Leaves me uncompromised

You can be debt free with a credit card. I’ve had multiple credit cards for over a decade now, and I’ve never carried a balance. I actually receive “free” money from using my credit card.

Think of the money in your accounts as your limit. If you wouldn’t spend $100 with your debit card, you wouldn’t spend $100 with your credit card.

With that method, I receive over $1000 a year of free non-taxed money from my bank via rewards.

 

[Lieutenant Daniels]

U can't have a 650 and not have been delinquent at some point breh. Lol

Not true. Your utilization could be too high reducing your score. That in conjunction with age of credit history, types of debt. There’s many factors to it.

 

[Ethnic Vagina Finder]

MOST BANKS HAVE AN INTERNAL SCORING MODEL THAT THEY USE ALONG WITH YOUR FICO. THAT'S WHAT THEY USED FOR YOU.

You do realize the FICO score was invented by racist CAC in the Jim Crow era and was used to discriminate against black people right?

Redlining affected black borrowers score and was lower compared to white people with similar income and spending habits.

And the credit reporting agencies are for profit corporations that sell your personal information to any and everybody.