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  • talesuntangled.files.wordpress.comView Full Size


    Read this and you'll find out why the FICO score is a scam. Don't worry about your credit score. Pay cash and live below your means. 

    When it comes to buying a house, rent and save your money. Pay your rent early or on time. Find a mortgage lender that uses manual underwriting. Get a 15-year, fixed rate and put down as much as you can.
  • cdnet.myxer.comView Full Size


    First, get a million dollars.
  • I'm having a hard time feeling sorry for the woman with two mortgages and kids in private school.
  • Hey, ladies, Ric Romero has some hot tips to help you bounce back from bankruptcy:
    daphnecaruanagalizia.comView Full Size
  • dustman81: [talesuntangled.files.wordpress.com image 310x400]

    Read this and you'll find out why the FICO score is a scam. Don't worry about your credit score. Pay cash and live below your means. 

    When it comes to buying a house, rent and save your money. Pay your rent early or on time. Find a mortgage lender that uses manual underwriting. Get a 15-year, fixed rate and put down as much as you can.


    You shouldn't need a book/cult to realize that you don't need credit if you pay cash for everything.
  • Fark Rye For Many Whores: Hey, ladies, Ric Romero has some hot tips to help you bounce back from bankruptcy:
    [daphnecaruanagalizia.com image 314x313]


    Oh shiat haha, now I RTA and it really is Ric Romero.
  • dustman81: why the FICO score is a scam


    Care to give the bullet point or two version of that?
  • Find a wealthy husband?
  • CruJones: I'm having a hard time feeling sorry for the woman with two mortgages and kids in private school.


    Yeah, she's totally typical.
  • Tits for women would be redundant
  • CruJones: Get a 15-year, fixed rate and put down as much as you can.


    That really isn't feasible for a lot of people in higher cost housing markets.
  • I thought the way women get out of financial trouble is to marry someone who is doing well? From what I have seen by women I know, this is pretty common solution.
  • The answer is obvious
    i651.photobucket.comView Full Size


    1. Borrow money from your parents
    2. Sell some of your beloved stocks
    3. Eat a lot of pasta and tuna fish
  • DoctorCal: First, get a million dollars.


    But, DoctorCal, what do I say to the taxman when he comes to my door and says "You have never paid taxes?"
  • Overlord44: dustman81: why the FICO score is a scam

    Care to give the bullet point or two version of that?


    The FICO score isn't based on how financially successful you are. It's based on how often you borrow money and pay it back. Someone who has very little savings, but borrows money and pays it back over and over again will have a higher FICO score than someone who has savings and doesn't borrow money.

    The FICO score and credit are so ingrained into the American culture that those who don't use credit are considered weird.
  • I do not admire the attitude of some women. Typically, they find security through having money, yet don't feel they need to do much to earn it.

    So, anybody know where I can buy some deep fried ice cubes? My GF just sent me out for some.
  • Overlord44: dustman81: why the FICO score is a scam

    Care to give the bullet point or two version of that?


    FICO is a scam in that your score is tied to having access to and using credit. If you do no have revolving debt such as a credit card, or no credit history at all your score can be quite low even if you pay for everything in cash and pay all your bills on time.

    People who think the inability to have access to credit are quite naive though so you shouldn't put too much stock in the cash only thing (unless you work under the table or off books). You need to show you can pay off small debts before someone is going to write you a check for something larger like a car or house. If you want to opt out, save up and pay up, but I'd rather get a nice low interest loan. The main thing is to have credit that you use responsibly, and if you're paying off your balances and not living outside of your means it's really not that hard.
  • dustman81: The FICO score isn't based on how financially successful you are. It's based on how often you borrow money and pay it back. Someone who has very little savings, but borrows money and pays it back over and over again will have a higher FICO score than someone who has savings and doesn't borrow money.

    The FICO score and credit are so ingrained into the American culture that those who don't use credit are considered weird.


    Just curious, how does that make it a scam?
  • dustman81: Overlord44: dustman81: why the FICO score is a scam

    Care to give the bullet point or two version of that?

    The FICO score isn't based on how financially successful you are. It's based on how often you borrow money and pay it back. Someone who has very little savings, but borrows money and pays it back over and over again will have a higher FICO score than someone who has savings and doesn't borrow money.

    The FICO score and credit are so ingrained into the American culture that those who don't use credit are considered weird.


    I don't really feel that strongly one way or another about FICO or not but I have to ask the following:

    If you have a large savings, why is it such a problem to open up some line of credit, any line of credit just to keep your history consistent and positive? It seems to me to be ridiculous to refuse to get any kind of credit line just because you don't need it. I suppose I can see the logic of it but if you're the type who has a large savings account, you're likely not going to be the type who goes on a 30k bender with your credit card and will never be able to pay it back. I suppose it comes down the simple fact that if you ever plan on trying to buy a house or something that you can't afford to pay cash on, you're an idiot if you spend 10 or 20 or however many years refusing to establish a credit history just because "i don't have to do". It's a very childish way to look at the world and an utter failure on the part of the person when planning for their future. It's not like you're standing for anything, it just seems like you're being argumentative for the sake of it.

    I know dozens of people who have credit cards with 10-30k credit lines who have never paid a cent of interest because they buy gas/groceries/utilities/etc with it and then just pay it off when they get their bill. I do that as well. In addition to not having to pay interest, I will get 3% cash back normally on at least one of those categories and 1% on the rest of it. That accounts for a few hundred dollars a year that I would have not had otherwise.

    So why not just do something like either of those scenarios? Yes, the FICO score may be a "Scam" in your opinion but if you live here, just make the ever so small token gesture to play by the rules of the system you are a part of. I just wonder if anyone feels there's any compelling reason to refuse to participate in building an active credit history.
  • dustman81: [talesuntangled.files.wordpress.com image 310x400]

    Read this and you'll find out why the FICO score is a scam. Don't worry about your credit score. Pay cash and live below your means. 

    When it comes to buying a house, rent and save your money. Pay your rent early or on time. Find a mortgage lender that uses manual underwriting. Get a 15-year, fixed rate and put down as much as you can.



    Yes, this works fantabulous until you're applying for a job where they check your credit history. Hmm... this guy doesn't have any. Let's just move on to applicant #218...

    Also, good luck renting that car while on vacation when your credit history looks like a 12 year old's...
  • BlackDebbie: dustman81: Overlord44: dustman81: why the FICO score is a scam

    Care to give the bullet point or two version of that?

    The FICO score isn't based on how financially successful you are. It's based on how often you borrow money and pay it back. Someone who has very little savings, but borrows money and pays it back over and over again will have a higher FICO score than someone who has savings and doesn't borrow money.

    The FICO score and credit are so ingrained into the American culture that those who don't use credit are considered weird.

    I don't really feel that strongly one way or another about FICO or not but I have to ask the following:

    If you have a large savings, why is it such a problem to open up some line of credit, any line of credit just to keep your history consistent and positive? It seems to me to be ridiculous to refuse to get any kind of credit line just because you don't need it. I suppose I can see the logic of it but if you're the type who has a large savings account, you're likely not going to be the type who goes on a 30k bender with your credit card and will never be able to pay it back. I suppose it comes down the simple fact that if you ever plan on trying to buy a house or something that you can't afford to pay cash on, you're an idiot if you spend 10 or 20 or however many years refusing to establish a credit history just because "i don't have to do". It's a very childish way to look at the world and an utter failure on the part of the person when planning for their future. It's not like you're standing for anything, it just seems like you're being argumentative for the sake of it.

    I know dozens of people who have credit cards with 10-30k credit lines who have never paid a cent of interest because they buy gas/groceries/utilities/etc with it and then just pay it off when they get their bill. I do that as well. In addition to not having to pay interest, I will get 3% cash back normally on at least one of those categories and 1% on th ...


    Count me in as one of those, Got a Cap One never paid a dime interest. I get sky miles that I convert to cash every six months.
  • BlackDebbie: So why not just do something like either of those scenarios? Yes, the FICO score may be a "Scam" in your opinion but if you live here, just make the ever so small token gesture to play by the rules of the system you are a part of. I just wonder if anyone feels there's any compelling reason to refuse to participate in building an active credit history.


    The only winning move is not to play. The game is rigged in the bank's favor. How do you think banks are able to build skyscapers and buy themselves bailouts?

    ZeroPly: Yes, this works fantabulous until you're applying for a job where they check your credit history. Hmm... this guy doesn't have any. Let's just move on to applicant #218...


    Do you want to work an employer who is so lazy in their hiring process they don't even bother to check as to why you don't have a credit score?
  • Went through banruptcy last year. I'm going to need a car soon, maybe in the next two years, as mine is over 10 years old and repairs are getting costly. I don't know what I'm gonna do, as I can't even get a Sears card, let alone a car loan.

    /And yet, had no problem renting a car from Enterprise.
  • dustman81: BlackDebbie: So why not just do something like either of those scenarios? Yes, the FICO score may be a "Scam" in your opinion but if you live here, just make the ever so small token gesture to play by the rules of the system you are a part of. I just wonder if anyone feels there's any compelling reason to refuse to participate in building an active credit history.

    The only winning move is not to play. The game is rigged in the bank's favor. How do you think banks are able to build skyscapers and buy themselves bailouts?

    ZeroPly: Yes, this works fantabulous until you're applying for a job where they check your credit history. Hmm... this guy doesn't have any. Let's just move on to applicant #218...

    Do you want to work an employer who is so lazy in their hiring process they don't even bother to check as to why you don't have a credit score?


    How is it "rigged"? Just pay on time and its completely free. As others have pointed out, you even can get cash back. I also earn about four or five free flights a year. And my money can earn interest for 30 days when the bill is paid. It's not rocket surgery.
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