Replies to This Discussion

Permalink Reply by blackfujones on September 29, 2011 at 9:52am

EXACTLY..its all a sham...along as you KNOW PEOPLE and have the capital youre fine

University of Smitty said:

I agree.  Your credit reflects how well you pay on your bills.  If you dont have anything to pay on, they say you dont have any credit.  No credit is just as bad as bad credit.

blackfujones said:

my opinion i cut all the frivolous s*** out now so i can live later..granted I still take trips/shop/eat out etc. i just found ways to do it without using money. nor using others.  So with the bday/xmas etc cut the gift giving down bc it aint that serious.  Far as your debt goes pay small on big s***, pay high on little s*** and use the snowball effect.

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Permalink Reply by OLD $PICE PINE NEEDLE on September 29, 2011 at 10:38am

They push 'good credit' as a way to get you to borrow! That's how they make money with interest rates that will have you paying double/triple/quadruple what you owe.  When I did mortgages & loans and I saw the the interest rates were 'per diem' I was like WTH??? By the time you done paying back the loans and mortgages (unless you were aggressive in paying back the principle) the amount repaid in interest you could have that in the bank and you could buy 2-3 houses with the interest.

Our parents did quite well without credit back in the day. We're addicted to credit which does not lead to the creation of wealth.

blackfujones said:

EXACTLY..its all a sham...along as you KNOW PEOPLE and have the capital youre fine

University of Smitty said:

I agree.  Your credit reflects how well you pay on your bills.  If you dont have anything to pay on, they say you dont have any credit.  No credit is just as bad as bad credit.

blackfujones said:

my opinion i cut all the frivolous s*** out now so i can live later..granted I still take trips/shop/eat out etc. i just found ways to do it without using money. nor using others.  So with the bday/xmas etc cut the gift giving down bc it aint that serious.  Far as your debt goes pay small on big s***, pay high on little s*** and use the snowball effect.

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Permalink Reply by blackfujones on September 29, 2011 at 10:46am

exactly....im back to straight cash.i dont want any credit at all.

OLD $PICE PINE NEEDLE said:

They push 'good credit' as a way to get you to borrow! That's how they make money with interest rates that will have you paying double/triple/quadruple what you owe.  When I did mortgages & loans and I saw the the interest rates were 'per diem' I was like WTH??? By the time you done paying back the loans and mortgages (unless you were aggressive in paying back the principle) the amount repaid in interest you could have that in the bank and you could buy 2-3 houses with the interest.

Our parents did quite well without credit back in the day. We're addicted to credit which does not lead to the creation of wealth.

blackfujones said:

EXACTLY..its all a sham...along as you KNOW PEOPLE and have the capital youre fine

University of Smitty said:

I agree.  Your credit reflects how well you pay on your bills.  If you dont have anything to pay on, they say you dont have any credit.  No credit is just as bad as bad credit.

blackfujones said:

my opinion i cut all the frivolous s*** out now so i can live later..granted I still take trips/shop/eat out etc. i just found ways to do it without using money. nor using others.  So with the bday/xmas etc cut the gift giving down bc it aint that serious.  Far as your debt goes pay small on big s***, pay high on little s*** and use the snowball effect.

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Permalink Reply by OLD $PICE PINE NEEDLE on September 29, 2011 at 10:51am

I have a department store card for $500 and that's what I keep to keep my credit going. I have a pay per use MC (because you can't book a hotel, rent a car or purchase anything on the net without a freaking card). I have my future plan  challenges where I document all the things I want to purchase in the future and save for them that way I'm not over extending myself.

This I NEED IT NOW mentality is the death of black folks.

blackfujones said:

exactly....im back to straight cash.i dont want any credit at all.

OLD $PICE PINE NEEDLE said:

They push 'good credit' as a way to get you to borrow! That's how they make money with interest rates that will have you paying double/triple/quadruple what you owe.  When I did mortgages & loans and I saw the the interest rates were 'per diem' I was like WTH??? By the time you done paying back the loans and mortgages (unless you were aggressive in paying back the principle) the amount repaid in interest you could have that in the bank and you could buy 2-3 houses with the interest.

Our parents did quite well without credit back in the day. We're addicted to credit which does not lead to the creation of wealth.

blackfujones said:

EXACTLY..its all a sham...along as you KNOW PEOPLE and have the capital youre fine

University of Smitty said:

I agree.  Your credit reflects how well you pay on your bills.  If you dont have anything to pay on, they say you dont have any credit.  No credit is just as bad as bad credit.

blackfujones said:

my opinion i cut all the frivolous s*** out now so i can live later..granted I still take trips/shop/eat out etc. i just found ways to do it without using money. nor using others.  So with the bday/xmas etc cut the gift giving down bc it aint that serious.  Far as your debt goes pay small on big s***, pay high on little s*** and use the snowball effect.

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Permalink Reply by CCD is Workin on a baller 4 she on September 29, 2011 at 10:58am

$picey that mentality is the death of a lot of folks.

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Permalink Reply by blackfujones on September 29, 2011 at 10:58am

OMG...my gf (who used to be a financial analyst for verizon) only uses pre-paid mc or cash.she stores all of her money in credit unions/online banks/or small banks.They all are willing to give credit if needed but she never uses it.  I dont use any major banks anymore and only go to my credit union/small bank where i save my money.I just transfer money  to my pre-paid card to use when im out of town or whatever bc of the visa/mastercard logo.  And I have a sears card just to keep my credit going(my girls need school uniforms..but i only do that just so i can buy em then give use em.give em back to the school n get reimbursed for them.then i pay the bill with that money...lol)

OLD $PICE PINE NEEDLE said:

I have a department store card for $500 and that's what I keep to keep my credit going. I have a pay per use MC (because you can't book a hotel, rent a car or purchase anything on the net without a freaking card). I have my future plan  challenges where I document all the things I want to purchase in the future and save for them that way I'm not over extending myself.

This I NEED IT NOW mentality is the death of black folks.

blackfujones said:

exactly....im back to straight cash.i dont want any credit at all.

OLD $PICE PINE NEEDLE said:

They push 'good credit' as a way to get you to borrow! That's how they make money with interest rates that will have you paying double/triple/quadruple what you owe.  When I did mortgages & loans and I saw the the interest rates were 'per diem' I was like WTH??? By the time you done paying back the loans and mortgages (unless you were aggressive in paying back the principle) the amount repaid in interest you could have that in the bank and you could buy 2-3 houses with the interest.

Our parents did quite well without credit back in the day. We're addicted to credit which does not lead to the creation of wealth.

blackfujones said:

EXACTLY..its all a sham...along as you KNOW PEOPLE and have the capital youre fine

University of Smitty said:

I agree.  Your credit reflects how well you pay on your bills.  If you dont have anything to pay on, they say you dont have any credit.  No credit is just as bad as bad credit.

blackfujones said:

my opinion i cut all the frivolous s*** out now so i can live later..granted I still take trips/shop/eat out etc. i just found ways to do it without using money. nor using others.  So with the bday/xmas etc cut the gift giving down bc it aint that serious.  Far as your debt goes pay small on big s***, pay high on little s*** and use the snowball effect.

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Permalink Reply by OLD $PICE PINE NEEDLE on September 29, 2011 at 11:03am

You're right, and people are learning no to take care of their needs and not their wants.

CCDreamer aka Eve Davis said:

$picey that mentality is the death of a lot of folks.

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Permalink Reply by Ms. Ashley Banks on September 29, 2011 at 11:14am

SAY THAT AGAIN! I couldn't get a car note a few years ago, then I saw people around me with lower scores getting giant houses and all kinds of stuff. It's all a sham. That's why the real estate market tanked. How many 23 and 24 year olds do you know that truly need a 3,000 sq. ft. home?! And why did I suddenly know 6 mortgage officers, none of which had degrees or any real interest in finance. I only know of two of them who had worked at banks and understood the process.

 

CONSPIRACY: Did anyone notice how almost everyone you knew who worked at Countrywide was black or Latino? Like I knew of no white people, besides the higher ups, who worked for Countrywide. I tried to get hired there and didn't, yet every dumb n*gga and fat a** Lupe with 3 kids were getting hired and promoted quickly. It was all a setup to put people into houses ASAP by hiring people who wouldn't question what they were taught.

OLD $PICE PINE NEEDLE said:

They push 'good credit' as a way to get you to borrow! That's how they make money with interest rates that will have you paying double/triple/quadruple what you owe.  When I did mortgages & loans and I saw the the interest rates were 'per diem' I was like WTH??? By the time you done paying back the loans and mortgages (unless you were aggressive in paying back the principle) the amount repaid in interest you could have that in the bank and you could buy 2-3 houses with the interest.

Our parents did quite well without credit back in the day. We're addicted to credit which does not lead to the creation of wealth.
blackfujones said:

EXACTLY..its all a sham...along as you KNOW PEOPLE and have the capital youre fine
University of Smitty said:

I agree.  Your credit reflects how well you pay on your bills.  If you dont have anything to pay on, they say you dont have any credit.  No credit is just as bad as bad credit.
blackfujones said:

my opinion i cut all the frivolous s*** out now so i can live later..granted I still take trips/shop/eat out etc. i just found ways to do it without using money. nor using others.  So with the bday/xmas etc cut the gift  giving down bc it aint that serious.  Far as your debt goes pay small on big s***, pay high on little s*** and use the snowball effect.

• ▶ Reply

Permalink Reply by Honeycoated on September 29, 2011 at 11:37am

Wow, this thread got interesting! I feel like like doing the duckwalk up and through here!

 

Anyway, I agree about the credit unions. I used to work at a credit union and they are more willing to give you a chance and refinance what you have. I've been with them the longest out of any other bank, but my highest debt (besides student loans) is with them. A credit card i got through them, i was doing real good cuz at first is was a secured card. i put up $250 and they put up $250. Then over times they gave extended it $200 until i was given $1800 on the card. But i f***** that up making impulse purchases, i got it back down, then got played when i failed my emissions test and went somewhere and they charged me $700. I charged it. Hell, i kept getting tickets so it was either get it fixed or get tickets everyday because I had expired stickers.

 Little did I know I could have went to an alley mechanic, got a tune up and spent a lot less. But i know a pretty goos alley mechanic now!

Then during an time of unemployment Iwas using the credit card for eveyday s*** cuz I had no money. So, I'm slowly trying to pay off this $1800. They also re-financed my car and I was able to pay it off. So I have a long/pretty good history with my credit union.

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Permalink Reply by CCD is Workin on a baller 4 she on September 29, 2011 at 11:45am

Girl you say that shyt again. The people who I knew with good credit told me that when they went looking for houses that the agents kept trying to max out their salaries so that all they did was pay mortgage. One couple, the husband had a full-time and part-time job. He was using the part-time job to pay off his school loans as quickly as possible and his full-time salary was used for the household bills and to save for a house. The wife is my friend, she said when they sat down with the agent and she saw their combined salaries her eyes lit up! lol She said they let her exhaust herself showing them houses they weren't going to buy before she finally started showing them houses in the price range they gave her. A scam indeed!

Ms. Ashley Banks said:

SAY THAT AGAIN! I couldn't get a car note a few years ago, then I saw people around me with lower scores getting giant houses and all kinds of stuff. It's all a sham. That's why the real estate market tanked. How many 23 and 24 year olds do you know that truly need a 3,000 sq. ft. home?! And why did I suddenly know 6 mortgage officers, none of which had degrees or any real interest in finance. I only know of two of them who had worked at banks and understood the process.

 

CONSPIRACY: Did anyone notice how almost everyone you knew who worked at Countrywide was black or Latino? Like I knew of no white people, besides the higher ups, who worked for Countrywide. I tried to get hired there and didn't, yet every dumb n*gga and fat a** Lupe with 3 kids were getting hired and promoted quickly. It was all a setup to put people into houses ASAP by hiring people who wouldn't question what they were taught.

OLD $PICE PINE NEEDLE said:

They push 'good credit' as a way to get you to borrow! That's how they make money with interest rates that will have you paying double/triple/quadruple what you owe.  When I did mortgages & loans and I saw the the interest rates were 'per diem' I was like WTH??? By the time you done paying back the loans and mortgages (unless you were aggressive in paying back the principle) the amount repaid in interest you could have that in the bank and you could buy 2-3 houses with the interest.

Our parents did quite well without credit back in the day. We're addicted to credit which does not lead to the creation of wealth.
blackfujones said:

EXACTLY..its all a sham...along as you KNOW PEOPLE and have the capital youre fine
University of Smitty said:

I agree.  Your credit reflects how well you pay on your bills.  If you dont have anything to pay on, they say you dont have any credit.  No credit is just as bad as bad credit.
blackfujones said:

my opinion i cut all the frivolous s*** out now so i can live later..granted I still take trips/shop/eat out etc. i just found ways to do it without using money. nor using others.  So with the bday/xmas etc cut the gift  giving down bc it aint that serious.  Far as your debt goes pay small on big s***, pay high on little s*** and use the snowball effect.

• ▶ Reply

Permalink Reply by MissBling on September 29, 2011 at 12:53pm

I keep one cc w/ Bank of America and use it to keep building credit. I've always paid cash for ish. I don't like owing anybody anything.

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