Actually the average Joe that got credit tried to play pimp and ended getting pimp slapped. Those average Joes' got approved for 4 house mortgages simultaneously and rent out until they had enough equity to refi and cash out thousands. Hence "thousandaire". The pimp slap came when they tried to bail on their mortgage obligations, because they couldn't pay their mortgages due to not having any renter income. So one house after another went into foreclosure and we're now here...
New FICO Score System: What You Need to Know
- Thread starter ArsenalCannon357
- Start date
Cool for dropping the info but they've been talking about the new fico scoring for at least 5 years now and every year they say its coming next year...
The best thing would be to have no debt but it hurts your score so what your saying is bullshit as usual. Stay out of black peoples problems.
i have a fico score of 820......how would i be affected??
You either make peanuts and owe peanuts or make a lot and owe a lot.
820 is high as shit.
The credit system is bullshit. I don't know why the government would let a "corporation" have so much control over people's lives anyway.
I disagree. The problem is that most people are resorting to credit when the immediate income is not present, which leads to the ridiculously growing interest rates. The way the system is now, most people have good credit until they really need to use it, and that is "more often" after they been laid off, fired, quit, or just got a new job, and trying to enhance the living situation.
So, is the solution to just give credit to anyone who can show that they are making money, and should we just do away with having a standard objective measurement of credit worthiness?
Corporations don't have control over people's life. You can simply wait until you have money before you buy stuff.
Hard inquiries spread across a several weeks affect your score. A hard inquirie is something like searching for a loan, credit card, or to raise your credit limits. A soft inquirie is something like looking up your credit score.
Not actually a solution, but a start. Nevertheless, the current format of credit worthiness, is extremely flawed.
You do realize that if we got enough people together to put pressure on their legislator the FICO system could be made to go away or improve. The people have the power. We got a Black President elected, we can do whatever we choose if there are enough voices.
You aint lying bro.