3rd Credit AMA [Ask Me Anything] Live with User KDM 31091

[_NERD]

I got ran over, as if this were Running of the Bulls in Spain.

I'm on strike.

[kdm31091]

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@_NERD wrote:
I edited my question while you were replying. All those cards are stuffed in your wallet right now?

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All I'm really using lately is the discover, cashforward and occasionally the BOA cash.

[Anonymous]

So I asked you a prior question and I think you missed it.  How did you discover myFICO?  Did you find it via Google and or where you looking for something specifically and then found myFICO?

Also, I am also incorporating this question also. 

• When did you realize the difference between FAKOs and FICOs?  How did that factor into your decision to apply or not to apply for credit?

[kdm31091]

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@Anonymous wrote:

So I asked you a prior question and I think you missed it.  How did you discover myFICO?  Did you find it via Google and or where you looking for something specifically and then found myFICO?

Also, I am also incorporating this question also. 

• When did you realize the difference between FAKOs and FICOs?  How did that factor into your decision to apply or not to apply for credit?

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I found MF when looking on google for a way to pull my reports. I then stumbled across the forum.

I don't think I knew that things like CreditKarma won't FICO scores until after coming here. The MF monitoring helped me see my real, true scores and reports which helped me decide better about applying, vs the FAKOs from creditkarma. I like CK for report info, etc but one should never be relying on the number they give.

[Anonymous]

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@kdm31091 wrote:

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@Anonymous wrote:

So I asked you a prior question and I think you missed it.  How did you discover myFICO?  Did you find it via Google and or where you looking for something specifically and then found myFICO?

Also, I am also incorporating this question also. 

• When did you realize the difference between FAKOs and FICOs?  How did that factor into your decision to apply or not to apply for credit?

---

I found MF when looking on google for a way to pull my reports. I then stumbled across the forum.

I don't think I knew that things like CreditKarma won't FICO scores until after coming here. The MF monitoring helped me see my real, true scores and reports which helped me decide better about applying, vs the FAKOs from creditkarma. I like CK for report info, etc but one should never be relying on the number they give.

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Got it.  So any credit cards on your wishlist?  Or are you done getting credit cards for now...

[kdm31091]

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@Anonymous wrote:

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@kdm31091 wrote:

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@Anonymous wrote:

So I asked you a prior question and I think you missed it.  How did you discover myFICO?  Did you find it via Google and or where you looking for something specifically and then found myFICO?

Also, I am also incorporating this question also. 

• When did you realize the difference between FAKOs and FICOs?  How did that factor into your decision to apply or not to apply for credit?

---

I found MF when looking on google for a way to pull my reports. I then stumbled across the forum.

I don't think I knew that things like CreditKarma won't FICO scores until after coming here. The MF monitoring helped me see my real, true scores and reports which helped me decide better about applying, vs the FAKOs from creditkarma. I like CK for report info, etc but one should never be relying on the number they give.

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Got it.  So any credit cards on your wishlist?  Or are you done getting credit cards for now...

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Honestly, trying to be done for 2016. I have too many inquiries from 2014/2015, and a bunch will come off later this year. If I app for things now, I won't be at a real net loss with inquiries, which I want to be. So no apps, unless something really enticing came along (especially for dining). Given recent new card trends I'm kind of doubting there will be anything super groundbreaking that I can't live without but you never know I guess!

[Anonymous]

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@kdm31091 wrote:

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@Anonymous wrote:

Are you considering a credit analyst position maybe with your mom? you are giving advise to a lot of members here like an analyst saying the do and the don't....

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No college degree or I would think about it. Most positions require a degree these days!

I do try to give the most straightforward advice I can, and try to think like a credit analyst or issuer would. When we get caught up in the thrill of applying for things we can forget that it can be playing with fire.

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For someone with no college degree, you are are learned about these things.  Do you think your staunch opinion on the way people apply for credit would ever changed?. As people age, their way of thinking also evolves with some becoming more relaxed with rules they set forth.

[kdm31091]

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@Anonymous wrote:

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@kdm31091 wrote:

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@Anonymous wrote:

Are you considering a credit analyst position maybe with your mom? you are giving advise to a lot of members here like an analyst saying the do and the don't....

---

No college degree or I would think about it. Most positions require a degree these days!

I do try to give the most straightforward advice I can, and try to think like a credit analyst or issuer would. When we get caught up in the thrill of applying for things we can forget that it can be playing with fire.

---

For someone with no college degree, you are are learned about these things.  Do you think your staunch opinion on the way people apply for credit would ever changed?. As people age, their way of thinking also evolves with some becoming more relaxed with rules they set forth.

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I do think my opinion will probably relax somewhat over time. Having said that, I'm not sure about banks relaxing their opinions over time. If anything, it seems  things are tightening up, so I think people do really need to consider apps carefully as things like Chase 5/24, amex once in a lifetime, etc become realities. These things can be cyclical so perhaps issuers will loosen up again someday but for now I do think people need to be conservative.

[Anonymous]

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@kdm31091 wrote:

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@Anonymous wrote:

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@kdm31091 wrote:

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@Anonymous wrote:

Are you considering a credit analyst position maybe with your mom? you are giving advise to a lot of members here like an analyst saying the do and the don't....

---

No college degree or I would think about it. Most positions require a degree these days!

I do try to give the most straightforward advice I can, and try to think like a credit analyst or issuer would. When we get caught up in the thrill of applying for things we can forget that it can be playing with fire.

---

For someone with no college degree, you are are learned about these things.  Do you think your staunch opinion on the way people apply for credit would ever changed?. As people age, their way of thinking also evolves with some becoming more relaxed with rules they set forth.

---

I do think my opinion will probably relax somewhat over time. Having said that, I'm not sure about banks relaxing their opinions over time. If anything, it seems  things are tightening up, so I think people do really need to consider apps carefully as things like Chase 5/24, amex once in a lifetime, etc become realities. These things can be cyclical so perhaps issuers will loosen up again someday but for now I do think people need to be conservative.

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Got it.  As we only have 10 more minutes to go, here are the last few questions...

• What do you think about the myFICO forum in general.?
• What would you like to see done differently moving forward?  
• With so many threads, what would you say to newbies starting their credit journey as all these massive info. can be very confusing to them?
• Lastly, shoud the SCT be rid off?

[Anonymous]

also, i am sure many may wonder this, but what is your idea of true gardening? we've discussed some claim to garden then leave in under a month.. what do you think the true mindset should be