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Valued Contributor
Mustanglvr2006
Posts: 1,971
Registered: ‎02-06-2011

Re: I wish I didn't care so much


barbaralee wrote:


This is probably more of an answer than what you are wanting:

 

When she first came to the U.S. she had me, my brother and 0 credit. She had divorced my father (who we never met) and came to the States with $10,000 and a 1978 monte carlo in assets. She could barely speak English, and to this day struggles with reading and writing in English and prefers her native language. She said she realized she needed credit, but no one would give her any because she had nothing. Finally Dillards gave her a $300 credit card. Shortly after that she got a Sears card and it progressed. And now, 28 years later she has this impeccable score, her own business, two homes, a $30,000+ car that she bought brand new last year and paid off this last September, and a pocketful of credit cards.

 

I have seen her easily talked into opening cards, using them once, and tossing them aside. I believe what several here have already stated are correct: at one point she was meticulous about her credit... but she has reached a point in her life where it doesn't matter as much, anymore. Of course she does what she has to to maintain it, but it is not as important of an issue for her.

 

 


 This is an awesome story, your Mother sounds like a very very smart woman and so do you, just keep on doing what your doing and I believe that you will be where she is at some time in the near future, I Wish you the very best of Luck!


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Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: I wish I didn't care so much


barbaralee wrote:

Wolf3 wrote

The real mystery here is " she doesn't like them and has never really had a need for them.".    Why does she have them?    



This is probably more of an answer than what you are wanting:

 

When she first came to the U.S. she had me, my brother and 0 credit. She had divorced my father (who we never met) and came to the States with $10,000 and a 1978 monte carlo in assets. She could barely speak English, and to this day struggles with reading and writing in English and prefers her native language. She said she realized she needed credit, but no one would give her any because she had nothing. Finally Dillards gave her a $300 credit card. Shortly after that she got a Sears card and it progressed. And now, 28 years later she has this impeccable score, her own business, two homes, a $30,000+ car that she bought brand new last year and paid off this last September, and a pocketful of credit cards.

 

I have seen her easily talked into opening cards, using them once, and tossing them aside. I believe what several here have already stated are correct: at one point she was meticulous about her credit... but she has reached a point in her life where it doesn't matter as much, anymore. Of course she does what she has to to maintain it, but it is not as important of an issue for her.

 

 


Now that is the impressive story!  

Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011

Re: I wish I didn't care so much

What a wonderful story. I hope to get like that one day. I care so much about my credit. Of course my situation is like most people in their 30's. Working hard to find ways to maximize every dollar spent. For me credit cards make my purchases worth while. With all the craziness in the economy, the charges for use of a debit card by America's biggest banks, etc, I find it important to be on top and have the best products in my wallet.

 

Last night a friend said to me: credit is for suckers. I disagree. It's all in how you use it. I used to think that as well. I used to think that credit was there for when you ran out of money and had an emergency. I've changed my perspective in so many ways. My what a difference age makes. Wonder what I'll worry about 20 years from now?

Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

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Regular Contributor
jla84
Posts: 249
Registered: ‎07-21-2011

Re: I wish I didn't care so much

I have a similar story! My parents use AmEx Clear almost exclusively, and then some sort of Capital One (no doubt without an AF) as a back up. I remember when they refinanced their mortgage recently, the loan officer told them he had never seen as high a credit score as my Dad's! What's ironic is that when I was growing up they told me never to apply for/use credit cards! But I think once rewards became standard, they started to ease up a little. Plus they've had a mortgage and a few car loans in the 40 years since they've been married. I also get frustrated that they have it so easy and never seem to care about credit, while I made a couple mistakes with my student credit card in college and am trying to rebuild right now. But I also recognize that they have 40 years of credit on me, and one day I will be there too. 


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Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011

Re: I wish I didn't care so much


laboi_22 wrote:

What a wonderful story. I hope to get like that one day. I care so much about my credit. Of course my situation is like most people in their 30's. Working hard to find ways to maximize every dollar spent. For me credit cards make my purchases worth while. With all the craziness in the economy, the charges for use of a debit card by America's biggest banks, etc, I find it important to be on top and have the best products in my wallet.

 

Last night a friend said to me: credit is for suckers. I disagree as well, every time I hear someone say that, it's almost always that they've trashed theirs or can't handle the responsibility (the last time someone said that to me, I found out later they had filed BK twice in the previous 4 years, don't ask me how, I don't know much about BK) And I never used to think much about credit either. I disagree. It's all in how you use it. I used to think that as well. I used to think that credit was there for when you ran out of money and had an emergency. I've changed my perspective in so many ways. My what a difference age makes. Wonder what I'll worry about 20 years from now?  I can answer that one for ya LOL usually it'll be your health, your health coverage, your retirement and your family and long list of "what if's" that you'll think of just because you have life experience. You'll also worry why people in their 20's won't listen to advice as you try to map out life's obstacle course for them from knowledge and worry they must be crazy not to want all the warnings they can get.:smileyvery-happy:



The funny thing is, most people do not seek the map of knowledge for the road of life (like coming here to learn about credit etc) until they've hit a noticeable bump or taken a wrong turn on that road. I think it's because they somehow know that map is kind of scary and somewhat depressing LOL

Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011

Re: I wish I didn't care so much

Ryvision you are so right. I found out today that my friend who made that comment to me has had bad experiences with credit and his CR is completely wrecked. That would explain it!

Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000

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