Credit Cards

[jim5518]

I spent 3 long years cleaning up mine and not paying would be stupid.People with high scores will still get credit.People that pay will still get credit,maybe a higher rate than now.We have always had bumps in the road and this situation will improve with time.

[athensguy]

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AWLEGZ wrote:

I agree I have come to far to let my credit go now--I am just going to keep doing what I am doing and hopefully my companies will see my value and not let me go or decrease my limits---but this little crisis will not allow me to destroy my CREDIT---I will just live within my means and try to manage it and areas where I may have cards higher limits than I would wish--work them down but still show along the way timeliness and worthiness......If anything getting credit and loans will get harder to come by -sure not going to make it harder on myself ....Been there and done that!!

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Why would you ask for lower limits?

[EddieX]

Someone suggesting they won't pay their bills? Aren't you supposed to be BUILDING credit not destroying it?

Even though right now it seems like you need a 800+ score, you can still get credit. And when this thing blows over you don't want to be out there begging for scraps. That's how I see it.

As soon as the government props up these banks, things should go back to normal, maybe a little less than normal but not too far from the norm. That would cause the same issue in reverse.

[Miner]

Stop paying your bills just because the banks are having trouble?  Go ahead and try it and tell us how that worked out for you.  The rest of us will watch with fascination much like how one watches a train wreck in the making.

Even if a bank fails, someone will end up owning the paper and will want payment or they will trash your credit. 

Message Edited by Miner on 09-30-2008 10:45 AM

[ilovepizza]

I think if anything people will need higher scores to continue seeing open doors like they had in the past few years. More reasons to play the FICO game to keep your scores higher. Everyone and I don't care who with time and effort can get past baddies, why throw it away.

Besides. I think credit cards is a profitable business. Maybe even more so with current times as this might be the only way people will get credit in some cases. So in turn putting more debt on CCs and paying more interest to the banks... Profitable for paying consumers.

Message Edited by ilovepizza on 09-30-2008 01:59 PM

[haulingthescoreup]

I'm feeling kinda bad for Jubeyy, because I think he might have been being facetious.

[Jubeyy]

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haulingthescoreup wrote:
I'm feeling kinda bad for Jubeyy, because I think he might have been being facetious.

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I was reading these responses right now and I was thinking, JEEEZZZ!!! Can't they see I was exaggerating about not paying my bills? Then I read your post last, lol.

Of course I am not going to stop paying my bills. I was just wondering what people were thinking about. I have been reading a lot of recent posts and it seems like a lot people are still worried about raising their limits right now when they should be (as HTSU put it) hunker down mode and thankful for what they have.

Relax, I'm not going to do anything to let my FICO drop. It was kind of funny though reading all the responses

[haulingthescoreup]

Doesn't take much to freak people out today!

[mjbfan79]

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haulingthescoreup wrote:
Doesn't take much to freak people out today!

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lol

[Miner]

But I wanted him to try doing it.  When he reported his results latter, I thought it would be amusing in the same way those fake motivation posters are.