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Do you give friends/family credit advice?

Established Contributor

Re: Do you give friends/family credit advice?

In general I keep my mouth shut however an old friend who own's a business I gave him a few tips but it's not a topic I care to discuss.

Gardening 2020-2021
Total CL 113k+ UTIL 0.01% Uber Visa, DoubleCash, Quicksilver, Discover IT, Freedom Ulimited, Blue Cash, Premier Rewards GOLD
Message 61 of 79
Valued Contributor

Re: Do you give friends/family credit advice?

Everybody at work asks me all their questions so I guess so... I do sometimes say "I don't know" though when their head isn't on straight.


TU FICO 8: 745 (1/18) — Ex FICO 8: 738 (1/18)
Message 62 of 79
Valued Contributor

Re: Do you give friends/family credit advice?

I recently gave a friend and relative advice on how to rebuild their credit. They took that advice and thanked me later. Smiley Happy 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $15,000 / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / JC Penney - $10,000 / Discover IT - $6000 / Barclay Apple Rewards - $5400
Merrick - $2400 - Total - $130,800

EQ - 745 / TU - 738 / EX - 740
Message 63 of 79
New Member

Re: Do you give friends/family credit advice?

Usually, I do not give advice as very often people do not like when someone points out what they should do. I may provide some tips when it is asked. Still, I do not like this a lot as I'm not an expert in the given field. 

Message 64 of 79
Member

Re: Do you give friends/family credit advice?

I never try to give some credit advice. I know that it is just wasting time  and efforts

Message 65 of 79
Contributor

Re: Do you give friends/family credit advice?

I have many friends of my wife who have bankruptcies. I could help all of them if they were interested, but only one ever asked. She rebuilt her credit (I pointed her here to be honest) and gave her basic advice on how credit scores work. I find giving unsolicited advice of any type but especially about finances rarely comes across well.

 

Honestly most things in finance have to come from an individual. In this day an age information is everywhere, it's the will that's so hard.  

5/08 EQ 696.....9/13 EQ 796.....9/17 EX 824, EQ 843
Amex Blue Cash 15K || PenFed Cash Rewards 18K || Chase Freedom 12K || Cap1 Quicksilver 15K || Amazon Prime 3.8K || Citi Double Cash 10.8K
Message 66 of 79
New Contributor

Re: Do you give friends/family credit advice?

No. NEVER TRUST AN-Y-BO-DY WITH ANY KIND OF FINANCIAL INFORMATION ABOUT YOU ESPECIALLY IF YOU LOVE THEM/ARE FRIENDS OR FAMILY.
Message 67 of 79
Super Contributor

Re: Do you give friends/family credit advice?

After a couple of tries I got my parents to get them to PIF their mortgage.  It felt so good when they did that because it was the right thing to do and I was also happythey listened to me.  Even after all the work I did to fix my credit, helping them made it seem that I finally did have my act together regardless of what my FICO score was.

01/23/2018: FICO 829 EQ 827 TU 831 EX
Message 68 of 79
Established Member

Re: Do you give friends/family credit advice?

Yes. Though I might don't have much knowledge as a professional adviser have, still I try my best to help them according to my experience. It helps me to gain more knowledge.

Learn, Implement, Conquer
Message 69 of 79
Regular Contributor

Re: Do you give friends/family credit advice?

I only give advice to those who ask. Unsolicited advice is just wasting time.

NFCU Visa (20K) ~ FNBO MLife MC (3K) ~ SYNCB Amazon Store (1K) ~ SYNCB Wal Mart (1K) ~ Amex PRG (NPSL) ~ Amex BCE (2K) ~ Amex Delta Gold (1K) ~ Amex HHonors (1K)
AAOA: 0 yrs 10 mos
Util Reporting: 69% as of 4/14/18
Inq: 3
Current Scores (3/14/18): 642 TU FICO
Message 70 of 79