topic Re: Credit Score Accuracy (+/-/=) in Credit Cards

Credit Score Accuracy (+/-/=)

MMart078 — Sun, 06 Dec 2009 23:32:15 GMT

How accurate do you think your credit score is, given your own evaluation of your likelihood to pay?

Re: Credit Score Accuracy (+/-/=)

BungalowMo — Sun, 06 Dec 2009 23:34:23 GMT

Even tho I don't know what it is these days, I'd guess my EX score is low simply because we hate each other!

Re: Credit Score Accuracy (+/-/=)

MMart078 — Sun, 06 Dec 2009 23:36:31 GMT

Good One LOL

Re: Credit Score Accuracy (+/-/=)

Imhotrodcrazy — Mon, 07 Dec 2009 01:07:15 GMT

@MMart078 wrote:
How accurate do you think your credit score is, given your own evaluation of your likelihood to pay?

I feel my EQ and TU are low.

Re: Credit Score Accuracy (+/-/=)

MMart078 — Mon, 07 Dec 2009 01:10:42 GMT

What are they if you don't mind me asking?

Re: Credit Score Accuracy (+/-/=)

Jazzzy — Mon, 07 Dec 2009 16:17:07 GMT

@MMart078 wrote:
How accurate do you think your credit score is, given your own evaluation of your likelihood to pay?

I think mine are OK....

Our scores right now are reflecting some debt we have taken on for me to finish grad school. I think that's fair. When I graduate in May and start earning a full paycheck again, our scores should gradually rise.

Re: Credit Score Accuracy (+/-/=)

MMart078 — Mon, 07 Dec 2009 16:20:14 GMT

What are you in grad school for?

Re: Credit Score Accuracy (+/-/=)

Jazzzy — Mon, 07 Dec 2009 16:31:52 GMT

Family Nurse Practitioner

(Used to be a real estate broker in an earlier life...)

Message Edited by LynetteM on 12-07-2009 08:31 AM

Re: Credit Score Accuracy (+/-/=)

MMart078 — Mon, 07 Dec 2009 16:33:53 GMT

You are definately needed. And by the way your scores are excellent as it is, so even with the new debt you are still in great shape.

I just became an agent any tips for me?

Message Edited by MMart078 on 12-07-2009 08:33 AM

Re: Credit Score Accuracy (+/-/=)

Jazzzy — Mon, 07 Dec 2009 17:14:43 GMT

@MMart078 wrote:
You are definately needed. And by the way your scores are excellent as it is, so even with the new debt you are still in great shape.

I just became an agent any tips for me?

Honesty. Humility. Hard work. Paying attention to every detail that a buyer/seller asks you about. That detail may not be important to you, but it is to them.

And...never be afraid to walk away from a client. I remember the day that I had gained enough confidence in myself and my ablities that I could tell a buyer or seller that I believed we may both be happier if they did business with someone else. Boy, that felt good. There is some money that is just not worth it.

Have confidence in yourself and your abilities. When I negotiated a listing or selling percentage, and then put a deal together, it seemed that the richest guys in town (...it was always the ones with the most money...) started trying to renegotiate our deal. There would be qualified buyer waiting in the wings, and the seller would tell me he would take the offer if I went down on my commission. I NEVER did that. I felt that my services were valuable, and I didn't want to cheapen the work I'd done...in their eyes or mine. I truly believe I got more business in the end because I was respected.

(Also...keep an eye out for the deals, and pick up a few investment properties. If the property can carry itself, and if you can leave the increasing equity alone, you will benefit on down the road. That's where I truly made my money in real estate.)

I wish you luck...

Re: Credit Score Accuracy (+/-/=)

DI — Mon, 07 Dec 2009 17:25:56 GMT

I'm going back to school for a degree in Finance while still able to. Any advice for me? I hope to keep my high scores intact during the process.

Message Edited by DI on 12-07-2009 11:25 AM

Re: Credit Score Accuracy (+/-/=)

Jazzzy — Mon, 07 Dec 2009 19:26:09 GMT

@DI wrote:
I'm going back to school for a degree in Finance while still able to. Any advice for me? I hope to keep my high scores intact during the process.

Hey DI...what do you mean "while still able to"??? It's never too late. In fact, had I tried this when I was younger with lots of young children, this would have been a much more difficult process for me. Now, I have one 16 y/o left at home. We study together...and, hey...what's with this new-type studying with the TV on, the laptop in front of you, music playing in your ears through your Ipod, and receiving and sending text messages every 3 seconds??? All this while reading Giants in the Earth. I don't know how kids do it, but she's got great grades, so I shouldn't gripe....(but I do).

The financing for school was a challenge. I've had to work for less than a full paycheck the last 4 years. I did a part-time masters while still working. This last year, however, because of clinical time, my school hours are full time. I work only a few evening hours. I don't know if you read my post to another poster who is going back to school, but we are at a place in our lives where we're a generation older than you guys...so, while it was challenging...it was possible to do it without major disruption. The biggest challenge was going to COBRA for health insurance. It's expensive and has huge deductibles. That was a shock to the system.

We tried to get as much financial back-up in place while I was still working before this last year. We have some excess back-up, but we tried to do this without changing life as my 16 y/o knows it. If we didn't have her at home, we would have cut down even more. This was a temporary thing, so we didn't make permanent changes. We just did financing that we would not have otherwise done (HELOC, car loan on paid-off car, etc.). We have done this without running up utilization on cards. We decided we'd rather have it on installments than on credit cards.

I still have a couple of school loans that will report after the first of the year, so I expect my FICO to take a bit more of a hit. It has held up pretty well. I think the key is cc utilization. (Don't do it!) Also, anything you want to apply for, do it now. That way, when you're done with school, it will have aged off.

Re: Credit Score Accuracy (+/-/=)

DI — Mon, 07 Dec 2009 19:38:23 GMT

@LynetteM wrote:
@DI wrote:
I'm going back to school for a degree in Finance while still able to. Any advice for me? I hope to keep my high scores intact during the process.
Hey DI...what do you mean "while still able to"??? It's never too late. In fact, had I tried this when I was younger with lots of young children, this would have been a much more difficult process for me. Now, I have one 16 y/o left at home. We study together...and, hey...what's with this new-type studying with the TV on, the laptop in front of you, music playing in your ears through your Ipod, and receiving and sending text messages every 3 seconds??? All this while reading Giants in the Earth. I don't know how kids do it, but she's got great grades, so I shouldn't gripe....(but I do).

The financing for school was a challenge. I've had to work for less than a full paycheck the last 4 years. I did a part-time masters while still working. This last year, however, because of clinical time, my school hours are full time. I work only a few evening hours. I don't know if you read my post to another poster who is going back to school, but we are at a place in our lives where we're a generation older than you guys...so, while it was challenging...it was possible to do it without major disruption. The biggest challenge was going to COBRA for health insurance. It's expensive and has huge deductibles. That was a shock to the system.

We tried to get as much financial back-up in place while I was still working before this last year. We have some excess back-up, but we tried to do this without changing life as my 16 y/o knows it. If we didn't have her at home, we would have cut down even more. This was a temporary thing, so we didn't make permanent changes. We just did financing that we would not have otherwise done (HELOC, car loan on paid-off car, etc.). We have done this without running up utilization on cards. We decided we'd rather have it on installments than on credit cards.

I still have a couple of school loans that will report after the first of the year, so I expect my FICO to take a bit more of a hit. It has held up pretty well. I think the key is cc utilization. (Don't do it!) Also, anything you want to apply for, do it now. That way, when you're done with school, it will have aged off.

I have no responsibilities that's holding me back from returning to college. My car loan will be PIF May 2010. The only bill I'll have is my student loan. Nothing "serious" is going on right now to keep me from furthering my education. I'm still relative young. I figured if I want a family in the near future, I better take care of this last personal goal before doing so. Part if my going back to college is to relocate to S. Florida where I want to make my permanent home and settle.

I've had time to grow and figure myself out these past couple of years. After May 2010, I will find myself in a perfect position to pack up and ship out.

Re: Credit Score Accuracy (+/-/=)

Jazzzy — Mon, 07 Dec 2009 21:54:10 GMT

DI wrote:

I have no responsibilities that's holding me back from returning to college. My car loan will be PIF May 2010. The only bill I'll have is my student loan. Nothing "serious" is going on right now to keep me from furthering my education. I'm still relative young. I figured if I want a family in the near future, I better take care of this last personal goal before doing so. Part if my going back to college is to relocate to S. Florida where I want to make my permanent home and settle.

I've had time to grow and figure myself out these past couple of years. After May 2010, I will find myself in a perfect position to pack up and ship out.

Wow...sounds as if you've thought this all out. And, believe me, figuring yourself out is half the battle. When you go back to school after having been out in the workforce, it's likely that you'll have a better idea of what you like doing and what you don't. What you're good at and what you're not.

Congratulations on knowing where you're headed. And...don't worry excessively about your FICO score while you're in school. It's a good thing to take a step back before you take a couple of steps forward. It's how we all grow.

Re: Credit Score Accuracy (+/-/=)

DI — Mon, 07 Dec 2009 22:09:03 GMT

Thanks!

Re: Credit Score Accuracy (+/-/=)

MMart078 — Tue, 08 Dec 2009 00:01:44 GMT

Know your math! At my school they do not play when it comes to math for business or enginerring majors. In my precalculus class 37/40 failed, and some people where there giving their forth try in the class. Math is important, also know what you want you want to do can be down with the finance degree. (A simluar situation) one of my friends are graduating in spring around 114k in debt, and they have a general business admin degree, but they do not know what they want to do.

Re: Credit Score Accuracy (+/-/=)

Anonymous — Tue, 08 Dec 2009 02:46:17 GMT

Hey DI. I'm currently finishing up an MBA and can give you some pointers (application, financing, schools, etc). Not all MBA programs are equal. Send me a PM if you want to talk more

Re: Credit Score Accuracy (+/-/=)

DI — Tue, 08 Dec 2009 02:50:01 GMT

@Anonymous wrote:
Hey DI. I'm currently finishing up an MBA and can give you some pointers (application, financing, schools, etc). Not all MBA programs are equal. Send me a PM if you want to talk more

Thanks ChemGuy. I'll definately PM you for more info.