topic Re: RENT / OWN / OTHER ??? in Credit Cards

RENT / OWN / OTHER ???

aftermath — Mon, 16 Jun 2008 23:53:50 GMT

RENT / OWN / OTHER

Could anyone explain which answer looks best in the eyes of the CCC? And why?

I could technically fit into any of the categories.

Message Edited by aftermath on 06-16-2008 04:53 PM

Re: RENT / OWN / OTHER ???

Anonymous — Tue, 17 Jun 2008 00:34:01 GMT

aftermath wrote:
RENT / OWN / OTHER

Could anyone explain which answer looks best in the eyes of the CCC? And why?

I could technically fit into any of the categories.

Message Edited by aftermath on 06-16-2008 04:53 PM

I think owning a house would look better to a CCC 'cause if you default and never pay they see that you have an asset they could possibly put a lien on and get their money back. If you rent you don't have an asset. And other...well that could possibly mean anything from live at home with mom (which I'm doing at the moment) to sleeping on someone's couch. I don't see how this would grant/deny you credit if you have a decent FICO.

Re: RENT / OWN / OTHER ???

Anonymous — Tue, 17 Jun 2008 04:03:00 GMT

They can't lien a house unless you put the house up for the debt. Credit cards are unsecured debt.

Re: RENT / OWN / OTHER ???

Creditaddict — Tue, 17 Jun 2008 16:14:16 GMT

I don't think it matters unless they ask how much you pay, then it will calculate into your income vs debt.