May Credit AMA [Ask Me Anything] live with user @Baller4life

[baller4life]

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@Anonymous wrote:

baller4, what are some goals you hope to accomplish as Community Leader? We are all glad to have you here in that role

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heyyyyyy humu. I just want to continue to try to be as helpful as I can to others. I had so much help starting out from MJ,Irish,Finstar and so many others. I just try to pay it forward.

[Anonymous]

@Baller4life,

Are there somethings on the board that you don't like?  If so, how would you go about changing it if you were given the opportunity?

[elim]

Hugs Baller!

Questions:  How has your credit journey affected your wealth?   Do you find yourself making better financial decisions today than you did before you amassed your limits?    What advice would you give new members to avoid getting into CC debt with their new cards?

[baller4life]

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@Anonymous wrote:

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@baller4life wrote:

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@Anonymous wrote:

Welcome Baller, we're delighted to have you here tonight ....... I have been reading a lot of your post and enjoy them very much. Who is going forget the Discover Train? No body in this forum .. The only question that I have for you is more for the new members of forum. What can you tell us about your succes? What was your biggest  goal/achievement?

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My biggest success has been Navy Federal Credit Union. I currently have almost $60K in credit with them alone. And that was obtained even before I had clean files. I cannot encourage enough those that are eligible to join NFCU. They are aboslutely the best thing you could possibly do for your portfolio.

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Navy is very popular on here.. I hope they thank myFICO for the business it has brought them..

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Haha they certainly should. Myfico has sent them ALOT of business!! LOL

[baller4life]

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@myjourney wrote:

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@baller4life wrote:

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@ddemari wrote:
I remember your success with boa! Sounds like you have defintiey come a long way! What is your #1 goal card right now?

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CSP and ugggghhh I need to garden till 2018 to be eligible! LOL

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And she has a GC support system to get CSP

24/7 monitoring 

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I'm sure I do!! 

[baller4life]

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@Anonymous wrote:

@baller4life,

Are there somethings on the board that you don't like?  If so, how would you go about changing it if you were given the opportunity?

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I don't like the obsession with Comenity SCT. Although it has calmed down quite a bit the past few months since the AA's started. I cringe every time I see it mentioned or encouraged because I feel like not only will loading up on those SCT accounts keep you in toy limit hell, but now Comenity has been on the warpath shutting alot of people down. I just feel rebuilders can do so much better than SCT cards.

[Anonymous]

Another question that I always ask... What do you think of the SCT?  Please be candid with your answer..

[myjourney]

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@baller4life wrote:

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@Anonymous wrote:

@baller4life,

Are there somethings on the board that you don't like?  If so, how would you go about changing it if you were given the opportunity?

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I don't like the obsession with Comenity SCT. Although it has calmed down quite a bit the past few months since the AA's started. I cringe every time I see it mentioned or encouraged because I feel like not only will loading up on those SCT accounts keep you in toy limit hell, but now Comenity has been on the warpath shutting alot of people down. I just feel rebuilders can do so much better than SCT cards.

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Baller,

What would you say to the person that ask for advice and you tell them no don't do it constantly but they continue to app weather approved or denied until they accumalate unheard of amounts of HP's and toy limits?

[Appleman]

My parents just joined NFCU today so that I can join. Will see what they can do for me, currently have USAA and PenFed and will now have NFCU.

Thanks for sharing and I look forward to joining NFCU.

[baller4life]

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@elim wrote:

Hugs Baller!

Questions:  How has your credit journey affected your wealth?   Do you find yourself making better financial decisions today than you did before you amassed your limits?    What advice would you give new members to avoid getting into CC debt with their new cards?

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Building my card portfolio has definitely had an impact on my finances and how I view them. I am more conscious now of saving for the future and building an emergency fund. I have worked too hard to allow anything to derail my success. So I wanted to build cash reserves and investments at the same time I built my credit. They go hand in hand. I would advice others not to fall into a false sense of security as you build your limits. Credit card limits does not equal wealth. It is not our money. It belongs to the banks.  And the same way they give it to you, they can take it away at any moment. You have to make sure you are financially secure independently of how much you have in available credit.