College class about the credit score

Anonymous · ‎01-28-2008

OMG! Hahahahahahahahahahahaha llecs! To funny.

Post of the day!

Anonymous · ‎01-28-2008

The one issue I have is not knowing how much closing positive accounts can hurt.

Question is - why doesn't FICO use the date that the CRA opened your file as oldest date for aging purposes?

My TU file, for example, was opened 2/1985 when I applied for a Mellon Bank card while I was in college. I subsequently closed this card a couple years later when I upgraded to Citi and AMEX. Now, obviously, the Mellon card has fallen off my CR's and I lost all that history.

Can anyone comment on why this date is not used? I know all the CRA's keep it in their system. It is not accurate to say that my credit history is less than 1985, yet that is how my FICO's are calculated.

Anonymous · ‎01-28-2008

llecs wrote:

The moderators are tenured professors.

I love it. We get the summers off!

Anonymous · ‎03-12-2008

Hi everyone, I got great news. I found out there is a one unit internet only class at the U of MN and it has been there since Fall of 2004. I began researching into this because I want to develop a credit class (3 units) that eventually will spread to all colleges. I like the reply Byrdman gave on message #6, and what I want to do is expand the information in the 1 unit class by researching perhaps with the three credit bureaus or other credit experts. This is just the start of development, but I found a grant for creating community services so this class might be able to be developed by next winter.

Anonymous · ‎03-12-2008

As a HS freshman, all of us were required to take a semester of Life SKills...it icovered things like, checking accounts, savings, credit card usage/responsibility, leases, job apps & resumes...etc.....was a great class...now if I just hadnt had gotten so forgetful in my late 20's things would have been great....

Message Edited by madameozzie on 03-12-2008 02:55 PM

Anonymous · ‎03-12-2008

I forgot to say that it isn't very definite on how the credit class is going to be developed so any information about other similar classes and programs will be helpful and I will try to continue to post more information if people are interested. Also feel free to email me anything about this. Thanks.

Dawn · ‎03-12-2008

Oh ... wow! I wish it were as simple as being the parents' job. I suppose two out of three kids getting the message is encouraging. But ... no matter what we do ... some kids just aren't gonna listen and are going to attend the School of Hard Knocks no matter what we do.

And ... rorug2000, I wish you luck with your endeavor. It sounds like a wonderful project and would definitely be beneficial to the young adults of our world. The more sources of exposure they have to this important information ... the better.

Message Edited by Dawn on 03-12-2008 07:17 PM

Anonymous · ‎03-12-2008

I REALLY like sunrise's idea: "Univ. of Myfico!!! Where can I get my t-shirt?"

I'd buy one! pink or teal please.

(do the Admins ever read these posts?)

Anonymous · ‎03-13-2008

rorug2000 wrote:
I forgot to say that it isn't very definite on how the credit class is going to be developed so any information about other similar classes and programs will be helpful and I will try to continue to post more information if people are interested. Also feel free to email me anything about this. Thanks.

I can tell you that there are some high school-level homeschool courses on Consumer Math that include credit, insurance, etc. I homeschool my son and plan to cover consumer math next year. Much more useful than Algebra 2!

If you want me to point you in the general direction, feel free to email me.

Junejer · ‎03-13-2008

@Anonymous wrote:
Hi everyone, I got great news. I found out there is a one unit internet only class at the U of MN and it has been there since Fall of 2004. I began researching into this because I want to develop a credit class (3 units) that eventually will spread to all colleges. I like the reply Byrdman gave on message #6, and what I want to do is expand the information in the 1 unit class by researching perhaps with the three credit bureaus or other credit experts. This is just the start of development, but I found a grant for creating community services so this class might be able to be developed by next winter.

rorug, that is awesome. Way to grab the bull by the horns and be proactive. I wish you all the best in this worthy endeavor.