What YOU said is common sense, but I think there is a lot mentioned in the article that usually comes to play AFTER a person has gotten themselves into credit card trouble…for example, the article mentions how you shouldn’t get rid of old credit cards just to get a new one with a lower interest rate or a prettier picture on the card…the BASICS which you speak of yes, we all know, but the sometimes hidden agenda of credit scoring companies isn’t always known until after the fact.
And for the love of god, get over yourself. you sit and post like you are somebody important. you post on IJ for crying outloud. wowie!
What was said below is true, but credit card companies are just as bad as insurance comapanies. Minorities with the same credit score as whites get higher % rate loans than their white counter-part. Isn’t a 700 score the same no matter what the color of your skin???
KLS,
I could not agree you more about “no child left behind.” It so evil that we force teachers to teach at a higher level. The unions and the teachers that they represent are much more important than our kids. How dare President Bush raise the standards for our teachers to teach. The heck with the kids, what we need if more money for the unions so we can buy more politicians.
The problem, Hawaii, is that while teachers may be utilizing more challenging cirriculum, the children who aren’t rising to the occasion are being passed through to the next grade regardless.
Sorry to inform you that your interpretation of my point was off-base.
My problem with “No Child Left Behind” is that it isn’t being used to it’s intended purpose.
Some kids simply aren’t as smart as others. The same with adults. While the concept behind credit and debt-to-income ratios may be simple to you, it is NOT simple to everyone. Plus, a lot of them can’t help it. People are typically born with a certain level of intelligence. Being slow isn’t necessarily a choice.
KLM, I do understand what you are saying. We just accept the bigotry of low expectations, as peole of certain races are not capable of acheiving at the level of other races. We should never challenge ourselves to do better for these kids as they are hopeless. It’s just takes too much to improve these kids lives, so let’s neglect them. Go unions go, screw the kids, unions and their agenda is far more important.
Yes, it is common sense to repay your debts. That’s easy…
1) But what about accepting some of the credit card deals that are out there. A local store offers a 10% discount on your first purchase. You go out and buy say $1,000 worth of clothes and save $100. You then pay off the $900 on the card and cancel the card. Does this impact your credit score?
2) How about when you have 10 credit cards, each with $10,000 limit. You only use three and these are maxed out ($30,000 debt). You decide to cancel the 7 cards that you don’t use to eliminate the tempation to add more debt. Is that good or bad?
Answers…
1) You better beleive that can adversely impact your credit. Almost any time you establish a new line of credit you score goes down. And while you might think cancelling teh card would instantly remove that line of credit from your score… it doesn’t.
2) While long term this might be a good move, short term it is a bad move. You’ve gone from a 30% debt to limit ration to a 100% debt to limit ratio.
Bottom line is that from what I have learned about credit scoring, there are no quick fixes and that you need to seriously consider the cause and effects of adding or removing lines of credit. I honestly think the key is to get credit early, keep it current and then don’t open new lines of credit except for homes or cars.
HawaiiDuke, I really don’t get where you’re coming from.
First, why the hateful sarcasm?
Second, where did I mention race?
Third, where did I say we should neglect the slower kids? They shouldn’t be neglected, but they shouldn’t be passed to the next grade before they’re ready either.
I also never brought up unions or having a low expectancy of others.
You’re the one who expressed frustration with the fact that not all people understand the concept of debt and credit. I only pointed out that what is simple to some people is not simple to others. The solution to that is patience and tolerance… taking time to explain it to them. Perhaps explaining to them on several occasions and using different types of examples.
Do you currently live in Hawaii or are you from there and living somewhere else? If you do live there, I hope you’ll take some time today, as I’m sure you have on other occasions, to get out and enjoy the beauty of your state.
This is just my observation, but you seem very stressed. Maybe a walk on the beach would be relaxing for you? I sincerely mean that. I know it would be relaxing for me.
Hey Felix, where on a credit card app does it ask for your race? I have never seen that on there. Do you really think the CC companies look at names to determine their rates? Let’s see, Bill, yeah, he get 11.9%, then there is Raul, he gets 14.9 becuase he sounds italian, how about Serge, well, he must be Russian, so his rate will be 20%. Then theres Shaniqway, must be from Oakland, ok, that rate will be 25%. Don’t forget about Lars, a a good Scandinavian, he should be pegged at 7.9%. See how stupid you sound?
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What YOU said is common sense, but I think there is a lot mentioned in the article that usually comes to play AFTER a person has gotten themselves into credit card trouble…for example, the article mentions how you shouldn’t get rid of old credit cards just to get a new one with a lower interest rate or a prettier picture on the card…the BASICS which you speak of yes, we all know, but the sometimes hidden agenda of credit scoring companies isn’t always known until after the fact.
And for the love of god, get over yourself. you sit and post like you are somebody important. you post on IJ for crying outloud. wowie!
What was said below is true, but credit card companies are just as bad as insurance comapanies. Minorities with the same credit score as whites get higher % rate loans than their white counter-part. Isn’t a 700 score the same no matter what the color of your skin???
KLS,
I could not agree you more about “no child left behind.” It so evil that we force teachers to teach at a higher level. The unions and the teachers that they represent are much more important than our kids. How dare President Bush raise the standards for our teachers to teach. The heck with the kids, what we need if more money for the unions so we can buy more politicians.
The problem, Hawaii, is that while teachers may be utilizing more challenging cirriculum, the children who aren’t rising to the occasion are being passed through to the next grade regardless.
Sorry to inform you that your interpretation of my point was off-base.
My problem with “No Child Left Behind” is that it isn’t being used to it’s intended purpose.
Some kids simply aren’t as smart as others. The same with adults. While the concept behind credit and debt-to-income ratios may be simple to you, it is NOT simple to everyone. Plus, a lot of them can’t help it. People are typically born with a certain level of intelligence. Being slow isn’t necessarily a choice.
Understand what I’m saying better now?
KLM, I do understand what you are saying. We just accept the bigotry of low expectations, as peole of certain races are not capable of acheiving at the level of other races. We should never challenge ourselves to do better for these kids as they are hopeless. It’s just takes too much to improve these kids lives, so let’s neglect them. Go unions go, screw the kids, unions and their agenda is far more important.
Yes, it is common sense to repay your debts. That’s easy…
1) But what about accepting some of the credit card deals that are out there. A local store offers a 10% discount on your first purchase. You go out and buy say $1,000 worth of clothes and save $100. You then pay off the $900 on the card and cancel the card. Does this impact your credit score?
2) How about when you have 10 credit cards, each with $10,000 limit. You only use three and these are maxed out ($30,000 debt). You decide to cancel the 7 cards that you don’t use to eliminate the tempation to add more debt. Is that good or bad?
Answers…
1) You better beleive that can adversely impact your credit. Almost any time you establish a new line of credit you score goes down. And while you might think cancelling teh card would instantly remove that line of credit from your score… it doesn’t.
2) While long term this might be a good move, short term it is a bad move. You’ve gone from a 30% debt to limit ration to a 100% debt to limit ratio.
Bottom line is that from what I have learned about credit scoring, there are no quick fixes and that you need to seriously consider the cause and effects of adding or removing lines of credit. I honestly think the key is to get credit early, keep it current and then don’t open new lines of credit except for homes or cars.
HawaiiDuke, I really don’t get where you’re coming from.
First, why the hateful sarcasm?
Second, where did I mention race?
Third, where did I say we should neglect the slower kids? They shouldn’t be neglected, but they shouldn’t be passed to the next grade before they’re ready either.
I also never brought up unions or having a low expectancy of others.
You’re the one who expressed frustration with the fact that not all people understand the concept of debt and credit. I only pointed out that what is simple to some people is not simple to others. The solution to that is patience and tolerance… taking time to explain it to them. Perhaps explaining to them on several occasions and using different types of examples.
Do you currently live in Hawaii or are you from there and living somewhere else? If you do live there, I hope you’ll take some time today, as I’m sure you have on other occasions, to get out and enjoy the beauty of your state.
This is just my observation, but you seem very stressed. Maybe a walk on the beach would be relaxing for you? I sincerely mean that. I know it would be relaxing for me.
Namaste.
~KLS
Hey Felix, where on a credit card app does it ask for your race? I have never seen that on there. Do you really think the CC companies look at names to determine their rates? Let’s see, Bill, yeah, he get 11.9%, then there is Raul, he gets 14.9 becuase he sounds italian, how about Serge, well, he must be Russian, so his rate will be 20%. Then theres Shaniqway, must be from Oakland, ok, that rate will be 25%. Don’t forget about Lars, a a good Scandinavian, he should be pegged at 7.9%. See how stupid you sound?
Common sense? Common sense is knowing the difference between “there” and “their”, idiot.
Actuall, common sense has nothing to do with spelling or grammer, especially with American English