I'd like my 100 point credit bump please

I have a question for you guys. Would the following be possible?

How about giving the people who are not defaulting on their home loans a 100 point bump on their credit scores?

The people who've been scooting along paying their bills on time are starting to feel like the redheaded step children. What about us? Everyones getting help around us in some form or another while we're just chugging along not causin' any trouble, doing what we do, payin' the bills, just movin' along. (southern diction there) So I'd like to be acknowledged by a 100pt credit bump. I guess you could say it'd be my gold star sticker for being a good student


Anyway, I'd like my 100pt credit bump please. Is this too much to ask?





[edit on 1-6-2010 by Bachrk]

Personally I don't see that it matters. Those who are defaulting on their mortgages are essentially ruining their credit, so whatever we have will be the new high score. Our home was our biggest purchase, and in this economy I don't see us upgrading to a bigger one, so I don't really worry about my credit score right now.

Originally posted by calmbutwary
Personally I don't see that it matters. Those who are defaulting on their mortgages are essentially ruining their credit, so whatever we have will be the new high score. Our home was our biggest purchase, and in this economy I don't see us upgrading to a bigger one, so I don't really worry about my credit score right now.

I think its more of a mental thing with me. I had horrible credit years ago and I worked my butt off to fix it so I could get the best home loan. Now that I got a great home loan I look over and see someone who has crap credit and in default getting a special refinance rate which in some cases is better than my interest rates. What tha' hell?

So yes I want positive acknowledgement. I want my gold star. I know it sounds ridiculous.


[edit on 1-6-2010 by Bachrk]

reply to post by Bachrk
It doesn't sound ridiculous IMO. I want my gold star too!

Why does the deadbeats who jonesed after the Joneses need to drag me down? I drive a rustic, ''all business, no pleasure" car, live within my means... Isn't my responsibility valued?

Your credit score is a rating on your past ability to pay. Other than that a credit score is purely fiction based. Those with lower incomes actually pay out a larger percentage of their income to satisfy their debts than those with higher incomes.

To answer the question of your thread, it's my personal belief that credit ratings should not be based on your ability to pay, but based on something completely different like each person's value of their individual security. This security is created in each of our names, (most people had this done for them as a child) and has a prepaid value based on how much one can produce in their life time.

Originally posted by belidged
Your credit score is a rating on your past ability to pay. Other than that a credit score is purely fiction based. Those with lower incomes actually pay out a larger percentage of their income to satisfy their debts than those with higher incomes.

To answer the question of your thread, it's my personal belief that credit ratings should not be based on your ability to pay, but based on something completely different like each person's value of their individual security. This security is created in each of our names, (most people had this done for them as a child) and has a prepaid value based on how much one can produce in their life time.

Wow thats a fantastic view you have there. I may have to pass that one around. It's simple and makes a lot of sense

Forget the credit score bump. How about a juicy tax credit to reward those not driving the nation's housing prices down by defaulting on thier home loans?

I do feel sorry for some honest people that got caught up in a bad situation... bad timing. But I also know greedy people who over-bought with no back-up plans who are walking away from loans and still living a nice lifestyle.

Holy moly man, that's what's wrong with the whole economy. Screw the credit card companies and the credit bureau. If you can't afford to pay for something outright, then chances are, you probably shouldn't be making that buying decision in the first place. Doesn't everyone get it? This is just one more way to get people to play the "game." After all, if one could actually afford to pay for something, what does a credit score really do for you? Oh yeah, it's that whole keeping up with the Joneses. "Really? Well MY credit score is THIS big."

Sorry man, I'm out. We're debt free and plan to stay that way. We only have one CC ( begrudgingly) and that's only for reservation like situations. Yes, I use a debit card, but my purchasing power is soley based on my TRUE ability to afford something.

Now if only more people would cut the cord, things might eventually take a turn for the better. Unfortunately, the course we're all on financially is a dead end.

reply to post by surfinguru


I do agree. We pay cash for most everything after learning the hard way how credit works but I can honestly say I didn't have a few hundred thousands under my mattress to buy my house so credit was my choice. I could have saved up for it and payed in cash I guess but then by the time I could afford the house I'd have one foot in the grave.

These days we owe no one anything except our home loan.

reply to post by Bachrk


Thats funny.

The banking industry owns you for life with that number. That would be giving up control. Probably never would happen.

Originally posted by GreenBicMan
reply to post by Bachrk

 

Thats funny.

The banking industry owns you for life with that number. That would be giving up control. Probably never would happen.

lol True but sadly someone's going to own me in some way as long as I'm here. Right now my kids own me. I do have a little bit of fight left in me but not enough to turn my back 100% on the establishment. Yep I'm a sheeple to some degree. Not proud about it but that's the truth.

Now I really thought this was a decent thread. Come on peeps give me a pitty star or something for the effort!


[edit on 2-6-2010 by Bachrk]

reply to post by Bachrk


Most of us are controlled I guess in one way or another.

Although I can't really take care of myself let alone kids so err....

Your FICO score is a measurement of how easily creditors are able to extract money from you, not how well you pay off your debts. Try paying off your credit cards every month and deny them interest. See what that does to your score. Trust me.

reply to post by dbates

Originally posted by dbates
Try paying off your credit cards every month and deny them interest. See what that does to your score. Trust me.

So not true. You can never pay a penny in interest on a credit card and still maintain a 800+ score. Trust me


Here is the general breakdown...

FICO is a publicly-traded corporation (under the ticker symbol FICO) that created the best-known and most widely used credit score model in the United States. Here is a percentage breakdown of a FICO score:

•35% - Payment History
•30% - Debt Ratio
•15% - Length of Credit History
•10% - Types of Credit
•10% - Number of Credit Inquiries

en.wikipedia.org...

So... (as much as possible)

Pay your bills on time
Use only about 25-30 pct of your total available credit.
Maintain credit accounts. Don't keep changing credit cards
Have more than one type of credit account... not just credit cards
Limit numberous credit inquiries