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Credit Score
- Thread starter livefast
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Normal debt like college loans and a reasonable amount of other debt are not a problem, so no worries there. Things that indicate problems like bankruptcy, bad history of defaulting, repossessions, collections agencies, evidence of gambling problems and other kinds of wanton financial irresponsibility are red flags that will cause DSS to scrutinize an individual a bit more.
Brett
Brett
Actually, your credit rating can go down if you have no debt. The way to make it go up is having debt and paying it on time. A good credit rating means "you pay your debts", where as no credit rating means, "we dont know". That's why alot of people say college students should get a credit card and use it for things like gas and groceries, or get a loan for a car at some point. Those things are generally easier to get (credit cards are a joke to get these days, and cars can be repossessed, so theres less of an issue for people with no credit history). If you read through the EPSQ, they ask you about debts that are delinquent by a certain amount of time (I forget if its around 60 or 90 days). These things show up on your credit report in big bold print.
It's probably not a bad idea to order a copy of your credit report anyway. It's a good way to understand exactly what other people are looking at, as well as keep track of your assets. I know the first time I got mine, I noticed an account listed that I had forgotten I even had.
It's probably not a bad idea to order a copy of your credit report anyway. It's a good way to understand exactly what other people are looking at, as well as keep track of your assets. I know the first time I got mine, I noticed an account listed that I had forgotten I even had.
If you aren't ordering your credit report from each of the three agencies once per year, then you are wrong.mkoch said:
I do mine every January from the big three.
I know you aren't paying for those Steve. For those that don’t know, recent laws give you a free copy of your credit report once a year from each of the reporting agencies. You can go to www.annualcreditreport.com/ and get yours.
I'm not? That's interesting. My credit card would say otherwise. For about $36, you can get a report of all three. Might as well put this in your budget.pilot_man said:
I think that the theory of having to buy a bunch of crap on credit to get a good score is a myth.
I have only bought one thing on credit (a house) and during the lending process my credit score was in the excellent category just from paying regular bills on time.
I have only bought one thing on credit (a house) and during the lending process my credit score was in the excellent category just from paying regular bills on time.
When I get mine, I just do a quick search and find a site that offers a "trial credit monitoring service". About 2/3 of these include your actual credit score somewher ein the service. You have 30 days to cancel, which they intentionally make a pain to do, usually requires a phone call to a number that takes calls 5 hours a day. But it's free, and it gives you the same information. Only catch is its only from one of the big 3 bureaus, and you don't have a choice as to which one. To get a proper one from all three without the hassle, I'd say its probably worth the 30 or so bucks a year, but for the time being I'm a poor college student that will just have to make due.
This is kind of my point. Pay the fvcking money and get your report (along with your score). I think that 30 or even 36 dollars per year is pretty cheap insurance to make sure everything is A-ok with your credit.mkoch said:
That's all fine. All I was saying is you can get them for free. All 3 of them at the same time. No you don't get the scores, but you don't really need those unless you are making a major purchase. And having a few lines of credit that you don’t use is better for your score than not having the credit at all.
Edit: Steve if you still want to pay, go ahead, it doesn't bother me.
Edit: Steve if you still want to pay, go ahead, it doesn't bother me.
Background investigators will ask you about any cash transactions over the tripwire limit $10k.
For a cash transaction over $10k, the bank and you have to fill out a gov't required form which OPM's financial center can see via your SSN.
Lots of $9k withdrawls and deposits...no problem. One $10k deposit, lots of questions.
They're looking to see that you are not receiving payments or making payments as part of a blackmail or espionage ring.
For a cash transaction over $10k, the bank and you have to fill out a gov't required form which OPM's financial center can see via your SSN.
Lots of $9k withdrawls and deposits...no problem. One $10k deposit, lots of questions.
They're looking to see that you are not receiving payments or making payments as part of a blackmail or espionage ring.
Brett327 said:
Well, he does bring up a good point about paying bills. Having utilities in your name helps a bit, and things like cell phones run a credit check in advance (your security deposit varies depending on how good your credit it) so they help you a bit, though not quite as well as something like buying a house or a car. However, for a younger person (e.g. high school or college students) things like that aren't always an option. If you pay your bills on time, by the time you're 25 or so your credit will be pretty good. But if you are a kid and trying to build credit early from scratch, the credit card is the easiest (albeit not the only) way to do it.
Not sure if this helps at all or not, but if you have a Providian credit card, they have a summary of your bi-monthly FICO score posted under your account on their website. Shows how it has fluctuated over the past 12 months, revolving credit, inquiries, derogatory items, not to mention it's a pretty good Visa card.