Good Sam Club Open Roads Forum: Around the Campfire: Credit Score
Open Roads Forum Already a member? Login here.   If not, Register Today!  |  Help

Newest  |  Active  |  Popular  |  RVing FAQ Forum Rules  |  Forum Posting Help and Support  |  Contact  

Search:   Advanced Search

Search only in Around the Campfire

Open Roads Forum  >  Around the Campfire  >  General Topics

 > Credit Score

Reply to Topic  |  Subscribe  |  Print Topic  |  Post New Topic  | 
Page of 7  
Prev  |  Next
down home

south

Senior Member

Joined: 06/01/2008

View Profile



Good Sam RV Club Member

Offline
Posted: 12/14/20 06:34am Link  |  Quote  |  Print  |  Notify Moderator

You either have credit or you don't buy or rent or get utilities.
The days of cash is king and the dollar the common exchange are being taken away.They seek to remove all forms of currency worldwide.
All your income and fiances to be monitored and allowed or rejected.
China is in the lead with their Social Credit score.
Designed for Wall Street Financial business, to encourage the use of credit and get away from cash. I remember the seminars in the early seventies, when none of my customers used credit cards. Our first one was at KMart and interest capped at 18% buy state law and Sears too. They both withdrew their cards at one time when VISA and K Street, created private Legislation ,and Delaware and othrr places said come here and incorporate and we will let you charge whatever your want...and after several suits the Comptroller of the Currency declared it had sole authority over credit cards and let this continue, forbidding other states from regulating credit cards, unless, protecting their Citizens interests unless incorpotaed in their state!Then they formed the three principal credit unions for profits paid by subscribers, to look to exclusively the Credit Card Biggies now only two or three interests to promote the use of credit cards, principally VISA which engineered the whole scheme and others signed on....and bought congressional rubber stamp freezing our our elected Governments' ability to look after our interests. Then the Mandatory Binding Arbitration Law...which removed Citizens rights to seek protections from our court system in Credit and all Business contracts. They write the Contracts and Enforce them too violating the basic tenets of common and of Contract Law. Jut by doing business with them you agree to this so ruled in the first case in Birmingham at a hospital where a Nurse refused to give up here ORDINARY PROTECTED Rights and was fired and the Judge decreed that she agreed to it even though refusing to sign by just being employed there. Now the push is to mandate the use of Credit Cards in all economic exchanges. where the Credit Cards get a percentage on each exchange, or dollar spent! We find that some businesses will no longer accept cash or checks.
And tracking of everyone's lives everyone's fiances...to prevent crimes, economic, cheating on taxes, by IRS and others is policy.
I don't believe anyone can say this is politics in any way. It is truth.
Without writing a book and putting fine points on things this is the perhaps not the best composition but the truth still.

* This post was edited 12/14/20 06:46am by down home *

georgelesley

Tennessee

Senior Member

Joined: 07/29/2010

View Profile



Good Sam RV Club Member

Offline
Posted: 12/14/20 07:34am Link  |  Quote  |  Print  |  Notify Moderator

Guy Roan wrote:

The way I look at it is: if you have to worry about, or even care about your credit score, you are living above your means!

Guy


Sorry Guy but I do not agree. I check our cards and bank account and a quick peek at the credit scores every few days just to make sure there is no unexplained funny business going on. Several times I have discovered charges for “buyers clubs”, etc, that we did not authorized and immediately got them removed by doing this.

We are debt free and have frozen our credit scores, and are just doing what we can to stop identity fraud. Without frequent checking you can be compromised and not know it.


George 20 yr USAF & Lesley

way2roll

Wilmington NC

Senior Member

Joined: 10/05/2018

View Profile


Offline
Posted: 12/14/20 08:14am Link  |  Quote  |  Print  |  Notify Moderator

georgelesley wrote:

Guy Roan wrote:

The way I look at it is: if you have to worry about, or even care about your credit score, you are living above your means!

Guy


Sorry Guy but I do not agree. I check our cards and bank account and a quick peek at the credit scores every few days just to make sure there is no unexplained funny business going on. Several times I have discovered charges for “buyers clubs”, etc, that we did not authorized and immediately got them removed by doing this.

We are debt free and have frozen our credit scores, and are just doing what we can to stop identity fraud. Without frequent checking you can be compromised and not know it.


The other point(s) I would make is, I find it extremely difficult to believe one has never leveraged credit in their life. Always paid cash for everything. As someone who has been working in the banking industry for 26 years, there are often very smart reasons for leveraging credit and not using cash. If you can purchase something like a house at 3-4% interest and invest your cash for a conservative 6-8% interest gain, you net 2-4% profit. This is not living beyond your means. This is smart financial planning. I know very few young people (well I frankly don't know any) that could pay cash for a house out of school. Heck I don't know anyone that could pay cash for a house. The length of your dollar is pretty short with rentals as opposed to purchasing power of a house. So again, leveraging credit for a long term gain makes the most sense.

* This post was edited 12/14/20 08:27am by way2roll *


2020 F350 STX 6.7L Turbo Diesel
2020 FR Cedar Creek Silverback 29rw

Moderator

Tennessee

Moderator

Joined: 01/19/2004

View Profile



Posted: 12/14/20 08:17am Link  |  Quote  |  Print  |  Notify Moderator

Just want to inject, with one exception that has been deleted, the posts in this thread are a fairly good example how people may disagree on a topic without being 'disagreeable'. Let's keep it that way. Continue on and be safe out there. [emoticon]

cptqueeg

Idaho

Senior Member

Joined: 04/11/2020

View Profile



Posted: 12/14/20 08:29am Link  |  Quote  |  Print  |  Notify Moderator

way2roll wrote:

The other point(s) I would make is, I find it extremely difficult to believe one has never leveraged credit in their life. Always paid cash for everything. As someone who has been working in the banking industry for 26 years, there are often very smart reasons for leveraging credit and not using cash. If you can purchase something like a house at 3-4% interest and invest your cash for a conservative 6-8% interest gain, you net 2-8% profit. This is not living beyond your means. This is smart financial planning. I know very few young people (well I frankly don't know any) that could pay cash for a house out of school. Heck I don't know anyone that could pay cash for a house. The length of your dollar is pretty short with rentals as opposed to purchasing power of a house. So again, leveraging credit for a long term gain makes the most sense.


Yeah I'm far too conservative to borrow money to put into other investments, have fun with it though. We saved money and then invested it however. It prob took longer to get where we eventually got but I'm good with that. We survived multiple layoffs, 9/11, the Great Recession, and now hopefully the Pandemic.

way2roll

Wilmington NC

Senior Member

Joined: 10/05/2018

View Profile


Offline
Posted: 12/14/20 08:58am Link  |  Quote  |  Print  |  Notify Moderator

cptqueeg wrote:

way2roll wrote:

The other point(s) I would make is, I find it extremely difficult to believe one has never leveraged credit in their life. Always paid cash for everything. As someone who has been working in the banking industry for 26 years, there are often very smart reasons for leveraging credit and not using cash. If you can purchase something like a house at 3-4% interest and invest your cash for a conservative 6-8% interest gain, you net 2-8% profit. This is not living beyond your means. This is smart financial planning. I know very few young people (well I frankly don't know any) that could pay cash for a house out of school. Heck I don't know anyone that could pay cash for a house. The length of your dollar is pretty short with rentals as opposed to purchasing power of a house. So again, leveraging credit for a long term gain makes the most sense.


Yeah I'm far too conservative to borrow money to put into other investments, have fun with it though. We saved money and then invested it however. It prob took longer to get where we eventually got but I'm good with that. We survived multiple layoffs, 9/11, the Great Recession, and now hopefully the Pandemic.


Amen to that. Nothing wrong at all in being risk inhibitive. It make take longer but you insulate yourself from some of the things like you mention. With risk comes reward, but it can also be dangerous and I wouldn't ever pretend that's not the case.

cptqueeg

Idaho

Senior Member

Joined: 04/11/2020

View Profile



Posted: 12/14/20 09:06am Link  |  Quote  |  Print  |  Notify Moderator

Guy Roan wrote:

The way I look at it is: if you have to worry about, or even care about your credit score, you are living above your means!

Guy


Yes, I understand what you're saying, but in real life, buying houses and cars, surviving pandemics, medical issues, college educations, and general downturns in life require *most* of us to tap credit to one degree or another. *Most* of us are also doing things like getting jobs and insurances that also look at credit scores. While it's good to be you and ignore your credit it's just not possible for *most* of us to blindly ignore our credit.

As I said earlier you should lock up your credit so others can't take advantage of you. The locks will protect you so you can continue as you are now, but with real security. Right now with your name, location, and finacial condition posted on the interwebz you present a nice target.

rk911

DuPage County

Senior Member

Joined: 05/30/2004

View Profile



Good Sam RV Club Member

Offline
Posted: 12/14/20 03:08pm Link  |  Quote  |  Print  |  Notify Moderator

Pawz4me wrote:

Guy Roan wrote:

The way I look at it is: if you have to worry about, or even care about your credit score, you are living above your means!

Guy


My experience is the polar opposite. The people I know who keep the closest watch on their credit scores and who put some thought into improving them (if possible) are the most financially responsible and financially literate people. Most are the millionaire-next-door types. They understand the reality of the world in which they live.


well the reality of the world that we live in makes credit scores irrelevent. diff'rent strokes.


Rich
Ham Radio, Sport Pilot, Retired 9-1-1 Call Center Administrator
_________________________________
2016 Itasca Suncruiser 38Q
'46 Willys CJ2A
'03 Jeep Wrangler TJ
'10 Jeep Liberty KK

& MaggieThe Wonder Beagle

Guy Roan

Florida

Senior Member

Joined: 09/04/2012

View Profile


Offline
Posted: 12/14/20 04:49pm Link  |  Quote  |  Print  |  Notify Moderator

After this my final post on this subject, I won't reply any more, but I will make one last comment.
I completely understand how younger people and people with families and college age children need credit and worry about their scores, but people well into their retirement who still need credit, (and I am not talking about credit cards which I have several of) must be living over their heads and I feel sorry for them, because they will never get out from under.
With that said, I can only add. It is a fantastic feeling to be debt free!

Guy

* This post was edited 12/14/20 04:59pm by an administrator/moderator *

Pawz4me

North Carolina

Senior Member

Joined: 06/05/2007

View Profile



Posted: 12/14/20 04:59pm Link  |  Quote  |  Print  |  Notify Moderator

rk911 wrote:



well the reality of the world that we live in makes credit scores irrelevent. diff'rent strokes.


My MIL's friend, who is 85 yo and well off, thought the same thing. Until a few months ago, when almost simultaneously she found that she couldn't change cable TV providers or auto insurance companies due to lack of a credit score. Now granted no one really needs cable TV, but we (me and my DH) do need auto insurance. And we've found that changing companies every two/three years saves us a significant amount of money. I wish we didn't have to do that--it's a pain in the rear to do the comparison--but (again) it's the world we live in, and we prefer to have choices and save lots of money.


Me, DH and Yogi (Shih Tzu)
2017 Winnebago Travato 59K

Reply to Topic  |  Subscribe  |  Print Topic  |  Post New Topic  | 
Page of 7  
Prev  |  Next

Open Roads Forum  >  Around the Campfire  >  General Topics

 > Credit Score
Search:   Advanced Search

Search only in Around the Campfire


New posts No new posts
Closed, new posts Closed, no new posts
Moved, new posts Moved, no new posts

Adjust text size:




© 2021 CWI, Inc. © 2021 Good Sam Enterprises, LLC. All Rights Reserved.