Just got approved for Cap1 CC!

[backtoschool]

The first paragraph explains it all. You keep harping on this house thing like you are using it as an excuse to get credit. Who in the world told you manual underwriting would make a 2-3% higher rate? You got some horribly wrong info there. If you want credit cards, that's fine....knock yourself out, I ain't ya Daddy. Just don't be surprised if you wind up taking some nice vacations again.

I never said one time that my NEW lifestyle is the only right way. I just got finished doing it the credit card way. That didn't work so well, so I am trying something new. Do people read this stuff or do they see something, go crazy and then type. There is no (wait, let me get the color going) FEAR of credit. I am not scared of credit. I have a mortgage, I have student loans that I am still paying.....I am not scared of credit. I am not cowering in the corner because my home has a mortgage.

Why assume I can't handle credit? And why assume I am "making excuses". Those are judgmental words LSUTiger. Post discharge I have over $20k in savings in the bank and my only debt is my student loan debt and a car that I could pay off but have a loan for so that I can re-establish my credit.

You are not the only one with a "new" money lifestyle. You are also not the only one rebuilding your assets LSUTiger32. In fact, I think everyone on this thread is has a new lifestyle and is rebuilding assets.

And, in my opinion, you have said repeatedly that your way is the only way. I simply disagree. No offense taken.

[LSUTiger32]

Why assume I can't handle credit? And why assume I am "making excuses". Those are judgmental words LSUTiger. Post discharge I have over $20k in savings in the bank and my only debt is my student loan debt and a car that I could pay off but have a loan for so that I can re-establish my credit.

You are not the only one with a "new" money lifestyle. You are also not the only one rebuilding your assets LSUTiger32. In fact, I think everyone on this thread is has a new lifestyle and is rebuilding assets.

And, in my opinion, you have said repeatedly that your way is the only way. I simply disagree. No offense taken.

I am not assuming anything, I am just trying to understand why you keep making excuses about getting a mortgage without credit. First it was you can't, then the rate is going to be 3% higher. Just trying to understand. By the way try reading.....I said L I K E you are making excuses.

And sorry, if you are right back into credit cards you do NOT have a new lifestyle and you are only rebuilding your ability to get back into debt. What did you learn from this experience, that it is easy to file BK if something like losing your job happens again?

[LSUTiger32]

LOL! I just looked at another thread and your credit score is already back up to 680 and you are worried about building credit with credit cards? A 620 to get FHA is plenty and I have seen as low as 580 get FHA.

Too funny.

[backtoschool]

LOL! I just looked at another thread and your credit score is already back up to 680 and you are worried about building credit with credit cards? A 620 to get FHA is plenty and I have seen as low as 580 get FHA.

Too funny.

I am not sure why you are singling me out for your judgment LSUTiger. I am done debating this with you. You have hijacked this thread in my opinion.

Yes it is true, that my credit scores are around 680 now. They would not have been that without re-establishing credit.

In any case I think at this point we should just agree to disagree.

[ForumReader]

I agree with BTS' posts. How the person views credit and rebuilding one's credit is his/her business.

By the way, I was approved for a C1 card and plan to get a small car loan with a downpayment for a good used car for my daughter to have. I have a desire to buy a house someday so I need to rebuild my credit--wisely and..

no more divorces

[debtnomore]

Yeah I can't handle them, that's why. I backed my statements with FACTS that happened since I have filed. You back yours with what ifs. Enough said.

the plural of antecdote is not data

what happened to you personally isn't the general rule AND you are talking about what your current situation is shortly after bk...i'm talking about long-term

stop trolling

[debtnomore]

Wow, there is so much in here that is just plain scary I don't know where to start.

1. Credit cards = debt. If you use them, you have debt. Whether it is for 10 days or 10 years it is debt. Good try though.

2. You hate debt but you are worried to death about your I LOVE DEBT score. Wow.

3. You love savings and you are paying enough interest to banks to service a third world country. Awesome. Good luck with that strategy.

1) Credit Cards are not debt. You said it yourself right here that if you USE them then you have debt. Credit Card balance is debt; having an open credit line is not; I have an $1800 limit on a Firestone card and I've never been to Firestone in my life...never gonna use the card; I have a gas card from 7 years ago that I never used and still have; it's keeping my history length up and my score higher and is most certainly not debt

2) Yes, because the FICO score affects insurance (not debt), jobs (not debt), utilities (not debt)

[LSUTiger32]

1) Credit Cards are not debt. You said it yourself right here that if you USE them then you have debt. Credit Card balance is debt; having an open credit line is not; I have an $1800 limit on a Firestone card and I've never been to Firestone in my life...never gonna use the card; I have a gas card from 7 years ago that I never used and still have; it's keeping my history length up and my score higher and is most certainly not debt

2) Yes, because the FICO score affects insurance (not debt), jobs (not debt), utilities (not debt)

So how is having a $1800 open trade line that you will never helping your credit. You show no history of using it and paying so it is worthless. If you have it, you have the ability to go into debt. If you are not going to use, what is the point?

Regardless of what it effects, the only way to get a FICO score and improve it is to use debt. The FICO score is made up of debt age, debt amount, debt utilization and the amount of times you apply for debt. Nothing else goes into the score except debt.

[LSUTiger32]

I am not sure why you are singling me out for your judgment LSUTiger. I am done debating this with you. You have hijacked this thread in my opinion.

Yes it is true, that my credit scores are around 680 now. They would not have been that without re-establishing credit.

In any case I think at this point we should just agree to disagree.

Sounds good to me. I am the bad guy, that's cool.

[Logan]

Wow, there is so much in here that is just plain scary I don't know where to start.

1. Credit cards = debt. If you use them, you have debt. Whether it is for 10 days or 10 years it is debt. Good try though.

2. You hate debt but you are worried to death about your I LOVE DEBT score. Wow.

3. You love savings and you are paying enough interest to banks to service a third world country. Awesome. Good luck with that strategy.

I have to disagree with #1. I use my credit cards mainly for online purchases, International travel and occasional purchases. I have the money to pay for my purchases but I don't want to use my Debit Card mostly for security reasons. My credit card statement is just another bill which is already budgeted for just like my electricity, my cable, my car insurance etc.

Example--I need to keep $2500 in my checking account to avoid fees. I currently have $3200 in the account. I just bought a dog door for $359 and used my credit card since I will be very close to the $2500 limit by the time I get my next pay check. I have the money, I most likely will not fall below $2500 if I used my checking account and this bill will probably be paid early. This is not a debt, just being smart with my money since I want to avoid unwanted fees.

If I did not have the money to pay for these items at the time of purchase then you could consider it a debt.

Logan

[Amy26]

Hehe, this is getting quite amusing actually. LSU says he's not trying to be snide, he's not trying to judge and he doesn't care if people want to continue using credit as they see fit, however, he keeps digging the nail in the coffin on people over and over.

I have no problem with people having opinions nor do I have a problem with them voicing them... but you made your point. You don't like credit and you think we're stupid for using it and continuing to try to get it. Thanks. You don't need to [fill in whatever word you think you're doing] anymore. Again, I know you say you're not trying to be rude, offensive, snide, etc... but (to me personally) how you make your statements and your opinions seems to be on the judgemental and snide side. Maybe its just me... but I find that when you want to disagree with someone or point out something you think is not the best solution, you can say it in a much more diplomatic fashion. It would also be more well received and not met with defensiveness. Especially with the nature of an online forum.

I find it odd that you 1. make your statements of fact as you see it (which is perfectly well and good) but 2. Accuse other people of retorting your "statements" with apparently non facts. Our retorts back with reasons for wanting/keeping/using credit are not fluff or made up stuff to make ourselves feel better. They are perfectly legitiment arguements as well.

We thank you greatly for running counter point to our points. But we disagree with you (some of us) and some people agree with you... if I can accept your statements as valid then you should be able to do the same with everyone else's.

What you say is like everything else on this board.. an opinion.

[RBisDebtFree]

Not to add fire to this discussion but just wanted to share with everyone that I just got my automatic credit limit of $200 to total it to $500 It's about the same Cap1 card that I "just got approved for", wow, time flies by fast

[BobMango]

Hehe, this is getting quite amusing actually. LSU says he's not trying to be snide, he's not trying to judge and he doesn't care if people want to continue using credit as they see fit, however, he keeps digging the nail in the coffin on people over and over.

I have no problem with people having opinions nor do I have a problem with them voicing them... but you made your point. You don't like credit and you think we're stupid for using it and continuing to try to get it. Thanks. You don't need to [fill in whatever word you think you're doing] anymore. Again, I know you say you're not trying to be rude, offensive, snide, etc... but (to me personally) how you make your statements and your opinions seems to be on the judgemental and snide side. Maybe its just me... but I find that when you want to disagree with someone or point out something you think is not the best solution, you can say it in a much more diplomatic fashion. It would also be more well received and not met with defensiveness. Especially with the nature of an online forum.

I find it odd that you 1. make your statements of fact as you see it (which is perfectly well and good) but 2. Accuse other people of retorting your "statements" with apparently non facts. Our retorts back with reasons for wanting/keeping/using credit are not fluff or made up stuff to make ourselves feel better. They are perfectly legitiment arguements as well.

We thank you greatly for running counter point to our points. But we disagree with you (some of us) and some people agree with you... if I can accept your statements as valid then you should be able to do the same with everyone else's.

What you say is like everything else on this board.. an opinion.

Well said Amy26. I'm reminded of that one kid in kindergarten that always went ape-s*** whenever all the other kids didn't do things the same way.

At any rate, this forum is big enough for all viewpoints. LSU is perfectly within their rights to post in this sub-forum, but one wonders about the need to make the same point time and time again.

[jadams]

So how is having a $1800 open trade line that you will never helping your credit. You show no history of using it and paying so it is worthless.

This is inaccurate.

Most companies still report cards with $0 balances monthly with "Pays As Agreed" notation.

It will build positive history just fine without use -- as long as it doesn't eventually get closed by the issuer for inactivity.

[LSUTiger32]

Hehe, this is getting quite amusing actually. LSU says he's not trying to be snide, he's not trying to judge and he doesn't care if people want to continue using credit as they see fit, however, he keeps digging the nail in the coffin on people over and over.

I have no problem with people having opinions nor do I have a problem with them voicing them... but you made your point. You don't like credit and you think we're stupid for using it and continuing to try to get it. Thanks. You don't need to [fill in whatever word you think you're doing] anymore. Again, I know you say you're not trying to be rude, offensive, snide, etc... but (to me personally) how you make your statements and your opinions seems to be on the judgemental and snide side. Maybe its just me... but I find that when you want to disagree with someone or point out something you think is not the best solution, you can say it in a much more diplomatic fashion. It would also be more well received and not met with defensiveness. Especially with the nature of an online forum.

I find it odd that you 1. make your statements of fact as you see it (which is perfectly well and good) but 2. Accuse other people of retorting your "statements" with apparently non facts. Our retorts back with reasons for wanting/keeping/using credit are not fluff or made up stuff to make ourselves feel better. They are perfectly legitiment arguements as well.

We thank you greatly for running counter point to our points. But we disagree with you (some of us) and some people agree with you... if I can accept your statements as valid then you should be able to do the same with everyone else's.

What you say is like everything else on this board.. an opinion.

I've bent over backwards to apologize to you and try to explain where I am coming from. Instead of doing the same, you do this. And I am the snide/rude/offensive (wait, were there any other adjectives) one?