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How to increase your FICO score....

Poirot

Poirot

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Get Shredded!
This shit isn't rocket science...I've been broke with nothing and have done a total 180....my credit has been stellar and in the celler..but you know what has always helped me? My credit score...if you make a payment on any unsecured credit account for a minimum of 180 days, your credit score will increase. Your credit score will not increase if you take out a loan for 24-72 months and pay it off in 6 months, thats not a solid repayment history. If your credit sucks, you must do these couple of things.

1) repay your debt you fucking deadbeat
2) dispute the charges on your credit report, the collection agency or lender has a 30 day response time to validate the debt otherwise it is erased from your credit
3) get a guaranteed credit card which means you give them $500 pay $35 processing fee thus netting you $465 of available credit and you use that for 60 to 90 days put more money on your account to another 60 to 90 days and then they are someone will offer you a $500 to 1000 credit card unsecured.

Once your credit score drops below 600 the only way to build it back up is following this method because basically you're considered a deadbeat pedophile Muslim butt raper.

Once someone gives you a credit card and you pay on it for 6 months and you have a zero balance call them and ask them for a credit increase. You may or may not get it but persistence is key once they see you have a solid repayment history they're likely to increase your credit limit.

Okay so now your credit limit has been increased what does that mean? Wel that means you're available credit overall has gone up. say you started out with $1,000 and now your available credit limit is $3,000 your credit score jumps exponentially.

The key to having good credit is to never use more than 35% of your available credit which means if you have $1,000 credit limit never charge more than $350.

Don't repay it early, paying on time shows a solid repayment history and then let them increase your limit from there.

Your FICO score is based on a couple of things,actually several things the main ones are available credit and debit to income.

If you have $10,000 worth of credit and are using $9,500 of that, your credit score sucks and it doesn't make a fuck if you're paying it on time.

The key is fiscal responsibility.

Once you pay down the balance to 0 after 6 months to a year call the credit agency and tell them to bump your credit up.

I'm not bragging because I don't know any of you motherfukers nor do I give a shit what you think but my credit score is almost an 800.... not bad for a fucking dude that has had a 550 credit score and been broke twice.

I can buy what the fuck I want to without even worrying about whether or not my credit application will go through and only an idiot pays interest.

If I do carry a balance on my credit card where they have 0 interest for 18 to 24 months when that time is up and I still have a balance I roll that mother fucker onto another offer with 18 to 24 months because when you have good credit, credit card companies are throwing fucking deals at you.

Be smart never pay fucking compounded interest be smart when that offer is over roll that balance over to another no interest or low interest credit card offer.

Right now I'm at 9% of my credit being used..... people pay me to give me money, think about that.

PayPal and Amazon give me a deal where if I buy something over $99 I have 6 months no interest to pay it back now why the fuck would I give them $99 when I could pay them a few dollars a month and leave my money in the bank or other Investments earning me more money.

My short term Investments are cars. I use that money to buy cars, flip them make a little profit and I'm not talking about expensive cars, im talking about making 1,500 to $2,000 a car I flip.

My big money is real estate....thats another post.....ask around, I buy shit from vendors on here all the time and they ship to 5-6 addresses..these are all houses I own and the tenants forward my shit to me..... some motherfuker who was a vendor said I didn't have an infinity pool because I bought some stuff from him and had them shipped to one of my houses out of state and I guess he assumed I live there..... he's a stupid mother fucker.

Google Earth doesn't tell you everything you want to know you dumb mother fucker...

Anyway most of the shit is stuff that you should know already but if you have any questions you're welcome to p.m. me and I'm happy to help you out.







Sent from my DEA work phone
 
You're beating a dead horse. The smart ones already get it, and the retards stopped reading by the end of the third sentence.
 
This is a completely subjective topic b/c the majority of people live by the allmighty "fico score", but here's my opinion. No disrespect to you Poirot, but most of this info is rubbish.

How about this?

Get rid of the ridiculous belief that your worth is based off a score that determines one's chance of being loaned money.

If you're truly on your game, you don't need to borrow money. You'd be paying for it with cash.

Get rid of the belief that a car payment is something one will have the rest of my life. Unfortunately, this is a societal belief with most generations now.

Fuck a car payment. One of the worst depreciating "investments" you could ever make. Most, but not all, automobile purchases have no return on investment. I'll drive an average car b/c I'm not trying to impress someone on the the street that I'll never even know. When I have enough cash on-hand(without shorting my investments and retirement) to buy an upscale car, then I will.

Get rid of the belief that "people are paying me to give me money" b/c you got a no interest for six month deal.

Creditors know people will jump on this in an instant b/c they are waiting for that person that loses their job or has a financial hardship and can't make their "interest free" payment. Guess what? They can't make the terms of repayment, default, and accrue all of the interest from day 1 at an insane APR and are fuct even further.

Stop telling people, "I simply rolled my existing balance over to another no interest account and I'm saving money!"

Did you mention the minimum 3% transfer fee you paid to roll it over? Did you mention that increasing the number of accounts actually LOWERS your blessed fico score? And again, creditors are looking for the same person who falls on bad luck with the "no interest six month promotion".



Fico scores are a false sense of worth. I'm at 0% credit utilization. Why? Because I don't use credit cards anymore and I no longer fall for that "free money for 6-18 month bs". Fuk all that. Why live in a neverending circle of paying back money to someone else when you could be using that money to build investments and actually build your monetary worth instead of a bs credit score?

I get it though. Some people need to start somewhere and borrowing on credit could be their only option, but once they've established that base and have the means to build an income, pay the loan sharks off and get the hell away from lines of credit for good!
 
I don’t believe in using credit for personal use. I’m a cash guy. If you don’t have the cash then you don’t need what you are buying. I only use credit card for business. My go to cards are captiol one sparks and venture one. Sparks is my favorite. I get 2% back. This give me around 4K of free money every year.
 
And I never pay interest. Always pay each charge within 21 days. My sparks has a 80k limit and venture 30k.
 
chubbs said:
This is a completely subjective topic b/c the majority of people live by the allmighty "fico score", but here's my opinion. No disrespect to you Poirot, but most of this info is rubbish.

How about this?

Get rid of the ridiculous belief that your worth is based off a score that determines one's chance of being loaned money.

If you're truly on your game, you don't need to borrow money. You'd be paying for it with cash.

Get rid of the belief that a car payment is something one will have the rest of my life. Unfortunately, this is a societal belief with most generations now.

Fuck a car payment. One of the worst depreciating "investments" you could ever make. Most, but not all, automobile purchases have no return on investment. I'll drive an average car b/c I'm not trying to impress someone on the the street that I'll never even know. When I have enough cash on-hand(without shorting my investments and retirement) to buy an upscale car, then I will.

Get rid of the belief that "people are paying me to give me money" b/c you got a no interest for six month deal.

Creditors know people will jump on this in an instant b/c they are waiting for that person that loses their job or has a financial hardship and can't make their "interest free" payment. Guess what? They can't make the terms of repayment, default, and accrue all of the interest from day 1 at an insane APR and are fuct even further.

Stop telling people, "I simply rolled my existing balance over to another no interest account and I'm saving money!"

Did you mention the minimum 3% transfer fee you paid to roll it over? Did you mention that increasing the number of accounts actually LOWERS your blessed fico score? And again, creditors are looking for the same person who falls on bad luck with the "no interest six month promotion".



Fico scores are a false sense of worth. I'm at 0% credit utilization. Why? Because I don't use credit cards anymore and I no longer fall for that "free money for 6-18 month bs". Fuk all that. Why live in a neverending circle of paying back money to someone else when you could be using that money to build investments and actually build your monetary worth instead of a bs credit score?

I get it though. Some people need to start somewhere and borrowing on credit could be their only option, but once they've established that base and have the means to build an income, pay the loan sharks off and get the hell away from lines of credit for good!
Click to expand...

I have to agree with the OP...

Credit scores unfortunately is how lenders perceive your trustworthiness in the world we live in bc they don't know you nor have a relationship with you.

Having excellent credit means you borrow money for free at 0 percent APR. So you are paying off a car with no interest. The money is better in your account then their account. IMO

Paying cash on the barrel has value but there are times when that isn't feasible. I am in the process of getting a home close to 600k. IDK many ppl who can just pay 600k cash for a house?? God bless if you can but that is certainly not the average person. Most ppl live check to check with no retirement set up.

One thing that does PISS me off? Run your credit a few times and they lower your score! Which is stupid bc if I am looking to buy something (car for instance) and shop around they penalize you bc lenders have been checking your FICO score.

If you are poor and have bad credit, you pay more for loans (which you are less apt to afford).
If you are rich and have good credit, you pay less for loans (which you can most likely afford to pay easily).
 
It is definitely a game. Don’t max out your credit. Only use 30% of your available credit and pay off. Put $2500 at my cards around summertime and my fico score only went up a few points. The game is real. Only use your credit cards for something you can pay off the next month. Know your credit. Hard inquiries hurt your credit. If a lot of companies turn you down. And stays on your credit for 2years.
 
Listen to Dave Ramsey on the radio his advice is solid way to live.
 
OfficerFarva said:
You're beating a dead horse. The smart ones already get it, and the retards stopped reading by the end of the third sentence.
Click to expand...
I'm sure!🤣🤣🤣🤣

Sent from my DEA work phone
 
Tbj555 said:
I don’t believe in using credit for personal use. I’m a cash guy. If you don’t have the cash then you don’t need what you are buying. I only use credit card for business. My go to cards are captiol one sparks and venture one. Sparks is my favorite. I get 2% back. This give me around 4K of free money every year.
Click to expand...
Soooo, you're not a homeowner?

Sent from my DEA work phone
 
I will be honest I started building my credit the day I turned 18. All of my bills in college went on the credit card and were paid off every month. I think I had a credit score of 790ish by the age of 21. credit is something that is great to have. Use it a little bit to keep your score up there.

Something not a lot of people prolly realize is the longer you have had the card the better. Don't pay off all your debt and get rid of your oldest card. Keep the oldest card. I made that mistake and it dropped my score 20points I was pissed!
 
Augustine5I said:
I have to agree with the OP...

Credit scores unfortunately is how lenders perceive your trustworthiness in the world we live in bc they don't know you nor have a relationship with you.

Having excellent credit means you borrow money for free at 0 percent APR. So you are paying off a car with no interest. The money is better in your account then their account. IMO

Paying cash on the barrel has value but there are times when that isn't feasible. I am in the process of getting a home close to 600k. IDK many ppl who can just pay 600k cash for a house?? God bless if you can but that is certainly not the average person. Most ppl live check to check with no retirement set up.

One thing that does PISS me off? Run your credit a few times and they lower your score! Which is stupid bc if I am looking to buy something (car for instance) and shop around they penalize you bc lenders have been checking your FICO score.

If you are poor and have bad credit, you pay more for loans (which you are less apt to afford).
If you are rich and have good credit, you pay less for loans (which you can most likely afford to pay easily).
Click to expand...

Here in lies the problem. If you have to finance a car, then you can’t afford it. I realize it’s 0% interest, but a lot of people don’t qualify for that and if they do and fall on a hardship without an emergency fund, they’re screwed.

With a mortgage, I can’t argue; I have a mortgage, but it will do my best to pay it off ASAP. Ironically, I just priced out a house at 550k because I want motivation to reach that goal.

All I’m getting at is that people shouldn’t live paycheck to paycheck and retire broke or never retire at all.
 
Last edited:
chubbs said:
Here in lies the problem. If you have to finance a car, then you can’t afford it. I realize it’s 0% interest, but a lot of people don’t qualify for that and if they do and fall on a hardship without an emergency fund, they’re screwed.

With a mortgage, I can’t argue; I have a mortgage, but it will do my best to pay it off ASAP. Ironically, I just priced out a house at 550k because I want motivation to reach that goal.

All I’m getting at is that people shouldn’t live paycheck to paycheck and retire broke or never retire at all.
Click to expand...
It also comes down to cash flow though. I would rather spend $600 per month on a car payment and pay 2% interest then empty my savings account and pay cash. I could pay off my car loan today if I wanted to but I want cash flow and a savings instead.

However I do agree having an emergency fund is the key. I have been saving money for 20 years. Some times it was very hard to save and other times easy but I never once missed a payment to my savings. Every paycheck for 20 years.
 
Get Shredded!
Everybody in here is saying cars are a bad investment.

Well, they are but a very necessary investment.

I have bought many trucks as I need them for work and I can say 0% interest is a very good deal as it is free money unencumbered by interest.

And the best way to lessen the 'bad investment' is to own it for a long time.

My current truck is 10 years old with 245K on it and I was thinking about replacing it last year but I cannot justify buying a new truck as this one is in such good shape.

Oh, and has anybody checked out prices for new trucks? 45k these days, that is another big motivator for me to hold onto this one :)
 
hmm- My 'thank' function doesn't work anymore- wonder if that is related to having to spread the wealth with reputation- Anywho- I totally agree about owning for a long time. Why buy a new car or truck when the one you have is in perfectly good shape and working condition. It is a waste of money IMO.
Skip Foursome said:
Everybody in here is saying cars are a bad investment.

Well, they are but a very necessary investment.

I have bought many trucks as I need them for work and I can say 0% interest is a very good deal as it is free money unencumbered by interest.

And the best way to lessen the 'bad investment' is to own it for a long time.

My current truck is 10 years old with 245K on it and I was thinking about replacing it last year but I cannot justify buying a new truck as this one is in such good shape.

Oh, and has anybody checked out prices for new trucks? 45k these days, that is another big motivator for me to hold onto this one :)
Click to expand...
 
nwguy said:
fpu?
Click to expand...

Financial Peace University

Skip Foursome said:
Everybody in here is saying cars are a bad investment.

Well, they are but a very necessary investment.

I have bought many trucks as I need them for work and I can say 0% interest is a very good deal as it is free money unencumbered by interest.

And the best way to lessen the 'bad investment' is to own it for a long time.

My current truck is 10 years old with 245K on it and I was thinking about replacing it last year but I cannot justify buying a new truck as this one is in such good shape.

Oh, and has anybody checked out prices for new trucks? 45k these days, that is another big motivator for me to hold onto this one :)
Click to expand...


Let me rephrase that. Buying New is a bad investment. Maintaining a car that is paid off and still runs fine and keeping it until it dies is what more people should do. I have an ‘11 and I’ll run it into the ground. Too many people want the newest model and are throwing away money by always trading in after a few years because people are engrained with the belief that a car payment is like a utility.

I used to work out in the field and you’d be amazed at how many people out there own a $50-60k house, but are driving a brand new $80k Escalade.
 
chubbs said:
Here in lies the problem. If you have to finance a car, then you can’t afford it. I realize it’s 0% interest, but a lot of people don’t qualify for that and if they do and fall on a hardship without an emergency fund, they’re screwed.

With a mortgage, I can’t argue; I have a mortgage, but it will do my best to pay it off ASAP. Ironically, I just priced out a house at 550k because I want motivation to reach that goal.

All I’m getting at is that people shouldn’t live paycheck to paycheck and retire broke or never retire at all.
Click to expand...


As a priority, ppl should strive to have at least 6 months in the bank of expenses for a rainy day...no business buy a car or investing money if you don't. If you fall on hard times you could lose your home. Which for many is their biggest investment.

Like Heavy said, I could pay off my two cars tomorrow, but why? No interest means it doesn't cost me anything and frees up my money. I don't like having a payment of any kind "hanging over my head" so I get that too.

I have little debt (until I get this new house). Mortgage guy was like "open some credit cards" to help my score. I was like fuck that shit. My score is like 730. Not about to open up credit cards and purposely put on debt to raise my score 10 points.

Life is fucking hard. These millennials coming out of school want to change the world....take from the rich to redistribute wealth. Works for them bc they have no money and owe college debt. Don't steal from the rich. Find a way to make poor ppl no longer poor. Win win.
 
Augustine5I said:
As a priority, ppl should strive to have at least 6 months in the bank of expenses for a rainy day...no business buy a car or investing money if you don't. If you fall on hard times you could lose your home. Which for many is their biggest investment.

Like Heavy said, I could pay off my two cars tomorrow, but why? No interest means it doesn't cost me anything and frees up my money. I don't like having a payment of any kind "hanging over my head" so I get that too.

I have little debt (until I get this new house). Mortgage guy was like "open some credit cards" to help my score. I was like fuck that shit. My score is like 730. Not about to open up credit cards and purposely put on debt to raise my score 10 points.

Life is fucking hard. These millennials coming out of school want to change the world....take from the rich to redistribute wealth. Works for them bc they have no money and owe college debt. Don't steal from the rich. Find a way to make poor ppl no longer poor. Win win.
Click to expand...
I think the 6 month rule for an emergency fund makes sense. I take it one step further and pay my bills months in advance plus keep the emergency fund. Its always nice at Christmas to be able to skip paying any bill I want to buy gifts. Then in January I begin to beat down the bills again.
 
chubbs said:
Financial Peace University




Let me rephrase that. Buying New is a bad investment. Maintaining a car that is paid off and still runs fine and keeping it until it dies is what more people should do. I have an ‘11 and I’ll run it into the ground. Too many people want the newest model and are throwing away money by always trading in after a few years because people are engrained with the belief that a car payment is like a utility.

I used to work out in the field and you’d be amazed at how many people out there own a $50-60k house, but are driving a brand new $80k Escalade.
Click to expand...
I get what you are saying and do not disagree.

I have two friends that also have trucks like me and one bought a Dodge last year and the other guy is kicking and screaming to buy a new truck this year as his old one is just done, and I mean DONE!

But these guys have retirement secured and do not spend money on something like a truck until they absolutely have to.

Ever read the book 'the millionaire next door'?

Guys do not become millionaires by wasting money on cars.
 
Guys have an offer for anyone in need of credit help. I have 3 standard letters to utilize to get negative reports off your credit report. Not a guarantee, but I had 6 late reports that I disputed with the letters and got 5 to take em off within 60 days. Not a guarantee but it boosted my score 60 points in less then 90 days. No gimmicks, no cost. Just here to offer help. I can email if you like.


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This is what I do for my credit and mortgage that works for me. I took out a 150,000 dollar line of credit and paid off the traditional mortgage and all of my deposits go directly into that account every month. So if I have 10,000 come in that month it all goes into the line of credit account which also makes the payment and in return it’s sorta like I make 4.25% on the 10,000 or whatever goes in for the month. I keep a regular checking and savings also but just for a small rainy day fund since it pays nothing in interest.

I use my credit cards to pay all bills and yes including food that my American Express gives 3% back on. At the end of the month I pay out of the line of credit.

If you are not stupid with your money if you do the math you will turn your 30 year mortgage into 10 years this way.

Takes a little getting use to but I do have 3 houses now doing this and one line of credit left to get paid off.


As far as keeping debt on credit cards or car loans to have good credit is BS. It does take a while with payment history to build credit. I have almost 100,000 in open credit cards and no debt except my mortgage aka line of credit that 65,000 is left on.

45f0b55dc31211503962ad8633f095fc.jpg



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