User Controls
My credit score is 650-800 (out of 1000)
-
2020-09-21 at 11:34 PM UTCI'm a bit surprised. I've never paid a bill late, let alone been in debt. Actually that's not true, I apparently owe my power company $0.67 US.
Oh well, I don't need credit anyway. I pay cash. -
2020-09-21 at 11:38 PM UTCThat's a foolish outlook. You should be paying for everything with credit cards, that give you cash back and other perks. Always pay your bills on time, so you never pay interest, and you build creditworthiness. That's exactly what you should be doing, Rabbitweed. 👍⚘
-
2020-09-21 at 11:41 PM UTC
Originally posted by WellHung That's a foolish outlook. You should be paying for everything with credit cards, that give you cash back and other perks. Always pay your bills on time, so you never pay interest, and you build creditworthiness. That's exactly what you should be doing, Rabbitweed. 👍⚘
https://www.moneyhub.co.nz/best-credit-card-rewards.html
I should probably use one of these. -
2020-09-21 at 11:44 PM UTCOr should I?
I don't even know what I can pay for with credit cards here. They're not really a big thing in NZ. -
2020-09-21 at 11:46 PM UTCu got a good score. seriously? all vendors and merchants dont accept credit cards?
-
2020-09-21 at 11:46 PM UTCDoes NZ use TransUnion and Equifax like Canada and the US?
Or do you guys have your own thing? -
2020-09-22 at 6:02 AM UTC
Originally posted by gadzooks Does NZ use TransUnion and Equifax like Canada and the US?
Or do you guys have your own thing?
We can use 3 credit reporters, one of whom is equifax. I used a local company.
My score was 680. This is pretty normal apparently since I've pretty much never had a credit card. -
2020-09-22 at 6:04 AM UTC
Originally posted by WellHung u got a good score. seriously? all vendors and merchants dont accept credit cards?
I legit have no idea. I would say most people here don't have credit cards.
We use EFTPOS cards, which are maybe more like debit cards. You swipe it, choose your bank account, then enter your pin.
Isn't it kind of risky using your credit card everywhere? Mofos can steal your number and what not. -
2020-09-22 at 6:10 AM UTC
Originally posted by rabbitweed I'm a bit surprised. I've never paid a bill late, let alone been in debt. Actually that's not true, I apparently owe my power company $0.67 US.
Oh well, I don't need credit anyway. I pay cash.
that is strange. The way the FICO score system works is your debt to ratio. paying off your credit cards right away. zeroing out the balance is the fastest way to get above 750.
not using a credit card usually leaves it at a 0 plus or minus adjustment. you dont' exist to them if you only pay cash. though it is possible your debit card that is a Visa or MC? pays off the balance right away if you use it as credit and not an ATM and then have your bank account set up to pay it down right away. -
2020-09-22 at 6:49 AM UTC
Originally posted by Bugz that is strange. The way the FICO score system works is your debt to ratio. paying off your credit cards right away. zeroing out the balance is the fastest way to get above 750.
not using a credit card usually leaves it at a 0 plus or minus adjustment. you dont' exist to them if you only pay cash. though it is possible your debit card that is a Visa or MC? pays off the balance right away if you use it as credit and not an ATM and then have your bank account set up to pay it down right away.
I have no debt at all, and haven't had any since my student loan. But apparently with the way the scoring works here you need a history of getting stuff on credit and paying shit back. -
2020-09-22 at 6:52 AM UTClol boy meets worldThe following users say it would be alright if the author of this post didn't die in a fire!
-
2020-09-22 at 6:55 AM UTCLarry I don't need to buy things on credit.
I have money.
Also I don't live in the US. Credit isn't nearly as big a deal here. -
2020-09-22 at 7:11 AM UTCIve only had my card a couple years. Its 720 now. I just paid cash for everything my whole life. I assumed my “credit” would be good since i wasnt borrowing from anyone.
I just use it for all my transactions since i get 2% cash back + 5%back on Amazon,gas, groceries, etc. -
2020-09-22 at 7:23 AM UTC
Originally posted by CASPER Ive only had my card a couple years. Its 720 now. I just paid cash for everything my whole life. I assumed my “credit” would be good since i wasnt borrowing from anyone.
I just use it for all my transactions since i get 2% cash back + 5%back on Amazon,gas, groceries, etc.
Holy shit. In NZ cashback is like 0.67%. No wonder hardly anyone bothers with it. -
2020-09-22 at 10:14 AM UTC
-
2020-09-23 at 2:29 AM UTC
Originally posted by rabbitweed I have no debt at all, and haven't had any since my student loan. But apparently with the way the scoring works here you need a history of getting stuff on credit and paying shit back.
that is a simpler way of what I was saying. If you never used credit you probably don't have a FICO score and can't get a house loan unless you put down like 80% and willing to pay a huge interest on less than a 10 year loan when the average is 30 years.
You need to have used credit cards for a while. Doesn't matter if you filed Chapter 7,11,13 etc you can build it back up with tricks in just two years.
some people get credit card offers in months after a chapter 11The following users say it would be alright if the author of this post didn't die in a fire! -
2020-09-23 at 2:32 AM UTCJust remember this guys.
Your Good Standing Credit Score to a lady might make you more attractive to her.
Oh Wait, She's not much of a lady. She'll drain you dry. first in a good way and then -
2020-09-23 at 2:43 AM UTC
Originally posted by Bugz that is a simpler way of what I was saying. If you never used credit you probably don't have a FICO score and can't get a house loan unless you put down like 80% and willing to pay a huge interest on less than a 10 year loan when the average is 30 years.
You need to have used credit cards for a while. Doesn't matter if you filed Chapter 7,11,13 etc you can build it back up with tricks in just two years.
some people get credit card offers in months after a chapter 11
Not really how it works here (people definitely buy houses without credit cards), but a good credit score would definitely help.
