KeesdeWit

327 Contributions 82 People Helped Top Contributor

Member Since: June 2008

About Me: Debt free, except home mortgage.

Solid financial plan (do's and dont's):

Things you should do:
- Budget, budget (know what comes in and where it goes)
- stay out of debt (except mortgage)
- have a 6 month almost cash emergency fund
- put 15% into retirement accounts
- have a 15 year fixed rate mortgage with a payment of no more than 25% of your take home pay.
- have no more than two credit cards
- use them for online purchases (such as airlines tickets, amazon, etc)
- pay the cards off every month, well before the due date
- have term life insurance in place while you have small dependents and while you are building your financial future
- get LTC when you turn 60 or so
- when you are getting significant savings in your account, meet with a fee-only financial planner.

Things you should not do:

- co-sign
- collect credit cards as a sign of how well you are doing financially
- loan money to family or friends (make it a gift, w/o strings attached)
- sign up for Debt Consolidation
- buy from Cash Value Life insurance of any type
- get a car loan (it goes down in value)
- use your bank as your financial advisor
- use an insurance agent as your financial advisor
- impulse buy

Most Helpful Contribution

Credit reporting is a scam!

Mar 04, 2011
Helpful to 14 out of 16 people

Welcome to the magic of credit scoring. Amen.

Credit scoring has nothing to do with income or wealth or assets. It is all about debt, paying debt back and going back into debt. It really is a silly game to maintain the bank's profits.

Activity (327 Total Contributions)

Results 1-10 of 327Results per page: 5 | 10 | 25Page 1 of 33   Previous | Next

How do I get a credit report from all three credit bureaus on Credit Karma?

Dec 24, 2012
You cannot
Helpful to 6 out of 6 people

The web site is;

www.annualcreditreport.com

Credit reporting is a scam!

Mar 04, 2011
Helpful to 14 out of 16 people

Welcome to the magic of credit scoring. Amen.

Credit scoring has nothing to do with income or wealth or assets. It is all about debt, paying debt back and going back into debt. It really is a silly game to maintain the bank's profits.

How much money should I save for a down payment on a house worth $130,000

Mar 01, 2013
20%
Helpful to 2 out of 2 people

20% or more is the best. You will avoid PMI and get the best rates.

How can it be ck says 601 & actual score 674 won't believe this site again

Mar 01, 2013
There is no standard scoring
Helpful to 2 out of 2 people

I do not know what you mean with actual score. There is no actual score.

There are 3 credit reporting agencies, not all creditors report to all 3. There are different methods of calculating score for different types of credit and scores are calculated by different companies (such as FICO)

somebody commited fraud using my social security number. How can i fix my credit score?

Mar 31, 2011
Helpful to 2 out of 2 people

First you must report it to the police, and get a police report.

Then you have to contact the creditor and let them know about the fraud and they have to remove your name.

balance transfers

Jan 20, 2011
Helpful to 2 out of 2 people

Opening a new card will cause a small drop in score. The rest depends on what the credit limits are on the old and new cards.

balance transfer?

Jan 16, 2011
Helpful to 2 out of 2 people

Yes, it should be. Closed means no new charges. The CCC will not 100% close it until the balance has been paid in fill.

how improve my credit score?

Jan 15, 2011
Helpful to 2 out of 2 people

Get a copy of your credit reports from www.annualcreditreport.com and look at your bad debts (if any).

Call them one by one, make an offer to settle, get it writing and send a cashier check. Keep records forever.

Derogatory Marks - How do I find the details on them so I can start to work on them?

Mar 01, 2013
annualcreditreport.com
Helpful to 3 out of 4 people

is the place to find out.

Wrong Info about mortgage &credit card

Mar 01, 2013
Other credit agency?
Helpful to 1 out of 1 people

CK uses Transunion.

Others are Experian and Equifax.

Get a copy of your credit reports from annualcreditreport.com and see if they are reported there.

If not, you contact the financial institution (mortgage holder, credit card company)

(side note: credit reporting is through social security number, so if the SSN on the mortgage is not correct, it will not show up)

Results 1-10 of 327Results per page: 5 | 10 | 25Page 1 of 33   Previous | Next