11 People Helped
Member Since: November 2009
This is the same as saying (as is taught in college intro stat classes) that the number of storks visiting south Florida in June 2009 increased by 35% over 2008. The number of births in June 2009 in south Florida increased by 35%. Interesting stats -- but most of us (maybe not all) -- understand that storks don't bring babies. I have my email account because of convenience. My guess -- not that it matters -- is that Bell South happens to serve slightly more affluent areas of the country.
As to credit scores, until they figure out how to include income, net worth, liquidity (cash on hand to meet anything that comes up), the credit scores don't mean much. I have 15 inquiries which is rated F. Virtually all of this was related to two different loans -- 1 for a refinance of my mortgage and the other for a car. In both cases, the inquiries were spread over several months as I was in no hurry to do either until I found the right loan and the right car. In 80% of the inquiries (maybe all), it's clear from the names of the creditors (Toyota Financial, xxx Mortgage, nnn Mortgage, etc.) that I'm looking for either a car loan or a mortgage -- yet the "model" is not smart enough to figure out that I'm not shopping for a bunch of different credit cards or lines. Everything else on my report card is an "A" yet my score is 689. NOT taken into consideration is the fact that I make well over $200,000 a year and have a PITI house payment of $850 and 2 car loans (secured credit where, if necessary, the asset can be sold by me to pay off most or all of the loan thus creating no exposure to other creditors. Credit scores are BS....and built primarily for fast0-decisioning of credit applications. In 30 seconds, a CC company can pull my score and see that it is below their 720 requirement so DENIED in spite of my net worth, income, and liquidity. Happy credit scoring, oh, credit scorers!!
dxrouse's response was:
I have had an AmEx Gold for 32 years. Balances are to be paid in full every month. I've run 15 to 20 days late (when I've been between jobs) so I SHOULD have good credit with AmEx. (My CS is 698 -- lowered because of two <$100 medical bills sent to collection.)<br/>
I also carry a Blue for Business AmEx which I have had for about 10 years. It had a credit limit of $3,000 which AmEx recently lowered to $1,000 -- for whatever reason they can think of.
The cards are kept open so that I have these for emergencies (like when a local bank cancelled my ATM card while I was out of town -- because of security issues). Otherwise, I WOULD NOT do business with AmEx....or AT&T or GM or DirectTV. Oh, or with that bank where I banked for 15 years.
DON'T get an AmEx card. There are other cards at better rates and certainly with better treatment.
I've talked with various reps 3 different times....trying to get a rate and an estimate of closing costs. In each case, no one could move from A to B. Their reps are apparently trained to try to 'customize' a loan for a customer. I'm in my sixties, a banker, and have had numerous home mortgages. I know excactly what I want and I don't need an inexperienced kid walking me through "just a few questions" such as 'how long do you plan to live in the home?', 'is payment amount more important to you or is getting your house paid off earlier more important?' 'cuse me, I don't need your help....I just want rates and costs that I can compare to your competition. Paytrust.com is the only worthwhile product/service provided by Intuit any longer (and they bought that company). Turbotax has become a joke (dumbed down to the point that you feel like you're doing your first tax return and talking to an H&R Block newbie). Quicken has become so overburdened with features that it's useless. And the ONE feature that Quicken needs, it doesn't have....the ability to project cash out 13 weeks. (You can sorta do it by using budgets but it is NOT the same as cash budgeting.) I'll stay away from Quicken Loans and all things Quicken....except paytrust, which I've used since it was paymybills.com.