Question about credit scores.. - Yamaha R1 Forum: YZF-R1 Forums
Off Topic Talk All off-topic posts. Music, Sports, Movies, Humor, etc... (No NWS)

Reply
 
LinkBack Thread Tools Display Modes
post #1 of 42 (permalink) Old 11-01-2012, 09:49 PM Thread Starter
Never made a great wheelie..
 
Nine76Chris's Avatar
 
Join Date: Mar 2008
Location: SoCal
Posts: 1,518
Question about credit scores..

I have an setup with transunion called zendough (zendough.com) where I monitor my credit scores and reports. With my credit score of 801 they say 48% of all consumers have a better credit score than me. Top of the scale is 950. So my question is does anybody here have a score in the 900s? I'm perfect with all my payments. How do you do it?

EDIT: I bought a house in July and it hasn't showed in the credit reports as of yet...do they do it once a year or something?



Quote:
Originally Posted by Goobr View Post
I'd drag my balls through a half mile of broken glass just to smell the tire tracks of the garbage truck that hauled her panties away.
Quote:
Originally Posted by Nordic Berserker View Post
Deserve what a portion of MY money?

Nobody deserves the fruits of another mans labor under any circumstance. This is quite literally armed robbery.

Last edited by Nine76Chris; 11-01-2012 at 09:56 PM.
Nine76Chris is offline  
Sponsored Links
Advertisement
 
post #2 of 42 (permalink) Old 11-01-2012, 10:26 PM
over da hump.....
 
shhaker's Avatar
 
Join Date: Dec 2004
Location: $IN CITY
Posts: 3,224
what 801 isnt good enuff?

it goes off your debt ratio, available credit, bla bla bla. with my 800 credit score i got a 4.25 interest rate on my new bike.

shhaker is offline  
post #3 of 42 (permalink) Old 11-01-2012, 10:56 PM
I eat my R1
 
Yam M1R's Avatar
 
Join Date: Oct 2012
Location: Baltimore,MD
Posts: 193
The bad thing about that is last yr the highest credit score was a 850 now it 950 Damn keep moving the score up and up!!! What's next pay cash for everything or u can't get it

Sent from my PC36100 using Motorcycle.com Free App
Yam M1R is online now  
post #4 of 42 (permalink) Old 11-01-2012, 11:24 PM
I eat my R1
 
Join Date: Jan 2002
Location: Miramar, FL
Posts: 8,571
What's your APR if you don't mind me asking? I have a 768 and I locked in a 3.75% for a
30 year mortage.

That very same day I went in and out of a Bank of America, Chase, and Wells Fargo
and the lowest APR they offered was a 3.52%
neihouma is offline  
post #5 of 42 (permalink) Old 11-02-2012, 05:52 AM
I eat my Night Rod
 
Join Date: Jul 2012
Location: Atlanta, GA
Posts: 538
just closed on a house last friday with a 3.75% rate

refinanced my car two days ago and got a 4.2% rate

801 is damn good already. why the quest to get better than that? it just means taking on more debt and managing it well.
greenc51 is offline  
post #6 of 42 (permalink) Old 11-02-2012, 06:51 AM
Full Time Post Whore
 
Maxxym's Avatar
 
Join Date: Apr 2002
Location: Concord, Ohio
Posts: 9,067
Quote:
Originally Posted by Nine76Chris View Post
I have an setup with transunion called zendough (zendough.com) where I monitor my credit scores and reports. With my credit score of 801 they say 48% of all consumers have a better credit score than me. Top of the scale is 950. So my question is does anybody here have a score in the 900s? I'm perfect with all my payments. How do you do it?

EDIT: I bought a house in July and it hasn't showed in the credit reports as of yet...do they do it once a year or something?
That score is not a FICO score.. it's called FACO score. FACO scores have higher range. FICO score only goes to 850

If you want really accurate score, buy it from myfico.com
Maxxym is offline  
post #7 of 42 (permalink) Old 11-02-2012, 07:12 AM
I eat my R1
 
kickarsmann's Avatar
 
Join Date: Dec 2010
Location: Boston, MA
Posts: 544
You guys should check out PenFed. I refinanced my car with them, 1.49%. I came from a 5.69. Saved my monthly payments by 50 dollars every month. Credit scores are BS, I hate how we're discriminated by it. I have a 739/850 or 900...
kickarsmann is offline  
post #8 of 42 (permalink) Old 11-02-2012, 07:46 AM
Opposed to all posing posers
 
FactoryPilot's Avatar
 
Join Date: Feb 2004
Location: Dallas, TX
Posts: 555
High credit scores are not based purely on on-time payments. They are also based on account age and total debt ratio along with many other factors.
FactoryPilot is offline  
post #9 of 42 (permalink) Old 11-02-2012, 09:04 AM Thread Starter
Never made a great wheelie..
 
Nine76Chris's Avatar
 
Join Date: Mar 2008
Location: SoCal
Posts: 1,518
Quote:
Originally Posted by neihouma View Post
What's your APR if you don't mind me asking? I have a 768 and I locked in a 3.75% for a
30 year mortage.

That very same day I went in and out of a Bank of America, Chase, and Wells Fargo
and the lowest APR they offered was a 3.52%
Mine is 3.75% fixed 30 year VA



Quote:
Originally Posted by Goobr View Post
I'd drag my balls through a half mile of broken glass just to smell the tire tracks of the garbage truck that hauled her panties away.
Quote:
Originally Posted by Nordic Berserker View Post
Deserve what a portion of MY money?

Nobody deserves the fruits of another mans labor under any circumstance. This is quite literally armed robbery.
Nine76Chris is offline  
post #10 of 42 (permalink) Old 11-02-2012, 09:31 AM
I eat my R1
 
Join Date: Jan 2002
Location: Miramar, FL
Posts: 8,571
Quote:
Originally Posted by Nine76Chris View Post
Mine is 3.75% fixed 30 year VA
Cool beans thanks for replying... I'm at a bank of America now and their signs are now offering 3.51%...

I wonder wonderbwhat score do you need to get such lower interests...
neihouma is offline  
post #11 of 42 (permalink) Old 11-02-2012, 09:47 AM
I eat my Night Rod
 
Join Date: Jul 2012
Location: Atlanta, GA
Posts: 538
well the apr actually depends on the market on a day to day basis. the banks dont decide that really, from my understanding
greenc51 is offline  
post #12 of 42 (permalink) Old 11-02-2012, 09:56 AM
Living Life Like a Mad Man
 
ALTON05R1's Avatar
 
Join Date: Dec 2011
Location: Atlanta, Ga
Posts: 1,003
I locked in my rate at 3.75% a few months ago on my house. i went through a mortgage broker i was told that they can typically get you a lower APR than some banks, at the time the 3.75 was a few points lower than most banks. Also the brokers were alot easier to work with than big corporation banks.

Sent from my SPH-D710 using Motorcycle.com Free App


Sig by the great Uncle P
ALTON05R1 is offline  
post #13 of 42 (permalink) Old 11-02-2012, 10:12 AM
I eat my Night Rod
 
Join Date: Jul 2012
Location: Atlanta, GA
Posts: 538
my mortgage application process was the most pain in ass process i have ever gone through for anything. i used wellsfargo
greenc51 is offline  
post #14 of 42 (permalink) Old 11-02-2012, 10:29 AM
22 is too many...
 
polakw/aR1's Avatar
 
Join Date: Apr 2006
Location: The Garage(CO)
Posts: 13,182
right now I am sitting at 870ish and slowly climbing. keep your payment history clean(most important), and dont be quick to pay shit off right away, do it, but just build good clean payment history first then pay it off. also dont open and close bank accounts most people dont realise it but opening and closing them will effect you score poorly, why i dont exactly know but it does. Also stay away from department store cards, the bigger amount of credit that you can use can effect your score also, 1 or 2 cards max, and keep them, opening and closing credit cards will also effect you. I had a target card once and I only got it because I got 30% off on my first purchase with it(first puchase was everything for my kitchen at the time) and I turned around payed the bill off and closed the account well it reflected negatively on my credit score so keep that in mind. In the next couple of years I am hoping to break into the 900's. I am 31 by the way. and I have been in the 800's for a long time. Payment history is key!



Sig by Petrol

Quote:
Originally Posted by GEN Patton
A good plan violently executed now is better than a perfect plan executed next week.
polakw/aR1 is offline  
post #15 of 42 (permalink) Old 11-02-2012, 05:07 PM
I eat my R1
 
Join Date: Aug 2004
Location: Pleasant Grove, Utah
Posts: 1,508
Quote:
Originally Posted by Yam M1R View Post
The bad thing about that is last yr the highest credit score was a 850 now it 950 Damn keep moving the score up and up!!! What's next pay cash for everything or u can't get it

Sent from my PC36100 using Motorcycle.com Free App
Different agencies have different scores. It is the FICO score which is 850. There is really no benefit to anything over about 770(FICO), so getting concerned about miniscule drops is pointless. Credit is very simple, although there are some stupid tricks to raising it and even more stupid reasons it may temporarily drop, showing a long history of regular payments is still the foundation. Pay your bills, on time and in full, and getting the best rates should never be an issue as long as you have more than 7-8yrs of credit history.

Those with the best credit are usually those who don't need it.
stop2think is offline  
post #16 of 42 (permalink) Old 11-02-2012, 05:11 PM
I eat my R1
 
Join Date: Aug 2004
Location: Pleasant Grove, Utah
Posts: 1,508
Quote:
Originally Posted by polakw/aR1 View Post
also dont open and close bank accounts most people dont realise it but opening and closing them will effect you score poorly, why i dont exactly know but it does.
This is actually one of the most important things for maintaining your score: even if you do not ever use it, do not close credit accounts where you have a long history. If you've had an AMEX for 15yrs but never use it, DO NOT CANCEL IT.
stop2think is offline  
post #17 of 42 (permalink) Old 11-02-2012, 05:22 PM
................
 
Join Date: Jun 2012
Location: Harrington Maine
Posts: 4,183
Ive never even heard of anyone refinancing a car? Its already a low interest rate to begin with. Figure in a 3 year term on average and I would think the fees to refinance would be more than the savings.
lobsterhound is offline  
post #18 of 42 (permalink) Old 11-02-2012, 06:08 PM
I eat my R1
 
Join Date: Aug 2004
Location: Pleasant Grove, Utah
Posts: 1,508
Quote:
Originally Posted by lobsterhound View Post
Ive never even heard of anyone refinancing a car? Its already a low interest rate to begin with. Figure in a 3 year term on average and I would think the fees to refinance would be more than the savings.
Penfed currently offers 1.49% refinancing up to $70k, the process literally costs a few bucks and takes 15min. Definitely worth it in a lot of cases. I know a handful of people that have taken advantage of it, including my idiot brother who refinanced all 3 of his vehicles which he got terrible initial rates on.

I'd never finance a car, but if you have to rates right now are barely higher than mid-term CDs and offer the inherent inflation hedge.
stop2think is offline  
post #19 of 42 (permalink) Old 11-02-2012, 07:02 PM
................
 
Join Date: Jun 2012
Location: Harrington Maine
Posts: 4,183
Quote:
Originally Posted by stop2think View Post
Penfed currently offers 1.49% refinancing up to $70k, the process literally costs a few bucks and takes 15min. Definitely worth it in a lot of cases. I know a handful of people that have taken advantage of it, including my idiot brother who refinanced all 3 of his vehicles which he got terrible initial rates on.

I'd never finance a car, but if you have to rates right now are barely higher than mid-term CDs and offer the inherent inflation hedge.
I would never finance toys (bikes, sleds, etc) however a work vehicle or a primary source of transportation makes sense to finance with rates as low as they are. With interest rates so low I could keep my own money working somewhere and making more than the small amount of interest on the banks money for the short term of the loan (3 years)

I never finance a vehicle more than 3 years. They way vehicles depreciate and wear out it only makes sense. After 5 years if the vehicle is used much at all your paying on a worn out piece of equipment. Basically a vehicle is the worst possible investment that everyone has to make.
lobsterhound is offline  
post #20 of 42 (permalink) Old 11-02-2012, 08:13 PM
I eat my Night Rod
 
Join Date: Jul 2012
Location: Atlanta, GA
Posts: 538
My car is financed yes. My bike....paid for with straight cash. I'd never finance a bike or any toy either. If I'm in a bind....the first thing to go?...the bike


Sent from my iPhone using MO Free

Quote:
Originally Posted by DerrickWade View Post
My advice would be to spend a few hours washing and waxing. Make it shine like a diamond in a goats ass.
greenc51 is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Yamaha R1 Forum: YZF-R1 Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome