Cash/Check/Credit/Debit - Page 4

monster · 06-08-2009, 11:10 PM

Quote:

Originally Posted by Stormieweather

ps...paying it all off every month is not good (for your rating),

We pay ours off every month and have done forever and have a great credit rating. debunked.

Aliantha · 06-08-2009, 11:11 PM

Yeah...our credit rating is great and we pay ours off every month too.

monster · 06-08-2009, 11:13 PM

So Stormie -sorry to seem to be picking on you but you're currently my most real example- would you pay membership to this site if their advice was to pay off as much as you can and reduce your credit limits where possible? And that was it?

Aliantha · 06-08-2009, 11:16 PM

my understanding of credit ratings after having worked in the banking sector (admittedly quite a few years ago) is that your actual rating is only affected by black marks when you miss payments, and even then, it's normally a manual process for a company to 'report' your default. Also, it's possible at times to negotiate with companies you've defaulted with to have those defaults removed from your rating.

monster · 06-08-2009, 11:17 PM

Right. and it's that rating coupled with your potential balance (i.e. what you could owe if you maxed out everything tomorrow) that determine whether you can get a new loan or not.

Aliantha · 06-08-2009, 11:18 PM

exactly

monster · 06-08-2009, 11:20 PM

If you pay for debt counselling/credit record advice, is it in their interests to help you get out of debt/improve the situation quickly and efficiently? or just slowly enough that you can see progress so you think it's working? i bet they offer a "maintenance program" once you're finally clear of debt and your rating is OK.

monster · 06-08-2009, 11:20 PM

oooh it's the ali and monster show....who'd'a thunk it

Aliantha · 06-08-2009, 11:21 PM

I think that question should go in the navel gazing forum. lol

monster · 06-08-2009, 11:23 PM

poor old stormie, I'm sorry, I'm really not picking on you, you just popped up right in the middle of me letting off steam....

Aliantha · 06-08-2009, 11:25 PM

What are you all steamed up about?

monster · 06-08-2009, 11:26 PM

people with bad credit records dispensing bad credit advice....

Aliantha · 06-08-2009, 11:27 PM

lol...is something that doesn't affect you really worth getting steamed up about though?

monster · 06-08-2009, 11:30 PM

no, that's why I like to let off a little (guffaw)

monster · 06-08-2009, 11:30 PM

(is "let off" just a brit euphemism?)

06-08-2009, 11:11 PM	#47
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	Yeah...our credit rating is great and we pay ours off every month too. __________________ Kind words are the music of the world. F. W. Faber

06-08-2009, 11:13 PM	#48
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	So Stormie -sorry to seem to be picking on you but you're currently my most real example- would you pay membership to this site if their advice was to pay off as much as you can and reduce your credit limits where possible? And that was it? __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

06-08-2009, 11:16 PM	#49
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	my understanding of credit ratings after having worked in the banking sector (admittedly quite a few years ago) is that your actual rating is only affected by black marks when you miss payments, and even then, it's normally a manual process for a company to 'report' your default. Also, it's possible at times to negotiate with companies you've defaulted with to have those defaults removed from your rating. __________________ Kind words are the music of the world. F. W. Faber

06-08-2009, 11:17 PM	#50
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	Right. and it's that rating coupled with your potential balance (i.e. what you could owe if you maxed out everything tomorrow) that determine whether you can get a new loan or not. __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

06-08-2009, 11:18 PM	#51
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	exactly __________________ Kind words are the music of the world. F. W. Faber

06-08-2009, 11:20 PM	#52
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	If you pay for debt counselling/credit record advice, is it in their interests to help you get out of debt/improve the situation quickly and efficiently? or just slowly enough that you can see progress so you think it's working? i bet they offer a "maintenance program" once you're finally clear of debt and your rating is OK. __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

06-08-2009, 11:21 PM	#54
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	I think that question should go in the navel gazing forum. lol __________________ Kind words are the music of the world. F. W. Faber

06-08-2009, 11:23 PM	#55
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	poor old stormie, I'm sorry, I'm really not picking on you, you just popped up right in the middle of me letting off steam.... __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

06-08-2009, 11:25 PM	#56
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	What are you all steamed up about? __________________ Kind words are the music of the world. F. W. Faber

06-08-2009, 11:26 PM	#57
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	people with bad credit records dispensing bad credit advice.... __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

06-08-2009, 11:27 PM	#58
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	lol...is something that doesn't affect you really worth getting steamed up about though? __________________ Kind words are the music of the world. F. W. Faber

06-08-2009, 11:30 PM	#59
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	no, that's why I like to let off a little (guffaw) __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

06-08-2009, 11:30 PM	#60
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	(is "let off" just a brit euphemism?) __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

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