Get in here credit score specialists

[Big Chiro Flex]

Trying to secure a decent rate on a business loan. Current score is 720, but I'm told if I can boost my score my rate will be better. Any tips besides "fuck off"?  I have about 14 months to make improvements.

[Knooger]

Fuck off. Hope this helps.

[Big Chiro Flex]

 

[_aj_]

720 is an excellent score.

The only thing that I have heard (and I don't even know that it is true) is to open a credit card, charge something relatively large (a couple grand) and then pay it off quickly, but not too quick (divide the amount by 4 and sent that for 4 months).

Supposedly, you get dinged if you make minimum payments OR if you pay it off immediately.

[Mr Anabolic]

Run up all your credit cards and have a ball before the riots start.

[Knooger]

I would have added "you look like shit" but then someone would post my pic and I'd be owned.

[Big Chiro Flex]

720 is an excellent score.

The only thing that I have heard (and I don't even know that it is true) is to open a credit card, charge something relatively large (a couple grand) and then pay it off quickly, but not too quick (divide the amount by 4 and sent that for 4 months).

Supposedly, you get dinged if you make minimum payments OR if you pay it off immediately.

Thanks AJ. I thought it was good too, but banks are telling me it's "ok", not "great" if I'm looking to borrow their money.  

I've been fucking around with the credit card manipulation tricks....just seems like a very slow process, curious if there's anything better.

Perhaps Ron Avidan will consign for me

[Big Chiro Flex]

I would have added "you look like shit" but then someone would post my pic and I'd be owned.

Love to crack me one off to those pics...

[Knooger]

Love to crack me one off to those pics...

Your credit might suck, but you have great taste.

[ChopperRider]

720 is an excellent score.

The only thing that I have heard (and I don't even know that it is true) is to open a credit card, charge something relatively large (a couple grand) and then pay it off quickly, but not too quick (divide the amount by 4 and sent that for 4 months).

Supposedly, you get dinged if you make minimum payments OR if you pay it off immediately.

720 is not an excellent credit score. It's a housewife or bank teller type credit score.

Your children will hate you for being a fuck up and causing them to miss out on everything during their childhoods.

[calfzilla]

Starting a business on a loan is a terrible idea. Sounds like you are being a slave to FICO. Basically credit scores measure how good you are at going into debt and paying on that debt. Doesn't mean you are wealthy or smart with money. My suggestion is google Dave Ramsey and avoid taking additional loans. BUT since that's not the advice you were looking for I will leave you this instead: 

Would love to be your credit score. 

[Big Chiro Flex]

Starting a business on a loan is a terrible idea. Sounds like you are being a slave to FICO. Basically credit scores measure how good you are at going into debt and paying on that debt. Doesn't mean you are wealthy or smart with money. My suggestion is google Dave Ramsey and avoid taking additional loans. BUT since that's not the advice you were looking for I will leave you this instead:  

Would love to be your credit score.  

That's a very nice concept but How else do I pay for start up costs, leasing costs, etc

[calfzilla]

Start the business super small out of pocket and grow it. Or work and save up the amount of money you were going to borrow. 

[Big Chiro Flex]

Start the business super small out of pocket and grow it. Or work and save up the amount of money you were going to borrow. 

I would be Wes' age by then 

[Grape Ape]

Or work and save up the amount of money you were going to borrow. 

If he's ready to go, I would say that the opportunity cost lost by delaying startup is a lot worse than loan interest.

[Grape Ape]

You have 14 months?  Charge every single fucking thing and have auto payment set up to pay on time.

I charge almost everything I can.

[calfzilla]

If he's ready to go, I would say that the opportunity cost lost by delaying startup is a lot worse than loan interest.

What if the business fails?

[Grape Ape]

What if the business fails?

He's still out the money either way.  At least with a loan, he's not out of pocket all his money instantly.

[Knooger]

What if the business fails?

He could set up a paypal account and we could cover the losses.

[_aj_]

You have 14 months?  Charge every single fucking thing and have auto payment set up to pay on time.

I charge almost everything I can.

My wife and I are both in the 800's. We use one credit card, AMEX, and charge everything except the mortgage and utilities. We routinely send over $6000 a month to AMEX. We are awash in AMEX points too.

[polychronopolous]

Trying to secure a decent rate on a business loan. Current score is 720, but I'm told if I can boost my score my rate will be better. Any tips besides "fuck off"?  I have about 14 months to make improvements.

Stopped reading at this point.

[polychronopolous]

You have 14 months?  Charge every single fucking thing and have auto payment set up to pay on time.

I charge almost everything I can.

Does that work well with just one credit card or do you get a better score with utilizing multiple ones?

[Grape Ape]

My wife and I are both in the 800's. We use one credit card, AMEX, and charge everything except the mortgage and utilities. We routinely send over $6000 a month to AMEX. We are awash in AMEX points too.

We do the exactly same thing, except with a rewards visa card.  Charge ridiculous amounts.

[Grape Ape]

Does that work well with just one credit card or do you get a better score with utilizing multiple ones?

I don't know poly.  I do know that sometimes your score can be hurt by canceling "open" cards, but I'm not sure if there's any exponential value in spreading purchases across multiple cards.

Prince Fielder sucks.

[the trainer]

Trying to secure a decent rate on a business loan. Current score is 720, but I'm told if I can boost my score my rate will be better. Any tips besides "fuck off"?  I have about 14 months to make improvements.

I have a loanshark that can lend you money at a decent interest rate but if you are late with the payments you will be beaten and ass raped if you agree to this then we can do business.