Meadows posts credit score on IG, utter strangeness

[BBSSchlemiel]

As I’ve said for sometime, eventually bodybuilders and fitness gurus have a breakdown in which they start doing and saying weird shit.

[tres_taco_combo]

good for him on having a high credit score -

does this mean he is rich? no
does this mean he can take out lots of personal loans, credit cards, auto leases, and leverage himself to death? yes

you can have an 800 credit score with $100k+ in debt
you can have an 800 credit score and be a 80 year old lady making $1000 in pension monthly and be eating cat food in the dark since you are broke and her 800 credit score isnt helping her

yes having good credit is very important - but low debt to income ratios and a good mental/emotional relationship to money is more important.

and having good credit typically is a good sign but only a small fraction.

being in this profession and seeing all kinds of credit reports - i see a lot affluent wealthy business mogal types credit isnt that great. they use tons of leverage, have tax liens, lawsuits, judgements -- you do enough business and at a higher level  you will get clipped.

even if you have a business (LLC, LP) many things end up on your personal credit report.


what is phil healths credit ?  


they need to teach personal finance in school from 6th grade to 12th year - not just ratios and formulas but the relationship with money etc

i would say... in the USA money is the greatest stressor that can be controlled but yet it eats us up! 50% of marriages are broken up due to money.

also i think it is important to have some rough/thin years to really value money and its importance

[BBSSchlemiel]

What you say is true but I still think it’s a strange post! I think he does it because he instinctively knows much of his audience are lost souls.

[tres_taco_combo]

What you say is true but I still think it’s a strange post! I think he does it because he instinctively knows much of his audience are lost souls.

it seems many in the fitness world talk finance/credit/real estate/home flipping

I pick up on this since i m a mortgage broker

also it is a humble brag too "look at me and my 850 credit score" and yes his clients are prolly clueless

[BBSSchlemiel]

it seems many in the fitness world talk finance/credit/real estate/home flipping

I pick up on this since i m a mortgage broker

also it is a humble brag too "look at me and my 850 credit score" and yes his clients are prolly clueless

I think many talk about it because they’re generally unemployable and want to somehow make money without working.

My score is now in the high 700s. I don’t see why I will post it when it gets to 800.

[The Keto Kid]

Girls show their asses to attract guys and get more likes, nothing wrong with showing off your credit score to attract the bitches.

[Coach is Back!]

As I’ve said for sometime, eventually bodybuilders and fitness gurus have a breakdown in which they start doing and saying weird shit.

Wasn't he in corporate finance before he was doing what he does now? I think it makes sense posting his is financial advice given his past. Maybe it's just a segway into saying he might be heading back to his old career? (just taking out my ass on that, I have no idea)

[BBSSchlemiel]

Wasn't he in corporate finance before he was doing what he does now? I think it makes sense posting his is financial advice given his past. Maybe it's just a segway into saying he might be heading back to his old career? (just taking out my ass on that, I have no idea)

The advice in the post is “live below your means”. That’s not insightful.

[SF1900]

Wasn't he in corporate finance before he was doing what he does now? I think it makes sense posting his is financial advice given his past. Maybe it's just a segway into saying he might be heading back to his old career? (just taking out my ass on that, I have no idea)

Coach, it seems like you're in love with Meadows (no judgment).

Whenever someone posts something negative about Meadows, you seem to try be his "knight in shining armor."

 

[BB]

Perhaps he's branching out into larger world of "life coaching" from body building coaching? I could see it. He posts his credit score, then some things on financial tips and tricks, maybe a nice cattle prod video of him doing his taxes. Next thing you know, you've got a new income stream.

.

[Straw Man]

Wasn't he in corporate finance before he was doing what he does now? I think it makes sense posting his is financial advice given his past. Maybe it's just a segway into saying he might be heading back to his old career? (just taking out my ass on that, I have no idea)

so just like every other post you've ever made on this site

[Coach is Back!]

so just like every other post you've ever made on this site

I’m sorry, how many times have you been wrong? About everything?

[BBSSchlemiel]

Girls show their asses to attract guys and get more likes, nothing wrong with showing off your credit score to attract the bitches.

He’s been married for quite some time, with two kids.

[Humble Narcissist]

good for him on having a high credit score -

does this mean he is rich? no
does this mean he can take out lots of personal loans, credit cards, auto leases, and leverage himself to death? yes

you can have an 800 credit score with $100k+ in debt
you can have an 800 credit score and be a 80 year old lady making $1000 in pension monthly and be eating cat food in the dark since you are broke and her 800 credit score isnt helping her

yes having good credit is very important - but low debt to income ratios and a good mental/emotional relationship to money is more important.

and having good credit typically is a good sign but only a small fraction.

being in this profession and seeing all kinds of credit reports - i see a lot affluent wealthy business mogal types credit isnt that great. they use tons of leverage, have tax liens, lawsuits, judgements -- you do enough business and at a higher level  you will get clipped.

even if you have a business (LLC, LP) many things end up on your personal credit report.


what is phil healths credit ?  


they need to teach personal finance in school from 6th grade to 12th year - not just ratios and formulas but the relationship with money etc

i would say... in the USA money is the greatest stressor that can be controlled but yet it eats us up! 50% of marriages are broken up due to money.

also i think it is important to have some rough/thin years to really value money and its importance

Good post but low debt to income ratio does effect the credit score.

[Straw Man]

Good post but low debt to income ratio does effect the credit score.

debt to income ratio would be calculated for a specific transaction (such as buying a house) and has NOTHING to do with a credit score. It is not part of the credit score model (again - a debt ratio is transaction specific)

Credit Utilization (the amount of outstanding balance compared to the credit limit) most definitely has an impact on credit score

[Humble Narcissist]

debt to income ratio would be calculated for a specific transaction (such as buying a house) and has NOTHING to do with a credit score. It is not part of the credit score model (again - a debt ratio is transaction specific)

Credit Utilization (the amount of outstanding balance compared to the credit limit) most definitely has an impact on credit score

Technically it doesn't but everyone asks for income and factors that into giving you the loan or not. Example: credit card companies.  You can have a 750 credit score but if you have no income you aren't getting the card.

[tres_taco_combo]

debt to income ratios do not effect credit - the credit agencies have no idea on your income??? so they dont look at DTI  - the underwriter will at credit score + debt to income ratios but the credit agencies dont care about your income.

again you see 80 year old ladies with $2000 a month pension + SSI with an 800 credit score. very little income but flawless payment history

 but maxed credit cards will hit you hard


not get in too much detail with the credit process - fun fact they change the algo process all the time - transunion equifax and experian all have their own scoring models. a little different

quick recap how to get good credit
-never be late on anything
-keep credit limits at 30% of the max aval credit limit - $1000 max limit - never allow balance to get over $300 a month
-length of credit- have a good length of credit
-mix of credit

if you need to build credit since you do not have any - get 2 secure credit cards (Discover and Capital one)


most ppl have poor credit or credit issues since they are late, have collections, charge offs etc

if you are just not late - you will be 700 +

for financing (mortgages, credit cards, auto loans) the pricing is pretty much the same once you are 760 + so an 850 and a 761 will get the same mortgage rate assume all things being equal.

[Straw Man]

Technically it doesn't but everyone asks for income and factors that into giving you the loan or not. Example: credit card companies.  You can have a 750 credit score but if you have no income you aren't getting the card.

some cards ask for income docs and others do not (I've never had to provide any income docs when getting a credit card)

either way, debt to income ratio has ZERO impact on your credit score. It's not part of the formula in the scoring model

[Humble Narcissist]

some cards ask for income docs and others do not (I've never had to provide any income docs when getting a credit card)

either way, debt to income ratio has ZERO impact on your credit score. It's not part of the formula in the scoring model

You are correct on score.  I see what you did there on saying some credit card companies ask for docs and others don't.  Correct BUT they do ask.  Whether you tell them the truth is up to you.  I have a buddy who has never had a job and always tells them he makes over $200,000 a year as an author and he now has like $80,000 in available credit.

[tres_taco_combo]

if there is anything this society needs to personal finance class year after year from 6th grade through 12th grade

but personal finance isn't too difficult. it is more will power than mathematics and complex formulas.

for me - I use CC's all the time and i have a boatload of them - but i am starting pay more with cash... i spend less, plus I like keep my life as simple as possible - hell I have venmo, paypal and apple pay as well too but use those only when I have too..

car payments and eating out kills people's money like nothing else

[robcguns]

Technically it doesn't but everyone asks for income and factors that into giving you the loan or not. Example: credit card companies.  You can have a 750 credit score but if you have no income you aren't getting the card.

My wife has no income and has never had to prove income and has a capital one card with 30k limit.Also I’ve never had to prove income.

[Humble Narcissist]

if there is anything this society needs to personal finance class year after year from 6th grade through 12th grade

but personal finance isn't too difficult. it is more will power than mathematics and complex formulas.

for me - I use CC's all the time and i have a boatload of them - but i am starting pay more with cash... i spend less, plus I like keep my life as simple as possible - hell I have venmo, paypal and apple pay as well too but use those only when I have too..

car payments and eating out kills people's money like nothing else

I pay for everything with a credit card and pay it off completely before any interest kicks in.  Easier than carrying cash around or writing checks plus it helps your score to have evolving credit every month.

[tres_taco_combo]

My wife has no income and has never had to prove income and has a capital one card with 30k limit.Also I’ve never had to prove income.

take out a mortgage you will need too
business loan you will need too
personal loan/personal line of credit - good chance you might

credit cards they dont verify income but they have algos that can gauge an income based on age, location, job occupation etc etc but they make you send over tax returns.

[Humble Narcissist]

My wife has no income and has never had to prove income and has a capital one card with 30k limit.Also I’ve never had to prove income.

True, she doesn't have to PROVE income but they do ask.  I've never not been asked my income when applying for a credit card.

[robcguns]

True, she doesn't have to PROVE income but they do ask.  I've never not been asked my income when applying for a credit card.

Yes they always ask but seem to never verify.In her case anyways.