Meadows posts credit score on IG, utter strangeness

[Straw Man]

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.

I know I am correct about the scoring model and again, income documentation and debt ratio has nothing to do with it so not sure why you mentioned it in the first place in the context of credit score

regarding income "docs" you can't really lie when providing docs (i.e. not tell the "truth") unless you're fabricating pay stubs, W-2's, etc..

stating a false income on an application is another thing altogether (what you said your buddy did) does not count as providing docs.  Docs = verification of income

not only have I have never been asked to provide a shred of income documentation for any credit card, I'm pretty sure I wasn't asked for anything when I got my last car loan (99% sure since it's been years since I got an auto loan).

[Humble Narcissist]

I know I am correct about the scoring model and again, income documentation and debt ratio has nothing to do with it so not sure why you mentioned it in the first place in the context of credit score

regarding income "docs" you can't really lie when providing docs (i.e. not tell the "truth") unless you're fabricating pay stubs, W-2's, etc..

stating a false income on an application is another thing altogether (what you said your buddy did) does not count as providing docs.  Docs = verification of income

not only have I have never been asked to provide a shred of income documentation for any credit card, I'm pretty sure I wasn't asked for anything when I got my last car loan (99% sure since it's been years since I got an auto loan).

Again I am not saying you have to provide documentation I am saying THEY DO ASK what your income is.  Whether you tell the truth is up to you.

[tres_taco_combo]

i am a 795 as of today - i should A + credit being in the business - i would be a hypocrite if i didnt

live below your means man...  ive been on all sides of the scale - broke and well off a few times in my life -

https://imgur.com/a/1jkyGFs

[Straw Man]

Again I am not saying you have to provide documentation I am saying THEY DO ASK what your income is.  Whether you tell the truth is up to you.

you wrote "some credit card companies ask for docs"

all I can do is respond to what you wrote.

if you meant "some credit card companies ask you to state your income" then say that next time

 

[NarcissisticDeity]

Was an 837 now I'm slumming 

[tres_taco_combo]

if you have a child - your kid should come out of the gate with 750 credit.

it is so easy for someone to get good credit from day 1 - you start clean! all you gotta do is be on time and you start with 800 +

but... it has to come from the parents

[pellius]

if you have a child - your kid should come out of the gate with 750 credit.

it is so easy for someone to get good credit from day 1 - you start clean! all you gotta do is be on time and you start with 800 +

but... it has to come from the parents

Even if you haven't built a credit history?

[Agnostic007]

I hover between 790 and 805 but I'm told there isn't much difference between 700 and 850 as far as rates. And while "live below your means" may not be insightful, it is some of the best advice out there in my opinion

[Humble Narcissist]

if you have a child - your kid should come out of the gate with 750 credit.

it is so easy for someone to get good credit from day 1 - you start clean! all you gotta do is be on time and you start with 800 +

but... it has to come from the parents

The kid needs years of credit to get to 750 you don't just start out that way.

[Agnostic007]

if you have a child - your kid should come out of the gate with 750 credit.

it is so easy for someone to get good credit from day 1 - you start clean! all you gotta do is be on time and you start with 800 +

but... it has to come from the parents

I disagree. When my father, who paid for almost everything cash, had a credit card but never used it because he believed in paying cash wanted Satellite TV, Dish network turned him down because he hadn't established a history of credit. Guy didn't owe a dime to anyone, had money in the bank, couldn't get Dish without a co signer so yeah, that baby wouldn't be able to buy a pacifier on credit. Having a history of paying on time is important

[Henda]

I disagree. When my father, who paid for almost everything cash, had a credit card but never used it because he believed in paying cash wanted Satellite TV, Dish network turned him down because he hadn't established a history of credit. Guy didn't owe a dime to anyone, had money in the bank, couldn't get Dish without a co signer so yeah, that baby wouldn't be able to buy a pacifier on credit. Having a history of paying on time is important

Exact Same thing happened to me hadn’t borrowed a penny ever in my life and I got turned down for a pay monthly phone contract ffs, it’s still in our lasses name to this day, yet was ok getting a mortgage but not sure if that is based off credit rating or not

[Agnostic007]

Exact Same thing happened to me hadn’t borrowed a penny ever in my life and I got turned down for a pay monthly phone contract ffs, it’s still in our lasses name to this day, yet was ok getting a mortgage but not sure if that is based off credit rating or not

I think credit rating is part of it, but with a mortgage they go further in depth in analyzing your income and debt to insure you can pay... or at least they are supposed to. We know what happened 10-15 years ago.

[Humble Narcissist]

you wrote "some credit card companies ask for docs"

all I can do is respond to what you wrote.

if you meant "some credit card companies ask you to state your income" then say that next time

 

Reread the posts.  I said credit card companies ask how much you make.  I never said you must provide docs.  You said that and then quoted me as saying what you said.

[tres_taco_combo]

The kid needs years of credit to get to 750 you don't just start out that way.

far from -

you can get 700 credit scores rirght out of the gate (within 1-2 years) if you do right - again this is my line of work (mortgage broker)

get a secured card with Discover and capital one and within 1-2 year a 1st time credit app  will be in the 700s assuming they dont f up and get collections or miss payments

then add a 3rd of 4th card and keep the balances at 20% of the max limit and boom - 700 + credit score within 1-2 years.

[Agnostic007]

far from -

you can get 700 credit scores rirght out of the gate (within 1-2 years) if you do right - again this is my line of work (mortgage broker)

get a secured card with Discover and capital one and within 1-2 year a 1st time credit app  will be in the 700s assuming they dont f up and get collections or miss payments

then add a 3rd of 4th card and keep the balances at 20% of the max limit and boom - 700 + credit score within 1-2 years.

As a mortgage broker I certainly respect your information. But you just said "Get a SECURED card" which means they don't trust you out of the womb

[Bevo]

I disagree. When my father, who paid for almost everything cash, had a credit card but never used it because he believed in paying cash wanted Satellite TV, Dish network turned him down because he hadn't established a history of credit. Guy didn't owe a dime to anyone, had money in the bank, couldn't get Dish without a co signer so yeah, that baby wouldn't be able to buy a pacifier on credit. Having a history of paying on time is important

Hahaha never understood idiots that think paying everything cash is a good thing  

I know a few that are like that, they never use their credit card, anti credit, and when it’s time to take a loan or get a new phone service they get rejected hahahaha

[SOMEPARTS]

That was his blood pressure not his credit score.

[Humble Narcissist]

far from -

you can get 700 credit scores rirght out of the gate (within 1-2 years) if you do right - again this is my line of work (mortgage broker)

get a secured card with Discover and capital one and within 1-2 year a 1st time credit app  will be in the 700s assuming they dont f up and get collections or miss payments

then add a 3rd of 4th card and keep the balances at 20% of the max limit and boom - 700 + credit score within 1-2 years.

Yes, 1-2 years is not right out of the gate.  I have 6 credit cards, I know how it works.

[tres_taco_combo]

As a mortgage broker I certainly respect your information. But you just said "Get a SECURED card" which means they don't trust you out of the womb

you are correct - if you need a secure card - no one trusts you
each scenario is different - if a foreign buyer for example has no credit - the best to get credit asap is a secure card (get both discover and capital one since they report on all 3 agencies)

its your best bet if you are new to credit

[tres_taco_combo]

Yes, 1-2 years is not right out of the gate.  I have 6 credit cards, I know how it works.

1 year to have 700 credit is amazing - im looking at things in decades.... so yeah 1 year might be to a long time for a certain person but i look at that as short term when you look at the big picture

[Agnostic007]

Hahaha never understood idiots that think paying everything cash is a good thing  

I know a few that are like that, they never use their credit card, anti credit, and when it’s time to take a loan or get a new phone service they get rejected hahahaha

What are you? 12?

[Bevo]

What are you? 12?

13, thanks for asking

Dumb father, dumb son, elite genetics for you

Apple doesn’t fall to far from the tree

[Agnostic007]

13, thanks for asking

Dumb father, dumb son, elite genetics for you

Apple doesn’t fall to far from the tree

says the guy that's probably still working to the guy that retired early... yeah. nice try

[tres_taco_combo]

working on a deal with 800 credit and tons of debt...

he is just always pays on time! lol

[Humble Narcissist]

working on a deal with 800 credit and tons of debt...

he is just always pays on time! lol

It is not uncommon for someone with a very high credit score to file bankruptcy.