Random rant about bad credit decisions

For just about anything you want to get off your chest about credit cards.
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Kevin86475391
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Re: Random rant about bad credit decisions

Postby Kevin86475391 » Fri Oct 09, 2015 11:15 pm

Oh I love xkcd! Didn't expect to find them turning up in a credit thread, lol.

Anyway, regarding the topic at hand, I find I'm much more likely to get frustrated with people's reactions to their bad credit decisions than their decisions in the first place. Like if someone wants to go out and apply for 20 store cards if it makes them happy and they're convinced it's a good idea - I'm not going to waste my breathe trying to stop them...but then if they're later like, "OMG! My scores took a huge hit and now my cards are starting to get shut down. This is so unfair!!" Then that's when I get frustrated with them.


Vermonster
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Re: Random rant about bad credit decisions

Postby Vermonster » Sat Oct 10, 2015 8:03 am

I guess this isn't really a credit issue, but more of a financial issue.

I have a friend that is going through a rough bit in life, emotionally. She used to have a financed Hyundai Elantra with about 3 years left on the loan. Its a perfectly fine car for a college student living at home. Next thing I know she has a brand new Mustang GT. I understand that sometimes you just need a change, and after everything she's been through it might be better to have gotten away from that Elantra. But not even 2 weeks later, she is posting about how she just bought a new Hyundai SUV, fully loaded. Her reason was "it snows in NJ, so I won't be able to drive the mustang in the winter."

She graduates in 2 years. I can guarantee one of these two cars is not going to make it that far. If by some miracle they both do I would be interested to see what payments for student loans and two auto loans are going to look like.
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Vattené
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Re: Random rant about bad credit decisions

Postby Vattené » Sat Oct 10, 2015 10:58 am

Kevin86475391 wrote:Oh I love xkcd! Didn't expect to find them turning up in a credit thread, lol.

True Story: I took an online class and included a link to a pertinent xkcd comic in one of my homework submissions. The professor liked it enough to give me extra credit on it. Totally didn't expect it.

Ok, I'm done derailing now.

Vermonster wrote:I have a friend that is going through a rough bit in life, emotionally. She used to have a financed Hyundai Elantra with about 3 years left on the loan. Its a perfectly fine car for a college student living at home. Next thing I know she has a brand new Mustang GT. I understand that sometimes you just need a change, and after everything she's been through it might be better to have gotten away from that Elantra. But not even 2 weeks later, she is posting about how she just bought a new Hyundai SUV, fully loaded. Her reason was "it snows in NJ, so I won't be able to drive the mustang in the winter."

She graduates in 2 years. I can guarantee one of these two cars is not going to make it that far. If by some miracle they both do I would be interested to see what payments for student loans and two auto loans are going to look like.


Oh wow, at first I thought you meant she traded in the Mustang already for a new SUV! I definitely know the type that trade in cars about as often as they change underwear, and I personally couldn't even consider doing that. I try not to be too judgmental - both towards them and your friend. It's their money to spend, after all. But two brand new car payments at once? I would hate that. This coming from someone still driving the first car he got at 16, though.
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plus several store accounts of varying usefulness now

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Re: Random rant about bad credit decisions

Postby JonE » Sat Oct 10, 2015 3:36 pm

kdm31091 wrote:
Vermonster wrote:99% of the stuff said on MF is complete bullshit. It is probably one of the more vain websites on the internet. People continually contradict themselves and weave these intricate stories just to up their post count. If what was said on MF was any indication of reality, Bankruptcy would be as regular as my BM's, everyone would have 5 or 6 $20k+ limit cards and 20-30 store cards with $500 limits, 800 FICO scores, ridiculous mortgage and auto loan rates, and any derogs would be because a girlfriend/boyfriend/brother/uncle/plumber/dachshund borrowed a credit card and forgot to pay it.


Any way.


Yeah honestly I call BS on a lot of the people there. I doubt many of them have the cards, limits and income they claim they have. If you believe everything they say, it would seem 90% of our population can justify carrying and paying for an Amex Plat, and a CSP, and 5 hotel cards. It makes no sense. Yes, some people travel a lot, but most people are not traveling every week like these people act like they are.

I agree with lobbythis, we're probably too worried about it, but it's fun to pick them apart lol.


I'm pretty sure you can add me to the banned list since I don't have 'sufficient privileges' to post after calling out a thread on paying a credit card bill WITH a credit card. ;)

EDIT: Oh look, I'm back!
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Re: Random rant about bad credit decisions

Postby Nixon » Sat Oct 10, 2015 8:11 pm

JonE wrote:
kdm31091 wrote:
Vermonster wrote:99% of the stuff said on MF is complete bullshit. It is probably one of the more vain websites on the internet. People continually contradict themselves and weave these intricate stories just to up their post count. If what was said on MF was any indication of reality, Bankruptcy would be as regular as my BM's, everyone would have 5 or 6 $20k+ limit cards and 20-30 store cards with $500 limits, 800 FICO scores, ridiculous mortgage and auto loan rates, and any derogs would be because a girlfriend/boyfriend/brother/uncle/plumber/dachshund borrowed a credit card and forgot to pay it.


Any way.


Yeah honestly I call BS on a lot of the people there. I doubt many of them have the cards, limits and income they claim they have. If you believe everything they say, it would seem 90% of our population can justify carrying and paying for an Amex Plat, and a CSP, and 5 hotel cards. It makes no sense. Yes, some people travel a lot, but most people are not traveling every week like these people act like they are.

I agree with lobbythis, we're probably too worried about it, but it's fun to pick them apart lol.


I'm pretty sure you can add me to the banned list since I don't have 'sufficient privileges' to post after calling out a thread on paying a credit card bill WITH a credit card. ;)

EDIT: Oh look, I'm back!


My account is still banned with the same bullshit message from MVV. Another stupid thing about MyFICO, When they ban your account they pretty much close off all avenues. Can't post, can't read messages, can't even read the site unless you fire up Tor or snag a diff IP. You can't contest the ban and it's guilty until proven otherwise...

This leads to the other issue with that site. Consistency... If you follow the party line "congratsx1,000" then you pretty much get away with whatever with quiet edits and PM's amongst "friends" the norm. If you're honest and call people on their BS (Not sure how Kevin gets away with this anymore.) your time will be short there with little interaction eventually leading to that pink screen stating you are dead to them.
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Gamma
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Re: Random rant about bad credit decisions

Postby Gamma » Sat Oct 10, 2015 9:00 pm

Nixon wrote:My account is still banned with the same bullshit message from MVV. Another stupid thing about MyFICO, When they ban your account they pretty much close off all avenues. Can't post, can't read messages, can't even read the site unless you fire up Tor or snag a diff IP. You can't contest the ban and it's guilty until proven otherwise...

This leads to the other issue with that site. Consistency... If you follow the party line "congratsx1,000" then you pretty much get away with whatever with quiet edits and PM's amongst "friends" the norm. If you're honest and call people on their BS (Not sure how Kevin gets away with this anymore.) your time will be short there with little interaction eventually leading to that pink screen stating you are dead to them.

What got you banned?

Nixon
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Re: Random rant about bad credit decisions

Postby Nixon » Sat Oct 10, 2015 9:21 pm

Gamma wrote:
Nixon wrote:My account is still banned with the same bullshit message from MVV. Another stupid thing about MyFICO, When they ban your account they pretty much close off all avenues. Can't post, can't read messages, can't even read the site unless you fire up Tor or snag a diff IP. You can't contest the ban and it's guilty until proven otherwise...

This leads to the other issue with that site. Consistency... If you follow the party line "congratsx1,000" then you pretty much get away with whatever with quiet edits and PM's amongst "friends" the norm. If you're honest and call people on their BS (Not sure how Kevin gets away with this anymore.) your time will be short there with little interaction eventually leading to that pink screen stating you are dead to them.

What got you banned?


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Gamma
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Re: Random rant about bad credit decisions

Postby Gamma » Sun Oct 11, 2015 12:22 am

Nixon wrote:
Gamma wrote:
Nixon wrote:My account is still banned with the same bullshit message from MVV. Another stupid thing about MyFICO, When they ban your account they pretty much close off all avenues. Can't post, can't read messages, can't even read the site unless you fire up Tor or snag a diff IP. You can't contest the ban and it's guilty until proven otherwise...

This leads to the other issue with that site. Consistency... If you follow the party line "congratsx1,000" then you pretty much get away with whatever with quiet edits and PM's amongst "friends" the norm. If you're honest and call people on their BS (Not sure how Kevin gets away with this anymore.) your time will be short there with little interaction eventually leading to that pink screen stating you are dead to them.

What got you banned?


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I wonder how old these mods are. It baffles me how they would function in real life compared to how they run that site. Mod abuse at its finest.

kdm31091
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Re: Random rant about bad credit decisions

Postby kdm31091 » Sun Oct 11, 2015 8:52 am

I'm very honest on there and some people really appreciate it -- I've gotten "thank you for being so honest with me" type of PMs -- but others get annoyed and argumentative when I tell them that the 20 people advising them to "just app!" are crazy people. Honestly, I think a lot of these people are so addicted to credit that they egg on others to app so they can feel some type of rush. It's very, very strange.

I have gotten some warnings, but no bans for awhile as I've tried to keep my honesty in check. It's hard sometimes though. The solution lately has simply been posting way less often as a lot of the threads make my brain hurt. The recent 20 page thread with Sallie Mae where everyone basically decided I was a horrible person for telling them their card would likely eventually be nerfed was the icing on the cake.

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Re: Random rant about bad credit decisions

Postby Nixon » Sun Oct 11, 2015 2:50 pm

kdm31091 wrote:I'm very honest on there and some people really appreciate it -- I've gotten "thank you for being so honest with me" type of PMs -- but others get annoyed and argumentative when I tell them that the 20 people advising them to "just app!" are crazy people. Honestly, I think a lot of these people are so addicted to credit that they egg on others to app so they can feel some type of rush. It's very, very strange.

I have gotten some warnings, but no bans for awhile as I've tried to keep my honesty in check. It's hard sometimes though. The solution lately has simply been posting way less often as a lot of the threads make my brain hurt. The recent 20 page thread with Sallie Mae where everyone basically decided I was a horrible person for telling them their card would likely eventually be nerfed was the icing on the cake.

I don't think you were "honest" enough in this thread.

http://ficoforums.myfico.com/t5/Credit- ... -p/4272043

There isnt enough brains in the world to fix that kinda stupid.
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