Done with myfico, apparently!

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CarefulBuilder14
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Re: Done with myfico, apparently!

Postby CarefulBuilder14 » Wed Dec 09, 2015 9:46 pm

When people see others always pushing for more accounts and more credit, it's easy for some of them to think it's normal and sensible.
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Re: Done with myfico, apparently!

Postby kdm31091 » Wed Dec 09, 2015 10:01 pm

I do think it's definitely group psychology at play. After awhile, encouraging an 18 year old (or anyone) to apply for 6 accounts in a month just seems very normal.

LOL - monoglot now claims he got a BBR as well. So a BBR, AARP, FNBO (notoriously conservative) and Freedom all with 5 months of credit history. Right...it's like dude, just admit they are AU accounts.

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Re: Done with myfico, apparently!

Postby Nixon » Thu Dec 10, 2015 7:43 am

kdm31091 wrote:I do think it's definitely group psychology at play. After awhile, encouraging an 18 year old (or anyone) to apply for 6 accounts in a month just seems very normal.

LOL - monoglot now claims he got a BBR as well. So a BBR, AARP, FNBO (notoriously conservative) and Freedom all with 5 months of credit history. Right...it's like dude, just admit they are AU accounts.


And after he admits it, Laura will admit that she's really filed for BK again....Oh wait..
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Re: Done with myfico, apparently!

Postby 4ktvs » Sat Dec 12, 2015 12:34 am

kdm31091 wrote:I do think it's definitely group psychology at play. After awhile, encouraging an 18 year old (or anyone) to apply for 6 accounts in a month just seems very normal.

LOL - monoglot now claims he got a BBR as well. So a BBR, AARP, FNBO (notoriously conservative) and Freedom all with 5 months of credit history. Right...it's like dude, just admit they are AU accounts.


I highly doubt an 18 year old even if they did make a lot could get approved for all of that with no co-signer. The Card act of 2009 made it all a real pain to do for those under 21.

I think personally only the Discover It is his only real card with a $500 limit. After that I think the parents likely agreed to be co-account owners or he got them to apply for those and got added as an AU.

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Re: Done with myfico, apparently!

Postby kdm31091 » Sat Dec 12, 2015 9:40 am

4ktvs wrote:
kdm31091 wrote:I do think it's definitely group psychology at play. After awhile, encouraging an 18 year old (or anyone) to apply for 6 accounts in a month just seems very normal.

LOL - monoglot now claims he got a BBR as well. So a BBR, AARP, FNBO (notoriously conservative) and Freedom all with 5 months of credit history. Right...it's like dude, just admit they are AU accounts.


I highly doubt an 18 year old even if they did make a lot could get approved for all of that with no co-signer. The Card act of 2009 made it all a real pain to do for those under 21.

I think personally only the Discover It is his only real card with a $500 limit. After that I think the parents likely agreed to be co-account owners or he got them to apply for those and got added as an AU.


That too -- he honestly thinks anyone sane would believe that Discover gave him $500 a few months ago and Chase is willing to throw him 16k? Like come on. It's insulting to one's intelligence. Then again, several of those morons believe it.

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Re: Done with myfico, apparently!

Postby Nixon » Sat Dec 12, 2015 12:34 pm

You'd be surprised what an 18yr old can get approved for.
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Re: Done with myfico, apparently!

Postby CarefulBuilder14 » Sat Dec 12, 2015 12:42 pm

Rapidly growing CLs with a short history are suspicious.

Having a high income at 18 isn't necessarily impossible, though. It could be a family business, in which younger family members are overpaid as a tax dodge.

I heard about one case where the IRS hit one family with a lot of penalties. The daughter was drawing something like an $80k salary, claiming to have some major executive role.

The IRS caught her when she didn't know where the company's headquarters (where she claimed to work long hours) was located!
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
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Really not sure what I'll add next or when

kdm31091
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Re: Done with myfico, apparently!

Postby kdm31091 » Sat Dec 12, 2015 12:44 pm

Nixon wrote:You'd be surprised what an 18yr old can get approved for.


I agree; I just don't see a $500 Discover being followed by $30k in Chase exposure a couple months later. It just seems extremely unlikely.

Even if it is true, he's still another one who bought into the AARP hype lol

Plus, monoglot just made a thread that he feels he's "throwing away money" by not using 0% offers. While claiming to PIF. So in other words, he's basically saying he should go out and spend extra just because of a 0% offer. The stupidity is so high on that site. No, not using a 0% offer isn't "throwing away money"...it's great that someone young and impressionable is already learning horrible ideas about credit. He will end up racking up a bunch of charges to use the 0% and then struggle to pay it when interest does kick in. You eventually have to pay. Again, common sense, but obviously myfico is brainwashing yet another person.

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Re: Done with myfico, apparently!

Postby Nixon » Sat Dec 12, 2015 12:49 pm

kdm31091 wrote:
Nixon wrote:You'd be surprised what an 18yr old can get approved for.


I agree; I just don't see a $500 Discover being followed by $30k in Chase exposure a couple months later. It just seems extremely unlikely.

Even if it is true, he's still another one who bought into the AARP hype lol

Plus, monoglot just made a thread that he feels he's "throwing away money" by not using 0% offers. While claiming to PIF. So in other words, he's basically saying he should go out and spend extra just because of a 0% offer. The stupidity is so high on that site. No, not using a 0% offer isn't "throwing away money"...it's great that someone young and impressionable is already learning horrible ideas about credit. He will end up racking up a bunch of charges to use the 0% and then struggle to pay it when interest does kick in. You eventually have to pay. Again, common sense, but obviously myfico is brainwashing yet another person.


I've personally used a 0% offer to offset bonus checks in lieu of spending the actual money. My 401k earns more than the fee I will pay if any.
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Re: Done with myfico, apparently!

Postby kdm31091 » Sat Dec 12, 2015 12:55 pm

Nixon wrote:
kdm31091 wrote:
Nixon wrote:You'd be surprised what an 18yr old can get approved for.


I agree; I just don't see a $500 Discover being followed by $30k in Chase exposure a couple months later. It just seems extremely unlikely.

Even if it is true, he's still another one who bought into the AARP hype lol

Plus, monoglot just made a thread that he feels he's "throwing away money" by not using 0% offers. While claiming to PIF. So in other words, he's basically saying he should go out and spend extra just because of a 0% offer. The stupidity is so high on that site. No, not using a 0% offer isn't "throwing away money"...it's great that someone young and impressionable is already learning horrible ideas about credit. He will end up racking up a bunch of charges to use the 0% and then struggle to pay it when interest does kick in. You eventually have to pay. Again, common sense, but obviously myfico is brainwashing yet another person.


I've personally used a 0% offer to offset bonus checks in lieu of spending the actual money. My 401k earns more than the fee I will pay if any.


The thing is monoglot comes off like he is just desperate to use the offer whether he has any need to or not. Purposely overspending to use a 0% offer is just moronic. The money still has to be paid back.

Now, if one has a large PLANNED expense and wants to use 0% and knows they'll PIF in time, it makes perfect sense to utilize the offers. But an 18 year old looking to overspend is just going down a bad road IMO. (Plus he already said his QS is at 50% util, so worry about paying that vs creating new debt)



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