C-Fizzy Posted March 19, 2012 Author Report Share Posted March 19, 2012 I'm not a student. Lol Quote under construction I hate People with crappy primered cars rolling on hubcaps that are louder then me. u hate c-fizzy? Link to comment Share on other sites More sharing options...
TeamHT Posted March 19, 2012 Report Share Posted March 19, 2012 Here's part of the problem that many seem to overlook. A signature loan is one of the worst things you can do in terms of approval and interest rate. And the biggest reason is that it isn't a revolving line of credit, but still a loan with nothing collateralizing it. My advise would be to find your local credit union, and see what programs they offer. A collateralized loan is best if possible, and a credit card is better than a signature loan. But on a $900 monthly income...I don't see it happening. Not for the amount you seek, especially without credit. Your DTI would be too high, for an unsecured loan they would like to keep your DTI below 15-20%. Financial institutions will still need to put a monthly expense regardless if you lived with Oprah, so generally they factor at least $350-$450 a month. Which would give you about $450-$550 a month of allowance and a loan of that size would push your debt-to-income past what they see as a safe investment. But there may be something your local credit union can do. Never too late to start planning your financial future. Quote Tell me...does this smell like chloroform to you? Link to comment Share on other sites More sharing options...
C-Fizzy Posted March 19, 2012 Author Report Share Posted March 19, 2012 Thanks for that advice HT. I'll go to the local credit union tomorrow. Quote under construction I hate People with crappy primered cars rolling on hubcaps that are louder then me. u hate c-fizzy? Link to comment Share on other sites More sharing options...
sprkn_ranger Posted March 19, 2012 Report Share Posted March 19, 2012 My advice is to stay the fuck away from credit all together...if you can't pay cash for it then don't get it. And as far as build your credit score, well if you don't borrow money for anything, then you really don't need credit the only thing worth getting a loan for IMO is a house, and if you have a good down payment and a good steady work history, then you can find a mortgage lender to finance you with a zero credit score. That's just my opinion...nothing more Good luck man! Quote Check out my build log! 4 Havocs in a blowthrough http://www.stevemeadedesigns.com/board/topic/187506-sprkn-rangers-blowthrough-build/ Link to comment Share on other sites More sharing options...
TeamHT Posted March 19, 2012 Report Share Posted March 19, 2012 Thanks for that advice HT. I'll go to the local credit union tomorrow. I bank with Wells Fargo simply because of their business accounts and merchant services. But I bank with Credit Union 1 and Denali Alaska Federal Credit Union for all my personal accounts, auto loans, mortgages, and credit cards. I've also worked at Wells Fargo as a business banker for 2 years and a Financial Services Officer at Denali Alaska FCU for a year. I hope the best for you :cheers: Quote Tell me...does this smell like chloroform to you? Link to comment Share on other sites More sharing options...
Trey_Dog650 Posted March 19, 2012 Report Share Posted March 19, 2012 Probably won't get that loan without a co-signer. I know your not a student but maybe you can fudge it with the bank your at and get a student CC? I got mine approved and it was like 600 when I was 18. Now it's at 1200 and I have another one from another bank for 5000 and that bill me later stuff is like 1200 for me. And a best buy cc for 1000. Just make your payment on time and always try to pay more than the minimum! Quote 13 Kia Forte Build! 07 Hyundai Accent Build ***Super Seller*** N8ball2013 And then he gets to say ok all you guys were right. im sorry for being a dummy poo poo head. Link to comment Share on other sites More sharing options...
Freshman6969 Posted March 19, 2012 Report Share Posted March 19, 2012 another good way to start establishing credit is get a secured credit card from you bank, its something along the lines of you give your self a limit of say 300$ a month, and you have 1 full month to pay that off, if you dont it gets directly taken out of your account, so either way its getting paid off as long as you have money in there, or get a gas card, stuff like that that you know you can afford Quote Legal TL scores145.6 on the dash sealed up in the low 40hz area with the port out145.5 on the dash sealed up @30hz with the port inless then 1k clamped on a 3.5k! Why would you EVER WANT flex?huh?...flex is what can make the lows lower and more air being pushed correct? My FeedbackJeep-BuildlogPT LOSER buildlog Link to comment Share on other sites More sharing options...
Trey_Dog650 Posted March 19, 2012 Report Share Posted March 19, 2012 Also I just turned 20 a few months ago, so credit is easy to build. Just don't go to crazy with it Quote 13 Kia Forte Build! 07 Hyundai Accent Build ***Super Seller*** N8ball2013 And then he gets to say ok all you guys were right. im sorry for being a dummy poo poo head. Link to comment Share on other sites More sharing options...
TeamHT Posted March 19, 2012 Report Share Posted March 19, 2012 My advice is to stay the fuck away from credit all together...if you can't pay cash for it then don't get it. And as far as build your credit score, well if you don't borrow money for anything, then you really don't need credit the only thing worth getting a loan for IMO is a house, and if you have a good down payment and a good steady work history, then you can find a mortgage lender to finance you with a zero credit score. That's just my opinion...nothing more Good luck man! Wrong. 550 was the minimum score and that was with an outrageous interest rate. Now I believe the minimum is 620, which is even more closely regulated due to the housing bubble crashing. And debt is a good thing. There is nothing wrong with debt at all. The point is to make sure you accumulate good debt. A house, a car, and a credit card can keep almost anyone content and happy. When I was 18, I got a Bank of America credit card. $3,000 limit. After a year with my income and credit I was offered a credit increase....to $10,000. And I got a Chase credit card for $3,500. And within 2 months I had maxxed out both cards and was not making the money I was. My credit was so fucked but I learn things the hard way. Quote Tell me...does this smell like chloroform to you? Link to comment Share on other sites More sharing options...
El1T3Bass Posted March 19, 2012 Report Share Posted March 19, 2012 im 16 and just got a $3300 loan, i have no credit whats so ever. just have your parents or someone with reputable credit co-sign, but a couple hundred down and you should be set Quote wow now this just shows that smd isnt just any forum. We are a brother hood. here let me put it in retard-onix for u aareehhhh duuuurrrrr ehhh got it now? Sweet baby jesus the amount of quoting the quote above the quote in a quote is epic Link to comment Share on other sites More sharing options...
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