The Legend of Jeff Raven - Latest comments on Millionaire In Progress

In response to: Millionaire In Progress

SW Chris [Visitor] — Sat, 28 Mar 2009 19:35:43 +0000

That credit card picture should be your new online avatar. WAY TO GO!!!

In response to: Millionaire In Progress

Arche [Visitor] — Thu, 26 Mar 2009 17:46:38 +0000

that is great, JR! I admire you for everything you have done in regards to being debt free. Maybe I'll work on the same when I get back from China ;)

In response to: Millionaire In Progress

jeffraven [Member] — Thu, 26 Mar 2009 16:06:49 +0000

If I budget my money, then I won't have to use a credit card for gas and groceries. I can just use cash.

And as for lending purposes there are plenty of banks that will underwrite a loan with you having no credit. Churchill Mortgage comes to mind. They'll research your rent history, your electric bill payment history, that sort of thing. All your FICO score does is tell others your interaction with debt. Most banks want to see your net worth and if you pay your bills on time, so if they're a good bank they won't necessarily take into account your FICO score. I don't need a credit card because I'm already prepared.

In response to: Millionaire In Progress

Goober King [Member] — Thu, 26 Mar 2009 11:52:04 +0000

[quote]After all that, maybe I can spend a little on getting them whitened[/quote]

Or, y'know, spend a little on floss and TOOCHPASTE so this doesn't happen again. ;P

But seriously, glad to hear you're doing better in the money department. Personally, I would still keep one credit card lying around just to use on small stuff, like gas or groceries. That way you can easily pay it off every month and maintain a good credit score when it finally comes time to buy a house or get a loan. In the lenders' eyes, no credit is BAD credit!