• 6 Posts
  • 78 Comments
Joined 1 year ago
Cake day: June 15th, 2023
  • RedClouds@lemmygrad.mltoMemes@lemmygrad.ml•Americans be like
    9·
    6 months ago

    Ehhhhh, kinda.

    Some credit card companies make their information more public.

    Almost all across the board take on-time payment history as their largest contributing factor of the credit score, 35% according to my report. This means that any missed payments on anything will dramatically reduce your credit score. These hits on your score last, I believe, five years.

    Next, at 30%, is only utilizing a small amount of your total credit. Now in such a case, you can get a very low amount of credit and use very little of it. This is fine. But if you’re going to use your credit card for actual things, which takes advantage of getting points and bonuses and yada yada, then you need a lot of credit. As someone with a $15,000 limit on one credit card, I am able to keep my credit usage by percentage very low.

    Next, add only 15% of your credit score, which is still big, but not as big as the others, is credit age. 0-2 years is only the starting place. Your credit age is average between three and seven years and it only becomes good when it’s over seven years. You can only achieve an excellent in this category with 25 or more years of continuous credit usage. This is by far the absolute hardest part of your credit score to increase. The best way to have a good credit score at a young age like in your 20s is if your parents opened one with you and put you on their good credit score when you were in your teens. This can be very dangerous for people who don’t have enough money to pay off their card every month and can spiral you into debt really fast.

    Having $50,000 or more in credit limit is optimal for the highest credit scores. Considering they do income checks when you apply for a credit card, you absolutely will not have a high credit limit on any one card unless you make a lot of money.

    Next and the smallest amount of effect on your credit score is new accounts and recent inquieries. This means you can’t go get a bunch of new credit cards all at once, or else your credit score will tank. And if you buy two cars and a house in one year, you should wait a good three years before applying for anything else, less you hit your credit score.

    Sorry for the brain dump. I had experience with this as a liberal and learned a lot about it. Just the high credit limit, old credit age, and low utilization requirements, means that basically anybody who is poor is going to have a hard time getting high credit.

    Mistakes at least do go off your credit history. I actually had defaulted on a loan when I was younger and really fucked things up and my credit score was garbage. But now it is routinely over 800 when I check it, and it’s been over 850 when companies have checked it. I got my morgage at 2.4%… Good credit is cheap to maintain once you have some money… But not impossible if you have less. Just really hard.

  • RedClouds@lemmygrad.mltoMemes@lemmygrad.ml•Americans be like
    18·
    7 months ago

    Yogthos answer is great, To add more context, and be a bit more negative… the credit score effectively incentivises spending a lot of money and taking out a lot of loans, and by taking out a lot of money and by paying them off, you get better credit, which means only the people who can take on big loans and pay them off get better credit. Basically only rich people have good credit, which means basically only rich people can buy houses and cars and things like that. It perpetuates a cycle for the rich getting richer and the poor staying poor.

    Remember, in America, houses are an investment. You can use them to collect rent and, in general, line should go up, so your investment will gain in value over time on average.

  • RedClouds@lemmygrad.mltoMemes@lemmygrad.ml•Americans be like
    19·
    7 months ago

    I am a totally real person who actually has bought land in China and knows that the government is extremely authoritarian.

    And it’s against the rules to lie in the internet and you can trust everyone for what they say… Certainly there isn’t any evidence of people lying on the internet…

    Thick skulls indeed…

    Go spread your fake conspiracy theory somewhere else, you fucking fascist. People here aren’t gonna buy your bullshit lies.

    You don’t own the land underneath your feet in America, But in China, at least the land is owned collectively.

    Oh, that’s right. In actuality, the government doesn’t own the land in China. The people do. The government just manages it for the people. So, in essence, every single person in China actually owns a part of the land they stand on. How interesting. Socialism is a very interesting system, isn’t it? And considering 94% of people own a home in China, I think their reputation for land ownership is significantly outpacing the United States reputation for land ownership.

    But as a totally real person who actually bought land in China, you already know these facts, don’t you?

  • RedClouds@lemmygrad.mltoMemes@lemmygrad.ml•Authoritarian
    301·
    8 months ago

    That’s because you’re a nobody.

    I know this guy’s already been banned and he can’t respond to this, but I just had to fucking say it.

    What liberals don’t get is that you’re only allowed to exist and argue against the state if you are effectively not a real threat.

    They don’t have to kill anybody in the CPUSA because they aren’t a very effective group at making political change (right now), but the Black Panthers? Well, that was a different story…

    A regular old citizen of Germany was arrested for posting on a social media post “from the river to the sea”, They didn’t even have to finish it. That was the only thing they said. Capitalist states disappear people all the time, It just depends on how fascist they are. And Germany is pretty fascist right now. The United States is in fact trying to destroy TikTok for its freedom of speech (I’m sure for other reasons too, as they probably just want an American bourgeois to make money off of it.).

  • RedClouds@lemmygrad.mltoMemes@lemmygrad.ml•Chinese Economy Collapsing
    2·
    9 months ago

    Shoot, I don’t have it offhand but you should send the Ben Norton video back, where he talked about how China is letting their property sector fail in order to shift their economy to being focused on green energy and tech.

    As well, he mentions how morally corrupt it is to use property as an investment and how shifting where your investments are is actually a better idea.

  • RedClouds@lemmygrad.mltoComradeship // Freechat@lemmygrad.ml•heated arguments with my dad
    111·
    1 year ago

    “You’re in a propaganda bubble! I need to restrict your access to media outside my bubble so that you aren’t in such a bubble!”

    Riiiiiight…

    Sounds like you live at home still, I wouldn’t rock the boat too much until you have autonomy. You don’t want to have a terrible relationship with someone who still controls a good portion of your decisions. Other than than that, we’ve all felt this. In my 30’s and my conversations with family are kinda going the same way. It’s ironic when someone says you’re falling for propaganda, while they still believe the lies spread by corporate media that have been clearly debunked.

    Good luck comrade!