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SVTPerformance's Chain of Restaurants
Road Side Pub
Credit experts - credit rating question
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<blockquote data-quote="ON D BIT" data-source="post: 5386473" data-attributes="member: 10422"><p>no, it tells creditors that you can not control your spending. having little to no debt plus savings(consistent) is the best way to gain access to credit.</p><p></p><p>you are lending 100k for a young couple to purchase thier first home. who would you lend your money to?</p><p></p><p>1. they bring home 4k a month. owe 35k on thier cars. have 25k credit card debt. savings/checking accounts 200-4k on a weekly basis. have a credit score of 690.</p><p></p><p>2. they bring home 3k a month. have no debt. savings/checking accounts have 40k and increase every month. have zero credit.</p><p></p><p>now what couple is the greater risk to loan your money to?</p></blockquote><p></p>
[QUOTE="ON D BIT, post: 5386473, member: 10422"] no, it tells creditors that you can not control your spending. having little to no debt plus savings(consistent) is the best way to gain access to credit. you are lending 100k for a young couple to purchase thier first home. who would you lend your money to? 1. they bring home 4k a month. owe 35k on thier cars. have 25k credit card debt. savings/checking accounts 200-4k on a weekly basis. have a credit score of 690. 2. they bring home 3k a month. have no debt. savings/checking accounts have 40k and increase every month. have zero credit. now what couple is the greater risk to loan your money to? [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Credit experts - credit rating question
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