anyone else suffering from bad credit?

[HPR]

I'm just wondering if anyone else on here is suffering from bad credit? I just checked my credit rating online (equifax.ca) and was surprised at all the information they keep on file. The past 4 years I haven't applied for loans I know I would get rejected for, made payments on time, everytime and have tried to clear up all the misconceptions w/ collection agencies.

I would have to admit that when I was younger (between 18-20) I made some REALLY big fuck ups n: but when you're young, even with all the warning you recieve from friends and parents, you don't really know how bad credit can affect your life in the future... well, I'm feeling the repercussions of that nasty aftermath.

I noticed that by 2008 pretty much all my credit history from the past, whether good or bad will be purged from the system and I can start again anew with a clean slate. It's very discouraging knowing that now I'm making decent money (and done school) with only one student loan to pay and one credit card up to date, that I will never be approved of large purchases.

Before anyone goes on flaming my irresponsibility, and this is what I deserve for being that way... No need, I myself have been kicking myself in the ass for the past couple years for making the mistake. I would just like to know if anyone is waiting for their "release date" as well and know that I'm not the only one going through this shitty ordeal.

[RX-7_TWINTURBO]

i almost fucked mine up when i was younger because hbc gave me 2 credit cards when i was 16 because i worked for the company. 28.5% intrest hurts when your cards are maxed out and your a student still in grade school.

when i applied for my car loan all the bank could pull up on me was a missed payment for under $10 that they just took as a simple forgotten payment and gave me my loan no problem.

i am now way more responsible and have stellar credit
i was approved for an american express platinum card + others at 20yrs old and now have no credit issues at all.

[Xtrema]

It's a simple concept call "buy shit you can afford with your own money and not credits".

Follow this concept and you'll be fine.

[03ozwhip]

with that though, you need credit for pretty much everything you do nowadays. buy a house buy a car, or do you have 20 to200 G's laying around to buy things flat out? i know i dont and most of us dont and actually have to rely on getting credit for these purchases because we need them. i have shitty credit myself because of my stupid past and have no idea when i get any better. but it sucks because i cant get any credit, because of the fuck ups.

[keith303]

credit score 760

[90s_tuner]

What is a bad score? Mine is at like 700... I don't know if that's good or what i'm 19.

[A790]

My credit sucks balls right now, but not by my own doing...

[eclipse00]

Originally posted by 90s_tuner
What is a bad score? Mine is at like 700... I don't know if that's good or what i'm 19.

Its not bad, however Im guessing that you history isnt all that long, you can have the best credit rating in the world but if there isnt history to back it up it wont help you out!

[dooman24]

how do you get yur credit rating??
i think mine's back bad with all those over drafts the banks gives me..

[Xtrema]

Originally posted by 90s_tuner
What is a bad score? Mine is at like 700... I don't know if that's good or what i'm 19.

Under 700 is bad. 700-800 is average. Over 800 is awesome.

[Ajay]

Back when I was 18 I applied for my first credit card and received a Classic Visa from CIBC. I used this irresponsibly as most 18 year old kids do and I came up with the stellar idea of not paying it off cause I figured they would eventually cancel it on me. This idea didn't last very long as I realized that I would have terrible credit in the future so I disciplined myself to not use it but to pay it off. The fact that I didn't make any payments for a few months did hurt my credit rating early on as evident by the fact that I needed my father to co-sign my car loan for me.

Fast foward a few years later to the present time. I now have a very amazing credit history because I've stayed on top of all my obligations and well when you're on time with your payments and if you pay more than what the minimum required payments are on your credit cards the credit card companies really like that! Now I have 3 gold cards and a platinum, I'm paying off one of my student loan while I'm still in school (due to the fact that I can afford to and also the fact that CIBC National Student Loan Centre does not know how to process a Confirmation of Enrollment form).

My advice to you would simply stay on top of your finances. 2008 isn't that far away so just as long as you don't make any foul ups or apply for credit you don't really need it shouldn't affect your credit score in the future.

[Xtrema]

Originally posted by 03ozwhip
with that though, you need credit for pretty much everything you do nowadays. buy a house buy a car, or do you have 20 to200 G's laying around to buy things flat out?

Credit for house? For sure, no other ways to afford one, especially now.

Credit for car? May be. But buying a depreciating asset with borrowed money is very stupid. You really have to enjoy it to take that kind of loss. Leasing and expensing via a company is the best way to own a new car.

Credit for everything else? Only if you can pay it all off by end of the month which mean you have money for it anyway.

[finboy]

where do you find your score? i'm curious now

[Xtrema]

Originally posted by finboy
where do you find your score? i'm curious now

www.equifax.ca

on-line for $22

FAx/snail mail for free

[Kobe]

Im suffering from no credit...

Had to pay for that pre-paid master card
$20 to get it...

And its like $2 every tme you put money on the car...

Spent liike 600 on that car this month already, hopefully I have some credit now

[Sharpie]

Originally posted by Kobe
Im suffering from no credit...

Had to pay for that pre-paid master card
$20 to get it...

And its like $2 every tme you put money on the car...

Spent liike 600 on that car this month already, hopefully I have some credit now

I dont think you will get credit for that.

[Kobe]

Originally posted by Sharpie

I dont think you will get credit for that.

You do, it takes about 5 - 6 months for mastercard to send you an application..

Its a master-card just pre-paid....

[3G]

how do u get them to mail it? i dont see it on there

[Goblin]

How about suffering from NO credit... It sucks, cant get anything on credit.

Only thing I could get is a cell phone.. sigh.

[nusneak]

Well, incase you didnt know guys.. There is a way to escape BAD CREDIT...
However dont do it if you dont have credit, only if you have BAD credit you want to escape from.


Apparently it's pretty easy, it involves reporting your SIN as lost or stolen and getting a new one for (free, as opposed to paying)

here is a snippet


/start
1. Go to your local police station and report your social insurance card as
lost or stolen, tell them someone stole it at the bar or some stupid shit,
use your imagination.

2. They will make a report; get a copy of the report.

3. Take the report to the nearest HRDC and tell them you lost your SIN card
and are afraid someone will use it to obtain credit by false means. They
will ask you for the police report and then get you to fill out some forms
for a new SIN number.

That's right boys and girls; you get a whole new SIN number generated for
you by the Government.


In a few weeks your new card with a new number will come in the mail and it
doesn't cost you anything because they only charge for a replacement card,
not new ones. In the letter you receive with your new card they will tell
you it is your responsibility to report your new number to the Credit
Agencies, chuck it, maybe you don't see too well or weren't wearing your
glasses that day and didn't read that part.

/end

The main key being, you get a new SIN, and when you apply for any new credit, you do not use your last address, forward your new sin # to anyone, use your middle name, etc. You want to 'appear' as someone else, or else if when your applying for credit and they look up your account they might see the other one with 99.5% same information and they will link it if it APPEARS to be the same person, so you want to change something, drop a middle name, use a different address (and dont give your last), or something to that degree, make sure you read the article fully and dont blame me if you f*ck up your life/credit. My credit is fine and I have never done this procedure, and you should only do it if you have BAD CREDIT

If you want the whole story click here to goto hackcanada, I wrote a few articles there (no I'm not telling which ones )

So generally speaking, HPR you should be able to get a new sin and start building good credit well before your old 'bad' credit would get wiped off your record.

When you have no credit as opposed to bad credit, it can be somewhat difficult to get a loan somewhere, I suggest either having someone co-sign so you dont need to wait so long to get accepted, or sign up for a monthly cellphone /visa even if you have to pay a downpayment to get it. Beacuse what your after is 'history' that you paid whatever bills you had ON TIME

Oh ya, one last note incase anyone didnt know. Applying for credit lots is a BAD idea, because it looks like your trying to get some money. If you do not get accepted for credit, you should wait at least 6 months before trying again.. In those 6 months dont be doing nothing, you HAVE to make credit history for yourself, paying bills on time.