What is your credit score?

[Phiirso]

Noted. I’ll give it a thought.

You’re from Seattle right?

Si señor

 

[Hybrid()]

Having a score below 700 won't qualify you for low interest rate. Mine is in the 740-750

Don't have a credit card will never use one too

It's better to build your credit early so you can get a low apr on a car loan or something else

 

[Bohol]

Nope thank God. I took it out last year but it still a terrible ideal. You should only invest what you can afford to lose especially in crypto.

Last year is bad as well since it peaked in summer 2019. You should have invested December 2018 when Bitcoin was 3k.

 

[AliUK]

Same, I get all my sales in cash so I just put it in a shoebox.

What kinda sales you into?

Spoiler: Shshsb

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[Hybrid()]

Last year is bad as well since it peaked in summer 2019. You should have invested December 2018 when Bitcoin was 3k.

crypto are so volatile. I wish I invested in tesla stocks last year as it triple in price. I'm gonna pull crypto from my porfolio if we get a chance again to see a bull run again

 

[Macalin M]

What kinda sales you into?

Spoiler: Shshsb

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We’ll see

 

[Phiirso]

crypto are so volatile. I wish I invested in tesla stocks last year as it triple in price. I'm gonna pull crypto from my porfolio if we get a chance again to see a bull run again

With the way the stock market has been crashing, have you thought about any investing opportunities? Been perusing online for a bit and some people seem to be making quite a bit of money on it.

 

[Hybrid()]

With the way the stock market has been crashing, have you thought about any investing opportunities? Been perusing online for a bit and some people seem to be making quite a bit of money on it.

I put all my savings in crypto investment. Im literally broke right now

 

[Medulla]

Having a score below 700 won't qualify you for low interest rate. Mine is in the 740-750

View attachment 98052

It's better to build your credit early so you can get a low apr on a car loan or something else

I don't plan on getting a car loan or any type of loan in the future, so I don't feel the need to improve my credit score. Besides I am too young to get one without a co-signer so it's too much hassle for a card that may be of use in the future.

 

[Hybrid()]

I don't plan on getting a car loan or any type of loan in the future, so I don't feel the need to improve my credit score. Besides I am too young to get one without a co-signer so it's too much hassle for a card that may be of use in the future.

I didn't know you were below 18. there are so many childish adults on this site that it's hard to distinguish the real teenagers from the adults

 

[Medulla]

I didn't know you were below 18. there are so many childish adults on this site that it's hard to distinguish the real teenagers from the adults

No I just turnt 18 according to my bank I still require a co-signer for a card which is impossible since I am not a native of the UK. Plus being a native to the UK is a requirement for most credit cards too here so it's just a headache to deal with

 

[Furioso]

I have no need for a credit card. I stash my money in a piggy bank which is always full

 

[General Asad]

Don't have one but I may have to get one in the near future.

 

[Shmurda]

Mines 300ish but soon ima pay my rent with my credit card and watch my credit shoot up

 

[Ras]

Worried about the lack of financial literacy here.

If you don't take out a credit card and regularly use it your credit will always suck.

If your credit score sucks you'll be penalized for it all your life.

It isn't just for loans or mortgages.

• Applying for a job? Your credit score is considered even if they don't tell you.

• Want to rent a house?

Expect to pay a premium because there's a risk you won't stick around for long.

• You can also forget getting decent rates when you look for a mortgage.

• No freebies like air miles or discounted hotel stays.

I barely pay for flights since I run most my expenses through my credit cards.

This financial ignoranus is what sets us apart from groups that grow their wealth every generation.

Our kids will still continue to complain about wealth inequalities while still renting the roofs above their heads.

Spoiler

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[Phiirso]

Worried about the lack of financial literacy here.

If you don't take out a credit card and regularly use it your credit will always suck.

If your credit score sucks you'll be penalized for it all your life.

It isn't just for loans or mortgages.

• Applying for a job? Your credit score is considered even if they don't tell you.

• Want to rent a house?

Expect to pay a premium because there's a risk you won't stick around for long.

• You can also forget getting decent rates when you look for a mortgage.

• No freebies like air miles or discounted hotel stays.

I barely pay for flights since I run most my expenses through my credit cards.

This financial ignoranus is what sets us apart from groups that grow their wealth every generation.

Our kids will still continue to complain about wealth inequalities while still renting the roofs above their heads.

Spoiler

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We're still first generation. Give us time to assimilate

 

[Ras]

We're still first generation. Give us time to assimilate

It's because we're the first generation we should be more focused on wealth generation.

First gen Arabs and timojilec in the states probably already have a 800 credit score within the first 5 years of their arrival while we've been here for nearly 2 decades twiddling our thumbs.

The first priority is weaning off our families back home of remittance welfare.

Instead of sending them a couple hundred bucks every month for years give them a couple thousand and help them start a business which you partly own.

You get some cash flow and they get a job so two birds with one stone.

Actually three birds since you can use that couple hundred bucks which you usually send to invest in a 401k.

Do that for 20 years and you'll have a savings pot of over 100k...

Enough for a down payment for half a million dollars worth of properties bringing in a couple thousands each month in net profit.

That's how immigrants have such high household incomes... Not because of the incomes from their jobs.