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i saw a tweet that said “y’all be driving luxury cars but still living at your parents house” so let me give you an idea of WHYYY that may happen, and teach y’all a little of how credit works since i see a lot of people being misinformed.
i personally refuse to move out unless i’m settled in with someone or i OWN the house, the amount of money i’d spent “renting” elsewhere is better spent paying rent to my parents than some stranger. at least this way it doesn’t make feel like $ going to waste bc it just really is
just say you’re bitter that your relationship with your parents sucks so you felt forced or were forced to move out lmaoooo
now let me tell y’all about credit. when i was 20 i had already built a really good credit score bc of my credit cards and i was working full time and getting paid commission as well so i tried applying to get a house and although my tax statements, my payment history and -
bank account statements and background check and i had been at my job for a long time, i was almost given me the green light, BUT the issue was that i didn’t have any “big” loans.
you can have ten credit cards all used up less than half, on time payments, and etc but it’s still not enough. a big loan is like a car, rv, trailer, and etc something that you’re paying off for years. once they told me that, i decided to take out a car under my name.
i had no need to take out a car bc i had one that i loved and was making payments on but since it wasn’t under my name it didn’t help and that’s when i took out my current car under MY credit, MY name, literally all me nobody even knew i was going to buy one but it had to be done
so personally if i’m going to put this huge debt over myself, it’s definitely going to be a purchase that i won’t regret. stop making people feel bad for what they worked hard to earn.
when it comes to credit, one of the things that really helped me was paying the full minimum payment for my large purchases (car and i also had a trailer) in two payments. so pay half a few weeks before the due date, and then the other half a few days before.
this kinda tricks the system by making it seem like you’re making more payments than you actually are.
Yes, both the primary and the cosigner’s credit will be affected and will be shown on both credit reports because you share equal responsibility for the debt
another thing i do is i use my credit cards for everything. i don’t touch my debit card till the end of the moment to pay the full balance of what i used the month prior. my motto is if i can’t afford to pay something in full with my debit card, i shouldn’t be buying it right now
you also don’t have to be 18 to start building credit! i know a lot of parents especially in hispanic families aren’t aware but if your parents have credit then they can make you an authorized user on their cards and it’ll slowly help you start building your credit score up
i got the words mixed up, it’s not an authorized user (they just have access to have and use your cc) it’s joint account holder** but the same rules still apply, it’s just not always easy for people to trust you on their credit cards bc it’s money owed
i’m telling y’allllll. help your friends! dejen los chismes y pónganse a hablar de cosas que valgan la pena
