Comments on: Credit Reports: Interesting Equivocations http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/ Sat, 20 Mar 2010 15:34:03 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Jake http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-19440 Jake Thu, 05 Jun 2008 20:40:07 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-19440 I'm a customer of the FICO Score Watch service. Then I can still check my free annual credit report and be fully informed and still have my inexpensive monitoring service to help protect against identity theft. Plus I'm a credit score junkie so I get my FICO fix that way as well. I’m a customer of the FICO Score Watch service. Then I can still check my free annual credit report and be fully informed and still have my inexpensive monitoring service to help protect against identity theft. Plus I’m a credit score junkie so I get my FICO fix that way as well.

]]> By: Recommended Readings for 1/20/08 | Millionaire Money Habits http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6707 Recommended Readings for 1/20/08 | Millionaire Money Habits Sun, 20 Jan 2008 23:17:25 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6707 [...] Credit Reports: Interesting Equivocations at Mrs. Micah: Finance for a Freelance Life [...] [...] Credit Reports: Interesting Equivocations at Mrs. Micah: Finance for a Freelance Life [...]

]]> By: deepali http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6310 deepali Wed, 16 Jan 2008 22:09:40 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6310 I was under the impression that commercial referenced a community property issue - that she had a ton of debt he didn't know about, they got married, she now has access to his money,and the debt collectors are calling. He's not responsible for debt incurred before the marriage provided it's kept separate, but now he can't get divorced either... I was under the impression that commercial referenced a community property issue – that she had a ton of debt he didn’t know about, they got married, she now has access to his money,and the debt collectors are calling. He’s not responsible for debt incurred before the marriage provided it’s kept separate, but now he can’t get divorced either…

]]> By: Andrew Stevens http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6307 Andrew Stevens Wed, 16 Jan 2008 21:35:58 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6307 <i>But people can no longer get credit just by being put passively on someone’s credit card. They changed that.</i> They made that decision right after I had put my wife as an "authorized user" on my own card. So I ended up adding her to my card as a full user. Surprisingly, this ended up working and they accepted that (even though it was a card she couldn't possibly have qualified for herself). This may be because her credit report didn't reflect anything bad (like a habit of outliving her means or something); she just didn't have any credit at all. But people can no longer get credit just by being put passively on someone’s credit card. They changed that.

They made that decision right after I had put my wife as an “authorized user” on my own card. So I ended up adding her to my card as a full user. Surprisingly, this ended up working and they accepted that (even though it was a card she couldn’t possibly have qualified for herself). This may be because her credit report didn’t reflect anything bad (like a habit of outliving her means or something); she just didn’t have any credit at all.

]]> By: Candice http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6268 Candice Wed, 16 Jan 2008 16:14:11 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6268 I love and hate those commercials, too. What I don't get - it seems to me that this guy is implying he wouldn't have married his wife if he had known he wouldn't be able to get a house. If he's willing to forgo being with me because he has to live poor for a few years, then he's not worth it, and possibly not a very good character choice for a spokesman. I'm LOL at the fact I'm acting like this guy isn't just an actor reading a script. I love and hate those commercials, too. What I don’t get – it seems to me that this guy is implying he wouldn’t have married his wife if he had known he wouldn’t be able to get a house.

If he’s willing to forgo being with me because he has to live poor for a few years, then he’s not worth it, and possibly not a very good character choice for a spokesman.

I’m LOL at the fact I’m acting like this guy isn’t just an actor reading a script.

]]> By: Jeremy http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6264 Jeremy Wed, 16 Jan 2008 15:25:09 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6264 The only thing missing from the Annual site is your credit report. Each company has their own score, but if you want the one the car dealers and mortgage brokers see, I would head over to MyFico.com The only thing missing from the Annual site is your credit report. Each company has their own score, but if you want the one the car dealers and mortgage brokers see, I would head over to MyFico.com

]]> By: vh http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6253 vh Wed, 16 Jan 2008 13:52:50 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6253 Right on about the deceptiveness of these companies' advertising. Hmmm... "Or in another a guy apparently wouldn’t have married his wife if he’d known she had such bad credit. He shouldn’t worry, she won’t hurt his credit score…they may just have to apply for things in his name." Is that true in a community property state? The way I learnt it, community DEBT is also "community property." Now, presumably bad debt she incurred before they were married would, at least at the outset, be sole & separate. But...what if they put his name on one of her cards? It would be like putting a spouse's name on a pre-existing bank account: poof! With a wave of your wand-like pen you turn it into community property. What if they charged furniture or appliances--community property--on one of her cards...would that convert the card's debt from "hers" to "theirs"? If either were the case, it might affect his credit rating. Running a credit report on your fiancee...snort! Ain't life grand? Right on about the deceptiveness of these companies’ advertising.

Hmmm… “Or in another a guy apparently wouldn’t have married his wife if he’d known she had such bad credit. He shouldn’t worry, she won’t hurt his credit score…they may just have to apply for things in his name.”

Is that true in a community property state? The way I learnt it, community DEBT is also “community property.” Now, presumably bad debt she incurred before they were married would, at least at the outset, be sole & separate. But…what if they put his name on one of her cards? It would be like putting a spouse’s name on a pre-existing bank account: poof! With a wave of your wand-like pen you turn it into community property. What if they charged furniture or appliances–community property–on one of her cards…would that convert the card’s debt from “hers” to “theirs”? If either were the case, it might affect his credit rating.

Running a credit report on your fiancee…snort! Ain’t life grand?

]]> By: mrsmicah http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6243 mrsmicah Wed, 16 Jan 2008 12:20:32 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6243 Well, he says that he and his dog could be playing in their yard---seeming to imply that he could get it himself without her. Her status would affect loans they apply for and if she defaulted and he didn't cover it, that would affect his credit as well. But people can no longer get credit just by being put passively on someone's credit card. They changed that. Well, he says that he and his dog could be playing in their yard—seeming to imply that he could get it himself without her.

Her status would affect loans they apply for and if she defaulted and he didn’t cover it, that would affect his credit as well. But people can no longer get credit just by being put passively on someone’s credit card. They changed that.

]]> By: Andrew Stevens http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6215 Andrew Stevens Wed, 16 Jan 2008 07:14:50 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6215 It's not the case that taking out a loan/account with someone can impact your future credit. The loan itself can, of course, and will impact it negatively if it isn't paid back or if payments are made late, etc. (This is why you should never cosign for something unless you are absolutely 100% prepared to pay the entire loan back yourself should they default.) It’s not the case that taking out a loan/account with someone can impact your future credit. The loan itself can, of course, and will impact it negatively if it isn’t paid back or if payments are made late, etc. (This is why you should never cosign for something unless you are absolutely 100% prepared to pay the entire loan back yourself should they default.)

]]> By: Andrew Stevens http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6214 Andrew Stevens Wed, 16 Jan 2008 07:12:12 +0000 http://financefreelancelife.com/2008/01/15/credit-reports-interesting-equivocations/#comment-6214 I think what is going on here is that he needs his wife's income in order to qualify for the loan he wants, but if he's including her income, he has to include her credit score as well. Without her credit score, he can only qualify based on what he personally makes. So Mrs. Micah is 100% correct that if the guy is eligible for the home loan himself, he can get it without her, but what he's (probably) trying to say is that he could get the home loan if he had married a woman with the same income as she has, but better credit. I think what is going on here is that he needs his wife’s income in order to qualify for the loan he wants, but if he’s including her income, he has to include her credit score as well. Without her credit score, he can only qualify based on what he personally makes.

So Mrs. Micah is 100% correct that if the guy is eligible for the home loan himself, he can get it without her, but what he’s (probably) trying to say is that he could get the home loan if he had married a woman with the same income as she has, but better credit.

]]>