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Jul 10 - Kamala Harris says credit scores should include rent, cell phones and utilities


 


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 5 days ago '18        #76
OptimisticCynic 2 heat pts
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 pnoi89 said
Agreed on the surcharges, nearly utilities charge surcharges for credit cards vs. just pulling directly from your bank account, but that's not the only living expenses people have: gas, internet, phone bill, food, etc.

As for #2, Budgeting 101. But makes sense; since most people can't avoid being obese (Calories In - Calories Out), how do we expect them to figure out their budget (Income - Expenses)?



With your example, it doesn't line up EXACTLY with pre-paid phone plans or post-paid phone plans without being binded to a contract due to a phone purchase plan, but that's a good reason for people to consider secured credit cards, where the user puts in a cash amount upfront. And voila, that's their budget for that card!
Yes, every example wonít work to establish credit under Kamalaís idea. That was never my argument. My argument is that with her idea, you are not required to have debt to a creditor which is how the current system works.

 5 days ago '17        #77
PROV 263 heat pts263
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 Rich130 said
So says a retard





[pic - click to view]

Man's drinks 64 ounce cola for breakfast
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 5 days ago '05        #78
pnoi89 18 heat pts18
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 OptimisticCynic said
Yes, every example won’t work to establish credit under Kamala’s idea. That was never my argument. My argument is that with her idea, you are not required to have debt to a creditor which is how the current system works.
Utilities are almost always post-paid, while most people that rent are pre-paid. Either way, it's a thought to consider, but thinking about it more, it also comes down to if you consider only monetary debt (mortgages, loans, credit lines, etc.) vs. debt of used water, natural gas, electricity, etc.
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 5 days ago '13        #79
NoYouWantFindMe 1 heat pts
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This reminds me, I have some items to dispute on my credit report.


 5 days ago '11        #80
bkamagnum 
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Why would credit score include things that are not a form of credit(debt)?
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 5 days ago '08        #81
d3athb4dishonor 5 heat pts
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If your parents have good credit get them to add you to their oldest line of credit. My sh*t skyrocketed after I did that, I've been on a mission to clean up mine for the last couple years and that sh*t helped a lot.

 bkamagnum said
Why would credit score include things that are not a form of credit(debt)?
I think the logic behind this is its something you are continously paying and it would help show people later on down the line you are responsible.
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 5 days ago '04        #82
x Tha Arkitek x 96 heat pts96
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 d3athb4dishonor said
I think the logic behind this is its something you are continously paying and it would help show people later on down the line you are responsible.
It's a flawed thought process. If you loan some one $5,000 and they pay back $800, you're screwed out of $4,200. If you provided some one with utilities and they've paid April, May & June, but miss July's...you shut off their services and you've lost nothing.

Credit vs Service. Services paid for don't belong on a credit report/score. It's not credit.
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 5 days ago '06        #83
RAZAH CUTS 6729 heat pts6729
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she's the worst...

 5 days ago '18        #84
OptimisticCynic 2 heat pts
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 pnoi89 said
Utilities are almost always post-paid, while most people that rent are pre-paid. Either way, it's a thought to consider, but thinking about it more, it also comes down to if you consider only monetary debt (mortgages, loans, credit lines, etc.) vs. debt of used water, natural gas, electricity, etc.
Agreed. Ultimately, some people will look at this idea as more ways to establish credit or just more ways to get screwed over.
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 5 days ago '07        #85
killacar 6 heat pts
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 AMG2M4 said
She's right

I always thought there are some credit scoring company that does keep a track of the utility bills, too.

I know there are few of the credit check companies, and for some reason thought the landlords are able to check this out for when they want to run a credit score check, and at least know how to check if you pay your house bills/rent/mortgage on time.
There is a landlord type organization that does do this and they report evictions and broken leases and sh*t. I don't know why u got slapped for this

 5 days ago '05        #86
pnoi89 18 heat pts18
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 OptimisticCynic said
Agreed. Ultimately, some people will look at this idea as more ways to establish credit or just more ways to get screwed over.
I mean if people have sh*tty credit due to bad marks, allowing rent, utilities, etc. to be considered isnít going to help their score... So Iím not understanding why this is even a big topic? Of course, people will make their rent and utilities a priority, but the real test on understanding credit is credit itself.

 5 days ago '15        #87
KennyKing187 
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 AMG2M4 said
She's right

I always thought there are some credit scoring company that does keep a track of the utility bills, too.



I know there are few of the credit check companies, and for some reason thought the landlords are able to check this out for when they want to run a credit score check, and at least know how to check if you pay your house bills/rent/mortgage on time.
Don't pay your bills and watch any of these go to collection and affect your credit anyway so wtf is this dumb bi*ch talking about? Credit score even affects employment at some places

 5 days ago '17        #88
KobeThompson 14 heat pts14
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i went from 800 to 750 because i messed up and consolidated my oldest account which was sallie mae

 5 days ago '16        #89
Yaggy 6 heat pts
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 OptimisticCynic said
Just scrolling with my phone and I guess I hit slap. I did not intend that. My bad.
np. idc lol. just sharing info from north of the wall
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 5 days ago '16        #90
OWPE 105 heat pts105
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 Gold Face said
That means people with bad credit scores now, will have even worse credit scores going forward

Exactly, and credit scores are for debt that takes years to pay off, not month to month bills. Month to month is not credit history


 5 days ago '19        #91
unit321 42 heat pts42
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If you are paying rent, are you being extended a credit line?
She is trying to loop in a person's rent as to being similar to a mortgage payment, but when you pay rent, there is no interest rate involved. It's not a 0% loan either.
If you are paying utilities, are you being extended a credit line?
You utility bill waivers from month to month. Cable stays the same, but water and electricity/gas may go up and down. But are you really being extended credit? Kind of like letting you pay a year's worth of charges spread out in 12 months like a payment plan? If so, it could be seen as a credit account.
If you are paying a cell phone account, are you being extended a credit line?
In the contract accounts, it could be seen as credit, but non-contract, pay-as-you-go accounts are not.

I don't know if this is good for those it is supposed to help out. For most middle and upper class folks, this is just a way to help boost your credit score.
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 5 days ago '09        #92
BryanBodyLotion 1 heat pts
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Iím 28 and in my case this would help me because when I was 18 I messed my credit up badly. I was opening an account with every cell phone provider and whatever else I could do. Then at 24 I realized it fu*ked me up so ever since then Iíve paid every bill on time and havenít opened up anything (mostly because they wonít let me)
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 5 days ago '18        #93
A Cold Game 5 heat pts
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You can already do this ... if you pay your rent on time look up rental karma... itís goes back 24 months. Takes like 2 weeks.


I can clear your credit of closed accounts in 1.5 months. And help you build it in 4-5 months.

My score went up 94 points from May19 - July 1st

Pm me if you want more info
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 5 days ago '19        #94
Hotep11 3 heat pts
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 Snipper said
lmao - credit is important as they need to know if you're going to pay your premiums.

Insurance is about managing risk.

bad credit? Take ya a*s to the high-risk insurance industry.

Also, bad credit is an indicator for potentially fraudulent claims.
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 5 days ago '06        #95
kgb 
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that would lower credit scores. she has to be trolling.

 5 days ago '06        #96
imthatinfamous 48 heat pts48
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 ordoabchao said
...no, they shouldn't. that's prejudicial to lower socio-economic people of all groups..
how?

 4 days ago '17        #97
TeamBrinkz 
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get money f*ck credit.......

 4 days ago '04        #98
bibbyboi 31 heat pts31
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I can't believe how many people in this thread are going hard for the lenders.

 4 days ago '04        #99
bibbyboi 31 heat pts31
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 x Tha Arkitek x said
It's a bad idea that doesn't help the lender. All of a sudden, you got people with a skewed 700+ credit scores because they've paid their rent and utility bill. But you loan them $5,000 and they default on the loan. The tool to gauge your risk on lending an individual money is now useless.

I see she's trying to help people, but it's a terrible solution. Secured credit cards exist for a reason. It's up to you to help fix your credit.
If they need this to help their credit score then it's more than likely that even with this they won't have a 700 credit rating. Also they can always look into the persons actual income and other factors too. I mean even if you have a great credit score, but your income to debt ratio or income to rent/utilities ratio is high then lenders can take that into a higher consideration.

But it's a really complicated subject and that's why I originally said and am still saying I'm not sure how to feel about this.
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 4 days ago '04        #100
infam0uskills 15 heat pts15
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my credit score would be 5,745 if they did this

horrible idea, people need to learn financial responsibility instead.

The fu*king internet has all the info, sh*t fu*king youtube has videos teaching for ppl that are too lazy to fu*king read.
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