I think it also targets folks without a SS #. Why else would they not just look at ones FICO?Read the radicle, it’s not that big of a deal. They are taking your savings and checking balances into account when considering you for a credit card If you have no credit history.
If you have 0$ and 0 credit you probably aren’t getting a credit card.
I think it also targets folks without a SS #. Why else would they not just look at ones FICO?
My buddy who loves dating hoodrats says most of them use their kids Socials to obtain fraudulent credit. They gotta pay for those Birken bags somehow or another!
Well, that's not a credit card then...it's a debit card.These are nothing but secured cards, this program has been around forever and widely used, but through smaller companies.
The only reason this made news is because it is Chase.
They aren't giving people with no scores a card with even a $1K limit. They have to deposit money on the card. It is a good way to start to build credit.
Well, that's not a credit card then...it's a debit card.
Well, that's not a credit card then...it's a debit card.
Can you even get a bank account without a SS Number?I think it also targets folks without a SS #. Why else would they not just look at ones FICO?
My buddy who loves dating hoodrats says most of them use their kids Socials to obtain fraudulent credit. They gotta pay for those Birken bags somehow or another!
Yep - All in the name of equity. I'm sure 5 to 7 years down the road the Left will say it was Predatory Lending giving minorities unsolicited cards so then the American Taxpayer will have to foot the bill for all the brothers & sisters Big Screen TV's, Las Vegas Vacations, and Cash Withdrawals.Gee. I remember when people who shouldn’t be able to buy a house were given home loans.......... no, there’s nothing wrong with what’s happening. And when all of these people with zero credit scores default, it will be us, the hard working American, that bails out these Billion dollar companies.
Can you even get a bank account without a SS Number?
Yep - All in the name of equity. I'm sure 5 to 7 years down the road the Left will say it was Predatory Lending giving minorities unsolicited cards so then the American Taxpayer will have to foot the bill for all the brothers & sisters Big Screen TV's, Las Vegas Vacations, and Cash Withdrawals.
This whole deal is bullshit. If someone with no credit score wants a credit score let them do it just like the rest of us. With a small amount of credit on a card and build it up showing that you’re responsible. I suspect that most the people this is meant to “help” have no credit because they don’t want or need it. If they did, they’d already have credit. It ain’t that hard to get.
I made good money off that crisis. There was no better time in my life to buy stocks and real estate.Remember when Clinton signed a bill that anyone could qualify for a home loan? Then 7 years later those low payment mortgages ended and the balloon payment was due, but due to low or no credit they couldn’t qualify for a new loan. Welcome back to the financial crisis of 2008-2012. Some people just don’t learn.
You can vote without one, so why not?
I can't remember the last time I paid interest on a credit card. We use them every month for whatever we can and always pay off the statements and make nothing but cash back to the tune of hundreds a month. They must hate us but we've got 830 FICOS too so they can't get rid of us either.
Hundreds ? can you elaborate ?
not being a smart ass just curious.
So are you speding 20-30K per month ?
I know some cards have 2x and 3x points for dining out and travel but to spend $10K on restaurants to get 30,000 points for $300 cash back would be crazy.
I know some cards have a big sign up bonus but after that it takes a while to collect them.
Anywhere from 2-5% depending on card and type of purchase. Like I said, almost all our bills run through these accounts for this purpose.
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Hundreds ? can you elaborate ?
not being a smart ass just curious.
So are you speding 20-30K per month ?
I know some cards have 2x and 3x points for dining out and travel but to spend $10K on restaurants to get 30,000 points for $300 cash back would be crazy.
I know some cards have a big sign up bonus but after that it takes a while to collect them.
Ding, ding, ding. It’s the lack of debt, not too much debt that’s freaking out the banks. Hardly the same as past crisis.Read between the lines. The current stats show people are paying off credit card debt in record numbers (using stimulus money) and credit card debt is at an all time low (prospectively). Credit card companies make money off high debt and high interest. Debt paid off means less money for the CC companies. So, this is their way of driving debt up and making more money. It's that simple. Slight risk for them but the majority of those they give cards too are actually low risk, just haven't had CC's before.
I get $300-$450 back per month on my AMEX Business card. I put everything I can on it.Nice !
Can you please share what cards have 2- 5% cash back ? Most i see have 1-1.5% for everyday spending. I know some have specific catagories like travel, amazon etc.
These are nothing but secured cards, this program has been around forever and widely used, but through smaller companies.
The only reason this made news is because it is Chase.
They aren't giving people with no scores a card with even a $1K limit. They have to deposit money on the card. It is a good way to start to build credit.
They report to the credit bureaus. Example, you deposit $500 and use $250, statement comes out with $25 min payment. Make the payment and now you have an open credit line and are establishing credit history. Good for college kids [emoji106][emoji106]I have never understood the secured credit card thing. It makes zero sense to me.
Hundreds ? can you elaborate ?
not being a smart ass just curious.
So are you speding 20-30K per month ?
I know some cards have 2x and 3x points for dining out and travel but to spend $10K on restaurants to get 30,000 points for $300 cash back would be crazy.
I know some cards have a big sign up bonus but after that it takes a while to collect them.
Who else doesn't have any credit cards, or a score? Been that way for the past 15-years.
A few years back I tried to check my score - but I failed the security screening because I couldn't verify my correct previous address. I'm like wtf, I've lived at my mortgaged home for the past 28-years, are you asking for the address I lived at when I was a kid, I've only lived at 3 addresses total as an adult! I gave up.
I have about 30 credit cards....in a drawer somewhere. I sign up for them when they give me deals on a purchase, pay 'em off and throw 'em in the drawer. Last time I found the stack I went through and had something like a half million dollars in available credit...on plastic lol.
Yes.Do all 30 have No annual fee ?