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Chat Thread: Be Well

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tigerswood said:
Your credit score (and its corresponding tier) directly leads to your mortgage rate. So this isn't necessarily true.
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never worked on mortgage underwriting, but when i got my first mortgage i know they were looking deeper into my credit history than just the number to size my interest rate

i'm sure unsavory lending practices will force you into a higher rate if you're in a situation like MDMH though, where you have a low score but an unblemished credit history
 
I signed up for that BILT credit card last month to start paying my rent on it and so far it works like a charm, and is like the only way for me to rake in american airlines points, which is what I usually fly
 
With the credit card discussion, would it be smart to open a new credit card to put an engagement ring on?

I already have 3 (travel, good rewards, and oldest one), and 4 kinda feels like a lot. But I feel like with a big purchase like this it's a good idea
 
deacon14 said:
With the credit card discussion, would it be smart to open a new credit card to put an engagement ring on?

I already have 3 (travel, good rewards, and oldest one), and 4 kinda feels like a lot. But I feel like with a big purchase like this it's a good idea
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i think so

i open and close travel cards a good bit to get the rewards bonuses -- used to do it a ton several years back
 
WRS said:
Pretty sure GreenSky is one of the consumer products that Goldman is trying desperately to unload now after their big consumer push totally flopped lol
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They did a good job pairing it with big contractors where I live, we had it as an option to finance two big home repairs/upgrades recently, and I just signed a few things on an iPad from the contractor to make it work.
 
dartsndeacs said:
I signed up for that BILT credit card last month to start paying my rent on it and so far it works like a charm, and is like the only way for me to rake in american airlines points, which is what I usually fly
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the citibank American card is great - tons of American loyalty points plus Admirals Club access

also today i signed up for a marriott Amex to get platinum status back. 3 more years at platinum and I'll be lifetime platinum with them so i'm basically paying for a bunch of free breakfasts and room upgrades for the rest of my life
 
Screenshot 2023-08-16 164830.png
Super fun nerdy mortgage matrix sample from Fannie Mae.

Your credit score and loan-to-value ratio are always going to be the primary factors in your rate. Underwriters will look more detailed into your credit history for many reasons, but it won't affect your rate much, if at all. If anything, they're looking for things to hurt you (late payments, prior bankruptcies, etc.) than help you get a better rate.

Note, I am not a loan officer, but know a couple thousand.
 
DeacDiggler said:
the citibank American card is great - tons of American loyalty points plus Admirals Club access

also today i signed up for a marriott Amex to get platinum status back. 3 more years at platinum and I'll be lifetime platinum with them so i'm basically paying for a bunch of free breakfasts and room upgrades for the rest of my life
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"With the Citi / AAdvantage Platinum Select, you'll earn 2 miles per dollar on eligible American Airlines purchases and at restaurants and gas stations. All other spending earns 1 mile per dollar spent. There's no cap on how many miles you can earn in a year."

There are so many better places to put restaurant spending on though than just getting 2 miles per dollar, that you're sacrificing a lot to get those american airlines miles. Heck, that BILT credit card I referenced gives 3x points on restaurants and those can be transferred to American airlines.
 
TownieDeac said:
They did a good job pairing it with big contractors where I live, we had it as an option to finance two big home repairs/upgrades recently, and I just signed a few things on an iPad from the contractor to make it work.
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Oh don’t get me wrong I think it makes a lot of sense in your situation and glad it was an easy process. Just thought it was funny that was the specific company because he has been getting crushed over it.
 
we have one car loan at 1.25%, our mortgage at 2.875% (refinanced in 2019) and I’m going for public service loan forgiveness with my student loans. So I have no incentive to pay down any of the debt we have.
 
BeachBumDeac said:
we have one car loan at 1.25%, our mortgage at 2.875% (refinanced in 2019) and I’m going for public service loan forgiveness with my student loans. So I have no incentive to pay down any of the debt we have.
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BRAG
 
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