I don't have much credit

[jadekitty24]

My advice is to steer clear of credit unless you absolutely need to use it. It is so easy to dig yourself into a hole that you can't climb out of. A lot of times you may mean to pay it off in a certain time frame, but things come up and you make only the minimums and before you know it you pay 1 & 1/2 times the original price. My advice, go cheaper or save up the cash until you have what you need, unless it is an absolute necessity. Just speaking from experience.

 

[stainlessliquid]

My advice is to steer clear of credit unless you absolutely need to use it. It is so easy to dig yourself into a hole that you can't climb out of. A lot of times you may mean to pay it off in a certain time frame, but things come up and you make only the minimums and before you know it you pay 1 & 1/2 times the original price. My advice, go cheaper or save up the cash until you have what you need, unless it is an absolute necessity. Just speaking from experience.

How are you supposed to get a decent place to live without credit? Cash can only get you so far, sure you can save up and buy a crappy car for a few thousand, and you can buy other stuff in the low thousands after awhile but you are screwed when it comes to finding a place to live. You cant buy a house with cash so you are stuck with renting, and all the decent apartments and rentals require a credit score above a certain amount or a good rental history if youre lucky, the apartments that dont check credit are generally the worst in town.

 

[Hoo03]

Many of the posts in this thread provide excellent advices for you. I also noticed that by your signature you are looking at the 2.8GHz model. What is your primary objective in purchasing this computer? Also have you considered the new imac base model or the apple refurbs?

 

[jadekitty24]

How are you supposed to get a decent place to live without credit? Cash can only get you so far, sure you can save up and buy a crappy car for a few thousand, and you can buy other stuff in the low thousands after awhile but you are screwed when it comes to finding a place to live. You cant buy a house with cash so you are stuck with renting, and all the decent apartments and rentals require a credit score above a certain amount or a good rental history if youre lucky, the apartments that dont check credit are generally the worst in town.

I didn't need credit for my house, and I purchased it with cash. To say you can't buy a house with cash is silly...when you get a loan what do you think the bank gives to the seller of the house? Jelly beans? It's called "working hard and saving". Worked for me. I'm just making a suggestion to keep the OP from falling into the same credit trap I was once in. We all get suckered into the materialistic views that you NEED credit to get stuff.

 

[cwwilson]

Many of the posts in this thread provide excellent advices for you. I also noticed that by your signature you are looking at the 2.8GHz model. What is your primary objective in purchasing this computer? Also have you considered the new imac base model or the apple refurbs?

Welllll....It's more of a **want** instead of a **need** I suppose. But I'm a computer nerd of sorts and I wanted a SIGNIFICANT jump in performance compared to my current PC. I can surely settle for a 20 inch iMac with the 2.4 and 2GB ram but for just a few hundred more I can get a superior version that's nearly future proof (though quad core should be in iMacs by now).

What i'm using now:

Windows 7 Ultimate
1GB (2x512) Corsair DDR RAM 184 pin
Intel P4 2.66GHz
110GB IDE HDD (not even SATA, mb doesn't support it) [Used to be 80GB drive under FAT32 but is 110GB in NTFS]
nVIDIA GeForce 7600GS 512MB AGP 4x/8x
Soundblaster Audigy SE
20" Dell 1680x1050 widescreen monitor
On a VERY OLD VIA mb

Computer was bought back in 2003 with much older hardware installed, I have made some upgrades but the thing is hopeless. Vista put more than enough strain on it as was, W7 isn't much better.

BTW I wanted to get the bank situation sorted out but we had tornadoes here in OKC so that ended that. Tomorrow is another day, though.

 

[mhokie]

Unfortunately for you the money fairy has died for this generation. Saving up's the way to go.

Well it's not like it's a bad time to buy. Because it's a recession people will generally settle for lower prices just to unload the things they have. But that is also contingent on whether you have a job, which is not a guarantee. So in part I do agree, but if you have a stable job then spending money is not a horrible thing if you are smart and live within your means.

 

[mhokie]

Welllll....It's more of a **want** instead of a **need** I suppose. But I'm a computer nerd of sorts and I wanted a SIGNIFICANT jump in performance compared to my current PC. I can surely settle for a 20 inch iMac with the 2.4 and 2GB ram but for just a few hundred more I can get a superior version that's nearly future proof (though quad core should be in iMacs by now).

What i'm using now:

Windows 7 Ultimate
1GB (2x512) Corsair DDR RAM 184 pin
Intel P4 2.66GHz
110GB IDE HDD (not even SATA, mb doesn't support it) [Used to be 80GB drive under FAT32 but is 110GB in NTFS]
nVIDIA GeForce 7600GS 512MB AGP 4x/8x
Soundblaster Audigy SE
20" Dell 1680x1050 widescreen monitor
On a VERY OLD VIA mb

Computer was bought back in 2003 with much older hardware installed, I have made some upgrades but the thing is hopeless. Vista put more than enough strain on it as was, W7 isn't much better.

BTW I wanted to get the bank situation sorted out but we had tornadoes here in OKC so that ended that. Tomorrow is another day, though.

If it's a want then don't get it. From reading the replies and your posts in this thread it's clear you need to build a line of credit before you can even purchase the computer. And before you do that you need to have some MONEY. Do you have a job? Because let's assume you do apply for the Juniper card or take out some kind of a loan for the computer, you just simply don't have the money to pay for it. I would suggest waiting until you fix your current credit situation and earn money until you can be absolutely certain you can afford this computer.

 

[cwwilson]

Umm, yes...I have a job. :\

Please don't be a smartass.

I am in the process of bettering my credit but that will take some time. All the while, if I want a $2K and can afford payments from either paying back a loan OR getting it on a card than I'll do just that. The payments could be $100 a month and I could still go do it comfortably. My only debt is to the bank, I owe nobody else therefore I pretty much know what I need to do now. Thank you for your input but why on earth would you ask me if I had a job? If I didn't have one, why the hell would I be trying to get a computer.

 

[brop52]

You need to build credit plain and simple. For those individuals recommending you avoid credit cards entirely because they can pay everything in cash are making a mistake. Individuals that use credit cards improperly are worse. Do not buy something if you won't be able to pay off the credit card statement in full. Having a CC allows you to make more secure purchases online while saving a lot of money vs. buying from a store. Get a card with no annual fee that gives points for rewards or cash. I've gotten an iPod nano, Guitar Hero World Tour plus guitar, ice cream maker, many gift cards, a $319 check (from points gained from miles driven and purchases on my DriversEdge card), a lot of jewelry for my fiancée, and various gifts this way with points also from my mtvU card with points from restaurants, movies, and grades. Citi rewards uses Amazon products and ships through Amazon so you can take a look at the items before ordering. Building credit is very important as it determines the interest rate you can get on loans, credit limits and interest rate on CCs, 0% CCs that can be especially good if you are running a business, or whether or not you will be eligible for loans at all. If you ever plan on running a small business you aren't going to get very far without credit.

 

[davidg4781]

Now you have $2500 in the bank. Go to the same bank and take out a secured loan of $2000 to purchase your Mac, the secured loan will 'lock' the money in the savings account until you pay off the loan. Also, secured bank loans uusally have much lower interest rates (i.e. 7-8%) than a Juniper card at 20-25%.

Why on earth would you want to pay a bank money so that they can say you're OK to lend money to, so that you can pay another bank money in interest. Just pay cash. Just because it's 2009 doesn't mean we can't live with the common sense they had in 1909.

Debt is the main reason the economy is the way it is right now. People and businesses buying more than they can afford and being leveraged up to their eyeballs. They lose one customer, or miss a day of work, and all hell breaks loose.

 

[anth]

Just wait.

There are few things which are being in debt for. Exceptions include things like a home and your education.

To drive home what others have said, take care of the bank debt.

A new iMac is not a need right now - keep using your machine till you have some savings plus a safety net PLUS the $2k for the iMac in the bank.

Personally, I wouldn't have a credit card balance larger than that which I could pay off IMMEDIATELY, especially in this financial climate. Don't get me wrong, I use my cards all the time, but they get paid off in full at the end of the month.

 

[dwsolberg]

Credit

I was surprised that you don't have a bank account, but it sounds like you're going to fix that. The next step is to get a secured credit card. Unfortunately, buying a $2000 computer is an extremely bad idea for you right now.

There's just something about Apple computers that makes people behave like they're seeking addictive drugs or something. I have the same problem.

 

[cwwilson]

sometimes I just wished money grew on trees.

But maybe that'd be a bad idea with inflation, etc.

 

[NeoMayhem]

Have you checked your credit reports lately? It is possible for overdraft fees to show up if you do not pay them for more then 30 days.

It probably isnt this easy anymore, but I opened a credit card when I was 18, 5 more when I was 20, and by the time I was 21 I had close to 100k in available credit.

 

[cwwilson]

Have you checked your credit reports lately? It is possible for overdraft fees to show up if you do not pay them for more then 30 days.

It probably isnt this easy anymore, but I opened a credit card when I was 18, 5 more when I was 20, and by the time I was 21 I had close to 100k in available credit.

Very nice. I'll be lucky to have $5K in credit ever in my life the way I'm headed lol.

No I haven't done a credit report yet but I sure want to. Was thinking about FCR.com but you need a credit card to do it haha.

 

[ravenvii]

Very nice. I'll be lucky to have $5K in credit ever in my life the way I'm headed lol.

No I haven't done a credit report yet but I sure want to. Was thinking about FCR.com but you need a credit card to do it haha.

The ones asking you for a credit card is borderline scams.

Go to www.annualcreditreport.com, this is the site mandated by the government.

You have the right to view your credit report once a year.

 

[sickmacdoc]

The ones asking you for a credit card is borderline scams.

Go to www.annualcreditreport.com, this is the site mandated by the government.

You have the right to view your credit report once a year.

You are far nicer than I could be regarding the sites like FreeCreditReport.com that require you to sign-up for one of their services and try to indicate that a free credit report is a "bonus"! Just try googling "freecreditreport.com scam" for some other's feelings about that whole thing!

In addition to the site you mentioned to get the reports, the Federal Trade Commission page regarding the whole issue is here for further information.

Yep, a yearly report from each of the three major credit reporting firms is guaranteed to actually be free.

 

[NeoMayhem]

Very nice. I'll be lucky to have $5K in credit ever in my life the way I'm headed lol.

No I haven't done a credit report yet but I sure want to. Was thinking about FCR.com but you need a credit card to do it haha.

Get your free credit reports and make sure to dispute anything that looks funny.

Use the cards you have often and pay them off every month. They will start jacking up your limits pretty high. Once you get one card with a high limit it is easy to get more.

 

[Turmoil]

Okay so I've been trying very hard to save up enough money to get a new computer, which was going to be either a MacBook Pro or iMac. The deal is though, is that both are north of $2,000 which most "normal" people don't just have in cash form. I went to the Apple Store with $800 to put down towards a computer but apparently that didn't matter, I had to sign up for that Juniper Visa card which I knew I'd get declined for. I make more than enough to afford payments on a computer (among things I have to pay for) but I don't have any credit cards or the suchlike, and my only bank account has been closed for quite a while.

Aside from owing the bank $80 and re-opening my account, there shouldn't be anything "bad" on my credit history, it's just that I probably don't have that much credit to begin with and I'm confused as how to get it satisfactory enough for Apple to approve me so I can buy one of their computers. I know there might not be much anyone here can help me with but I thought it was worth a try (and yes, Best Buy turned me down too which makes me sick since I buy almost everything from them).

I can afford the computer I want. I have the money. But I don't have an 850 credit score so I get turned away? Apple needs some sort of special financing but hell, it is a COMPUTER, not a car. It would get it paid off real quick which is why I'm so upset.

If you can afford the computer and have the money, bring the money to Apple and they will take it. Apparantly, however you don't have the money, or the credit and can't afford the computer. But what you can afford.

 

[pprior]

1) Buy what you have cash on hand for.
2) Don't buy anything else.

Break these rules only to buy a home or in dire emergency (and a new mac is not either of these) and then very carefully.

Live by these rules and you will not regret it. Defy them and you imperil yourself.

 

[Psychmike]

Okay so I've been trying very hard to save up enough money to get a new computer, which was going to be either a MacBook Pro or iMac. The deal is though, is that both are north of $2,000 which most "normal" people don't just have in cash form. I went to the Apple Store with $800 to put down towards a computer but apparently that didn't matter, I had to sign up for that Juniper Visa card which I knew I'd get declined for. I make more than enough to afford payments on a computer (among things I have to pay for) but I don't have any credit cards or the suchlike, and my only bank account has been closed for quite a while.

Aside from owing the bank $80 and re-opening my account, there shouldn't be anything "bad" on my credit history, it's just that I probably don't have that much credit to begin with and I'm confused as how to get it satisfactory enough for Apple to approve me so I can buy one of their computers. I know there might not be much anyone here can help me with but I thought it was worth a try (and yes, Best Buy turned me down too which makes me sick since I buy almost everything from them).

I can afford the computer I want. I have the money. But I don't have an 850 credit score so I get turned away? Apple needs some sort of special financing but hell, it is a COMPUTER, not a car. It would get it paid off real quick which is why I'm so upset.

Seriously, you are not seeing things straight.

What do you mean you can afford it? If you have the money, you can afford it. If you don't have the money, you can't afford it. No one's talking about your intrinsic worth as a human being, they're just asking if you have the cash or assets or history to back up your promises.

You want Apple to extend credit to you. That means TRUSTING that you will live up to your obligations and promises. Considering that you walked away from your bank owing them $80, there is at least SOME evidence that you don't fully live up to your contracts.

Credit is also harder to get these days. Lenders are in deep financial trouble and they're not going to take a chance on anyone who doesn't have an exemplary record. The key to building up a good credit score is borrowing small amounts (even if you don't need to) and making every payment back on time. A computer may not be a car, but $1200 isn't chump change either. Whether you can afford the $100 monthly amount isn't the only issue. They're also concerned that an individual who wants to buy luxury items he can't quite afford and is willing to pay 18% interest might have a tendency to be impulsive and tend to continue to shop until he's hip deep in trouble and can't repay the loan.

Let's put it this way, if a stranger wanted to buy YOUR $2000 laptop from you, promised to give you $800 up front and make monthly payments, what would you want to know about him to feel comfortable???

Best to all in your State and sorry to hear about the weather.

 

[cwwilson]

When I made this thread, I wasn't thinking with a clear head so it's probably best to ignore that post.

 

[Psychmike]

When I made this thread, I wasn't thinking with a clear head so it's probably best to ignore that post.

No problem! You should hear the ridiculous nonsense that comes out of MY mouth at times!

Buy what you can easily afford and remember that you are not the sum of your possessions!

Best to you!

 

[cwwilson]

I just talked with my dad and he agreed to help me out with my financial troubles. We're going to clear up with the bank, get my own account away from the split one I have with my mom...heh...And set up some savings. I have a TV I'm currently renting though R-A-C and we're going to use some of mine and some of his to buy mine outright at a store rather than the $3500 R-A-C would want over time. With the $200 a month I'd save through that I can put that plus other monies into savings. When I get enough, I'll do the loan deal and then I'll have my new Mac. In the mean time, I'll keep a close eye on eBay and Craigslist for an older Mac to use until then in the ~$800 range when I get that much money again.

I can't believe I got this much help from a forum thread (don't know if that's sad or not) but thanks all

 

[pprior]

I don't want you to take this the wrong way, but if you're RENTING a large screen TV at a RAC type place, then you've got your financial priorities majorly screwed up.

Don't feel bad, many many Americans do as well, that's why we're in the mess we are.

Please (please!) read my advice above and seriously consider it. Buying something that depreciates (especially as fast as electronics) with a loan that increases debt is just financial folly. Delayed gratifcation is the only way to true financial success.

I would suggest you read "The Millionaire Next Door" - see how people who have actual money got there, you might be suprised.

Best of luck to you!