>rich people have good credit, they get awarded with low loan interest rates and end up saving money.
>poor people have bad credit, they get punished with high loan interest rates and end up paying more money than the rich person.
How do we fix this?
>meme flag Jew LARPer thread.
dont take loans when you are poor unless you want to build credit because you wanna get out of poverty
wtf are they playing it's not yugioh
Get good credit
Save all ur money raise ur kids correctly and leave them money & repeat. It's what we did for hundreds of years before boomers ruined everything.
Pay back your loans on time? My loans are fine and the bank gives me basically anything I ask for without question because they know I will pay it back. Simply giving more money to poor people doesn't make them richer. They're still poor, since poor is first and foremost a mindset.
>don't buy a car, commodities or a house, only rich people can do that.
I thought all of us were equal.
explain to me how that isn't yu-gi-oh
obviously he moved those exodia cards because he got em all
Don't get poor credit rating then you fucking imbecile
nah looks fake and gay meet me at kfc in 10 mins if you disagree cunt
>Poor people have bad credit
If you have bad credit it's your own fault, wealth has nothing to do with that
This, pretty much. Every class has people that have bad and good credit.
You dont need credit anyway, if you have enough down. Be responsible with your money.
Doesn't need fixing, why would I give good loans to people who have proven they cannot handle money properly? Sure there will be some exceptions who are poor through genuine misfortune, but the majority of poor people are poor because they're stupid or pieces of shit.
I see what you're trying to say, but from the bank's standpoint, they are taking much more risk with someone who has lower credit score and is poor, than someone who is rich. So what they do is charge more in case the poor person defaults on their loan. It's kinda like if you're a shitty driver your insurance will cost more
you are all fucking sheep
with your good goy points
imagine thinking you need credit to be successful in this world
slaves without chains
It's almost like having resources is some kind of societal advantage.
sheep
>getting a loan on anything but a house (mortgage)
If you consider this at all you will stay poor forever.
its almost likes the fractional reserve system is just usury of the working class through banks
>meme flag Jew LARPer
It used to be very easy for most people to get low APR loans until literal millions of blacks took out higher loans than they needed and failed to pay tr hem back. Now they out higher apr and lower limits to ensure they dont loose money. So thank the bank Jews and the retards who would take out money for 500k houses and 60k cars. They also are the reason those prices increased so much. They all tried to out but one another.
>t. poor person
Don't get mad at me just because you're to retarded to understand basic money management. You can call everyone sheep and continue to be an impotent taint or you can work the system and use it to buy guns and land.
Don't have any money in the bank?
They charge you overfraft and basically give the modney you pay for that to someone else who already has money as interest.
I listen to ads on the radio where they say they'll give you $15'000 back if you buy some new vehicle.. $15'000 could have bought the car I'm still driving 3x over.
No one does you a favor if you have no money but moves the world for you if you do. It's so fucked up and wrong
Abolish usury. Even buying a house with a mortgage will lead to your paying as much or more to the bank than your house is worth.
>How do we fix this?
abolish usury
Based on what you're saying, I'm assuming you have no knowledge of finance.
This. I'm 26 and my credit score is nom existant. I've only ever paid in cash or debit.
Really groundbreaking stuff here, user
fuckin what kfc
I'LL BE THERE WITH A DECK CUNT
The causation in your sentences is reversed.
this.
prior to the artificially low interest rates taking hold for the past 20 years, the total payments on a mortgage would be about 3x the purchase price. i.e. you'd pay twice the purchase price in interest over the life of a 30 year mortgage.
You could literally save the payments for 10 years and buy the property outright with cash.
Credit is just a deeper layer of usury which attempts to quantify how profitable of a person you are.
We simply don't, I can't afford stupidity but God is free.
There's a reason why you legally can't have a credit card before being 18 in Canada. It's only when you're 18 that are responsible enough to get a credit and maintain it. Just pay in time and it's fine.
Educate the poor people to stop taking loans.
On top of this, the easy availability of credit leads to an artificial rise in prices. By borrowing the money, people can "afford" to pay more, so they will bid the price up.
Prior to the 1980s, cars cost four figures and car companies made their money by selling cars. Since the 1980s, car prices started rising rapidly and car manufacturers make their money from their financing divisions.
It's unsustainable even with low interest rates because even just 5% interest doubles the money over twenty years.
Just two decades ago, if you got a loan for a car for more than 36 months you were considered a special case and the salespeople weren't all that interested. Now the standard loan that salespeople bring you is five years and they bring options for seven without even blinking.
what's your excuse
Educate everybody to.
Or better still, organize everybody to take as many loans as possible and then default on them all at once, just stop paying. The usury system would collapse overnight.
After careful analysis, lots of those microlending "success stories" in asia doesn't work
The money wasn't used to further your skills, it was used mostly to buy phones or second level shit that wasn't relevant for you getting out of poverty
Some found out, that 1000s used multiple lending mechanism in a way that they always had some money in the bag without working
If aren't the self starter type, more money will not help. We learned this the hard way in Europe and still people don't get it
>paying nigger cardgame
Disgusting
Same, im 30 with absolutely no credit at all, have a brokerage with td ameritrade, my vehicles have all been used, paid off day of, everything paid for in cash/debit, creditkarma says not enough history to determine a score
Im not about to take loans out just to buy SHIT, thats all the majority of peoples possessions are to me, everyone is buying useless SHIT
Not sure 30 year ball and chains are even worth it anymore, maybe ill tackle a mortgage one day and try to get manually underwritten, for now property valuation is retarded so ill just wait
That's all well and fine, but poor people with shitty credit typically lack the cash on hand to buy a house with just cash
But still the american way is leasing two big cars you can't afford and moving credit beween lenders, cards and financial refinancers, juggling debt you might never be able to recover
To simulate a much higher living standard than you have. I know this, because this nonsense is pushed by bankers here too
Pay your bills you lazy sack of shit
you would finance a car?
What stops them from saving up? Oh right, the destruction of the nuclear family.
Genau
You can utilize mortgages to your advantage. Say for instance you want to begin investing in real estate and you have $120k. You could either a) buy one rental property outright, and only be collecting the rent on one property or b) take out a few mortgages and buy 3, maybe even 4 properties and collect the passive income from all of them. You'd make a lot more money (if you buy the right properties) taking out a mortgage and collecting the rental income from 3-4 properties, than if you just purchased one. My arguement here is that mortgages arent completely bad and can be utilized to your advantage
true. The mass expansion of credit to consumers/laborers has been used to expand consumer purchasing power in the face of stagnant/falling wages.
>Just two decades ago
more like four decades ago. I was there and remember. in the 80s typical new car loan was 60 months, used cars would see the 36mo loans. Now new cars see 72 and 84 months loans. Which is just absurd on a rapidly depreciating asset.
I bought a slightly used car off a lot in 2003. I had cash to pay for it. But the dealer talked me into financing it, holding on to my cash, then paying it all off in 6 months with the cash, as a way to boost my credit score. Young naive me did that, but got caught unawares having to pay several hundred dollars in additional unearned 'interest.'
Lesson learned, as apparently paying off a note early requires paying some or all of the UNACCRUED interest, depending on your state's laws, the type of loan involved, and the language in the note agreement.
Get a room, faggots.
Well that's an option too in modern America. Having the ability to acquire a mortgage doesnt prevent you from not getting a mortgage and just saving. Clearly though more people prefer to just get a mortgage instead of working for 10-20 years to save up enough to buy a house
Don't be a fucking retard
I'm 27 and I grew up without a dad
I have better credit than most 50+ year olds
Inb4 good goi
I'm literally about to buy a house at 27
Maybe some land too
Might just rent that shit out and have passive income forever
No, I don't want fries with that. In fact keep the whole meal
I make my own meals anyway. Cause. You know. Intelligent
Why do you think they're going to KFC?
Credit is weird but you need it to do anything unless you're a millionaire with actual cash.
Your mommy makes you dinner every night.
If you don't do it while riding bikes, both of you are cunts.
Wouldn't the bank force you to use the mortgage on one property? I never heard about banks giving you money to "play around" with houses
If I take out debt here to rebuild the kitchen, they want to see the receipts that I rebuild the kitchen
and pray to God that you have no hiccups, just as vacancies or costly repairs, or lose everything and then some. Leverage looks amazing until it doesn't.
We don't oppose interest because its hard to make use of it, we oppose it because it is inherently immoral as defined by every major religion and every major moral philosopher in history...with the exception of one small group of (((people)))
Rich people have more possessions of value that can be seized if they default on their loans and are less likely to default in the first place.
Poor people have less possessions of value and are more likely to default, making them higher risk. They are also more likely to take out fewer loans than the rich.
It is completely fair for banks and lending institutions to do this, they exist to make a profit, not give you free money.
This is basic shit, dumb faggot.
Getting a loan to buy a car is literally one of the dumbest moves you can make. The second you drive it off the lot, it loses half it's value.
Congratulations you've now taken out a loan and paying interest on something that if you were to sell on, wouldn't even cover the cost of the inital loan.
Using Exodia as an absolute pleb.
Don't allow poor people to take loans at all. No CCs for lower class and we'd literally see the landscape change overnight.
Pay your bills on time if you want low interest rates nigger. We shouldn’t even be paying interest. It’s slavery.
>what is risk?
Commies can never answer this question.
yes and no.
No, it doesn't prevent you, but it does highly discourage you through culture, advertising, social pressures, and so on.
By accepting poverty for the rest of your life, while saving money for your children's lives to be better than yours.
dont fucking get a loan you poor piece of shit
Get a job faggot
By keeping monster cards in the monster card zone, even if it's exodia.
This tbqhwy
>Im not about to take loans out just to buy SHIT, thats all the majority of peoples possessions are to me, everyone is buying useless SHIT
it's not that hard to use a CC, then just pay it off completely every month.
dont default if youre retarded
Storm the gated communities. Classwar
>I'm literally about to buy a house at 27
>Maybe some land too
Buy or finance? Cause if it's the former, congrats. If it's the later, good luck.
1. Get job
2. Don’t spend money you don’t have
Good credit or bad credit has nothing to do with being rich or poor.
>people who are dumb with money are discouraged from borrowing more money
I don't see the problem.
typical Canadian making shit gay. don't you have a muslim to suck off or something
Thanks for the GL but I didn't do shit in my life wishing for luck
Rent doesn't include utilities btw. You pay for that shit on your own
you thought wrong, leave thinking to people who can actually do it
by making sure your children have it better.
not asking the government to make it better for you, then you become the child.
What is credit? I have never taken a loan in my life and have my own apartment, house and vila at the age of 33. Plus a 29yo car but is in top condition. You niggers have to stop buying things you cant afford. This is how the Jew gets you by the balls.
We're all equal in the sense that everyone shits in the same position.
Try not being stupid
My grandparents are wealthy but live like poor people. I hope some day I get at least a taste of it. Even like $300 000 would ensure that I'd never need a mortgage in my life. Buy a cheap house, fix it up flip it, rinse and repeat. The area I live is so expensive you need 2 incomes for even a modest house. So I rent for now. I dont want to fall for the scheme of taking loans and when I talk to people about this, they literally cannot grasp why i would want to do that. My brother is $2 million in debt. Roughly $800 000 of that is his mortgage, but still. $2 fucking million. He makes $90k/year and his wife makes roughly $70k/year. How fucking long will that take to pay off with all the other daily expenses you have? I wonder how much interest they'll pay on that thought their life. He had a decent 3 bedroom modest house before this one and once he got married they decided to move into a big 2600 sq ft/ house despite not having any kids, yet.
This is true.
These idiots don't understand family values, which includes propelling the next generation as much as possible.
>unironically using Exodia
KYS
This is the worst lighting I've ever seen lmao
Look at this bitches nose it's in the spotlight LOL
It is to motivate you to become rich.
Where do I apply to get my (((brackets)))?
Having good goy credit saves you money. With good credit, you don’t need to put down a deposit for electricity or internet service, you’ll get a better interest rate on a car loan or mortgage, you can even earn cash back just through normal purchasing
You know nothing about being poor makes you have bad credit.
You have to take out loans and not pay them back in order to have bad credit.
If you’ve never borrowed money in your entire life, then you do not have bad credit.
correct, there are investments and liabilities. If something doesn`t generate money it`s liability
a
whole
thread
of
sheep
advocating
usury
because
they
use
money
as
a
definition
of
success
...
>in order to get out of poverty, take out high interest loans so that you have enough goy points to take out higher interest loans
Hmmm
Never mind that high interest loans exist because of price fixing which exists because of accessibility to high interest loans which exist because of price fixing and so on
I'm all for capitalism but lender capital should be replaced entirely with investor capital. Abolish credit reporting. Only jews benefit - the public has the ability to invest but only the state and its hebrew proxy protectorate can lend significantly. If your idea is good and you can prove it, your neighbors will raise capital and dividends will stay in the community.
Housing and transportation prices will fall through the floor once price fixers can no longer charge a $15,000 heated cupholder tax on every car. Inflation will recover once $200B plus interest in unrecoverable loans are off the table.
Prove me wrong
>>rich people have good credit, they get awarded with low loan interest rates and end up saving money.
>>poor people have bad credit, they get punished with high loan interest rates and end up paying more money than the rich person.
>How do we fix this?
Right, and this just happens to people randomly
Seems like an IQ test to me.
Risk vs reward, besides poor people take out short-term loans to pay bills while rich people take out long-term loans which pay more interest over time even at a lower rate.