Money Talk, Bad credit & being on the road

Discussion in 'Experienced Truckers' Advice' started by SteerTire, Nov 6, 2018.

  1. SteerTire

    SteerTire Road Train Member

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    Actually no.

    This thread is to teach a lesson on how to be prepared for the worst. In doing so, it will allow a new (and broke) driver to hold and keep an emergency fund that will do more than accumulate banking fees. Because we all know Swift and Werner aren’t going to buy them a bus ticket home.

    Yes, there are fees on the card. But maybe they learn patience and planning for a future also. :)
     
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  3. againstthewind

    againstthewind Road Train Member

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    i just take cab to Olive garden.
     
  4. SteerTire

    SteerTire Road Train Member

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    I’m poor or cheap. You decide. I have to use Lyft if I haven’t rented a car.
    Plus, I don’t like Olive Garden.
     
  5. crazyrob79

    crazyrob79 Light Load Member

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    my car was 25% so it cost $30,000 for a $5000 car of course I have really bad credit but they -----d me over and wouldnt back down my dad paid the car off
     
  6. p608

    p608 Road Train Member

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    You mean, Dave "send your money to god but address it to me" Ramsey?
     
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  7. snowwy

    snowwy Road Train Member

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    Very hard to finance a fridge when you have bad credit. Very tough to get ANY kind of financing with bad credit.
    Late on payments might not be as bad as owed debt. Which is still late on payments.

    About the only way i know of to start rebuilding are as mentioned. Secured Credit Cards and a high interest car loan. You can get a secured card for as low as $200. The higher your limit. The higher your score will be. Provided you have a zero balance when it reports to the credit agencies. A personal loan would help too if you can get one without a cosigner

    TIP. Bank cards are worth more points then credit union cards. At least mine are. My CU card has the highest limit but worth the least points. 9 points between maxed out and paid off. My smallest bank card. 15 points between maxed out and paid off.

    I never had a desire to have credit cards. Didn't see no need for them. But then I realized how much better my credit would be. If I would have kept the cards i had when i was married 28 years ago. And how I could have saved myself from collections if I would have had some type of back up cash flow.

    A way to pay the bills when the cash flow slows down. Because they always seem to hit the hardest when there's no money to pay.

    I'm glad I have cards now.

    Cash may be king. But cash does absolutely nothing for credit. And not everybody has it to stash it.

    And think about those things that's going to cost you because of credit. Like higher auto insurance.

    Who knows how our credit will be effected when that new algorythim kicks in next year. And our savings and money markets are tied in.

    And yes. I posted that news story on this sight last month.
     
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  8. azheavyduty

    azheavyduty Light Load Member

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    "Very hard to finance a fridge when you have bad credit."
    If you have to finance a refrigerator, you shouldn't be buying it. Find a used one that you can actually afford.
     
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  9. adayrider

    adayrider Road Train Member

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    Best way to have good credit is to pay them on time every time.
    Making more debt with bad credit is not a wise move.
     
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  10. freebeertomorrow

    freebeertomorrow Heavy Load Member

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    this will be good. didn’t take long for the pablo escobars to show up.
     
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  11. SteerTire

    SteerTire Road Train Member

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    Dave has said nothing that our parents didn’t. But because he charges big $$$ for that same advise.

    He’s much smarter than most people’s parents. SMH

    His cash only policy. While a great idea, is a very stupid idea in the real world. Simply because there are places that will NOT take cash.
     
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