The Unofficial Hijack Thread

[TJ Hunnicutt]

I’d say 75% of society lives WELL beyond their means and is up to their eyeballs in debt. Living off credit cards, and living paycheck to paycheck. I am so glad I don’t have that struggle. It’s easy to fall into that trap tho I’d imagine.

A staggeringly large proportion of the people in my office, most of whom make quite decent wages, live paycheck to paycheck. It's really scary to think that a person over the age of 40 has little to no savings and is paying in to the 401K at the absolute minimum level, just so they can make the payments on their BMW AMG (or stupid-silly Wrangler build) every month.

The wife (who, by the way, is the mastermind behind our near 850 credit scores [we have both hit the "unobtainable" 850 perfect score on several occasions and never fall below 835]), says that it's even worse in her office and has personally coached several of her coworkers into some semblance of financial sanity but struggles to get others to even realize they have a "problem".

 

[Chris]

A staggeringly large proportion of the people in my office, most of whom make quite decent wages, live paycheck to paycheck. It's really scary to think that a person over the age of 40 has little to no savings and is paying in to the 401K at the absolute minimum level, just so they can make the payments on their BMW AMG (or stupid-silly Wrangler build) every month.

The wife (who, by the way, is the mastermind behind our near 850 credit scores [we have both hit the "unobtainable" 850 perfect score on several occasions and never fall below 835]), says that it's even worse in her office and has personally coached several of her coworkers into some semblance of financial sanity but struggles to get others to even realize they have a "problem".

I refuse to live on credit and only use it when necessary, but I'll be damned if I wouldn't want to have an 850 credit score!

I've talked to some of these guys who build the crap out of their JLs and other expensive vehicles. They'll dump 50k into it while they still owe 40k on the vehicle. That sure doesn't make much sense in my mind!

 

[TJ Hunnicutt]

I refuse to live on credit and only use it when necessary, but I'll be damned if I wouldn't want to have an 850 credit score!

I've talked to some of these guys who build the crap out of their JLs and other expensive vehicles. They'll dump 50k into it while they still owe 40k on the vehicle. That sure doesn't make much sense in my mind!

Although it's mostly a "prestige" thing for us, having that kind of score has its advantages. It can actually save you money on insurance, plane tickets, car rentals, etc.

As long as you are not a "credit whore" like the guys you just mentioned, the high credit score is not really that difficult to obtain (in theory). It does take some time, and you do have to get and use some credit cards and also have some other lines of credit (like a mortgage and car loan), but the keys are all fairly straightforward. Pay all your bills on time every month. Use your credit, but do not abuse it. Control it rather than letting it control you.

If anyone is interested, I could try to convince the Tracinator (Tracy) to put together a real-world "10-points to a better credit score" list.

 

[Powdermonkey]

The credit system is BS! Pay off your house and live on cash an see what happens. You have no choice but to use CC. Although they do get you free shit to do so. But my point is they force you to play by their rules.

 

[Westtown Willy]

The credit system is BS! Pay off your house and live on cash an see what happens. You have no choice but to use CC. Although they do get you free shit to do so. But my point is they force you to play by their rules.

Couldn't agree more, having a ‘perfect credit score’ is counterintuitive & something I’ll never shoot for due to what’s required. You’d think (well I would anyway) that the best credit risk is the guy with zero debt/loans and pays all bills in full the day they come due but we all know however that guy can actually be considered a bigger risk than his neighbor that has a mortgage & carries credit card debt. Makes absolutely no sense to me whatsoever from a commonsense standpoint yet makes perfect sense from a banking/credit standpoint as these industries want the population in debt so they incentivize carrying debt with the credit rating carrot which of course inures to their benefit, not yours. You can get your credit rating up over 800 with no debt & once you’re in that league you get treated as well as the 850 crowd without carrying payments like they do. Prestige? Ha, prestige & $4.00 will buy you a cup of coffee at Starbucks.

 

[cliffish]

The credit system is BS! Pay off your house and live on cash an see what happens. You have no choice but to use CC. Although they do get you free shit to do so. But my point is they force you to play by their rules.
View attachment 79002

What rules, I put everything on my credit card I can. My work (own business) CC bill is $10-$20/K month and my personal one is usually around $4K/mo. Just pay it off every month and live by the rule, if you can't afford it, don't buy it. I have hundreds of thousands of points to use on anything from gift cards to plane tickets.

BTW credit score is 835. I do agree get rid of the mortgage asap, take short 3 year term on car note (and buy slightly) used.

 

[Starrs]

A staggeringly large proportion of the people in my office, most of whom make quite decent wages, live paycheck to paycheck. It's really scary to think that a person over the age of 40 has little to no savings and is paying in to the 401K at the absolute minimum level, just so they can make the payments on their BMW AMG (or stupid-silly Wrangler build) every month.

The wife (who, by the way, is the mastermind behind our near 850 credit scores [we have both hit the "unobtainable" 850 perfect score on several occasions and never fall below 835]), says that it's even worse in her office and has personally coached several of her coworkers into some semblance of financial sanity but struggles to get others to even realize they have a "problem".

Sad but true. I see it all over too.

 

[Chris]

If anyone is interested, I could try to convince the Tracinator (Tracy) to put together a real-world "10-points to a better credit score" list.

That would be cool!

Admittedly I use my credit card all the time, but I use it more as a charge card to accumulate points. Of course I pay the credit card off before I ever even owe anything on it at all, so it works out.

 

[Starrs]

I refuse to live on credit and only use it when necessary, but I'll be damned if I wouldn't want to have an 850 credit score!

I've talked to some of these guys who build the crap out of their JLs and other expensive vehicles. They'll dump 50k into it while they still owe 40k on the vehicle. That sure doesn't make much sense in my mind!

My post dissapeared or maybe I didn’t hit post reply lol but you surely don’t believe it’s just the JL crowd do you? What about tj owners spending 10s of thousands and still making payments on a tj? It’s all over the place lol

 

[Stox5225]

If anyone is interested, I could try to convince the Tracinator (Tracy) to put together a real-world "10-points to a better credit score" list.

I’d be interested in that haha. My biggest killer is my damn student loans!!!! $500 a month goes to them.


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[Powdermonkey]

What rules, I put everything on my credit card I can. My work (own business) CC bill is $10-$20/K month and my personal one is usually around $4K/mo. Just pay it off every month and live by the rule, if you can't afford it, don't buy it. I have hundreds of thousands of points to use on anything from gift cards to plane tickets.

BTW credit score is 835. I do agree get rid of the mortgage asap, take short 3 year term on car note (and buy slightly) used.

It’s their system and their rules! Why do I have to use credit to have good credit? As I stated above they give perks to use their product, but someone is paying for it. Although you’re not paying where you’re using it is. My wife is all about her credit score and is 835+ and hasn’t had an job in over two years( file jointly). I prefer cash, I don’t care about their damn system. If I can send you a money order or pay a local guy cash I do. And I don’t want a receipt and hope they pocket it.

 

[DrDmoney]

I've talked to some of these guys who build the crap out of their JLs and other expensive vehicles. They'll dump 50k into it while they still owe 40k on the vehicle. That sure doesn't make much sense in my mind!

Not much sense when 50K already buys you a decent rig if you’re going with function over looks. The Rubicon is still a very capable rig right out of the box. I guess what I can’t stand is how untrailworthy a lot of the crap they decorate with is. It doesn’t bother me as much when I see a lot of money dumped into good parts that will never see the Trail, at least not with that owner the next guy/gal might get a good deal at least.

 

[JEEPCJTJ]

The credit system is BS! Pay off your house and live on cash an see what happens. You have no choice but to use CC. Although they do get you free shit to do so. But my point is they force you to play by their rules.

Another rule we are forced to live with is still "renting" your property from the government after paying it off. OK renting might not be the correct term but my property tax is about the same as my house payment and will only go up over time but if I fail to pay it they will kick me out.

 

[billiebob]

there's a crap ton of people who are just making massive amounts of money... but where do they work

Think credit. Home Equity, VISA, money is cheap.
They probably owe more on the truck than their house.

 

[Starrs]

Think credit. Home Equity, VISA, money is cheap.
They probably owe more on the truck than their house.

Nailed it..

 

[TJ Hunnicutt]

The credit system is BS! Pay off your house and live on cash an see what happens. You have no choice but to use CC. Although they do get you free shit to do so. But my point is they force you to play by their rules.
View attachment 79002

Wonder if it has those pointed lug nut caps too, that'd be even "better". Light bar, stinger, high-clearance fenders...and street tires.
Agreed that the credit system is a steaming pile but, without good credit it's sometimes tough to do what you want to.

@Westtown Willy
When I said "prestige", I meant in a personal way, sort of "bragging rights" between ourselves. The point was that it wasn't important to get it that high.

That would be cool!

Admittedly I use my credit card all the time, but I use it more as a charge card to accumulate points. Of course I pay the credit card off before I ever even owe anything on it at all, so it works out.

I'll check with her. As far as using your CC's as a one-month loan, that's the best way to do it! Get the points or cash back and pay it off before you have to pay any interest.

I’d be interested in that haha. My biggest killer is my damn student loans!!!! $500 a month goes to them.


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Yep, student loans are the bane of the gen X ers and now, even more so for the millennials. They make it tougher in general but not impossible. The same basic rules apply.

It’s their system and their rules! Why do I have to use credit to have good credit? As I stated above they give perks to use their product, but someone is paying for it. Although you’re not paying where you’re using it is. My wife is all about her credit score and is 835+ and hasn’t had an job in over two years( file jointly). I prefer cash, I don’t care about their damn system. If I can send you a money order or pay a local guy cash I do. And I don’t want a receipt and hope they pocket it.

Yes, it is their system and rules; stupid as they are. The credit bureaus are the real "evil" here. They compile information (often incorrect information) on your spending and payment history, without your consent, and then charge you (indirectly) to use it. It sucks with a capital SU.

Another rule we are forced to live with is still "renting" your property from the government after paying it off. OK renting might not be the correct term but my property tax is about the same as my house payment and will only go up over time but if I fail to pay it they will kick me out.

Uuuuugh, taxes drive me nuts. If one guy or gal buys a new vehicle and keeps it until the wheels fall of (and they don't have the trail tools/supplies to put them back on ), the government gets the taxes from the initial sale and that's fine. But if that person sells that vehicle to someone else, suddenly the state needs sales tax AGAIN? Doesn't cost the state anything for that sale; you have to pay separately for the title transfer, etc. It's just a stinking money grab so that they can take trips to Beyonce concerts or buy votes with handouts to people who don't want to work. ...but I digress

 

[astjp2]

I was listening to a guy on the radio bitch about Dave Ramsey, Dave is the guy that gives people the knowledge to become debt free and pay everything in CASH. Dave also wants people to pay off their homes...this guy claimed that you need to have a house payment and good credit so you can get a mortgage in the futures...sometimes I dont think these guys actually listen to themselves or who they are bitching about. If your place is paid for what the hell do you need another mortgage for?

 

[billiebob]

without good credit it's sometimes tough to do what you want

yes to good credit. no to excessive debt

 

[TJ Hunnicutt]

I was listening to a guy on the radio bitch about Dave Ramsey, Dave is the guy that gives people the knowledge to become debt free and pay everything in CASH. Dave also wants people to pay off their homes...this guy claimed that you need to have a house payment and good credit so you can get a mortgage in the futures...sometimes I dont think these guys actually listen to themselves or who they are bitching about. If your place is paid for what the hell do you need another mortgage for?

Well, most people, if they move, tend to "move up" and, unless they have the necessary liquid funds for the difference between the sold price (less taxes, fees, and broker commision) of the old house and the buying price of the new house, you will need a loan. Generally speaking, the better your credit score, the better the loan (lower interest rates) you will get.

If you are willing to run completely off the credit grid your entire life, then you have no need for a good credit score.

yes to good credit. no to excessive debt

Definitely! As I said, use your credit, don't abuse it. Put another way; "live with credit but not on credit".

 

[billiebob]

my property tax is about the same as my house payment

You get to control that with every municipal election. You just need to live with fewer services. Like street lights or paved roads. Arenas, swimming pools. Fire, ambulance, hospitals, libraries. My property taxes pay for services I want.