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Beginner's Credit Information

Definitions, explainations, where to begin

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    • 12-15 years ago I drove from San Diego to San Francisco and back over a long weekend.  That was the last time I did a road trip > 300 miles each way in a personal vehicle.   While I enjoyed the experience once, I'm never driving to SF again.  300+ miles trips are why we have airplanes.   I drive an average of 25 miles a week, so I don't see the range on this Porsche being a limited factor for me.  Plus it's a gorgeous car.
    • Thank you.  I'm not sweating it very much.  I've got a ton of inquiries right now and may hurt on some things, but right now I'm concentrating on obtaining a mortgage and was just pre-approved from my lender for a VA.  So that it first.  Then down the road when the score gets a little better I would like to get a AMEX Delta card since we fly Delta quite a bit.   Thanks again,   Joe
    • from the article:     less than 350 miles is NOT what I consider something capable of "consistently cover[ing] long distances" or that "epitomizes freedom."   Until a manufacturer comes out with something that is capable of actually doing long distance driving, then electric vehicles are simply not a viable option for those who actually depend on their vehicles...   It would be different if an electric vehicle could be charged and ready to go in the same two minutes or so that  it takes to fill a gas tank and go another 400-500 miles, but they are not even close. 
    • Congrats on your progress.     Don't sweat the old inquiries.  If you need credit to refinance something to save money, get a great rewards card, pick up an extended 0% offer, etc., by all means, use your good credit to your advantage.  
    • Unless you plan to refi for only the term that remained on the current note, then you may do just as well to shovel money at the existing note.  Nothing says you can only pay the monthly amount.  Plenty of people pay down car loans (and other notes) early by adding additional funds towards the principal.    The existing loan will continue to report for roughly a decade provided the lender continued to report the data.  Nothing obligates them to report their history with you.  The only requirement upon them is to report accurately IF they elect to report the loan performance.    And no, you cannot retroactively add a borrower to the note.  That requires a new contract.  And it is RARELY wise to put a boyfriend or a girlfriend on the title of ANYTHING.  If you thought divorces were messy, you ain't seen nothing until you go to sell a vehicle that is titled in two names, one of which you have no contact with and have not seen for many years...

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