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If you’re Donald Trump and a billionaire

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http://blogs.ajc.com/atlanta-bargain-hunte...rd-think-again/

The Credit CARD Act rolls out in full on Feb. 22. While three of the students in this classroom already have credit cards in their own name, the others will no longer be able to secure one independent of their parents. The questions the students posed brought home why the change isn’t necessarily a bad one.

 

They sounded like this:

 

“Are there exceptions to the perfect 850 credit score? If you’re Donald Trump and a billionaire, can you have a better score than 850?â€

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There are 100's or 1,000's of reasons (or excuses) why you won't get the magical number of 850

 

Not that you should lose any sleep over a random 3 digit number

Edited by GEORGE

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I'm guessing Trump's FICO probably kinda sucks, actually.

Should still be BETTER than "DR" THE SNAKE OIL SALESMAN's SCORE

Edited by GEORGE

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LOL. The truly rich people do not depend on credit, in fact pay cash for almost everything.. houses, cars, day to day living expenses (especially the "dirty money" rich people). Having an 850 doesnt mean you are a billionaire or even a millionaire, all that number is supposed to mean that you manage credit well, thats all... if you already pay cash for almost everything your score is most likely going to be "average."

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I have a friend who has a 19 year old step daughter that goes to the same college as my son does. This girl cannot even balance her check book. Although her parents have A+ credit, they will not teach this girl anything. My friend complains she has to put money in the bank, Give her pre paid gas cards, on top of her monthly allowance.

 

I really do not understand.

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I have a friend who has a 19 year old step daughter that goes to the same college as my son does. This girl cannot even balance her check book. Although her parents have A+ credit, they will not teach this girl anything. My friend complains she has to put money in the bank, Give her pre paid gas cards, on top of her monthly allowance.

 

I really do not understand.

 

You will crawl before you walk and if your parents don't teach you how to walk, how will you walk?

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LOL. The truly rich people do not depend on credit, in fact pay cash for almost everything.. houses, cars, day to day living expenses (especially the "dirty money" rich people). Having an 850 doesnt mean you are a billionaire or even a millionaire, all that number is supposed to mean that you manage credit well, thats all... if you already pay cash for almost everything your score is most likely going to be "average."

 

+1

 

Billionaires probably do not worry about credit. Credit means NEEDING the money (buying on time). Why worry about that if you have funds in the bank already.

 

I am thinking though that most would carry a card or two though for "spending".

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Donald Trump is a total creature of credit. In fact that is what saved him.

He owed the banks SO MUCH money that they were forced to work with

him to get him in the black again so they could get their money back.

For the average joe they would have just sent it to collections...

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LOL. The truly rich people do not depend on credit, in fact pay cash for almost everything.. houses, cars, day to day living expenses (especially the "dirty money" rich people). Having an 850 doesnt mean you are a billionaire or even a millionaire, all that number is supposed to mean that you manage credit well, thats all... if you already pay cash for almost everything your score is most likely going to be "average."

 

+1

 

Billionaires probably do not worry about credit. Credit means NEEDING the money (buying on time). Why worry about that if you have funds in the bank already.

 

I am thinking though that most would carry a card or two though for "spending".

 

-0.5 :aggressive::angry:

 

IMHO, millionaies and billionaires do worry about their credits since they are "secured" with their assets and/or names.

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I wonder why this is not routinely taught in some sort of life skills class. I think it would have served me better than some of the things I learned in that "home ec" class.

 

 

+1

 

Every HS student should be required to take a class on money management, credit and banking, etc. Probably could even be a half year class.

 

What is going to help them in the real world more, a gym class or the class I mentioned above.

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LOL. The truly rich people do not depend on credit, in fact pay cash for almost everything.. houses, cars, day to day living expenses (especially the "dirty money" rich people). Having an 850 doesnt mean you are a billionaire or even a millionaire, all that number is supposed to mean that you manage credit well, thats all... if you already pay cash for almost everything your score is most likely going to be "average."

 

+1

 

Billionaires probably do not worry about credit. Credit means NEEDING the money (buying on time). Why worry about that if you have funds in the bank already.

 

I am thinking though that most would carry a card or two though for "spending".

 

-0.5 :aggressive::angry:

 

IMHO, millionaies and billionaires do worry about their credits since they are "secured" with their assets and/or names.

 

To an extent. As long as their credit is "OK". Does not matter if a 650 or 850.... Of course, nobody wants delinquent accounts.

 

I do not see them working to raise their scores to get that Best Buy card. :angry:

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I wonder why this is not routinely taught in some sort of life skills class. I think it would have served me better than some of the things I learned in that "home ec" class.

 

 

+1

 

Every HS student should be required to take a class on money management, credit and banking, etc. Probably could even be a half year class.

 

What is going to help them in the real world more, a gym class or the class I mentioned above.

 

+1

 

Evident by many college freshman beginning their days of bad credit from impulsive spending they cannot back up.

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Donald Trump is a total creature of credit. In fact that is what saved him.

He owed the banks SO MUCH money that they were forced to work with

him to get him in the black again so they could get their money back.

For the average joe they would have just sent it to collections...

Hey, sounds like the U.S. and China

 

http://www.youtube.com/watch?v=rYxfMiRYwOQ

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Bob,

 

so are you a millionaire or billionaire? :P:mellow:

If I were a billionaire do you think I'd be slumming here? :lol:

 

I dunno...some of the company here is pretty good, so you might. :P

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Bob,

 

so are you a millionaire or billionaire? B):lol:

If I were a billionaire do you think I'd be slumming here? :P

 

I dunno...some of the company here is pretty good, so you might. :P

Where the hot supermodels at? :P

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Bob,

 

so are you a millionaire or billionaire? B):lol:

If I were a billionaire do you think I'd be slumming here? :P

 

I dunno...some of the company here is pretty good, so you might. :P

Where the hot supermodels at? :P

 

Mensa.org I'm sure. :P

 

Edited: Sorry...no .com...only .org.

Edited by TangMeister

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Bob,

 

so are you a millionaire or billionaire? :P:lol:

If I were a billionaire do you think I'd be slumming here? :P

 

I dunno...some of the company here is pretty good, so you might. :P

Where the hot supermodels at? :P

 

Mensa.org I'm sure. :P

 

Edited: Sorry...no .com...only .org.

Dang!

Should have joined when I still had all my IQ points. B)

 

And hair. :P

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Bob,

 

so are you a millionaire or billionaire? :PB)

If I were a billionaire do you think I'd be slumming here?

 

I dunno...some of the company here is pretty good, so you might.

Where the hot supermodels at? :P

 

Mensa.org I'm sure. :P

 

Edited: Sorry...no .com...only .org.

Dang!

Should have joined when I still had all my IQ points. :P

 

And hair. :P

 

 

Make up for it with personality. And order a drink beside a supermodel and ask politely..."...excuse me, but do you have change for a million?" And flash the Platinum Amex NOT the Capital One card. And isn't it time you go Centurion? :huh:

 

Now we are seriously..... :lol:

 

As usual. :P

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