why not?

Current License: CC BY-SA 3.0

7 events

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Oct 4, 2016 at 20:53	comment	added	AbraCadaver		@Trevel: Not to belabor the point, but debit cards work for anything that credit cards do, and manual underwriting for a mortgage when you have a down payment, income and no credit score (won't work with bad credit, but no credit yes).
Oct 4, 2016 at 20:51	comment	added	Trevel		@AbraCadaver That's all well and good but what I was after was a house, and I wasn't paid THAT well. Plus it's nice to be able to order things from Amazon.
Oct 4, 2016 at 20:02	comment	added	AbraCadaver		@Trevel: I respectfully would say that you were foolish to start off borrowing money when you had reliable income and great savings to fund purchases.
Dec 15, 2015 at 16:15	comment	added	Trevel		I foolishly graduated without getting into debt; I had no credit history. Despite having full time work at a reliable company and ~30K in a savings account, I couldn't get time-of-day from a bank, much less a credit card. No one was willing to take the first chance. My father co-signed; I now have a stellar credit rating. The banks were wrong. If you know better than the bank, why not take the mild risk that they won't?
Aug 20, 2014 at 0:46	comment	added	Kate Gregory		I disagree, and the 5 paragraphs above say why. It is possible for me to know more than the bank about some particular borrowers, and therefore make a decision the bank would not make.
Aug 20, 2014 at 0:11	comment	added	chili555		Please read this again: "If they need a co-borrower, it means the bank thinks that they are not a good loan risk, and by their calculations they won't be able to pay back the loan." That means that you will have to repay the loan or suffer damage to your credit score.
Aug 19, 2014 at 23:31	history	answered	Kate Gregory	CC BY-SA 3.0