Whatever guys, thread open. (2 Viewers)

[Eminence]

Don't worry Em, in seven years that collection will come off.

Don't worry coach, that'll be paid off soon.

 

[optionmaven]

Hemp could rebound here somewhat at this level. Looking at charts though, i could see it retest 8 cents again sometime in the future as well.

 

[Eminence]

Hemp could rebound here somewhat at this level. Looking at charts though, i could see it retest 8 cents again sometime in the future as well.

Yup, I have 4 Marijuana stocks that I watch:

HEMP

MJNA

GRNH

PHOT

I throw my lump sum into one of these when they appear to be at a low. Right now, it's HEMP.

 

[The Gator]

ERBB

 

[fantasycurse42]

Hemp could rebound here somewhat at this level. Looking at charts though, i could see it retest 8 cents again sometime in the future as well.

Looking into the companies financials and doing some digging on the CEO, I can see it testing 0 at some point... Maybe it plays up and down, but the ticket here leads to misery at the end of the journey.

 

[Eminence]

Hemp could rebound here somewhat at this level. Looking at charts though, i could see it retest 8 cents again sometime in the future as well.

Looking into the companies financials and doing some digging on the CEO, I can see it testing 0 at some point... Maybe it plays up and down, but the ticket here leads to misery at the end of the journey.

I doubt this happens before all 50 States legalize. The bubble hasn't even formed completely yet.I fully acknowledge this is a game of hot potato.

 

[Eminence]

ERBB

Hey man, thanks for the heads up!

 

[jwp]

Don't worry Em, in seven years that collection will come off.

Don't worry coach, that'll be paid off soon.

Oh I see, then that derogatory mark on your credit report comes off with it. I've had it wrong all these years. Thanks for setting me straight!

 

[Plorfu]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Awesome.

Midland = Collection agency, right?

First Premier = Usury credit card that starts you off with almost as many fees as the credit line itself, right?

 

[optionmaven]

ERBB

A much nicer looking chart than hemp. Do you have any info on the company before i check into them?

 

[Tom Servo]

BLST

 

[[icon]]

Don't worry Em, in seven years that collection will come off.

Don't worry coach, that'll be paid off soon.

good lord you really are clueless as to how credit reports work, aren't you?

 

[Eminence]

Don't worry Em, in seven years that collection will come off.

Don't worry coach, that'll be paid off soon.

Oh I see, then that derogatory mark on your credit report comes off with it. I've had it wrong all these years. Thanks for setting me straight!

No, but simply paying the debt off will increase my credit rating. It's an old debt from 2010 so that would be only another 3 years. The debt in question is only about $800 and by the end of the year that should pail in comparison to what my financial situation looks like.

Not saying you don't have a valid point, there are just a few variables that are going to make it insignificant.

 

[Eminence]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Awesome.

Midland = Collection agency, right?

First Premier = Usury credit card that starts you off with almost as many fees as the credit line itself, right?

Midland = Credit Card through my bank. $2,000 limit.

First Premier = My first "real" credit card. Had a small fee to get going but was worth it because it got my credit score out from the 300 range.

 

[Cliff Clavin]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

 

[Tom Servo]

Midland = Credit Card through my bank. $2,000 limit.

First Premier = My first "real" credit card. Had a small fee to get going but was worth it because it got my credit score out from the 300 range.

 

[Sarnoff]

Midland = Credit Card through my bank. $2,000 limit.

First Premier = My first "real" credit card. Had a small fee to get going but was worth it because it got my credit score out from the 300 range.

That's shtick, right? They don't really go down that low, do they? Isn't it like the SAT where you get 400 for just writing your name down? I mean, there isn't some homeless dude out there with a FICO score of, like, "6", is there?

 

[Tom Servo]

Midland = Credit Card through my bank. $2,000 limit.

First Premier = My first "real" credit card. Had a small fee to get going but was worth it because it got my credit score out from the 300 range.

That's shtick, right? They don't really go down that low, do they? Isn't it like the SAT where you get 400 for just writing your name down? I mean, there isn't some homeless dude out there with a FICO score of, like, "6", is there?

That's why I'm laughing. IIRC you get 400 just by living.

 

[Eminence]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.

To me, 20% increase to 726 is significant.

 

[Keerock]

Midland = Credit Card through my bank. $2,000 limit.

First Premier = My first "real" credit card. Had a small fee to get going but was worth it because it got my credit score out from the 300 range.

That's shtick, right? They don't really go down that low, do they? Isn't it like the SAT where you get 400 for just writing your name down? I mean, there isn't some homeless dude out there with a FICO score of, like, "6", is there?

That's why I'm laughing. IIRC you get 400 just by living.

Em's credit rating was SO bad...

 

[Keerock]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.

To me, 20% increase to 726 is significant.

Not gonna happen. Not for a while anyway.

 

[Eminence]

Midland = Credit Card through my bank. $2,000 limit.

First Premier = My first "real" credit card. Had a small fee to get going but was worth it because it got my credit score out from the 300 range.

That's shtick, right? They don't really go down that low, do they? Isn't it like the SAT where you get 400 for just writing your name down? I mean, there isn't some homeless dude out there with a FICO score of, like, "6", is there?

It was like 19 years old at the time.

 

[Cliff Clavin]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.

To me, 20% increase to 726 is significant.

In your own words, please explain what all goes into a credit score.

 

[Eminence]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.To me, 20% increase to 726 is significant.

Not gonna happen. Not for a while anyway.

I had a score of about 630, buried myself in debt, it dropped to 605. I assume it'll start steadily increasing if I charge all monthly expense and pay them off on time.

 

[Keerock]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.To me, 20% increase to 726 is significant.

Not gonna happen. Not for a while anyway.

I had a score of about 630, buried myself in debt, it dropped to 605. I assume it'll start steadily increasing if I charge all monthly expense and pay them off on time.

I'm not saying you'll never get there, but with a whopping $2500 in credit available to you, even if you're not using any of it and pay off your balance every month, you'll be hard pressed to get there.

 

[Eminence]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.To me, 20% increase to 726 is significant.

In your own words, please explain what all goes into a credit score.

I'm fairly certain it is determined by your ability and trustworthiness to pay off your debts.

If you are making monthly payments but owe a lot of money, your credit will not improve.

 

[Eminence]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.To me, 20% increase to 726 is significant.

Not gonna happen. Not for a while anyway.

I had a score of about 630, buried myself in debt, it dropped to 605. I assume it'll start steadily increasing if I charge all monthly expense and pay them off on time.

I'm not saying you'll never get there, but with a whopping $2500 in credit available to you, even if you're not using any of it and pay off your balance every month, you'll be hard pressed to get there.

I have a $1,500 card I am waiting to activate. So there's a bit more there.

 

[jon_mx]

Hemp could rebound here somewhat at this level. Looking at charts though, i could see it retest 8 cents again sometime in the future as well.

Looking into the companies financials and doing some digging on the CEO, I can see it testing 0 at some point... Maybe it plays up and down, but the ticket here leads to misery at the end of the journey.

Yeah, i am not seeing the value of a 4 person consulting company. This company is all smoke and mirrors and value is pure ignorant hype.

 

[sbonomo]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.

To me, 20% increase to 726 is significant.

Em...i lend money for a living.....if you have all of these late payments on your credit history no one is doing to lend you anything. You need to stop buying stocks and start fixing your credit....You really have no clue......

 

[[icon]]

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.

To me, 20% increase to 726 is significant.

There is roughly 0% chance of your score moving 121 points by paying off your cards...ESPECIALLY with a collection on your account.

Basically once you get to 30% credit utilization that's your maximum positive effect you're going to have on your score. I'm guessing paying down to 30% Credit utilization might net you 30-40 points MAX (assuming your borderline maxed on the other cards now).

You'll still be no way NEAR a "good" credit score, nor will you be able to get a decent mortgage or auto loan rates.

 

[[icon]]

I have a $1,500 card I am waiting to activate. So there's a bit more there.

Adding new card to the rotation will decrease the average age of your credit accounts, which will hurt your credit score.

 

[siffoin]

It's very difficult to actually follow along with your ideas. I thought you sold HEMP at $.08...and never got in because it gapped up without you being in the position. If I'm incorrect with this assumption my apologies. But again...why not just post your "hypothetical" trades into a public portfolio tracker. That way you can show what moves you would make in real time if you had an actual portfolio to trade.

Here's a template:

https://docs.google.com/spreadsheet/ccc?key=0Akv7baESuMCGdGlSLWg1dTN1SDZMenBkejFHdVRqaXc&usp=sharing

Give yourself a opening account of $100k, and see what you could actually do.

Ok. I set up the spreadsheet for you. I invested equally $5k into each of your 18 selected picks for a total of $90k. The purchase price per share was from today around 1:30 MT. You can either post when you want to close a trade and I'll do it for you. If you want me to post your trades the price will be at the close of the day you post. If you post that you want to close a trade AFTER the market closes. The price will be the close of the following day. Or you can use the template and set it up for yourself and post the link here (preferred method as far as I'm concerned).

Good luck. I even own a few of your picks (not the weed ones though...the real companies) so I'm rooting for a big "W".

Looks like you are essentially break-even on this portfolio since Feb 7th. If you have no real interest in actually "strategically buying and selling" ...I'm happy to take it down. Might be better for you.

 

[ShaHBucks]

If your goal is to pay off all of your credit cards, why the #### do you care about your credit score? I guess because you don't believe in saving some cash for a rainy day. Carry on.

 

[TheIronSheik]

This thread is officially on life support.

 

[Eminence]

This thread is officially on life support.

My finances are the best they've ever been in my life. My Walgreens stock is up 30%. I am about to get my Associates Degree this November. If this thread is on "life support" then this board is a group of the most spiteful people I have ever met in my life.

 

[Eminence]

If your goal is to pay off all of your credit cards, why the #### do you care about your credit score? I guess because you don't believe in saving some cash for a rainy day. Carry on.

Dude, I make $1,600 a month. 1/4 of that goes to Walgreens Stock. My credit debt only amounts to about $1,500. You don't think it would be a bad idea to pay them all off and simply charge my monthly expenses?

Charge 6 months of auto insurance.

Charge 6 months of cell service.

Etc.

The money would 100% be there.

 

[Eminence]

Got my federal return in, it was $721. I placed it directly on my credit card with the largest balance and it's now down to $700.

$900 Midland.

$700 First Premier

$500 Bill Me Later

Only $1,600 remaining in credit debt. Bill Me Later only reports to credit bureaus if you don't pay. I've been making monthly payments so I'm fine. My credit score should see significant increase once I get this to zero.

I don't think you understand how credit scores work.

What, you mean when the credit burea's send me my credit score and list:

"Unusually high balances" as a reason my score isn't higher that lowering the balances isn't going to increase my credit score? Who has a better credit rating? Someone who owes $3,000? Or someone who owes nothing and continues to pay all his bills on time?

You're proving his point, sparky.

High credit card balances relative to your borrowing limit is definitely going to have a negative impact on your credit score.

Sure. But the kid thinks he's going to get a massive boost the day he pays off a card. He really has no clue what a credit score is based on.

Ok, well it's 605 right now. Let's see how "significantly" it increases once I get everything to zero.

To me, 20% increase to 726 is significant.

Em...i lend money for a living.....if you have all of these late payments on your credit history no one is doing to lend you anything. You need to stop buying stocks and start fixing your credit....You really have no clue......

I don't have any late payments on my history. Where did any of that come from? All my bills are paid off a month in advance.

 

[ShaHBucks]

If your goal is to pay off all of your credit cards, why the #### do you care about your credit score? I guess because you don't believe in saving some cash for a rainy day. Carry on.

Dude, I make $1,600 a month. 1/4 of that goes to Walgreens Stock. My credit debt only amounts to about $1,500. You don't think it would be a bad idea to pay them all off and simply charge my monthly expenses?

Charge 6 months of auto insurance.

Charge 6 months of cell service.

Etc.

The money would 100% be there.

That sounds brilliant since you put it that way. Sorry

 

[fantasycurse42]

I don't think it's possible to have a credit score in the 300's....

Honestly, if I maxed my cards out, took out a personal loan from Wells Fargo, leased a car, & borrowed from anywhere else, then didn't pay back a dollar, I still think I'm higher then the 3's.

How can a credit score be that low?

 

[Eminence]

I don't think it's possible to have a credit score in the 300's....

Honestly, if I maxed my cards out, took out a personal loan from Wells Fargo, leased a car, & borrowed from anywhere else, then didn't pay back a dollar, I still think I'm higher then the 3's.

How can a credit score be that low?

Do you want me to post proof? I keep records of things like this.

 

[Eminence]

Here ya' go: http://postimg.org/image/ruesu0gyh/

 

[tonydead]

I have a $1,500 card I am waiting to activate. So there's a bit more there.

Apply for as many credit cards as possible (just don't use them). Just having as much credit available to you as possible makes your credit score go up and up. Even apply for some car loans with no intention of using any.

 

[fantasycurse42]

Here ya' go: http://postimg.org/image/ruesu0gyh/

Doesn't the scale start at 350? I didn't check, but isn't 334 below possible?

 

[Eminence]

Here ya' go: http://postimg.org/image/ruesu0gyh/

Doesn't the scale start at 350? I didn't check, but isn't 334 below possible?

The scale on whatever they were ranking me on there started at 300 and ran through 600.

 

[tonydead]

"In order to receive a 300, you would have to a find a way to bottom out in each category. This means, as (FICO spokesman Barry) Paperno explains, you would need to open up a bunch of new credit cards, max them out almost immediately, file for bankruptcy the very next day and then head back out and apply for more credit cards."

From a quick google. More evidence of a fishing trip, obviously he knows what the lowest possible score is and he would have mentioned filing for bankruptcy before.

 

[jon_mx]

Here ya' go: http://postimg.org/image/ruesu0gyh/

Doesn't the scale start at 350? I didn't check, but isn't 334 below possible?

It is theoretically possible to get down to 300

 

[Eminence]

"In order to receive a 300, you would have to a find a way to bottom out in each category. This means, as (FICO spokesman Barry) Paperno explains, you would need to open up a bunch of new credit cards, max them out almost immediately, file for bankruptcy the very next day and then head back out and apply for more credit cards."

From a quick google. More evidence of a fishing trip, obviously he knows what the lowest possible score is and he would have mentioned filing for bankruptcy before.

I'm a ghost.

 

[tonydead]

"In order to receive a 300, you would have to a find a way to bottom out in each category. This means, as (FICO spokesman Barry) Paperno explains, you would need to open up a bunch of new credit cards, max them out almost immediately, file for bankruptcy the very next day and then head back out and apply for more credit cards."

From a quick google. More evidence of a fishing trip, obviously he knows what the lowest possible score is and he would have mentioned filing for bankruptcy before.

I'm a ghost.

Either way you're not very bright.

 

[Sarnoff]

I don't think it's possible to have a credit score in the 300's....

Honestly, if I maxed my cards out, took out a personal loan from Wells Fargo, leased a car, & borrowed from anywhere else, then didn't pay back a dollar, I still think I'm higher then the 3's.

How can a credit score be that low?

I think you'd have to be a millionaire. A legit, cash-money millionaire with a legit seven-figure annual income. Then take out loans. Leverage yourself to 5 or 10 times your actual net worth. Like if you have $25 million in the bank and are earning $1 million a year, take out 100 $1mil loans. Take all the money out of the bank in a cash. One of those cartoony bags. Then post a video of yourself on youtube setting all that money on fire in the parking lot. Then quit your job, declare bankruptcy, and apply for 100 more $1mil loans to fund a private land war in Asia. Then, maybe, just maybe, they'll knock you down to 320.

 

[fantasycurse42]