Comments on: What’s Simeon been up to?

By: Simeon

Simeon — Thu, 18 Feb 2010 15:12:42 +0000

I think consumer debt (unsecured) banking were always cautious, the problem was how banks where ‘managing risk’ on house loans (secured debt) to maximise R.O.I. for the banks perspective. That and/or the bank I joined, had no problems during the “scary times” becuse the played it safe, but did make huge profits in 2008/2009.

By: Rowan

Rowan — Thu, 18 Feb 2010 01:13:56 +0000

Is this just the banks/companies being cautious because of the mess they got themselves into last year, or has it always been like that?

By: Stu

Stu — Wed, 17 Feb 2010 17:19:34 +0000

credit scores in the US are calculated by magic. nobody knows and its all a mystery. good luck with getting your score “up”. Isn’t it funny how you need an SSN to get a phone :) or pretty much anything else here.

By: Simeon

Simeon — Wed, 17 Feb 2010 15:24:37 +0000

The electricity/gas company was no so bad, they just wanted me to fax my SSN/passport to some random US number, and to have a $380 deposit, paid over 6 months so is not so bad.

What was annoying was the 1 1/2 hours to buy a phone (after having spent 40 minute previously to find we needed a SSN number for a contract) to then have to pay $400 deposit upfront due to no credit history. We get that back after 1 year if we are good.

I the bank gave us car loans but we had to have 30% down, and we got local’s rate, which was nice, we where expecting to have to buy the cars outright, so that was “nice”.

Where-as to get a CC we need to deposit the same amount we want as the limit, into a fixed CD deposit for at least 12 months. Then to maximise the CC history rating, we should not load the CC more than 1/3 of the limit. Otherwise will be flagged as a “risk”, almost pointless.

At least the car loans will start to build credit history.

By: Stu

Stu — Wed, 17 Feb 2010 14:02:06 +0000

yeah, I had my wife put my name on her oldest credit card as co-whatever, instant 15 year credit history! :) nice thing is getting electricity etc when you have no previous electric company vouching your a good customer. its a real pain in the ass getting everything setup.

By: Simeon

Simeon — Mon, 15 Feb 2010 21:17:36 +0000

Well the apartment fun is over, we have had the lease on our new house for over a week, but stayed first time last night, was really quite (excepting for the central heating), and all ours, only problem is we have no table/chairs or sofa’s yet, so eating tea sitting on the floor. Furniture is due in 3 weeks-ish.

By: Rowan

Rowan — Mon, 15 Feb 2010 09:19:11 +0000

Glad you are surviving. Sucks about the neighbors. Our upstairs neighbors seem to like moving the furniture around a lot, which is weird but bearable. Everyone at our complex seems to be learning the piano though which is not so cool.

By: Simeon

Simeon — Fri, 12 Feb 2010 14:36:25 +0000

Just got my SSN yesterday! Woot!, but now as I/we have no credit history, we still got rejected for a finance option last night. Then the didn’t want to take a “starter check” so will have to return with cash today.

GGRRRR!

By: Simeon

Simeon — Thu, 11 Feb 2010 22:20:15 +0000

They are liking/loving the snow, the coldness it’s self they are used too, but finding it restricting on playing space. Thus the cabin fever.

By: Stu

Stu — Thu, 11 Feb 2010 20:13:35 +0000

actually taxes a really easy here (since I dont need to file taxes in australia or england). were getting about 8k back in week. nice :) that will close out one of our debts completly (the car).

got a foot of snow in the back yard. how is your fam adjusting to the sub zero temps in the middle of the day? :)