Interest Rate and Credit Score

[RamblingMad]

Kids loving tick tok makes China our friend. LOL Ukraine has been destroyed.

Lots of fearmongering about China turning kids into little Communists.

 

[brockash]

Curious what others think. How do you feel about the idea of people who have high credit scores being penalized by having to pay a higher rate of interest so that people with lower credit scores can get a lower rate of interest?

So, you have two people applying for credit, one who regularly pays their bills on time and according to the terms of the loan, with a high credit score for that reason. The other person has low credit scores because they don’t pay their bills on time or according to the terms of their credit obligation. Should the first person be penalized by having to pay a higher rate of interest so that the person with lower credit scores can get a lower rate of interest?

Typically, a person who has a good or high credit score gets a more favorable credit rate as opposed to the person with low credit scores. One is considered a good credit risk while the other is considered a risky or poor credit risk. I guess it’s a way to reward the person who pays bills on time. Lenders do favor the persons with higher credit scores with better rates, it’s like the less you need the money the better the rate of interest.

So, what do you think? Is it fair to increase the interest rate on the person with good credit and lower the interest rate for the person with poor credit and why?

Totally nuts.

 

[Pea-n-Me]

I see some here subscribe to the Ostrich Philosophy.

 

[Ms.Minnie]

China is our friend. All of the kids love TikTok. Russia will eventually give up on Ukraine. And nuclear will never happen. Nothing to worry about.

Do you really believe what you wrote in bold? I'm not sure we are living on the same planet.

 

[RamblingMad]

Do you really believe what you wrote in bold? I'm not sure we are living on the same planet.

It was a joke. Have you seen V?

 

[Ms.Minnie]

It was a joke. Have you seen V?

View attachment 756343

Well, if it was a joke, I didn't get it. Yes, I did watch V and I liked it very much, I just wish they had given us an ending.

 

[RamblingMad]

Well, if it was a joke, I didn't get it. Yes, I did watch V and I liked it very much, I just wish they had given us an ending.

Both miniseries were great. And I’m sure China is fine and blown out of proportion in our media. I really have to go there myself.

The TikTok CEO grilling was over the top ridiculous. If it gets banned, a whole generation of kids are going to be mad. The alternative is Zuck, which I can’t see being much better.

 

[Party.Of.4-NY>>>FL]

The TikTok CEO grilling was over the top ridiculous. If it gets banned, a whole generation of kids are going to be mad…..

….then the Whos down in Whoville will all cry, "Boo Hoo.'

 

[DCLMP]

Lots of fearmongering about China turning kids into little Communists.

I’m more concerned about them selling off US treasuries. I don’t pay attention to the silly distractions.

 

[RamblingMad]

I’m more concerned about them selling off US treasuries. I don’t pay attention to the silly distractions.

They’ve already been doing that over the last decade. Their share of US treasuries is down.

https://www.reuters.com/markets/asia/china-slips-away-treasuries-sticks-with-dollar-bonds-2023-02-22/#:~:text=Around 60% is thought to,to more than $300 billion.

https://www.npr.org/transcripts/1119126863

 

[Kennywood]

Meanwhile, this discriminatory policy is suppose be enacted on Monday, 05-01-23.

I really hope that this gets taken to court.

 

[GAN]

In a democracy “we the people” would vote on war. Ironically they want us to send our kids to fight for democracy in other countries. How has that worked out.
It’s going to be very hard for them to drum up support for another war People are waking up to the lies and I think we social media and alternative news sources to thank for that.

The closest description for our government is a Democratic Republic, a form of Democracy, you elect/vote people to represent you. This is the Way.....

 

[DCLMP]

The closest description for our government is a Democratic Republic, a form of Democracy, you elect/vote people to represent you. This is the Way.....

I see you missed my point entirely.

 

[DCLMP]

I see some here subscribe to the Ostrich Philosophy.

Ha ha. I had to look that up I’ve never heard of that.

It is hard to make space in you brain for worst case scenarios. I feel being mentally prepared for anything is the right thing for myself. It doesn’t work for some people.

 

[DCLMP]

They’ve already been doing that over the last decade. Their share of US treasuries is down.

https://www.reuters.com/markets/asia/china-slips-away-treasuries-sticks-with-dollar-bonds-2023-02-22/#:~:text=Around 60% is thought to,to more than $300 billion.

https://www.npr.org/transcripts/1119126863

It accelerated over the last year. Why is that?

 

[GAN]

I see you missed my point entirely.

Sorry….I’m having a difficult time managing your points

 

[DCLMP]

Sorry….I’m having a difficult time managing your points

It‘s the irony behind fighting for democracy when we’re not a democracy. Politicians love to throw around that word.

 

[GAN]

It‘s the irony behind fighting for democracy when we’re not a democracy. Politicians love to throw around that word.

You lost me…. If you live in the United States, you are taking part in a democracy. I probably just worked too hard today!

 

[greeneyedchick]

I can’t reconcile that math. A .125% increase on a $400k balance is a one time fee of $500.

No idea where this $40 month comes from.

And most people aren’t in their homes with the same mortgage for 30 years. It’s usually around 5-10 years. The average consumer wastes more in moving costs and real estate fees.

I believe the article I read said it was 5%, not .125%.

 

[greeneyedchick]

You lost me…. If you live in the United States, you are taking part in a democracy. I probably just worked too hard today!

The US is a constitutional republic, not a democracy.