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      05-03-2019, 08:49 AM   #89
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Just got $90 cash back on my credit card, love getting extra money I wasn't expecting.
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      05-03-2019, 08:51 AM   #90
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Quote:
Originally Posted by NEfan508 View Post
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Originally Posted by David70 View Post
Quote:
Originally Posted by Kolyan2k View Post
Mine dropped as soon as I paid off my mortgage. Not that it matters... I think past certain number it's all excellent for creditors
I agree, at some point it really doesn't matter and the rate you get charges doesn't go down anymore.

I only have my mortgage as a loan and at 2.75% am only paying as required.
You don't get a tShirt for 850, as long as your above 730? You get best rate

I was 800+ on all my scores yet bmw finance manager (Dealer) still inflated my rate...

"Mr. Miller, I think with a little push I can squeeze you in a tier 2 loan with BMW financial" I'll do my best, lol

Have a mortgage since I was 19 years old, several investment properties mostly all 70%+ paid off and over 10 vehicles leased/financed past 15 years but the BMW Stealer wants to squeeze me in a tier 2 rate

I thought paying sticker the dealer would play by the rules (plenty of meat on the bone) for the deal but no, greed and games, lies to my face

On what grounds Base rate isn't avail to me? only bmw does this for more profit imo
Yeah I'm not pushing to get 850. I'm usually around 825 to 840 just doing what I do every day, normal spending and paying off cards when due, paying my mortgage, etc. If BMW won't give you their best rate I would look elsewhere.
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      05-03-2019, 09:01 AM   #91
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Quote:
Originally Posted by NEfan508 View Post
You don't get a tShirt for 850, as long as your above 730? You get best rate

I was 800+ on all my scores yet bmw finance manager (Dealer) still inflated my rate...

"Mr. Miller, I think with a little push I can squeeze you in a tier 2 loan with BMW financial" I'll do my best, lol

Have a mortgage since I was 19 years old, several investment properties mostly all 70%+ paid off and over 10 vehicles leased/financed past 15 years but the BMW Stealer wants to squeeze me in a tier 2 rate

I thought paying sticker the dealer would play by the rules (plenty of meat on the bone) for the deal but no, greed and games, lies to my face

On what grounds Base rate isn't avail to me? only bmw does this for more profit imo
There's a couple of ways to make money on selling cars, higher initial price, add options, lower trade value, extended warranties, service contracts, and lease/finance rates (anything else?). All of these variables help the overall margin and they as a smart business try to maximize profits. As said you don't have to take it.

To me leasing seems to add a lot more variables than buying. Not necessarily a good or bad thing, just more to be educated on.

It's part of the reason I think the idea of "no haggle" on the initial price as a way to solve the problem is a joke. There are still many items to negotiate on.
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      05-03-2019, 09:40 AM   #92
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Quote:
Originally Posted by bimmer456 View Post
Quote:
Originally Posted by NEfan508 View Post
Quote:
Originally Posted by David70 View Post
Quote:
Originally Posted by Kolyan2k View Post
Mine dropped as soon as I paid off my mortgage. Not that it matters... I think past certain number it's all excellent for creditors
I agree, at some point it really doesn't matter and the rate you get charges doesn't go down anymore.

I only have my mortgage as a loan and at 2.75% am only paying as required.
You don't get a tShirt for 850, as long as your above 730? You get best rate

I was 800+ on all my scores yet bmw finance manager (Dealer) still inflated my rate...

"Mr. Miller, I think with a little push I can squeeze you in a tier 2 loan with BMW financial" I'll do my best, lol

Have a mortgage since I was 19 years old, several investment properties mostly all 70%+ paid off and over 10 vehicles leased/financed past 15 years but the BMW Stealer wants to squeeze me in a tier 2 rate

I thought paying sticker the dealer would play by the rules (plenty of meat on the bone) for the deal but no, greed and games, lies to my face

On what grounds Base rate isn't avail to me? only bmw does this for more profit imo
Yeah I'm not pushing to get 850. I'm usually around 825 to 840 just doing what I do every day, normal spending and paying off cards when due, paying my mortgage, etc. If BMW won't give you their best rate I would look elsewhere.
Ordered car, dealer had allocation, normally I would confirm rate then shop for best maybe credit union would be better but 2.89% I thought was locked, weeks later after deposit and time for final down payment (cars almost built) vin# etc. Dealer offered 5.5%! to late to go to my credit union @ 3% so we settled on 4.24%

verbal agreement on base rate with my score then when time came to get it they played games for a higher rate

My fault for not confirming, bottom line is I love the car, my son too (13 years old) he hand washed it in the rain/mist lol
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      05-03-2019, 10:28 AM   #93
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Originally Posted by PoorLurker View Post
seriously!

Credit cards are lame!

People always paying for starbucks and other coffee they can't afford just to look cool!

Cash or nothing! I don't need to front. You should see all the looks of admiration when I pay for cash. It speaks volumes.

Speaking of volume. .. Once paid for a calzone using coins. People were like dang - this is a man who knows his money.

Dang bro! You're so cool and awesome and I look up to you and admire you!

Can you teach me the ways of not understanding how to make money on rewards with Credit Cards, or how borrowing at 0% while my investments are beating inflation and I stay liquid is a bad thing?

Your "flex" about making/having a lot of money really just shows your ignorance.
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      05-03-2019, 10:50 AM   #94
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Quote:
Originally Posted by NEfan508 View Post
Quote:
Originally Posted by bimmer456 View Post
Quote:
Originally Posted by NEfan508 View Post
Quote:
Originally Posted by David70 View Post
Quote:
Originally Posted by Kolyan2k View Post
Mine dropped as soon as I paid off my mortgage. Not that it matters... I think past certain number it's all excellent for creditors
I agree, at some point it really doesn't matter and the rate you get charges doesn't go down anymore.

I only have my mortgage as a loan and at 2.75% am only paying as required.
You don't get a tShirt for 850, as long as your above 730? You get best rate

I was 800+ on all my scores yet bmw finance manager (Dealer) still inflated my rate...

"Mr. Miller, I think with a little push I can squeeze you in a tier 2 loan with BMW financial" I'll do my best, lol

Have a mortgage since I was 19 years old, several investment properties mostly all 70%+ paid off and over 10 vehicles leased/financed past 15 years but the BMW Stealer wants to squeeze me in a tier 2 rate

I thought paying sticker the dealer would play by the rules (plenty of meat on the bone) for the deal but no, greed and games, lies to my face

On what grounds Base rate isn't avail to me? only bmw does this for more profit imo
Yeah I'm not pushing to get 850. I'm usually around 825 to 840 just doing what I do every day, normal spending and paying off cards when due, paying my mortgage, etc. If BMW won't give you their best rate I would look elsewhere.
Ordered car, dealer had allocation, normally I would confirm rate then shop for best maybe credit union would be better but 2.89% I thought was locked, weeks later after deposit and time for final down payment (cars almost built) vin# etc. Dealer offered 5.5%! to late to go to my credit union @ 3% so we settled on 4.24%

verbal agreement on base rate with my score then when time came to get it they played games for a higher rate

My fault for not confirming, bottom line is I love the car, my son too (13 years old) he hand washed it in the rain/mist lol
Yeah I took their word on it that it was a good rate as well. It sounded good and they have their financing arm right there ready to take care of everything. I figured I could always refinance later so no biggie.
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      05-03-2019, 10:58 AM   #95
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Quote:
Originally Posted by OkieSnuffBox View Post
Quote:
Originally Posted by PoorLurker View Post
seriously!

Credit cards are lame!

People always paying for starbucks and other coffee they can't afford just to look cool!

Cash or nothing! I don't need to front. You should see all the looks of admiration when I pay for cash. It speaks volumes.

Speaking of volume. .. Once paid for a calzone using coins. People were like dang - this is a man who knows his money.

Dang bro! You're so cool and awesome and I look up to you and admire you!

Can you teach me the ways of not understanding how to make money on rewards with Credit Cards, or how borrowing at 0% while my investments are beating inflation and I stay liquid is a bad thing?

Your "flex" about making/having a lot of money really just shows your ignorance.
I just got $91 cash back yesterday I was like yeah boi! I see folks use cash and especially if they whip out pennies it holds up the line and why pay full price? They finally have self check out at Ralph's and I think those machines accept cash as well, not sure about coins though. They have enough of the self check out to virtually eliminate lines so if you prefer cash because you're worried about id theft or want to remain anonymous that is still an option on self checkout (I believe it makes change with coins but not sure if you can pay with them)
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      05-03-2019, 11:05 AM   #96
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Quote:
Originally Posted by bimmer456 View Post
Quote:
Originally Posted by OkieSnuffBox View Post
Quote:
Originally Posted by PoorLurker View Post
seriously!

Credit cards are lame!

People always paying for starbucks and other coffee they can't afford just to look cool!

Cash or nothing! I don't need to front. You should see all the looks of admiration when I pay for cash. It speaks volumes.

Speaking of volume. .. Once paid for a calzone using coins. People were like dang - this is a man who knows his money.

Dang bro! You're so cool and awesome and I look up to you and admire you!

Can you teach me the ways of not understanding how to make money on rewards with Credit Cards, or how borrowing at 0% while my investments are beating inflation and I stay liquid is a bad thing?

Your "flex" about making/having a lot of money really just shows your ignorance.
I just got $91 cash back yesterday I was like yeah boi!
How I fly and stay for little costs is using points, using cash is fine but why not get rewards paying with a CC

My family still likes cash, they think it's 1 point per dollar, why bother it'll take 20 years to get first class to Paris, NO, use a strategy, bonuses, spend in categories it adds up

How I travel all over the place for cheap!
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      05-03-2019, 11:08 AM   #97
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So BofA was threatening to cancel my credit card if I didn't use it, which would have lowered my credit score. Today was the last day to use it without getting screwed even though I did nothing wrong. With no physical card and thus no security code I couldn't use the card but a stroke of genius told me to add it to Apple Pay. Now credit score is safe. Pretty lame that I would be punished if I didn't charge anything to the card. Seems counterintuitive ya think?
BTW this was governments solution for people who had too many credit cards. Your Credit Rating goes down for each card you have open, add up all the CC credit limits and that is your total debt risk, the higher this is the worse your rating.

The Government now requires anyone who issues you a CC even store cards to close the card if you do not use it. I never heard the credit rating going down because you reduced your credit debt risk or a card closing. I had number of cards close in the last year and rate keeps going up.
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      05-03-2019, 11:09 AM   #98
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Quote:
Originally Posted by NEfan508 View Post
Quote:
Originally Posted by bimmer456 View Post
Quote:
Originally Posted by OkieSnuffBox View Post
Quote:
Originally Posted by PoorLurker View Post
seriously!

Credit cards are lame!

People always paying for starbucks and other coffee they can't afford just to look cool!

Cash or nothing! I don't need to front. You should see all the looks of admiration when I pay for cash. It speaks volumes.

Speaking of volume. .. Once paid for a calzone using coins. People were like dang - this is a man who knows his money.

Dang bro! You're so cool and awesome and I look up to you and admire you!

Can you teach me the ways of not understanding how to make money on rewards with Credit Cards, or how borrowing at 0% while my investments are beating inflation and I stay liquid is a bad thing?

Your "flex" about making/having a lot of money really just shows your ignorance.
I just got $91 cash back yesterday I was like yeah boi!
How I fly and stay for little costs is using points, using cash is fine but why not get rewards paying with a CC

My family still likes cash, they think it's 1 point per dollar, why bother it'll take 20 years to get first class to Paris, NO, use a strategy, bonuses, spend in categories it adds up

How I travel all over the place for cheap!
Yeah I have a travel card as well I can use points/miles for airline, hotel including Airbnb and car rental. Was able to stay in a few places for free. Even covers parking!
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      05-03-2019, 11:13 AM   #99
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Quote:
Originally Posted by Maestro View Post
Quote:
Originally Posted by bimmer456 View Post
So BofA was threatening to cancel my credit card if I didn't use it, which would have lowered my credit score. Today was the last day to use it without getting screwed even though I did nothing wrong. With no physical card and thus no security code I couldn't use the card but a stroke of genius told me to add it to Apple Pay. Now credit score is safe. Pretty lame that I would be punished if I didn't charge anything to the card. Seems counterintuitive ya think?
BTW this was governments solution for people who had too many credit cards. Your Credit Rating goes down for each card you have open, add up all the CC credit limits and that is your total debt risk, the higher this is the worse your rating.

The Government now requires anyone who issues you a CC even store cards to close the card if you do not use it. I never heard the credit rating going down because you reduced your credit debt risk or a card closing. I had number of cards close in the last year and rate keeps going up.
I have several credit cards that I use because of the benefits. It doesn't lower your score based on the number of accounts it's the age of your newest account and their standing. Your score will dip when you open an account and should recover. If you open more than one in a short period of time it could have a bigger negative impact for a longer period of time before recovering. Leaving the accounts open won't lower your score. Closing one doesn't appear to have a huge negative effect as they may have changed the rules as that didn't make much sense.
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      05-03-2019, 11:43 AM   #100
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Quote:
Originally Posted by PoorLurker View Post
seriously!

Credit cards are lame!

People always paying for starbucks and other coffee they can't afford just to look cool!

Cash or nothing! I don't need to front. You should see all the looks of admiration when I pay for cash. It speaks volumes.

Speaking of volume. .. Once paid for a calzone using coins. People were like dang - this is a man who knows his money.

I don't understand the misconception some have over credit card use. Many of us aren't using them to pay for things we can't afford. The cards are used for regular day to day purchases and are paid off each month. Essentially, it is like using cash without having to carry cash, while also having the opportunity to earn points for travel or cash back, and having the various consumer protections provided by the credit card companies.
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      05-03-2019, 11:57 AM   #101
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Quote:
Originally Posted by JasonCSU View Post
Quote:
Originally Posted by PoorLurker View Post
seriously!

Credit cards are lame!

People always paying for starbucks and other coffee they can't afford just to look cool!

Cash or nothing! I don't need to front. You should see all the looks of admiration when I pay for cash. It speaks volumes.

Speaking of volume. .. Once paid for a calzone using coins. People were like dang - this is a man who knows his money.

I don't understand the misconception some have over credit card use. Many of us aren't using them to pay for things we can't afford. The cards are used for regular day to day purchases and are paid off each month. Essentially, it is like using cash without having to carry cash, while also having the opportunity to earn points for travel or cash back, and having the various consumer protections provided by the credit card companies.
Average household in USA has $7k'ish in Credit card debt

20% know about this hobby, how to maximize the return and benefits

1 card for rental car insurance, 1 card for grocery store, 1 for paying utilities cellphone etc
3,4 sometimes 5xs per dollar
Much much more than a point per dollar and some nice signup bonuses

In the late 1990's bank of Boston gave me a t shirt for opening a new card! Now I will not look twice @ the offer without seeing a $500 bonus
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      05-04-2019, 11:23 PM   #102
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Originally Posted by OkieSnuffBox View Post
Dang bro! You're so cool and awesome and I look up to you and admire you!

Can you teach me the ways of not understanding how to make money on rewards with Credit Cards, or how borrowing at 0% while my investments are beating inflation and I stay liquid is a bad thing?

Your "flex" about making/having a lot of money really just shows your ignorance.
Thanks for the compliment! Regarding the talk about liquid? Are you asking what soda I bought with the calzone? I am not quite sure where you are from that you call it liquid, haha. Is this some new slang lingo?

Not sure where I said I have money. I said people admire that I know money. Hence- this man knows his money.
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      05-04-2019, 11:29 PM   #103
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and as you can see- the store doesnt even take credit cards - look at at the sign

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      05-05-2019, 12:24 AM   #104
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My wife and I spend thousands every month on our CC and it's paid off every month as well. Every year we manage to get three to four round trip flights from the points. That's free money.
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      05-05-2019, 12:29 AM   #105
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My wife had terrible credit when we first met... she went into bad debt and was suckered into credit consolidation while in college. This really messed her up. It was so bad that she couldnt even open a checking account at any bank. Needless to say, she had to go to credit counseling ...and we attended many seminars to help raise her credit.

These are the main things and tips that we’ve learned which raised both our credit FICOs to 800s:
1) Building a good credit history is the name of the game. Its like your report card in life!
2) keep no more than 2-3 credit cards. Stay away from opening up too many Store Cards. Having too many cards open and revolving credit are actually bad for your credit. That said, if you have unused cards... its actually best NOT to close them yourself. These will eventually close on their own... this gives you better credit history. Especially those where you have had Past Due. Just pay those off but let them play out and close on their own.
3) keep monthly balances under 30% of credit limits.
4) do not be late on monthly payments. Paying minimum doesnt harm your credit but it doesnt raise your credit either. Paying balance off every month builds credit history much faster.
5) big asset building purchases like houses and having mortgage payment helps build credit history faster. Just make sure you are not late on payments. Avoid going into Short Sales or Foreclosures.
6) one trick Ive learned was to bounce the balance from one credit card to another via balance tranfers ( some credit cards actually offer lower finance rates through balance transfer. This is often lower than purchases)
7) you can call most credit cards and ask to lower finance charge rates. Often, most cards have promotional rates that they can offer you for a limited time in order to keep your business.
8) its a good habit to check your own credit every year. This also to Make sure no one else is using your credit or have fraudulent account.
9) Having Too many credit inquiries... is bad...very bad! If you pull your own credit online, it actually does NOT count against you. When applying for thing that needs credit check, ask if they would consider your most recent credit check/ FICO score you personally pulled first before they pull a soft/hard inquiry.

Hope it helps... Good luck!
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Last edited by Alvinized52; 05-05-2019 at 12:43 AM..
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      05-05-2019, 04:11 AM   #106
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Originally Posted by Alvinized52 View Post
My wife had terrible credit when we first met... she went into bad debt and was suckered into credit consolidation while in college. This really messed her up. It was so bad that she couldnt even open a checking account at any bank. Needless to say, she had to go to credit counseling ...and we attended many seminars to help raise her credit.

These are the main things and tips that we've learned which raised both our credit FICOs to 800s:
1) Building a good credit history is the name of the game. Its like your report card in life!
2) keep no more than 2-3 credit cards. Stay away from opening up too many Store Cards. Having too many cards open and revolving credit are actually bad for your credit. That said, if you have unused cards... its actually best NOT to close them yourself. These will eventually close on their own... this gives you better credit history. Especially those where you have had Past Due. Just pay those off but let them play out and close on their own.
3) keep monthly balances under 30% of credit limits.
4) do not be late on monthly payments. Paying minimum doesnt harm your credit but it doesnt raise your credit either. Paying balance off every month builds credit history much faster.
5) big asset building purchases like houses and having mortgage payment helps build credit history faster. Just make sure you are not late on payments. Avoid going into Short Sales or Foreclosures.
6) one trick Ive learned was to bounce the balance from one credit card to another via balance tranfers ( some credit cards actually offer lower finance rates through balance transfer. This is often lower than purchases)
7) you can call most credit cards and ask to lower finance charge rates. Often, most cards have promotional rates that they can offer you for a limited time in order to keep your business.
8) its a good habit to check your own credit every year. This also to Make sure no one else is using your credit or have fraudulent account.
9) Having Too many credit inquiries... is bad...very bad! If you pull your own credit online, it actually does NOT count against you. When applying for thing that needs credit check, ask if they would consider your most recent credit check/ FICO score you personally pulled first before they pull a soft/hard inquiry.

Hope it helps... Good luck!
When I did a balance transfer there was typically a $10 fee so it made it not worth it unless it's a large amount and the interest rate is much better on the other card. Doesn't make sense if you're paying it off every month.
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      05-05-2019, 04:14 AM   #107
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and as you can see- the store doesnt even take credit cards - look at at the sign

Some small businesses especially older mom and pop stores are still cash only. If it's a lot cheaper I might go there but if it's farmers market prices I'm paying with cc. I brought my dryer used for dirt cheap so I didn't mind paying cash. They even installed it and hauled away the old one for free.
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      05-05-2019, 09:52 AM   #108
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I was thinking if using my heloc money to get 40 percent return in the stock market while I pay them 3-6 percent doing to them what they do to us. Paying very little interest in savings accounts while they make boatloads investing our money in the stock market.
I have a couple of friends who have or do this very thing. Good idea.
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      05-05-2019, 10:43 AM   #109
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Looool. Well if you can consistently get 40% gains on the market every year, enjoy your tens of millions of dollars in middle age.

Everyone else who thinks they can do this, but is wrong, is going to lose all their shit in the next economic slowdown
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      05-05-2019, 10:52 AM   #110
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I have no idea what my credit score is. Is there some reason I need to be concerned about it if I don't intend to take out a loan? I haven't had a loan since 1989 or any debt since then other than credit cards which are paid in full every month.
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