John Paulson Quotes

Yes, Americans can still get credit for cars and trucks and refrigerators, and those businesses are doing well. But just try to get a home loan now.

You don't need credit.

Generally, there are three rules when it comes to borrowing money: You need to have good credit, proof of income and cash for a down payment. Most people have the first two, but it's the third that trips them up. And nowhere does that come into play more than the mortgage market.

'Credit' is another word for trustworthiness.

Because the American credit reporting system relies on both good and bad reports of creditworthiness, a consumer must have some kind of credit - not just the absence of bad credit.

When you get to college, they're never teaching you how to start a credit line or get a loan on a car, things of that nature.

The average credit score of today's FHA borrowers is higher than the average American household with a score. As it becomes more costly and difficult to get a FHA loan, loans from private mortgage lenders will become more attractive and their market share will grow.

Late payments also hurt your FICO score. And never, ever take out a cash advance on your credit card.

Remember that credit is money.

It's easy to get a loan unless you need it.

I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score.

Credit is an 'I love debt' score.

I never did buy things on credit, I always paid for 'em, because I can't see much difference in paying for something and just waiting a week and pay interest on it; that looks foolish to me.

A person's credit report is one of the most important tools consumers can use to maintain their financial security and credit rating, but for so long many did not know how to obtain one, or what to do with the information it provided.

No one anticipates divorce when they're exchanging vows, and it can be devastating emotionally and financially. To ease the financial side of the blow, you need to maintain your financial identity in your relationship. That means having your own credit history - you need your own credit card - and your own savings and retirement accounts.

If you default on your Visa bill, nobody comes to repossess your refrigerator or auction off your shoes. The biggest penalty you'll face is trouble getting future credit.

Buying a home today is a complex process, but that in no way excuses home buyers from their obligation for due diligence.

Whether you're earning $7 an hour or $700,000 a year, it's very important to protect your credit rating.

Lenders look at potential borrowers from many angles before extending credit: How much of its income will a household need to put into debt repayment? How large is the down payment? Does the borrower have a job with a stable income? What is the borrower's credit score?

Your credit score takes into account years of information in most cases. It's not going to improve in a day. But it may improve more quickly than you think. Generally, the last 24 months carry the most weight, so if you can keep clean for that long, you'll see a boost.

Anything past 90 days constitutes 'severe,' but all late payments stay on your report for seven years if reported.

Students graduating with high debt encounter difficulties in qualifying for home and automobile loans.

Your credit score affects the interest rates you're offered on credit cards and loans, can be used to vet your job application, and in some states may influence your insurance premiums.

A bank is a place that will lend you money if you can prove you don't need it.

A man needs credit. Especially when he has no money.