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nwin posted:I’ve heard this but why exactly and how does it cost you? I’ve got an 800+ credit score and only $15k of a car loan against myself. I think he's referring to a hard credit check, which most certainly impacts your credit score. e: a soft credit check however is totally fine.
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May 14, 2022 20:20
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nwin posted:I’ve heard this but why exactly and how does it cost you? I’ve got an 800+ credit score and only $15k of a car loan against myself. if you're closing in two weeks it will not matter in the slightest what you do to your credit right now
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May 14, 2022 20:23
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nwin posted:I’ve heard this but why exactly and how does it cost you? I’ve got an 800+ credit score and only $15k of a car loan against myself. It hits your credit on multiple axes. It's a hard pull, it's a new credit line (average age of accounts), more revolving credit, presumably you're going to use it (higher credit utilization), and ultimately it frightens and confuses your loan officers, who are skittish and easily spooked. I opened a new $500 Home Depot card for the sweet discount before my first mortgage closed and it ended up costing me an additional .5%. I didn't have any other debt at the time.
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May 14, 2022 20:52
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Tricky Ed posted:It hits your credit on multiple axes. It's a hard pull, it's a new credit line (average age of accounts), more revolving credit, presumably you're going to use it (higher credit utilization), and ultimately it frightens and confuses your loan officers, who are skittish and easily spooked. I'm guessing whatever models they use for some reason place a heavy emphasis on people taking out a bunch of debt then abandoning things. I opened a couple of CCs for the SUB this spring and now I might have to get a mortgage and I'm deeply regretting it. It's actually really frustrating in a way because churning subs is really smart if you can do it effectively, and would indicate a high chance you're properly utilizing your credit, but I'm pretty sure when the powers that be use the term "based on your creditworthiness" what they actually mean is "based on your profitability".
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May 14, 2022 21:03
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Just wait until you close if it doesnt matter anyway. They aren't pulling your credit every day but who the hell knows what some jackass might do at the last minute.
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May 14, 2022 21:19
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I’ve closed on two mortgages and both times they explicitly advised me to not open new credit until signing.
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May 14, 2022 21:40
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Tatsuta Age posted:if you're closing in two weeks it will not matter in the slightest what you do to your credit right now Please do not listen to this person. Your mortgage company will absolutely gently caress you if you do this. They see you opening a new line of credit right before closing the mortgage as you not having enough capital to close on and furnish your house. Opening a new line of credit will at the very minimum introduce a bunch of chaos as you frantically explain to the bank why you did it. At worst, it will kill your rate lock, push back your closing, or very worst case you will not get final approval for the mortgage. Also be aware you’re likely going to take a 30-50 point hit on your credit the second you close. At 800+ I doubt it’ll impact your ability to open a Costco card, but still. Just wait till the day after or the day of closing.
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May 14, 2022 21:53
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Mortgage Lenders ask for like 7 copies of May 2021's Pay Stub 4 times through the process and you think they'll just be like "oh a new 10k line of credit cool cool"???
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May 14, 2022 22:02
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FilthyImp posted:Mortgage Lenders ask for like 7 copies of May 2021's Pay Stub 4 times through the process and you think they'll just be like "oh a new 10k line of credit cool cool"??? It's actually pretty dumb though, right, like what difference does it make if you open a new line of credit right before or right after. Like does that magically mean you'll max it out? That your DTI ratio will really change? It's an incredibly archaic way of judging "creditworthiness" and totally opaque, and almost certainly massively racist. There's no way they are using deep learning to actually figure out the odds of being repaid and determining your loan and rates on that basis. There's obviously a ton of other poo poo going on behind the curtain.
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May 14, 2022 22:05
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pseudanonymous posted:It's actually pretty dumb though, right, like what difference does it make if you open a new line of credit right before or right after. Like does that magically mean you'll max it out? That your DTI ratio will really change? It's an incredibly archaic way of judging "creditworthiness" and totally opaque, and almost certainly massively racist. No one ever said banks were logical about the process but they will absolutely gently caress you.
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May 14, 2022 22:09
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Lmao “that’s so dumb, that can’t be how it really works” I hear, for the 900th Time this year. Yes, it’s that dumb. That’s how it works. Don’t open any new credit.
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May 14, 2022 22:09
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Banks are still giving out balloon loans right now and they're back up to being a significant portion of the mortgage market and I can't stop laughing that we get to relive 2008 again.
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May 14, 2022 22:18
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We can just short the housing market like The Big Short right?
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May 14, 2022 22:21
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I paid off one credit card and opened a new one with my credit union and it tanked my score by 42 points, so the mechanisms of capitalist hell world are mysterious and terrible.
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May 14, 2022 23:37
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i went to costco today
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May 14, 2022 23:47
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My first mortgage got delayed right before closing because the mortgage company failed to report a 15 year old card of mine to their underwriter. Don’t be stupid and gently caress with your credit in the middle of closing, do eat the Costco dog
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May 15, 2022 01:44
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Chinatown posted:i went to costco today credit score +1
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May 15, 2022 01:59
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nwin posted:I’ve heard this but why exactly and how does it cost you? I’ve got an 800+ credit score and only $15k of a car loan against myself. Just wait 2 weeks + 1 day. You might get lucky and have nothing happen, but there is a chance it'll cause the mortgage company to bail on you, making you restart the entire house buying process.
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May 15, 2022 04:29
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You know what tho? Nobody is considering what not having a Costco Executive Membership is doing to his social credit score. Might be hurting pretty bad by not being part of the club.
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May 15, 2022 11:07
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poisonpill posted:You know what tho? Nobody is considering what not having a Costco Executive Membership is doing to his social credit score. Might be hurting pretty bad by not being part of the club. I have the exec. I was asking about the credit card.
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May 15, 2022 11:14
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 I spotted liquor and wine at a Colorado costco yesterday!!! they had previously only been able to sell beer. my spirit is full. of spirits.
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May 15, 2022 15:44
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ixo posted:
Hell yes which one?
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May 15, 2022 15:46
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thornton off of 160th by top golf. not my usual congregation but we were on a hunt trying to find those massive bags of cheap potting soil (they're all gone  )
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May 15, 2022 15:59
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Supreme Allah posted:Just wait until you close if it doesnt matter anyway. They aren't pulling your credit every day but who the hell knows what some jackass might do at the last minute. Basicslly exactly what our loan guy told us when we clised earlier this year. Will it probably be totally fine? Ya probably, but stupid poo poo happens all the time, dont gently caress with anything for a couple more weeks
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May 15, 2022 16:39
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My wife ordered $4,000 of costco luxury vinyl plank I hope it doesn't suck
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May 15, 2022 17:27
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Isn't one of the benefits of vinyl plank that its relatively inexpensive? What makes it "luxury"?
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May 15, 2022 17:31
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bird with big dick posted:My wife ordered $4,000 of costco luxury vinyl plank I hope it doesn't suck Shouldn't Have a pro install it then have your house wide open as much as you can for a few weeks, let it off gas Very easy to keep clean and look nice, don't ever get it wet wet, damp with water dust mop and vacuuming dust bunnies is all you need.
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May 15, 2022 17:36
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DeadFatDuckFat posted:Isn't one of the benefits of vinyl plank that its relatively inexpensive? What makes it "luxury"? ...it's from costco. 
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May 15, 2022 23:17
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DeadFatDuckFat posted:Isn't one of the benefits of vinyl plank that its relatively inexpensive? What makes it "luxury"? Thicker vinyl, fancier patterns, sometimes a pre-attached underlayment, and also sometimes the protection layer comes with some texture so it doesn't just feel like a slab of vinyl.
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May 16, 2022 00:37
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ixo posted:
is this like a mormon costco wtf
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May 16, 2022 03:21
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Alan Smithee posted:is this like a mormon costco wtf Some states have dumb liquor laws where only the hard stuff can be bought in certain (usually state run) stores
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May 16, 2022 03:44
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Mustached Demon posted:Some states have dumb liquor laws where only the hard stuff can be bought in certain (usually state run) stores Colorado has big liquor store power, not state run though. I know of three now that sell liquor which is great. Long ago each liquor store had to be owned independently. A big store got slapped for running two family run stores as if the were one business a few years ago. Fort Collins, Lone Tree, Lakewood and Thornton all have liquor.
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May 16, 2022 04:14
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Mustached Demon posted:Some states have dumb liquor laws where only the hard stuff can be bought in certain (usually state run) stores Or you can be Texas and have even dumber laws like any store selling liquor must be closed by 9pm, cannot open before 11am any day of the week, and cannot do any business on Sundays. Business is defined as any "work" being done in the building, so if you have employees in at any hour on a Sunday to do inventory, cleaning, or restocking you can't sell liquor.
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May 16, 2022 14:02
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jisforjosh posted:Or you can be Texas and have even dumber laws like any store selling liquor must be closed by 9pm, cannot open before 11am any day of the week, and cannot do any business on Sundays. Business is defined as any "work" being done in the building, so if you have employees in at any hour on a Sunday to do inventory, cleaning, or restocking you can't sell liquor. lmao jeez NY used to have a law that you couldn't sell alcohol before 11AM on a Sunday but it got thrown out sometime in the 90s. But that didn't stop old people from having Very Strong Opinions and giving me an earful over how I allowed the person in front of them buy booze, back when I worked retail. One of those old people was my dad and, that was fun. e: got into an argument with a gas station employee over this once. It was like 1AM on a Sunday and we ran out of beer at a house party and he wouldn't let us buy more over a law that hadn't existed for 20 years.
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May 16, 2022 14:19
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Meanwhile in San Diego there's a liquor store you actually drive through. Like, through the middle of it   https://www.yelp.com/biz_photos/alta-dena-drive-in-dairy-san-diego
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May 16, 2022 14:43
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FCKGW posted:Meanwhile in San Diego there's a liquor store you actually drive through. Oh we have those all over Texas, but same rules, aren't open on Sundays.
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May 16, 2022 14:53
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jisforjosh posted:Oh we have those all over Texas, but same rules, aren't open on Sundays. have you tried freedom
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May 16, 2022 15:02
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jisforjosh posted:Or you can be Texas and have even dumber laws like any store selling liquor must be closed by 9pm, cannot open before 11am any day of the week, and cannot do any business on Sundays. Business is defined as any "work" being done in the building, so if you have employees in at any hour on a Sunday to do inventory, cleaning, or restocking you can't sell liquor. IIRC, Costcos in Texas get around this by having the liquor be in a separate part of the building you enter from a different door. It might not even require a membership? Washington used to only allow liquor to be sold in special government owned liquor stores, but there was a ballot measure about ten years ago, funded in large part by Costco, to get rid of those rules.
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May 16, 2022 15:45
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FCKGW posted:Meanwhile in San Diego there's a liquor store you actually drive through. i used to go here!
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May 16, 2022 16:57
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gonna buy a liter and a half of franks red hot sauce
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May 16, 2022 20:30
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