I've got good credit and my baby does too!

So a few months after finding out about an old collection I never knew about, I checked my credit and found that my score has since rebounded for the most part.

My Experian score is in the 740 range or 'Excellent'

My Equifax score is in the high 670's or 'Fair' mainly because for some reason the collection is still showing.

My TransUnion score is in 700 range again because for some reason the collection is still showing.

- I will have to contact Equifax and Transunion obviously though because they are getting some bad information and my Equifax score actually dropped from last time.


My fiance on the other hand appear to have things more than under control - she pulled only one score but that score is in the 720's - so not bad at all.


After, I talk to/contact Equifax and TransUnion I think I might just take the asterisk (*) away from 'Reggie, another kid with good* credit' - cause it just about is 'good' again now.

DANG it all ! cursed credit report surprises!

So I was messing around online and went to AnnualCreditReport.com to try and get a peak at my free annual credit report. So I entered a little information and got a basic credit report and saw instead of '1' negative entry - which, has been paid for some time - I found '2' negative entries!

After investigating it further it turns out an old, $1600+ medical bill was reported right after I pulled my credit the last time, back in January of this year.

What annoys me is that the medical bill holder has not made any effort to contact me about the bill and the last time I spoke to them(over a year ago) they explained that I had settled my account with them.

My credit scores are now 'average' but, not 'good'.

Experian = 688


Equifax = 688


TransUnion =712


collection accounts always seem to seriously effect credit scores. I'm so frustrated right now, here I was, ready to start shopping for a ring for my girlfriend. As a mater of fact, I just asked her adopted parents yesterday if it would be OK to marry her and they both said 'yes'.

What really worries me is if/when I get in contact with my medical bill holder if they'll end up saying they have other bills that they want me to pay but, have decided not to contact me for a year about.

Good thing I'm gonna start hitting the gym soon. I'll need the stress relief.

bad credit? pay more for insurance...

I read an excerpt of this article that was sent to my work e-mail through a news feed we get.

this section kind of bugged me:

But the long-awaited Federal Trade Commission report also found that blacks and Hispanics consistently end up with lower scores and therefore pay higher insurance rates.

But, I guess it's something I already sort of knew. From what I understand, for the past decade or so, insurance companies have been consistently pulling your credit before they give you an accurate quote. Quotes you might get online might give you an idea of what your rates will be but you won't know for sure until you call a company over the phone and get a definite rate quote or go into an Insurance Agent's office.

It usually shows up as a hard pull on your credit - just an FYI when shopping around for rates. The better your credit score though, the cheaper your insurance. If you have horrible credit though well you pay the price for failing to pay on time I guess.

The fear of the black male...

warning: little to no personal finance relevance

So as I was surfing the web this morning I noticed an article entitled:

Football wedding threatened

After clicking on the link which had this image adjacent to it:


I read the article -

then while I was listening to NPR I heard an article on how the impending home-run record challenge by Barry Bonds brings to mind the last home-run record challenge by Hank Aaron when the title owner was Babe Ruth.

Both stories happen to be more-or-less about sports but more importantly racism.

In one case, you have a black male who is star player for his team and after winning the Fiesta Bowl chose it as the perfect time to propose to his girlfriend - who just happens to be white. Now as his wedding date approaches, it appears he has been receiving so many death threats that he has hired outside security for his wedding.

In the other case, you have a Baseball legend threatening an older baseball legend's record and due to the fact that he is black receiving death threats as well.

Although the latter instance was over 20 years in the past the former instance is current and kind of shameful. If a black male achieves success it is a threat to the white male.

Part of the reason I started this blog was to try and combat the stereotype that is often spoken amongst the black community and probably spoken behind closed doors in the white (and other communities):

"Black people have bad credit, a bad attitude and rarely amount to anything"

It can be difficult though, when this ideal is subconsciously touted in the media, black comics re-iterate these ideas constantly, areas that are considered 'black' are usually lower-income & less maintained and when black people do become successful, they immediately move to the suburbs(which my parents did) so their children can get a better education, rather than trying to remain in the black community and lift everyone up.

There is also the culture within the black community of the 'crab mentality'. The idea being that if you put several crabs in a bucket you don't need a top; the crabs cannot easily escape from the bucket without the help of others, if one crab does happen to get close to escaping though, it's almost inevitable that crabs below him/her will grab a hold of them and pull them down. Thus no need to put a top on the bucket.

I've done my share of being a crab but I think those days are over, it can be disheartening though sometimes when you're reminded that racism does in fact exist.

T-minus 5 days, no I-phone for me

Now, I am waiting patiently for the arrival of 'Maxed-out', the documentary about America's debt problem.


From all of the clips...

...it appears I must own this movie, not so much because it will teach me something I already know 'credit cards are BAAAAAD!!'

But more or less to remind me never, ever to use them again if I have a moment of weakness and believe that 'oh, it's only $60 bucks' I can immediately pop the movie into the DVD player and convince myself otherwise. I think it would be good to show it to my girlfriend who doesn't know that much about the dangers or credit as she has lived a sheltered life thus far.

I ordered the movie through my local Barnes & Noble store - I love that store! only downfall is that I'll be paying $27 for it - $30 when the tax is added and If I weren't so paranoid about buying things over the Internet I'd save $10 by buying it on Amazon.com


In other news, I immediately lost my desire to purchase a new I-Phone when I learned the purchase price is $500. Reggie, will definitely not be standing in line to buy one anytime soon.

first post -

So i guess I should start this blog by introducing myself briefly:

I am a black male, 20-something who has 'good' credit at the present point in time, but it wasn't always that way.

A few years ago after a fun stay in Chicago, I realized I was easily paying out more than I was bringing in (which is very bad) - I also realized around the same time my mother, back in a smaller Midwest town, was pretty ill (double-whammy). So at her suggestion, I moved back home - much to my humiliation - with a good $18,000 of debt in tow. I stayed with moms & then dad for about 4 mos before finding a place of my own.

As of next week that debt will be down to $2,790. And with any luck by the end of July(2007) I will be among America's debt-free minority.

My net worth is now in the positive. My credit score at last glance is in the mid 700's.

Currently, I have a wonderful girlfriend who just moved into her first place of her own. Her family has instilled in her the value of saving and she knows all about my prior finance issues. Since this is her first time on her own I've been helping her a lot with her budget. She now has her own 'envelope' system. My girlfriend - let's call her 'Boopsie' - has been not-so-subtly hinting that 'Reggie should get her a ring.' My main condition in order to do that was that she live on her own for a bit since, being in her mid-20's, it might be a good time to exert some independence.

Since Boopsie has since taken that step, I have been looking for a ring while trying to pay off my remaining debt 'with a Gazelle-like intensity' as Dave Ramsey says.

I guess I decided to make this blog
1) out of inspiration from Him & Her's wonderful blog Make Love, Not Debt
2) because I think more minorities, especially blacks, need to focus on finances rather than the 'appearance of wealth'
3) I'd like to retire, be a millionaire, and live on a small island (most likely w/ Boopsie) in 10 years or less and I think storing my experiences (and having people comment on them) might help achieve those goals.

OK well it's way past bed time so I think I'll go now.