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Registered
Join Date: Jan 2005
Location: Houston (The Vintage), Texas
Posts: 4,523
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Please tell me I am not an idiot.
There are some classes that I would like to take that work is willing to pay for me to take. I have to pay for the class up front, but they will reimburse me on the condition that I do well.
In the interest of trying to improve my credit score could I take a loan out for the class(es) and then when work pays me back pay off the loan? Even though I have the cash on hand to pay for the class in full? Idiot? Genius? 
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-Tom '73 911T MFI - in process of being restored '73 911T MFI - bare bones '87 924S - Keep's the Porsche DNA in my system while the 911 is down. aka "Wolf boy" |
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08-02-2011, 11:41 AM
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Registered
Join Date: Dec 2006
Location: Somewhere.
Posts: 1,632
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Is it a class on economics?
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88 carrera Using the teutonic shift method since 1990. |
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08-02-2011, 11:46 AM
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Make Bruins Great Again
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Depending on your total history, a small amount of money on a short term loan may not affect your score all that much. The less credit history you have, the more it will help but, if you have too many loans then you will bump up the percentage of debt to income (or debt to total available credit) and that can hurt your score.
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-------------------------------------- Joe See Porsche run. Run, Porsche, Run: `87 911 Carrera |
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08-02-2011, 11:55 AM
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Registered
Join Date: Jan 2005
Location: Houston (The Vintage), Texas
Posts: 4,523
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So starting to sound idiotic.
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-Tom '73 911T MFI - in process of being restored '73 911T MFI - bare bones '87 924S - Keep's the Porsche DNA in my system while the 911 is down. aka "Wolf boy" |
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08-02-2011, 11:58 AM
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Get off my lawn!
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Please tell me I am not an idiot.
If you are confident you can pass the courses and make your company happy enough to pay for them it is a win for you. Do the loan and pay it off quickly but not too fast.
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Glen 49 Year member of the Porsche Club of America 1985 911 Carrera; 2017 Macan 1986 El Camino with Fuel Injected 350 Crate Engine My Motto: I will never be too old to have a happy childhood! |
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08-02-2011, 12:12 PM
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N-Gruppe doesn't exist
Join Date: Jun 2005
Location: *%@#ing GPS, where am I? Oh wait I see the Space Needle.
Posts: 4,394
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well if you are and idiot you will not do well and work will not pay you back...
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Ted '70 911T 3.0L "SKIPPY" R-Gruppe #477 '73 914 2.0L SOLD bye bye "lil SMOKEY"  "Silence is Golden, but duct tape is SILVER.” other flat fours:'77 VWBus 2.0L & 2002 ImprezaTS 2.5L |
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08-02-2011, 12:39 PM
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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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Credit is good for those intersted in taking out loans. You sure you want that? Given the present state of the country, hasn't the illusion of ownership smack your azz hard enough yet?
Thye American dream is not home ownership but rather freedom. Break the bonds of financial tyranny while you still can. Save your self while you are still young. Many of us are too old and tooweak to do so but you could start a fresh new world! Go now lad, go and begin anew!
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 |
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08-02-2011, 01:26 PM
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canna change law physics
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Are you Brad Pitt or Edward Norton?
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James The pessimist complains about the wind; the optimist expects it to change; the engineer adjusts the sails.- William Arthur Ward (1921-1994) Red-beard for President, 2020 |
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08-02-2011, 01:28 PM
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Registered
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If you are an idiot you won't take advice and if you aren't one you don't need advice.
Did that help?
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08-02-2011, 02:14 PM
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Non Compos Mentis
Join Date: May 2001
Location: Off the grid- Almost
Posts: 10,592
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Debt-free is the way to go.
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08-02-2011, 02:30 PM
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Max
Carrera
1970/1982 Porsche 914-6/911SC 2.7 RS
