And this went up. Please explain to a dumb aerospace engineer.
Oddly enough, I bought a very expensive car last month....
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Last: 8 mo ago by Drawkcab
Welcome to the stupidity of Credit Scores. We paid our primary mortgage off in 2017 and my Credit Score went down 20 points.
I get it. I paid off my last house and my score went down. Cross post on a more credit centric forum like Real Estate. Plenty of expertise out there.
I assume you got this through a consumer credit site. Put zero credence in it. I've been in the credit business 45 years and what we see on your credit report and score may look completely different.
Absolutely stupid system...
You have to have credit loans to increase your credit score. I had 0 debt. Zip, zero, nada. I've recently bought another bike and a new toy hauler. I got a loan for both. My credit score has gone up.
The only reason I financed the trailer was to get a $2,500 discount. I will pay it off in full the first payment. I haven't paid the bike off yet because the payments are low and it has helped my credit score.
Banking is a dirty business designed to keep you in debt.
You have to have credit loans to increase your credit score. I had 0 debt. Zip, zero, nada. I've recently bought another bike and a new toy hauler. I got a loan for both. My credit score has gone up.
The only reason I financed the trailer was to get a $2,500 discount. I will pay it off in full the first payment. I haven't paid the bike off yet because the payments are low and it has helped my credit score.
Banking is a dirty business designed to keep you in debt.
Is there any consumer site that's accurate...or at least more accurate than others?
Hoosegow said:
Absolutely stupid system...
You have to have credit loans to increase your credit score. I had 0 debt. Zip, zero, nada. I've recently bought another bike and a new toy hauler. I got a loan for both. My credit score has gone up.
The only reason I financed the trailer was to get a $2,500 discount. I will pay it off in full the first payment. I haven't paid the bike off yet because the payments are low and it has helped my credit score.
Banking is a dirty business designed to keep you in debt.
I'll never forget being in my 20s. My grandmother died and left me some money. I used some of it to pay off about $4,000 of debt on a credit card. A rep from the company called me the next day to say they had seen the payment and wants to know what was wrong. Like I had Done something bad by paying off my card. Just the worst.
This. We just bought my wife a car on Monday. All the consumer credit sites have had my score right at 800. The hard inquiry showed my score at 847.jja79 said:
I assume you got this through a consumer credit site. Put zero credence in it. I've been in the credit business 45 years and what we see on your credit report and score may look completely different.
consumer: Give me this loan, I will faithfully make the payments.
bank: Prove it.
consumer: Look at all of these open accounts I have that I faithfully make payments on.
bank: Great! Here's the money.
Once you pay off a loan, it goes to your past credit worthiness, but not your present. Of course there's a point where you have too many open accounts, or your open accounts have too high % balance on them that hurts your credit score.
bank: Prove it.
consumer: Look at all of these open accounts I have that I faithfully make payments on.
bank: Great! Here's the money.
Once you pay off a loan, it goes to your past credit worthiness, but not your present. Of course there's a point where you have too many open accounts, or your open accounts have too high % balance on them that hurts your credit score.
OP has apparently never listened to Dave Ramsey. He explains the stupidity of credit scores at least once a week.
A whole industry has been created around making people think their credit score really needs to be constantly concentrated on.
As long as you aren't a deadbeat, your credit score actually matters maybe 2-3 times in your entire lifetime.
The amount it matters in those situations can mostly be offset by shopping around and/or simply spending the time you would concentrating on your score actually generating extra income.
As long as you aren't a deadbeat, your credit score actually matters maybe 2-3 times in your entire lifetime.
The amount it matters in those situations can mostly be offset by shopping around and/or simply spending the time you would concentrating on your score actually generating extra income.
He also just apparently financed a very expensive car.NoahAg said:
OP has apparently never listened to Dave Ramsey. He explains the stupidity of credit scores at least once a week.
Indeed - a 2024 Audi for my wife. But I did put $40,000 down on it.Ragnar Danneskjoldd said:He also just apparently financed a very expensive car.NoahAg said:
OP has apparently never listened to Dave Ramsey. He explains the stupidity of credit scores at least once a week.
That being said - yes, my bank has free credit monitoring and sends me a credit score every month. Normally was always around 800 - surprised to see it jump so much in one month.
You do you, just noting its at odds with dave ramsey. He's good for the vast majority of americans, but his advice ignores interest rates and time- things most people dont understand, which is why is advice is good to keep people out of trouble. If you can cut a check for $40k i am in no position to offer financial criticism.fc2112 said:Indeed - a 2024 Audi for my wife. But I did put $40,000 down on it.Ragnar Danneskjoldd said:He also just apparently financed a very expensive car.NoahAg said:
OP has apparently never listened to Dave Ramsey. He explains the stupidity of credit scores at least once a week.
That being said - yes, my bank has free credit monitoring and sends me a credit score every month. Normally was always around 800 - surprised to see it jump so much in one month.
Who's who in borrowing.
Solid if not so subtle humblebrag post.
Ragnar Danneskjoldd said:He also just apparently financed a very expensive car.NoahAg said:
OP has apparently never listened to Dave Ramsey. He explains the stupidity of credit scores at least once a week.
Lol, that's literally all this post is.Brian Earl Spilner said:
Solid if not so subtle humblebrag post.
MAS444 said:
Is there any consumer site that's accurate...or at least more accurate than others?
Can't you get a report directly from the 3 main players like once a year for free?
Im worried my american express black card doesnt have the best bennies, does anyone have something better?
nailed it!Hoosegow said:
Absolutely stupid system...
You have to have credit loans to increase your credit score. I had 0 debt. Zip, zero, nada. I've recently bought another bike and a new toy hauler. I got a loan for both. My credit score has gone up.
The only reason I financed the trailer was to get a $2,500 discount. I will pay it off in full the first payment. I haven't paid the bike off yet because the payments are low and it has helped my credit score.
Banking is a dirty business designed to keep you in debt.
Can I post the size of my junk?
I'm about to pay a car off and am convinced my score will go down.
ac04 said:
what a shock, more dick size insecurity on a GB thread about cars. pretend my post was about a ragged out corolla if it makes you feel better.
This guy ****s.
I got off from my aerospace engineer job and took my $40,000 down payment and fantastically high credit score to the Luxury Automobile Dealership to get my bombshell wife a new vehicle. "I'm sorry, sir," the super-model receptionist said as I walked through the doors in my Armani suit, "but you're simply too handsome to come in here, our other customers can't compete with your good looks and surely enormous *****. Can you wait outside? Don't worry, myself and many other females will be there shortly with champagne and a Barco lounger to giggle as you tell us ribald tales of your travels throughout the land."AgEng06 said:Lol, that's literally all this post is.Brian Earl Spilner said:
Solid if not so subtle humblebrag post.
Hoosegow said:
Absolutely stupid system...
You have to have credit loans to increase your credit score. I had 0 debt. Zip, zero, nada. I've recently bought another bike and a new toy hauler. I got a loan for both. My credit score has gone up.
The only reason I financed the trailer was to get a $2,500 discount. I will pay it off in full the first payment. I haven't paid the bike off yet because the payments are low and it has helped my credit score.
Banking is a dirty business designed to keep you in debt.
Just because you have a lot of assets and can pay cash for things doesn't mean you'll use them to pay off a loan. For all they know, you're that rich neighbor who could totally buy that tool he's borrowing from you and will inevitably never return. That's why banks and any other entity dealing in extending credit wants to know that you are and have been dutifully paying people back.
Best thing I've read in years, thank you.The Porkchop Express said:I got off from my aerospace engineer job and took my $40,000 down payment and fantastically high credit score to the Luxury Automobile Dealership to get my bombshell wife a new vehicle. "I'm sorry, sir," the super-model receptionist said as I walked through the doors in my Armani suit, "but you're simply too handsome to come in here, our other customers can't compete with your good looks and surely enormous *****. Can you wait outside? Don't worry, myself and many other females will be there shortly with champagne and a Barco lounger to giggle as you tell us ribald tales of your travels throughout the land."AgEng06 said:Lol, that's literally all this post is.Brian Earl Spilner said:
Solid if not so subtle humblebrag post.
But full disclosure - I'm ugly as sin, don't own an Armani suit and I'm hung like a flea.
Otherwise, pretty dead on.
Hoosegow said:
Absolutely stupid system...
You have to have credit loans to increase your credit score. I had 0 debt. Zip, zero, nada. I've recently bought another bike and a new toy hauler. I got a loan for both. My credit score has gone up.
The only reason I financed the trailer was to get a $2,500 discount. I will pay it off in full the first payment. I haven't paid the bike off yet because the payments are low and it has helped my credit score.
Banking is a dirty business designed to keep you in debt.
Well.. we shouldn't conflate banking with credit agencies. Banks typically don't want you to be highly leveraged. Unless they're bad at their job.
Now you're a dumb and broke aerospace engineer
Aggies1322 said:Hoosegow said:
Absolutely stupid system...
You have to have credit loans to increase your credit score. I had 0 debt. Zip, zero, nada. I've recently bought another bike and a new toy hauler. I got a loan for both. My credit score has gone up.
The only reason I financed the trailer was to get a $2,500 discount. I will pay it off in full the first payment. I haven't paid the bike off yet because the payments are low and it has helped my credit score.
Banking is a dirty business designed to keep you in debt.
Well.. we shouldn't conflate banking with credit agencies. Banks typically don't want you to be highly leveraged. Unless they're bad at their job.
People who can loan out money they don't have, who put other people's money on both sides of the ledger are worried about being over leveraged?
Ragnar Danneskjoldd said:Aggies1322 said:Hoosegow said:
Absolutely stupid system...
You have to have credit loans to increase your credit score. I had 0 debt. Zip, zero, nada. I've recently bought another bike and a new toy hauler. I got a loan for both. My credit score has gone up.
The only reason I financed the trailer was to get a $2,500 discount. I will pay it off in full the first payment. I haven't paid the bike off yet because the payments are low and it has helped my credit score.
Banking is a dirty business designed to keep you in debt.
Well.. we shouldn't conflate banking with credit agencies. Banks typically don't want you to be highly leveraged. Unless they're bad at their job.
People who can loan out money they don't have, who put other people's money on both sides of the ledger are worried about being over leveraged?
What are you complaining about? Is this some tirade against fractional reserve banking?
I bought my 2010 Tacoma in 2019 for not quite $16k and paid cash. Then bought a 2017 Prius two years later for $14k and paid cash. I still have both vehicles and my credit score did not go up although I have no debt besides my mortgage.
Did you terminate the Escalade lease early?
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