stannypack
Well-Known Member
- Thread starter
- #76
I get how utilization works but I also hate it, I have 0 debt and make over 6 figures, okay so I went a little overboard with mods and got to maybe half of my max utilization, boom fuck your credit scoreSo I obviously don't know your exact financial situation, but I had over 20 years of never missing a mortgage payment, never missing a credit card payment, paying off all my bills on time, no other debt, etc etc, and wasn't getting a perfect credit score (or even close to) in spite of making a decent amount of money.
To this point, I'd always used my credit card(s) for everything, thinking having an active credit history, but paying them off each month, would show I was a trustworthy borrower.
I decided to do an experiment and started using my debit card for everything, and on the rare occasion, I needed to use a credit card, I would pay off the balance the day it his my account, and not wait for the due date. Well, within 2 months, my credit score shot up to perfect.
For some retarded reason, when I sold my house last year, my credit score took a 60 point hit (I guess owing less money and suddenly having $500,000 more in my bank made me a less trustworthy borrower).
Out of curiosity, I added a low interest rate car loan back in to see what that would do to my credit, and it ended up going back up a bit, but no where near what it was before.
The biggest difference is, I've been renting the last year, and my credit score takes random dips out of the exceptional to the very good range for no reason.
As far as I'm concerned the credit score system is a complete scam, designed to make living cost more for people who need a break the most.
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