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Posted: 1/2/2022 6:12:14 AM EDT
[#1]
Quote HistoryQuoted: I'm not sure why you're upset. You have a good credit score, and will have no problems getting a loan again at competitive rates if you need one - which is why the score exists in the first place. By Arfcom standards he's practically a deadbeat poor. Reading these threads, it seems like just about everyone on here has WELL over 800 credit scores. 
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Posted: 1/2/2022 6:16:07 AM EDT
[#2]
Quote HistoryQuoted: Thats 561 points better than Cranberry tho. You should be proud. Quote HistoryQuoted: Quoted: My score is like 569, so as you can see, I'm the envy of all the 568 manlets. Thats 561 points better than Cranberry tho. You should be proud. Better than midcap too. 
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Posted: 1/2/2022 6:17:33 AM EDT
[#3]
I was shopping for a commercial mortgage loan recently and got a rejection letter from a bank that I turned down. That pissed me off. I know it’s protocol but, still.
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Posted: 1/2/2022 6:37:59 AM EDT
[#4]
Mine is 832.
I’m 36 and paying my house off next Friday. I will have $0 in personal debt after that. I don’t care about credit scores anymore. I always pay extra and early. After this I’ll just pay cash for everything from here on out. |
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Posted: 1/2/2022 7:04:48 AM EDT
[#5]
Quote HistoryQuoted: Your score isn't used by financing companies like you think it is. It's actually a measure of how much $$$ they can drain from you. Your history shows them that you don't like to keep much debt, so this means they can't extract as much $$$ from you This |
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Posted: 1/2/2022 7:26:15 AM EDT
[#6]
Quote HistoryQuoted: In was in the low to mid 700's Everything paid off. This last year opened another credit card. Financed a washer and dryer. Over 800. I know it will drop when i pay everything off again Its really a debt score ETA: I just checked my FICO8 on Experian, I am at 1% credit utilization which dropped from 3% the previous month. Experian claims that helped my score. My revolving debt(no interest paid on this) went from $1092/month to $201/month. That is the total of my indebtedness. Experian claimed this helped. My FICO8 score is 822. It is no way shape or form a debt score. |
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Posted: 1/2/2022 8:15:49 AM EDT
[#7]
Quote HistoryQuoted: To get a really high score you need to borrow lots of money and pay it down. When your mortgage is almost paid off, get an equity loan. When your car is paid for, get a loan for another. HVAC goes out, they finance at very good rates. High credit scores are reserved for those that have proven they can handle credit, not those that don't use it or need it. |
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Posted: 1/2/2022 8:27:30 AM EDT
[#8]
I think they all drop near Christmas so creditors can offer Christmas present loans at slightly higher rates.
I use my cash back card like a check book but if I miss the payoff before they report my score takes a 1 to 4 point hit. A few years ago I had a 815. BOA decided to cancel my only credit card without my consent and without notifying me. My score dropped to 640 or so. It took like 3 years to get it back to an 794. People who say you don’t need a credit score must not buy car or homeowners insurance. |
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Posted: 1/2/2022 8:33:31 AM EDT
[#9]
Quote HistoryQuoted: This Not this. It's completely wrong. |
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Posted: 1/2/2022 8:56:07 AM EDT
[#10]
Quote HistoryQuoted: To get a really high score you need to borrow lots of money and pay it down. When your mortgage is almost paid off, get an equity loan. When your car is paid for, get a loan for another. HVAC goes out, they finance at very good rates. High credit scores are reserved for those that have proven they can handle credit, not those that don’t use it or need it. FIFY High scores are for those who have proven they’ll overspend and make payments for months, not those who live within their means. |
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Posted: 1/2/2022 9:03:28 AM EDT
[#11]
Quote HistoryQuoted: Then why is mine always around 815-830? I am 100% debt free, utilize about 3-4% of my credit, pay off every month, paid off mortgage, no auto loans since 2003, no loans. I’m willing to bet one or more of your credit cards reports your utilization before your payment due date. While you aren’t carrying a balance…the credit score algorithm thinks you are and you have a higher score. |
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Posted: 1/2/2022 9:08:59 AM EDT
[#12]
I fluctuate around 800. I was 802 until November when my credit card utilization went up due to several expenses. Dropped to 790 or so. Slowly climbing back up again even though I paid the bills in full.
CC utilization seems to be a big factor. They want you to use credit and establish a history. Just do not use too much of it. |
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Posted: 1/2/2022 9:58:17 AM EDT
[#13]
It'll probably go toward 800, OP.
When Mrs. M4ger and I became completely debt free in 2019, I watched my score drop to 744 a few months after. It is back up over 800 again. When we build our next home, I'll be utilizing rewards cards for various orders. Don't fret over a lower score, but watch it to make sure nothing fraudulent is occurring. |
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Posted: 1/2/2022 10:08:05 AM EDT
[#14]
Retired, no debt, 2 vehicles and house paid off.
I have never looked at my credit score, nor do I care. |
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Posted: 1/2/2022 10:18:11 AM EDT
[#15]
Quote HistoryQuoted: I’m 35 zero debt. Everything has been paid in full for the last year and a half. Was a truck. I usually pay credit cards weekly as to not post a bill. I’m credit has slowly dropped from 845ish Fico now down to 820s. It’s really sad to watch being a responsible adult and being down graded. Guess we All need more debt to truly enjoy the lefts grand plan. I think you need a hobby and a girlfriend. |
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Posted: 1/2/2022 10:58:32 AM EDT
[#16]
Save enough money and you don't need a credit score.
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Posted: 1/2/2022 10:58:48 AM EDT
[#17]
lol
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Posted: 1/2/2022 11:04:50 AM EDT
[#18]
The Credit Solutions Program
The secrets of credit and finance that everyone should know and understand if you plan on getting ahead in this world. |
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Posted: 1/2/2022 11:09:14 AM EDT
[#19]
These type of threads are often some of the most amusing.
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Posted: 1/2/2022 11:18:33 AM EDT
[#20]
Mine is 838. We don't have a mortgage or car loan and we don't carry debt on any CC. I figured at some point it would go down because of that, but it hovers above 800 all the time.
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Posted: 1/2/2022 11:22:23 AM EDT
[#21]
Quote HistoryQuoted: Your score isn't used by financing companies like you think it is. It's actually a measure of how much $$$ they can drain from you. Your history shows them that you don't like to keep much debt, so this means they can't extract as much $$$ from you This. It is your financial slave score. The higher the number the better slave you are to the system. |
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Posted: 1/2/2022 11:25:27 AM EDT
[#22]
GD never disappoints with how many times a wrong thought is posted with authority.
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Posted: 1/2/2022 11:26:20 AM EDT
[#23]
Quote HistoryQuoted: By Arfcom standards he's practically a deadbeat poor. Reading these threads, it seems like just about everyone on here has WELL over 800 credit scores.  Here's mine. I have no clue about the account balances or loan balances stuff. Two current loans (one mortgage, the other a loan against myself) which both combined are in the mid two figures total. My savings is three times that. It dips and climbs without any major financial transactions going on. So...? 
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Posted: 1/2/2022 11:28:20 AM EDT
[#24]
Quote HistoryQuoted: The OP and a bunch of others care because it determines what rates you can get for borrowing for a car or house. Did you not know this? My credit score was 630 and I bought a home at 2.6% APR last year It was in the high 500s as well as my wife's, and we got the 0.9% financing on a 2020 Subaru outback. Tell me again credit scores matter? |
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Posted: 1/2/2022 11:29:48 AM EDT
[#25]
Quote HistoryQuote HistoryQuoted: Quoted: Quoted: Quoted: Quoted: mines like 525, don't sweat it Op No way. How? https://www.ar15.com/media/mediaFiles/277411/Untitled_png-2225436.JPG Where’s the “What’s hurting you score” screenshot? here ya go! https://www.ar15.com/media/mediaFiles/277411/A_impact_score_PNG-2225444.JPG You’s trollin. |
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Posted: 1/2/2022 11:36:03 AM EDT
[#26]
Most people in this thread that track their score, brag, and try to figure out how to raise it are giddy at the idea of a social media score like what was talked about in China.
Only poor people brag about credit scores. Those households making $150k+ a year move on with their lives and never bat an eye when financing My FIL was blue collar all his life, worked for US Steel as a yard worker....always brags about his credit score. I told him our house was purchased for 400k and my score was in the 600s. He didn't believe me until I brought out my mortgage paperwork |
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Posted: 1/2/2022 11:37:27 AM EDT
[#27]
I purchased two MAWL C+ Lasers, and paid those off same month on card, score went up 14pts to 822.
OP, have you thought about purchasing NV gear? It worked for me!!
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Posted: 1/2/2022 12:27:50 PM EDT
[#28]
Quote HistoryQuoted: Most people in this thread that track their score, brag, and try to figure out how to raise it are giddy at the idea of a social media score like what was talked about in China. Only poor people brag about credit scores. Those households making $150k+ a year move on with their lives and never bat an eye when financing My FIL was blue collar all his life, worked for US Steel as a yard worker....always brags about his credit score. I told him our house was purchased for 400k and my score was in the 600s. He didn't believe me until I brought out my mortgage paperwork 
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Posted: 1/2/2022 12:30:04 PM EDT
[#29]
Quote HistoryQuoted:  didn't take long.its a measure of how likely you are to pay to them back. meaning what risk you are that you don't pay at all. nothing more or less Which credit service do you work for? OP- your score is not a problem. Don't worry about it. |
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Posted: 1/2/2022 12:39:20 PM EDT
[#30]
Quote HistoryQuoted: Your fixation on your FICO score seems a bit strange. Quote HistoryQuoted: Quoted: I was able to track my score - updates at the end of the month. I knew what took it up, what took it down. Took me two years in an effort to try to make 850. I would be there by now if my last car didn’t take a shit on me. https://www.ar15.com/media/mediaFiles/474231/3B15819B-ACC4-432B-BCE1-2CDA19B97F22-2225152.jpg Your fixation on your FICO score seems a bit strange. Do you even OCD, bruh? Funny story, my buddy and I always used to bust balls over who had the highest score. When I finally hit 849, I shot him the screen shot. The bastard returned by sending me his 850.
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Posted: 1/2/2022 1:31:19 PM EDT
[#31]
Quote HistoryQuoted: I purchased two MAWL C+ Lasers, and paid those off same month on card, score went up 14pts to 822. OP, have you thought about purchasing NV gear? It worked for me!! I am going to run this past my wife, be right back... I'm back, no go. |
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Posted: 1/2/2022 1:53:43 PM EDT
[#32]
Quote HistoryQuoted: Do you even OCD, bruh? Funny story, my buddy and I always used to bust balls over who had the highest score. When I finally hit 849, I shot him the screen shot. The bastard returned by sending me his 850. Quote HistoryQuoted: Quoted: Quoted: I was able to track my score - updates at the end of the month. I knew what took it up, what took it down. Took me two years in an effort to try to make 850. I would be there by now if my last car didn’t take a shit on me. https://www.ar15.com/media/mediaFiles/474231/3B15819B-ACC4-432B-BCE1-2CDA19B97F22-2225152.jpg Your fixation on your FICO score seems a bit strange. Do you even OCD, bruh? Funny story, my buddy and I always used to bust balls over who had the highest score. When I finally hit 849, I shot him the screen shot. The bastard returned by sending me his 850. What struck me is that I had impression from your post that you adjusted your spending habits to facilitate a higher FICO score. That seems a bit strange as as far as I know a FICO above 800 (maybe 790…?) has zero effect on financials such as insurance rates, loans, etc….. I guess if you're just driving it up for fun it really doesn't matter but I just can't see myself adjusting what I do for a higher FICO. |
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Posted: 1/2/2022 2:04:08 PM EDT
[#33]
I am in a similar boat. I let 1 card sit with about 1k on it. It is low interest so no big deal.
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Posted: 1/2/2022 2:08:54 PM EDT
[#34]
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Posted: 1/2/2022 2:33:14 PM EDT
[#35]
Quote HistoryQuoted: What struck me is that I had impression from your post that you adjusted your spending habits to facilitate a higher FICO score. That seems a bit strange as as far as I know a FICO above 800 (maybe 790…?) has zero effect on financials such as insurance rates, loans, etc….. I guess if you're just driving it up for fun it really doesn't matter but I just can't see myself adjusting what I do for a higher FICO. Quote HistoryQuoted: Quoted: Quoted: Quoted: I was able to track my score - updates at the end of the month. I knew what took it up, what took it down. Took me two years in an effort to try to make 850. I would be there by now if my last car didn’t take a shit on me. https://www.ar15.com/media/mediaFiles/474231/3B15819B-ACC4-432B-BCE1-2CDA19B97F22-2225152.jpg Your fixation on your FICO score seems a bit strange. Do you even OCD, bruh? Funny story, my buddy and I always used to bust balls over who had the highest score. When I finally hit 849, I shot him the screen shot. The bastard returned by sending me his 850. What struck me is that I had impression from your post that you adjusted your spending habits to facilitate a higher FICO score. That seems a bit strange as as far as I know a FICO above 800 (maybe 790…?) has zero effect on financials such as insurance rates, loans, etc….. I guess if you're just driving it up for fun it really doesn't matter but I just can't see myself adjusting what I do for a higher FICO. Nah, It was all in fun to see if I could reach 850 while seeing what impacted it and what didn’t. It was an educational experience, nonetheless, but nothing really that isn’t already known. |
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Posted: 1/2/2022 2:36:51 PM EDT
[#36]
Quote HistoryQuoted: Most people in this thread that track their score, brag, and try to figure out how to raise it are giddy at the idea of a social media score like what was talked about in China. Only poor people brag about credit scores. Those households making $150k+ a year move on with their lives and never bat an eye when financing My FIL was blue collar all his life, worked for US Steel as a yard worker....always brags about his credit score. I told him our house was purchased for 400k and my score was in the 600s. He didn't believe me until I brought out my mortgage paperwork |
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Posted: 1/2/2022 2:44:43 PM EDT
[#37]
I don’t have a credit score. I owe nothing to anyone.
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Posted: 1/2/2022 3:28:32 PM EDT
[#38]
Quote HistoryQuoted: Does increasing the available credit limit on a card(s) help or hurt a score? Helps, lowers your utilization and it will raise score. Some creditors do a soft pull which is inquiry free, others will do a hard pull which lowers score but worth the hit for the credit limit increase. |
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Posted: 1/2/2022 3:33:16 PM EDT
[#39]
Quote HistoryQuoted: I got mine up to 820 to buy a house with the best rate possible, now I don't care. Once you have everything car, house , cards there is no reason why anyone should worry about the perfect 850 score. |
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Posted: 1/2/2022 3:52:43 PM EDT
[#40]
Quote HistoryQuoted: Once you have everything car, house , cards there is no reason why anyone should worry about the perfect 850 score. Quote HistoryQuoted: Quoted: I got mine up to 820 to buy a house with the best rate possible, now I don't care. Once you have everything car, house , cards there is no reason why anyone should worry about the perfect 850 score. Reasons to know and keep a good credit score/credit history: 1. You want to purchase a different home/move. 2. You want to refinance a mortgage. 3. You want to finance a car/RV/boat/land. 4. To get the best rates on car insurance as some insurance companies use your credit score to evaluate risk and therefore rates you pay. 5. To get a new job, as some employers review credit history for employment as part of the background check. This is legal in 39 states. 6. To identify identity theft and correct the issue before it becomes a much bigger pain to fix. |
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Posted: 1/2/2022 4:10:07 PM EDT
[#41]
Quote HistoryQuoted: I’m willing to bet one or more of your credit cards reports your utilization before your payment due date. While you aren’t carrying a balance…the credit score algorithm thinks you are and you have a higher score. Which is why I suggested that the OP reduce his credit card balance before the statement closing date....not using the DUE DATE as the payment deadline. If he has multiple cards it may take a month or so but I would expect his score to increase if he does this. |
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Posted: 1/2/2022 4:21:25 PM EDT
[#42]
Quote HistoryQuoted: Most people in this thread that track their score, brag, and try to figure out how to raise it are giddy at the idea of a social media score like what was talked about in China. Only poor people brag about credit scores. Those households making $150k+ a year move on with their lives and never bat an eye when financing My FIL was blue collar all his life, worked for US Steel as a yard worker....always brags about his credit score. I told him our house was purchased for 400k and my score was in the 600s. He didn't believe me until I brought out my mortgage paperwork Weird flex, but okay. 150k is the new 80k. Sorry you’re poor, over extended and don’t pay your bills. |
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Posted: 1/2/2022 4:31:42 PM EDT
[#43]
Only scores that matter are your FICO scores, people get surprised when they get a house and see they aren’t t using their credit score which is always higher than your FICO scores. Mortgage will use the middle lowest score between you and spouse. You can have a high score but have a thin credit profile, that’s why credit cards revolving debt is needed for a strong credit report along w one installment loan. People are always in rush to pay off their installment loans car, personal, school, mortgage but other than no longer having that installment you’ll have a big score drop due to the age, history and closed account. Paying off installment loans won’t make immediate impact to your credit score only paying off/down credit cards will help. Dave Ramsey who all of you love bought a $13 million dollar mansion, you think he paid cash? Guarantee he got mortgage loan and uses credit cards like everyone else.
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Posted: 1/2/2022 4:38:21 PM EDT
[#44]
Quote HistoryQuoted: Only scores that matter are your FICO scores, people get surprised when they get a house and see they aren’t t using their credit score which is always higher than your FICO scores. Mortgage will use the middle lowest score between you and spouse. You can have a high score but have a thin credit profile, that’s why credit cards revolving debt is needed for a strong credit report along w one installment loan. People are always in rush to pay off their installment loans car, personal, school, mortgage but other than no longer having that installment you’ll have a big score drop due to the age, history and closed account. Dave Ramsey who all of you love bought a $13 million dollar mansion, you think he paid cash? Guarantee he got mortgage loan and uses credit cards like everyone else. Installment loans are NOT required to have a very high score. When you pay off an installment loan your score does not take a "big" drop. Mine was minor and recovered completely within 4-5 months. You are speculating without any evidence on Dave Ramsey. Dave said multiple times that he paid cash for the home. You are calling him a liar with nothing to back that up? We call that "talking out yer ass".   "Everyone Is Now Dumber" - Billy Madison |
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Posted: 1/2/2022 4:40:38 PM EDT
[#45]
Quote HistoryQuoted: Reasons to know and keep a good credit score/credit history: 1. You want to purchase a different home/move. 2. You want to refinance a mortgage. 3. You want to finance a car/RV/boat/land. 4. To get the best rates on car insurance as some insurance companies use your credit score to evaluate risk and therefore rates you pay. 5. To get a new job, as some employers review credit history for employment as part of the background check. This is legal in 39 states. 6. To identify identity theft and correct the issue before it becomes a much bigger pain to fix. Quote HistoryQuoted: Quoted: Quoted: I got mine up to 820 to buy a house with the best rate possible, now I don't care. Once you have everything car, house , cards there is no reason why anyone should worry about the perfect 850 score. Reasons to know and keep a good credit score/credit history: 1. You want to purchase a different home/move. 2. You want to refinance a mortgage. 3. You want to finance a car/RV/boat/land. 4. To get the best rates on car insurance as some insurance companies use your credit score to evaluate risk and therefore rates you pay. 5. To get a new job, as some employers review credit history for employment as part of the background check. This is legal in 39 states. 6. To identify identity theft and correct the issue before it becomes a much bigger pain to fix. You don't need to max your FICO score, it just needs to not suck. |
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Posted: 1/2/2022 4:41:40 PM EDT
[#46]
Quote HistoryQuoted: Right, but you don't need an 800+ score for any of that. Opinions vary, but in my opinion, as long as your debt to income ratio is where it should be - anything over ~740-750 is just gravy for all 6 of those. And a score like that is very easy to get, if you're not fucking yourself over with late payments and collections. You don't need to max your FICO score, it just needs to not suck. Quote HistoryQuoted: Quoted: Quoted: Quoted: I got mine up to 820 to buy a house with the best rate possible, now I don't care. Once you have everything car, house , cards there is no reason why anyone should worry about the perfect 850 score. Reasons to know and keep a good credit score/credit history: 1. You want to purchase a different home/move. 2. You want to refinance a mortgage. 3. You want to finance a car/RV/boat/land. 4. To get the best rates on car insurance as some insurance companies use your credit score to evaluate risk and therefore rates you pay. 5. To get a new job, as some employers review credit history for employment as part of the background check. This is legal in 39 states. 6. To identify identity theft and correct the issue before it becomes a much bigger pain to fix. You don't need to max your FICO score, it just needs to not suck. Totally agree. I am not sure where the fixation on 800+ came from. Maybe from Equifax? https://www.equifax.com/personal/education/credit/score/what-is-a-good-credit-score/ Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent. Experian: https://www.experian.com/blogs/ask-experian/credit-education/score-basics/what-is-a-good-credit-score/ a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. |
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Posted: 1/2/2022 4:43:20 PM EDT
[#47]
Quote HistoryQuoted: Totally agree. I am not sure where the fixation on 800+ came from. |
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Posted: 1/2/2022 4:43:35 PM EDT
[#48]
Quote HistoryQuoted: You should definitely go finance a bunch of stuff to get a better credit score. This. TNVC has financing 
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Posted: 1/2/2022 4:45:01 PM EDT
[#49]
The number don't mean crap after 700. A 700 you can get any loan. The higher the number the better rates you "MAY" get. I've seen people get the same rates with a 720 & a 800.
If you want to see a high number all the time, carry small CC balances each month. |
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Posted: 1/2/2022 4:48:13 PM EDT
[#50]
Quote HistoryQuoted: If you want to see a high number all the time, carry small CC balances each month. The score is based on utilization and active accounts. You simply need SOME utilization which will happen even if you pay them in full each month. Carrying a balance month to month has zero impact, and ALL the credit reporting agencies state this. |
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