kinda pisses me off that credit score is improved by having a higher average credit age but is also improved by opening more credit accounts, which lowers your average credit age.
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#notsponsored
Fuckin
Chime and varo with their fuckin, uuuuuh, secure deposit something something cards brought my credit up like 250 points in like 4 years, just using them as a debit card
A few years ago my dad wanted a contract phone. He was denied unless he had a guarantor.
Up steps me who was at the time £7k in debt and barely keeping my head above water to sign off for a man who had paid off his mortgage by 46 and had a substantial savings account
I never missed a single payment in 8 years across multiple bills, but I was a day late paying my phone bill ONCE and mine dropped by 58 points. how does that make any sense
i feel like the systems i am literally required to interact with in order to exist as an adult in america with as little friction as possible should not in turn feel actively hostile or like they are trying to trick me
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Man, it's almost like that's on purpose, almost like we let the people who give out loans also make the rules for credit scores. But that would be ridiculous, there would surely be a vested interest there if that was the case now, wouldn't it? Thank god we don't live in that hell reality.
I have the credit score system so much. Tried so hard to do it their way but every time I tried to get a card or line of credit I was rejected for 'insufficient credit history'. So I said eff it. I did end up lucking into a lofe situation where I don't need it at least.
I had a perfect credit score. Then I retired and paid of my mortgage. Credit score went down!
I have no debt and a worse credit rating how does that make sense?
and then you get credit cards to spend money so you can increase your credit by paying it to increase your credit score but it doesn't increase a lot unless you buy expensive stuff so that way you're worth more
Comments
Fuckin
Chime and varo with their fuckin, uuuuuh, secure deposit something something cards brought my credit up like 250 points in like 4 years, just using them as a debit card
Up steps me who was at the time £7k in debt and barely keeping my head above water to sign off for a man who had paid off his mortgage by 46 and had a substantial savings account
ngl i liked the "i'm taking everything from you, give me your phone" eggman speech better
High age of credit = high interest accumulation.
More accounts = more willing to indebt yourself.
The only way to “win” is to have a lot of accounts accumulating interest over a long time, while never defaulting on any payments. lol
I love to see it.
i use debit
I have no debt and a worse credit rating how does that make sense?
what is this system and why do we have it