Credit Scores are such a joke. Experian has just realised I paid off my car a month ago and today dropped my score by 40 points out of 800. 40 points because I managed my money and paid off $10k of debt. 🤦‍♂️ - ThreadSky

ajpbradley.bsky.social • 98 days ago

Credit Scores are such a joke. Experian has just realised I paid off my car a month ago and today dropped my score by 40 points out of 800.
40 points because I managed my money and paid off $10k of debt.
🤦‍♂️

Comments

neiljulianwood.bsky.social•97 days ago

I get marked down because I haven't got enough debt 🤣

ajpbradley.bsky.social•97 days ago

Yeah, I’ve had that before. 🙄

garethdeanpr.bsky.social•97 days ago

Two of the three credit agencies have reduced my score for not being on the electoral roll.

Except I am and have been for almost 6 months?!!

crackedwindscreen.bsky.social•97 days ago

Its a scam, the whole industry is a scam.

ajpbradley.bsky.social•97 days ago

Oh, it absolutely is.

essexstu.bsky.social•97 days ago

Paid off £10k in summer, leaving almost zero debt. 4 months it took before scores went up. By almost bugger all.

hoddoo.bsky.social•98 days ago

Well stewarded debt is king, apparently.

ajpbradley.bsky.social•98 days ago

I was 3 points off “Excellent”, no small feat from “no, you don’t exist” in under 2.5 years.

hoddoo.bsky.social•97 days ago

That is a cracking turn around.

Reality is a well used credit card and considered debt is a solid path forward … assuming loans are always paid and no balance is carried forward on the CC.

motoringguru.bsky.social•97 days ago

I have never ever looked up my credit score.

ajpbradley.bsky.social•97 days ago

Neither had I until moving to the US in middle age and discovering that I couldn’t get a $1k credit card from the bank where I’d just opened an account and deposited thousands of dollars.

benjacksontp.bsky.social•98 days ago

Almost as if your rating is more about how much money lenders can make from you, rather than how safe a bet you are...

#racket

ajpbradley.bsky.social•98 days ago

Yeah, exactly, but in the US you almost live or die (not much of an exaggeration) by your credit score. Oh, and it doesn’t travel with you, which nice*.
*Not nice at all

benjacksontp.bsky.social•98 days ago

It's frightening just how much power the tech and finance industries have over our lives. Looks likely to get rather worse in the near future too...

ajpbradley.bsky.social•98 days ago

Yes, it is.
In the UK, Experian is a spin off from Littlewoods and the Kays catalogue.

jonbradbury.com•97 days ago

You should have more credit to improve your score. Takes out new card. Score lowered by 20 points. Thankfully I got the card for its cashback, not because I wanted more credit, but the recommendation and result amused me. It’ll probably have a hissy when I shut the old card

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