credit score and paying off debt

[Anonymous No.50891691]

I want to buy a house next year when the market bottoms and want my credit score to be as high as possible. Stats:

>705 credit score
>50k debt (only 5% of this is credit card debt, credit utilization is 10%)
>150k in liquid assets/cash
>return on investment outpaces debt interest APR
>95k a year salary

if i withdraw 50k and straight up pay my car and some private loans, apparently my score will drop. I'm not struggling but if I pay off my debt i'll have an extra 1.5k a month in my pocket.

To maximize my credit score I really just have to autopay everything for years and just consider the interest rate the cost for a good score?

[Anonymous No.50891700]

>>50891691
you're a poor faggot lmao

[Anonymous No.50891703]

>>50891691
This a demoralization thread?
I guess it is now.

[Anonymous No.50891715]

>>50891691
Daily reminder that finn is being groomed by this man

[Anonymous No.50891745]

>>50891703

what?

I didn't even say how old I was, I could be 55 for all you know, A 100k net worth at 55 is terrible

[Anonymous No.50891751]

>>50891691
Sorry, I am retarded with this, but why would your score drop if you paid off your car and loans?

[Anonymous No.50891757]

>>50891691
I only make like, $75k, and by paying my bills on time I went from a 600 credit score to 760 after a couple years. Didn't even know it but some landlady wanted to know so I looked it up. Spend so much time around wealthy folk I forget credit is even an issue.

I like to separate my funds into 2 banks. 1 bank for autopay, 1 bank for excess income. So I just calculate my monthly expenses and have my job pay into that basket and send the excess to my excess income account.

Great way to ensure you'll never miss a payment, so you can focus on shit that matters instead of wondering if you paid your water bill.

[Anonymous No.50891793]

>>50891751

apparently repayment history is a big portion of your score, which is why they tell you never to close your oldest credit cards. That's something else I was thinking about doing, my first credit card has a ghetto $25 monthly fee with no autopay and I don't use it but it's 12 years old so if I close the account my average credit age is going to plummet

[Anonymous No.50892031]

>>50891691
>I'd pay those loans down but not pay them off because having a good mix of loan types helps.
>paying them down would get your utilization percentage lower because you don't even want to be near 10% keep it at 5 for excellent credit.
>up your credit card limits to impact your overall available credit. this will bring utilized percentage down as well.
>always pay daily expenses on credit and pay the card off at the end of the month.

I cannot stress the credit card purchases enough. not only is it good hygiene to never use your debit card (and expose your checking account) it also provides cash volume through creditors and gets you good goy points. be mindful not to make stupid purchases for shit you don't need just because of the illusion of cashback rewards or miles. that's all bullshit, nothing is free.

I worked hard to get my credit over 800

[Anonymous No.50892039]

>>50891703
Stop being a fucking commie

[Anonymous No.50892097]

>>50891691
>50k in debt
>wants to buy a house
>went 50k in debt for a car while being a rentoid
The bank will cuck you on debt to income ratio because of your car. Even more so if housing prices colapse. They get really Jewish about selling you a house then.

[Anonymous No.50892134]

>>50891691
Why do you keep posting this man

[Anonymous No.50892250]

Unless your score is in the toilet (<620) credit will have a small effect of your ability to buy, DTI plays a larger role. Keep 20% of your projected purchase price plus $10k (closing costs) and pay off the debt with the rest. You can min-max your score a little in the next year by increasing total available credit, while keeping utilization close to zero, but most of your score is longer term components like paying debt on time and age of credit

[Anonymous No.50892278]

Thank god I don't live in the USA, this credit score shit is so retarded.

[Anonymous No.50892288]

>>50891691
That's a woman

[Anonymous No.50892293]

>>50891715
>>50891691
Daily reminder that trannies deserve the rope

[Anonymous No.50892295]

>>50891793
>which is why they tell you never to close your oldest credit cards
sorry that sounds like eternal enslavement, having to think about a number on the screen your entire life. not to be crude but you should stop giving a fuck what the jewish number says at some point. youre not even using most of it and a low score doesnt have that much of an impact on your life

[Anonymous No.50892308]

>>50892288
I honestly can't tell anymore but I was told this is a man so that's what I'm going to believe.
I remember the early 2000s when my biggest worry was whether a girl looked older but was actually underage.

[Anonymous No.50892358]

>>50892250

so lets say I was going to buy 14 months from today. With the exclusive goal being improving score, would you say it's better to pay off my loans tomorrow and increase my DTI immediately, or have that extra year of diverse loan repayments? Or does it not make a difference?

It makes no difference to me because my return on investment is greater than any of the loans, so im not making money paying them back, just curious about my score

[Anonymous No.50892360]

>>50891691
booba

[Anonymous No.50892602]

>>50891691
A MAN I SAY

[Anonymous No.50892628]

How tf is this dude turning into a woman before our very eyes?

[Anonymous No.50892644]

>>50892031
>credit score
You mean your GoodGoy (tm) score?

[Anonymous No.50892836]

>>50891691
you have a whole year, just pay all your bills on time, and I don't think paying off credit card debt (but not the car loan) early hurts your score at all. That would help with your utilization. don't apply for any more loans

[Anonymous No.50892849]

>>50892360
it's literally a fucking plastic breastplate anon, wake the fuck up

[Anonymous No.50892852]

>>50892628
fucking science!

[Anonymous No.50892862]

>>50892849
stop destroying our most sacred of dreams

[Anonymous No.50892867]

>>50892628
Straightbros...

[Anonymous No.50892868]

>>50891715
What's the name of this semen demon

[Anonymous No.50892880]

>>50892867
>pretending to be something can turn you into that thing
>especially when you throw dopamine in the mix (attention, monetary rewards, drugs, alcohol, sex, etc)
No shit. Even pretending to be a tranny can make you develop their mental illness.

[Anonymous No.50892900]

>>50891691
That's a pretty girl.

[Anonymous No.50893007]

>>50891691
there wont be a housing crash unfortunately. just a correction as people get priced out of the market. also youre still way too poor for a house unless you are buying in a flyover state. and at that point its still better to rent unless you found a gem somewhere.

how old are you anon? might be worth it to wait

[Anonymous No.50893314]

>>50892862
nothing is sacred anymore on this hellhole of a land

[Anonymous No.50893426]

>next year when the market bottoms

[Anonymous No.50893776]

>>50891691
>next year when the market bottoms

WHAT?

[Anonymous No.50894948]

>>50892358
Pay off immediately, as the (small) hit from closing accounts will have washed out in a few months, payment history is mostly "he pays on time" the size/type of payments matters much less (as long as you have a history of diverse credit, which you do)

[Anonymous No.50895637]

>>50892293
finn is not a tranny. he just likes to dress up as a girl for livestreaming. i'm not sure why he got a boob job though...

[Anonymous No.50895671]

>>50891691
This a tranny?

[Anonymous No.50895771]

>>50891691
The great thing is you have 150k. Use that to pay your debts. Seriously, get your DTI as low as possible before you buy a home or get a mortgage loan. Meanwhile, use maybe 50k to pay off your debts but also look into better credit cards. Make additionally payments for each debt as well.

After your debts are paid, how much do you want to put down and how much do you want to finance for a home? Preowned or new?

[Anonymous No.50895787]

>>50895671
Obviously. Look at the brow

[Anonymous No.50896130]

>>50895671

[Anonymous No.50896220]

>>50893776
The crash has only just begun and will accelerate into the fall and winter

[Anonymous No.50896243]

>>50892867
is he on hrt?

[Anonymous No.50896657]

>>50892880
There is no fucking way this dude isn't completely fucked in the head.
Why is culture so afraid to claim genuine mental illness on this shit? So fucking weird.

[Anonymous No.50897101]

>>50891691
does it do feet stuff yet? Looking fucking good