Credit Score thread

[Anonymous No.54720905]

Post your credit scores. Also, homeowners of /biz/: What are some tips to keep your credit score high ?

[Anonymous No.54721377]

>What are some tips to keep your credit score high?
Low non-zero utilization, length of credit history, never missing a payment. Utilization does not mean paying interest, there is a grace period between the time a payment is due and the time it is submitted to the credit bureaus

[Anonymous No.54721420]

>>54721377
I've got it set to pay in full monthly, but some have told me to set it to weekly.
What do?

[Anonymous No.54721475]

>>54721420
>What do?
I wouldn't worry about it, you need only optimize your credit if you're about to buy a house, otherwise just focus on autopay and average length of total credit history. If you want to test though, what has worked the best for me is paying off everything in full every month before the statement closing date except for 1% of one card, let that get posted, so the bureaus see I have a balance, then I pay that off. Then I do it again next month but with a different card

I was doing that until I got some 0% APR for 9 month limited time offer from my discover card, so instead I switched to just a simple "pay off some but not all of the balance every month" strategy.

[Anonymous No.54721492]

>>54720905

[Anonymous No.54721504]

Kek you’ll never get a house with those high ass scores I’m trying to get mine down to the 500 range

[Anonymous No.54722567]

>>54721504
? How ? Didn't understand...Don't you require a high credit score to be able to be granted loans to buy cars/houses at lower rates ? Else, your rates are higher if you have low credit scores.

[Anonymous No.54722590]

>>54722567
that's old world. this new world.
https://news.yahoo.com/biden-rule-redistribute-high-risk-211102885.html

[Anonymous No.54722635]

>>54722590
>https://news.yahoo.com/biden-rule-redistribute-high-risk-211102885.html
I'm in Canada, in BC. Does this affect me ? I genuinely don't know. What are the rules here ?
t. clueless Anglo who immigrated here

[Anonymous No.54722694]

Not posting a screenshot, but somewhere between 700-800.

What bugs me is I get penalized for using my card.
>Low $3500 limit.
>Usually only put $100 or $200 on it, and pay it off 100% each month.

I coulple months ago I had a $3000 expense, so I used my credit card for it, rather than my debit card.
I paid it in full when it came up on the next monthly statement, but my credit score fell by like 80 points just for using the card.

The next month they raised my limit to $5500. I guess it's related, I don't know. I didn't ask for an increase, but am happy to have one if it means using the card won't hurt my credit.

[Anonymous No.54722719]

>>54722635
I've never met a guy with a manbun who wasn't secretly gay. 100% of them are closet fags.

[Anonymous No.54723281]

>transunion 706
>equifax 667

Redpill me. I have no doubt in my mind that the equifax score is more important, isnt it? more concerned in buying a house (obviously gonna buy after I raise my credit a bit more) but I want to know, is transunion worth jack when going to buy a house anons?

[Anonymous No.54723358]

>>54722694
Just give it time and your credit score will return to normal. You pretty much maxxed out your available credit, so even if you pay it immediately, they are still able to lower your credit score temporarily for the time your credit was maxxed out. By making the payment you credit score will return to normal. Same thing happened to me, but not even close to 80 points.

[Anonymous No.54723411]

>>54720905
I'M STEALING FROM YOU

[Anonymous No.54723496]

>>54723358
I didn’t know about this shit. Can I sue a banker for giving me false financial advice? I never talk about credit with anyone so I don’t really know much about it but some fag once told me to buy everything with a credit card and pay it off every month, and I’m just finding out you shouldn’t spend much with it
When I make large purchases I use debit, but couple months ago I bought a $3000 laptop and put it on the card and my shit dumped from 788 to 680 I had no idea why, the bank nigger told me it would be fine

[Anonymous No.54723528]

I don't know my good goy score, nor do I care to. Because I'm not a good goy, unlike OP.

[Anonymous No.54723706]

Currently have ~780 without trying to minmax my credit score or anything.

Is this going to impact my life at all if I don't plan on getting a house or car?

[Anonymous No.54723878]

806 and all i did was get a few credit cards and pay them off in time. I don't understand how subhumans manage to have scores in the 600s.

[Anonymous No.54723883]

>>54720905
Once you have your mortgage at a fixed rate, there's no reason to be a good goy and pay off your bills every month. You should be leveraging your credit.

Buy cash with a 0% interest credit card, and use the cash to buy crypto. When the promo period is done, transfer it to another 0% interest card.

[Anonimos No.54724821]

>>54720905
Keep it high? Lmao seems you didn't get the memo

[Anonymous No.54726442]

>>54720905
Autopay it all off. It's not worth thinking about your credit score too much as long as you're doing that

[Anonymous No.54726587]

>>54720905
i havent done anything other than pay my bills on time for the past 15 years

[Anonymous No.54726609]

>>54726587
Nice. I only just got my first credit card at 27 and am already at 720 from 600 in less than a year. Still dont have a job though so unfortunately I'm on a $300 limit. Maybe one day I can reach the heights of an employed man... one day.

[Anonymous No.54726674]

>>54726609
How did you make it to 27 without a job? Genuinely curious, and nice score dude

[Anonymous No.54727844]

>>54726674
Bernie Sanders didn't have a job until he was like 60.

[Anonymous No.54729087]

the algo won't let me get above 820 despite never being late or using more than 20% of my credit. i paid off my mortgage early, and have an auto loan that im ahead on.

they must know I hate the antichrist and want to free palestine

[Anonymous No.54729191]

>>54723706
Yes, anytime you need a loan, you'll probably get a good deal and people won't make you go through hurdles to get approved.

[Anonymous No.54729214]

>>54720905
i have this credit score and i still live with my parents

[Anonymous No.54729421]

>>54720905
>asking homeowners about their credit score
I don't care anymore. I already own a house. Just pay your bills on time.

[Anonymous No.54729520]

>>54720905
>trans

[Anonymous No.54729995]

>>54721475
>you need only optimize your credit if you're about to buy a house
Tanking your credit unironically gets you better rates. That’s how fucked everything is

[Anonymous No.54730805]

>>54720905
das rite

[Anonymous No.54731706]

>>54729087
>or using more than 20% of my credit.
use less, you take small hits when you go over even 5%

[Anonymous No.54733595]

>>54730805
kek came here to post this

[Anonymous No.54733627]

>>54720905
I don't even know how other than I have cc debt I am paying off from when I was unemployed without unemployment benefits. $900 left and debt free other than my house jew debt. Its literally a goy score.

[Anonymous No.54733804]

>>54720905
>trans union
literal credit tranny

[Anonymous No.54733815]

I ran up my credit cards + loans for 100k and put it into crypto

[Anonymous No.54733844]

So for building credit it's better to pay everything off instantly or to drag it out paying over time?

[Anonymous No.54733922]

>>54733844
Keep utilization between 1-25%.

[Anonymous No.54734460]

>>54720905
>high
SMOKE MORE

[Anonymous No.54734597]

>>54723496
it goes right back up when you pay it off.

[Anonymous No.54734637]

>>54723281
I'd just get 2-3 scores and take the average of all of them

[Anonymous No.54734688]

>>54720905
Is there any way to do a bank transfer with a credit card? Like I may as well pay rent with it too right if I'm just going to get points?

[Anonymous No.54734847]

How am I doing lads?
Can I get a good rate for a car loan?

[Anonymous No.54735039]

>>54733922
Anybody else with tips like this? Does the amount of cash I have in the bank play a factor? Income?

[Anonymous No.54735234]

>>54722694
The reason your credit score was affected is because you had a high utilization rate. (3000/3500=~85%) You should never have a utilization rate higher than 10% and even then, you should keep it as low as possible. What you should have done is pay that 3000 with your card and the next day when it posted, you should have paid it in full immediately before it got reported to the credit bureaus. This is what people mean when they say "use your credit card as a debit card" but most people are too stupid to understand that it gets you free 1-5% discounts on literally everything you buy.
The reason that they increased your limit, is partially because of your high utilization (which seems backwards I know). The credit card company saw that you used your card for a large purchase so they "helped" you by giving you a larger credit limit so that your utilization rate stays lower next time you make a big purchase.

[Anonymous No.54735247]

>>54735039
Limited if any direct impact from income, though this can usually be leveraged into higher credit limits, and makes your utilization percentage smaller as a result
Cash in a bank doesn’t matter
t. 799-820 credit score haver depending on agency

[Anonymous No.54735291]

>>54735247
I appreciate it. I went over the limit on a card for one month but paid it down to 80%. Was starting new job. Am I fucked or is this fixable? Already dropped to 706

[Anonymous No.54735355]

>>54723706
If your score is 780, youre already above the 750 threshold which gets you the optimal lowest monthly payments on buying a car/house.
>>54723878
When you dont have any credit history or just started, your score will start at a low number 500~.
>>54726442
This is correct, auto-pay should be turned ON at all times and set to "pay in full statement". People dont realize they should never pay "minimum payment due".
>>54726609
You can get a credit limit increase if you have been with the bank longer than 1 yr and have good payment history.

[Anonymous No.54735370]

>>54735291
>over the limit
you mean you spent more than the credit limit on the card? Doesn’t seem likely as that’s the point. Do you mean your credit utilization was over the “soft” limit of 20-30%?

[Anonymous No.54735791]

>>54729995
No it doesn't, this /biz/ meme is getting out of control, Ben explains how it works here, just because lower credit score are paying less than they did before doesn't automatically mean they are paying less than ANYOTHER CATEGORY.
https://www.youtube.com/watch?v=mjii9J3KBwk

[Anonymous No.54736030]

>>54735791
Have you even watched that video? He literally point blank states that people with decent credit scores 720-760 will get hit the hardest. This is not a case of Fox News running with bullshit headlines. Anyone with a decent credit score WILL be paying more in fees and people with shit credit scores WILL be paying less. Yeah there’s an argument to be made that people with shit credit were paying too much before and this helps them, but it makes absolutely no sense to penalize people who take their finances relatively seriously to do so.

[Anonymous No.54736357]

>>54736030
>This is not a case of Fox News running with bullshit headlines
That isn't what I am complaining about.
>>>54721504
>>>54723411
Are memes
>>>54729995
This anon genuinely believes the best rates are for lower scores, that is the sniffing your own farts shit I keep seeing on /biz/.

[Anonymous No.54737346]

>>54723411
based

[Anonymous No.54737360]

>Be 29
>never have need for credit
>finally get credit card
>one year in credit is like 680.

[Anonymous No.54737457]

>>54737360
that is good, although it might rain on your parade a little to know the scale is from 300 ~ 850, and most people start around 600 not 300

[Anonymous No.54737485]

>>54737457
I'm aware. I'm just saying in a year 680 is pretty good. Im actively working on raising it. Saving for a house so in about 2-3 years when i have enough I'll be fine.