I swear every time I think I know my score it comes back all fucked up.

Shit is a racket.

That is all.

cards? I use that to monitor it monthly, so no surprises.

each and every one of them joints lol....
And they all are supposedly reporting my scores for the 3 agencies too...
So....Wells Fargo's free credit score has different numbers from the ones on the American Express & Citibank & Chase AND Discover card free credit scores....

Like Legs said....it's a racket...


"Get ready....for your blessing....."
"Bury me by my Grand-Grand and when you can come follow me"

How the fuck is my score on the bank app so different than the score once they run my shit?

Now I did just refi and closed an account with another bank but it shouldn’t hurt my score that much.

Hell, why should it even hurt my score at all?

Pay off a car.. credit takes a hit
Pay off a card.. credit takes a hit

This some bullshit.

That can adversely affect your credit score because it fucks up the ratios....

A balance with high credit availability is better than having balances along with low credit availability.

Sometimes the assumption is made that having zero debt and zero credit cards is good....but it's not...it's kinda bad...

...keep in mind i didn't cancel them, i just paid off the balance!! the whole shit is a scam

Called and the rep “explained” it’s better to have a little balance, under 3%, than to pay the cards off in full. He said when the balance is zero they can’t calculate a percent so it’s “worst”. It’s all a BS game, but if u know the rules u can work it. I leave ten bucks balance on all my cards month over month and my score shot up, across all three of the major credit bureaus

Credit Karma had me feeling myself earlier this year when I was trying to qualify for a loan and the score I got on my rejection letter was like, 100 points lower. I did have some past financial dumbassery to correct but even now, Experian gives a closer score to the “official” notices I get when applying for things.

https://www.businessinsider.com/credit-score-around-the-world-2018-8

Almost all free credit score services (Credit Karma, Credit Sesame, most scores that come free with bank and credit card accounts) are not actual FICO scores, and use different scoring like VantageScore. They are fine for following trends as you work on your credit, but if you’re about to make a major purchase like a home, a car, or a refinance, you need to know your actual score.

You can track your actual FICO score for free from Experian. They will also let you track your FICO scores from Transunion and Equifax but you have to pay for that. MyFICO will let you track all three as well, if you pay for it. You don’t need a subscription - if making a major purchase it’s worth it to pay $20 to know what your actual scores are.

Notice I said scores in plural - it isn’t just the 3 bureaus that have separate scores. There are many different versions of each. FICO 8, FICO 9, FICO 2, and all the industry specific versions - separate FICO scores used by mortgage companies, for auto loans, for credit cards, etc. The paid versions of MyFICO and Experian will let you track all these different versions. If making a major purchase you can research which version that company will use. For example most mortgage companies will use the FICO mortgage score 5, and they will typically pull all 3 bureaus and use your middle score of those 3. Auto financing companies and credit card companies will typically pull the industry specific FICO score from one bureau. So for. Example when buying a Toyota and financing from Toyota Financial Services you might research and find out they use the Transunion FICO Auto Score 8.

Again - it is absolutely worth it to pay MyFICO or Experian for your actual scores when making a major purchase. It WILL save you money.

In addition to this the biggest tip I’ll give on boosting your credit score is using credit card utilization to your advantage. Utilization makes up 30% of your FICO score - second only to payment history which is 35%. But with utilization it’s calculated every month - so if you have credit card accounts and pay them off before the statement date to get your utilization down to zero it will boost your score. (Insert disclaimer about only using credit cards if you a responsible enough to pay them and to not carry a balance.) Even if you are currently paying them off every month, if you pay after the statement date, before the due date, the statement balance counts against your utilization. So for example if you have one credit card with a 1000 dollar limit, and the due date is the 1st of the month, the statement date might be a couple weeks before that. If you charge $500 on your card, and pay it on the 25th, before the due date, you are paying after the statement date and you utilization is at 50% which is not good for your credit score. If you paid it off on the 14th before the statement date, your utilization would be zero percent.

Seems like a dumb system if a significant part of the score is able to be gamed like this.
Two people with the exact same ability to pay will have different scores just based on the timing of their payment. Even if the both pay of balances in full each month? Is that what you're saying


>But with
>utilization it’s calculated every month - so if you have
>credit card accounts and pay them off before the statement
>date to get your utilization down to zero it will boost your
>score. (Insert disclaimer about only using credit cards if you
>a responsible enough to pay them and to not carry a balance.)
>Even if you are currently paying them off every month, if you
>pay after the statement date, before the due date, the
>statement balance counts against your utilization. So for
>example if you have one credit card with a 1000 dollar limit,
>and the due date is the 1st of the month, the statement date
>might be a couple weeks before that. If you charge $500 on
>your card, and pay it on the 25th, before the due date, you
>are paying after the statement date and you utilization is at
>50% which is not good for your credit score. If you paid it
>off on the 14th before the statement date, your utilization
>would be zero percent.

version 10. With FICO score 10 instead of being calculated every month just based on that months utilization, it's supposed to be a moving average of the last several months - which would mean you would have huge spikes or dips in your score just based on the timing of your payment. That being said, it takes years for lenders to actually start using the newest versions of FICO scores, so most will still use FICO 8 or 9 or the next several years.

>Even if the both pay of balances in full each month? Is that
>what you're saying

Yes, exactly. This is easy for you to see even on free Credit Karma/Credit Sesame accounts - look at your credit card accounts and the reported balance. If you pay them off every month but after the statement date, the reported balance is whatever is actually on the statement (statement balance). Your goal should be to have a statement balance of zero (some people think you should have a balance of a dollar or something, just so you have actual usage being reported).

on your last point, is it possible to pay a credit card balance too soon? especially for the cash back offers? or i can charge something to it in the morning and pay it off at night?

i got a new credit card in the beginning of the year that has cash back but i didnt touch it for months. recently i started using it for things i would usually use my debit card for with the intention to pay it off before the payment date. i havent been on a strict schedule but usually pay off a purchase within two weeks. to be honest i havent used it regularly as i am scared i dont have the discipline. i need to get past that. i think knowing how soon i can pay off a charge would help.

i probably wouldnt pay it the same day, if it even posts the same day but i would be paying it within a couple days. maybe pay it off every friday? are multiple monthly payments bad?

I set a calendar reminder for all of my cards to pay them off a couple days before the statement date.

It also isn't possible to pay it off too soon. Most card companies won't let you pay until the transaction is posted.

>Most card
>companies won't let you pay until the transaction is posted.

but I want to note that American Express allows me to pay for transactions once they are pending on the card. I don't have to wait until the business day or so when the transaction will actually post to the account. The Amex mobile app allows for making payments the same day of the transaction. I imagine the same could be possible if using a regular browser to track transactions, but I'm not 100% sure.

I notice with Discover and Capital One (VISA), that isn't the case. Having to wait the business day or two for transactions to post to those accounts can be tricky.

>I notice with Discover and Capital One (VISA), that isn't the
>case. Having to wait the business day or two for transactions
>to post to those accounts can be tricky.

Because of this I have my calendar reminders set a couple days previous to the end of the statement close date to be sure I don't have a pending transaction that floats. AmEx is consistent (and as you mention let you pay on a pending transaction), but Chase and Capital One aren't nearly as consistent with the number of days a transaction is pending.

But weekly sounds like a good idea. However, like she said, find that date when they report and make sure you don’t carry that balance on that statement day.

Shit pisses me off because it seems like every time I go for an important purchase my score dips dramatically as soon as I say run my shit.

Shit feels racist af.

you want to have the balance be zero (or as low as possible) each statement date?

Like she said.. if your statement date is on the 25th. Don’t charge a large item on the 24th. Wait until the 26th.. or a few days later.

This is what fucked be up. My balance went up by a few hundred and my score dipped significantly even though I pay it down every few days. It was just a timing thing

them a week or two before the statement dates. I've been burned before by having a transaction take a bit longer to post, and end up posting right before the statement date bumping up my utilization.

It's not a big deal unless you're making a major purchase that month - if your score drops 30 points one month you'll jump right back up 30 points the next month by getting your utilization back down to close to zero. But it's definitely something to be aware of.

I had no clue there were additional credit scores outside of the ones from the three major credit bureaus. I can't imagine they are that divergent from the main three though. I suppose it makes sense to pay for the actual report if you plan to buy a house or a car since getting accurate information about ones credit is important. While I know the score isn't on there, the info from the free annual credit report should be somewhat helpful I though think since it does show payment history from all three of the major bureaus.

Is it true having your credit score checked repeatedly in a short amount of time can hurt your score? I read that a while ago, but I have no clue how true that is.

Hard pulls on your credit will stay on your report for two years, but won't affect your score after one year:

https://www.nerdwallet.com/article/finance/how-long-hard-inquiries-stay-on-credit-report

>Is it true having your credit score checked repeatedly in a
>short amount of time can hurt your score?

This depends on what you're doing. If you are buying a house or refinancing then multiple hard pulls on your credit get counted only as one if within a month - because they know you have to shop around for different mortgage companies. But multiple credit card pulls within a month all get counted individually, and will affect your score for the next year. That being said, inquiries only count for 10% of your FICO score, so if everything else is good (payment history, utilization, age of credit history, mix of accounts) then the number of credit inquiries won't really matter.

lol

thank you and well done.

boosting your score by counting utility/mobile payments...

feels dubious no matter how much I read about the equity it could create for those (me) with limited credit resources

thanks

I'm currently getting a boost of 8 points on my Experian report because of Boost (mobile phone, the electric company, my internet service.)

The issue is the boost is only for Experian - those utility accounts won't show up on TransUnion or Equifax. It would be helpful if I was applying for credit from a lender that specifically uses Experian, but not much more than that. So you have to balance that benefit with the potential negative of giving Experian your bank account information to connect with and find accounts. Just depends on how private you want to be with your information.

that's why they made it so secretive years ago. its still shady, but it's easier to find out your score now.

once I figured out the utilization thing, I started using it to my advantage. shoots the score way up by having more available credit.

another item to consider is type of debt. loans (not counting student loans) will help your score much more than credit cards. loans can help show the trend of paying stuff down consistently. cards tend to go up and down and will effect your score more frequently.

my personal loan helped me get rid of my card debt. and I was in position not to that card debt back up. I actually did close multiple accounts, although its not recommended. I wanted to make sure I wasn't going to be using those cards again and didn't have the discipline not to.

eventually my score went up way up and I was able to get cards with much lower rates than before. I use them periodically, but my utilization is no more than 2% max.

now I only have 2 cards with revolving debt but my score goes up and down 70 points on credit karma every few months.

Going to pay these 2 joints down and sit still for a while.

We just knew we were straight. Got our reports back like “WTF???”

have you feeling all spicy. then you apply for something and see the real deal.

I'd say open up another card and don't use it or buy something small to pay it off. your utilization will go down and your score will go up. just be mindful of which card you're getting. that's the game I play now.

I don’t need another one.. lol.

I have one I use a lot for cash back with 0%APR. I need to pay it down. I use it a lot for the cash back. Just have to get better at keeping that balance low before the statement date.

Discover IT raised my credit limit to like 12 stacks.

Umm ok. I ain’t touching that card.

I paid off my student loans in full via an ECH payment to fully pay off the principal some months ago. Ever since then, my Experian credit score that was in the mid 800's dipped to the high 700's. How does paying off a loan result in that credit score dipping?

My Equifax score is still in the mid 800's and I don't have access to my Transunion score for free, so I don't know what that score is.

Each component has different weights: https://www.myfico.com/credit-education/whats-in-your-credit-score

So when you paid off your student loans, two components in the score were probably negatively affected: length of history and credit type mix.

It's likely that the student loan was one of your longest running accounts. So paying that off could bring the average age of your existing accounts way.
And if the student loan was your only no-credit card type of debt, then your score will be negatively affected after paying it off since you no longer have installment loans on your history.

It's a dumb system, but that's just the way it is. But I wouldn't worry about it unless you have immediate plans to get new credit (car loan, mortgage). You score will eventually go back up if you keep doing the right things.

>It's a dumb system

>It's a dumb system

Financially responsible enough to save up and pay off a loan entirely ........... your score suffers.

WHAT ?!

Just one in a long line of examples of why this country is dumb/oppressive as fucking fuck.

I suppose it's a good thing there are two other major credit scores outside of Experian. Still frustrating to get dropped to a lower credit scoring tier as result of being responsible with my loan, but it is what it is I suppose. Almost comical that I got dropped to a 799 instead of a 800.

>Each component has different weights:
>https://www.myfico.com/credit-education/whats-in-your-credit-score
>
>So when you paid off your student loans, two components in the
>score were probably negatively affected: length of history and
>credit type mix.
>
>It's likely that the student loan was one of your longest
>running accounts. So paying that off could bring the average
>age of your existing accounts way.
>And if the student loan was your only no-credit card type of
>debt, then your score will be negatively affected after paying
>it off since you no longer have installment loans on your
>history.
>
>It's a dumb system, but that's just the way it is. But I
>wouldn't worry about it unless you have immediate plans to get
>new credit (car loan, mortgage). You score will eventually go
>back up if you keep doing the right things.

Things like home, student and car loans aren’t supposed to be forever, they even have an end by date so as long as you pay it off on time or early your score shouldn’t suffer but the system is dumb.

pay attention to the last day of your billing cycle

i thought I knew but i had the wrong date.

no one to blame but myself. smh.

1. I bought a house
2. Paid off my car
3. Got a loan for solar
4. Ran up some CCs to buy stuff for the new house

All of these have resulted in my credit score dipping considerably but I’m not worried because I don’t plan making any major purchases in the next 12 months that would require my credit score to get pulled again.

you should automatically jump 20 points when you pay off a major item like a car.

I would think that anytime you pay off a loan and your DTI ratio decreases would be a good thing and your score would go up.

is able to have multiple accounts, of different types, all with monthly payments, and always pay them on time is seen as a lower risk than someone who pays something all the way off and isn't managing that account on a monthly basis. The credit score isn't a reward for being responsible, it's a predictive way to see how well you can manage debt, and that prediction of risk is important if a company is considering loaning you money and giving you more debt.

Yes there are shades of gray - if you have 15 accounts and pay off 1, there shouldn't be more risk in loaning to someone with 14 accounts vs. 15. But it's all just math and averages to them.


>you should automatically jump 20 points when you pay off a
>major item like a car.

Then that should be an indicator that I can manage and pay off future car debt on time. This shows I’m a responsible lender.

Because obviously if I didn’t pay off my car debt on time or didn’t pay it off at all then my score would go down because the lenders would use that as an indicator I’m not responsible with debt.

the only risk is less money for them.. lol.

but if I pay my car off early how does that make me riskier than someone who has 5 more accounts paying the minimum wage each month?

From the credit reporting agency's perspective, they aren't looking at you as one holistic person that has a story involving all of your finances. They look at all of the separate aspects of your finances separately.

So from a matter of risk - your example of someone with more than 5 accounts paying the minimum each month is looked at in separate pieces. Only paying the minimum each month is an element of risk weighed much more heavily than the number of accounts they have.

Look at it from an apples to apples perspective. Person A has 10 accounts, with on time payments on all of them for 7 straight years, and a credit utilization of 5%. Person B has 9 accounts, with on on time payments on all of them for 7 straight years, and a credit utilization of 5%. Same amount of income, same average age of accounts, etc. All their computer cares about is that 1 extra account shows less risk in their ability to manage one additional payment every month.

Another way to look at it is that it's not that paying off the car makes you more risky, but that having an active account that is always paid on time (especially installment debt vs. revolving debt like a credit card) makes you less risky, so you get a boost while having that active installment loan that goes away once paid off.

I'll never be broke.

yeah it's a dumb system...your worth is based on DEBT.

>yeah it's a dumb system...your worth is based on how well the monied interests can profit on your DEBT.

https://youtu.be/tS7duHEX2l8

Founder of M.W.S
(Insert comment here) We insert all the time!

I have no negative marks, credit usage dropped 2%, credit limit increased by $5000, then only thing that changed was an inquiry from thinking about getting another car



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from all three? Also, if it was an inquiry for a car loan are you absolutely sure that it was only one hard pull? Some dealers will shop the credit around with multiple hard pulls from various lenders.

>from all three? Also, if it was an inquiry for a car loan are
>you absolutely sure that it was only one hard pull? Some
>dealers will shop the credit around with multiple hard pulls
>from various lenders.


and the inquiry was with my bank specifically so if they checking with multiple lenders I need to change banks lol, and it was supposed to be a soft pull at that.


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Mine will random drop 30-40 points about once every 4 months.

No discernable reason as to why.

Been 837 one month, then drops to 806 the next.

Literally nothing has changed about my habits, my debts/etc. No inquires. Literally nothing - except maybe the passage fo time.

Paid off my car, a set of tires i bought on credit, etc. Score dropped immediately. I get the explanation for why your score goes down for a "closed account" but i still think its bullshit that completely paying off a car loan and fulfilling your commitment actually DROPS your credit score.

that we had built this year. Closed on the sale 10 days ago, and the closing for the purchase is next week. The credit bureaus should see an update that my old mortgage is closed this week, after the first, and that will likely impact my score.

I should be fine, we’ve already locked in our loan and the underwriters for the new mortgage shouldn’t need to pull credit again since it was recently pulled. Also I don’t expect a big impact because I have a very strong mix of accounts and a decent average age of accounts.

THAT is why closed accounts can have a big negative impact…if you don’t have a lot of credit accounts, paying off one and closing can rank your average age of accounts as well as your credit mix. It’s total BS. But the system is made for the lenders who are making money on us, and they’d rather see someone with a lot of accounts managing them well than see someone with only a couple accounts applying for new credit.

after I paid it off. Should see Transunion and Experian update soon too. On top of this I expect another hit when the mortgage for my new house shows up, with it being a new account and much younger making the average age of my accounts shorter.

Definitely BS. But it’s a system designed for the companies who make money off of us using credit. And we could choose to not participate in that system. But for me there are benefits of using that system to my advantage. Like the HUGE amount of equity I just cashed in from selling my old house which was over half paid off.

Were looking for a new home and trying to make sense of it all.

Is there anyway to get the FICO with 3 scores more cheapy than 19.99 a month. Ive looked around and google discount codes, but other than the trial that seems to be it. I guess i wont need to keep seeing my score after I buy a place--but who knows how long that will actually be.

I get the free score through my Capital One account, but as you said that isnt FICO

I know of. And remember it's not the main FICO scores on MyFICO (FICO Score 8) that you want to track when buying a home, you want to look at the versions by loan type section and check out the Mortgage FICOs. Mortgage FICO Score 5 is from Equifax, Score 4 is Transunion, and Score 2 is Experian. Those can be drastically different from the FICO score 8 on the main page of your account.

The annoying thing is that MyFICO tracks the three Score 8's daily with updates as they happen, but you can only get the Mortgage Score 5,4, and 2 once per month when your subscription renews.

The 19.99 per month is ABSOLUTELY worth it while in the home buying process. I got to the point with mine where Icould just about artificially increase or decrease my score on demand just from playing with statement dates and either leaving or paying off certain balances before they were reported. The reason I did that was I wanted to have my lender to the hard pull at a specific time when I KNEW what the mortgage scores were. After buying your home you can stop the subscription - Experian's free subscription lets you track your Experian FICO Score 8 for free, and that's more accurate for what lenders use than the VantageScore model used by Credit Karma.

Also keep in mind that if buying a house with a partner the mortgage companies will take the lower of your two mid scores. So if one of you has mortgage FICOs of 755, 788, and 743 and the other has mortgage FICOs of 715, 762, 763 then the score they will use for qualifications and the rate lock sheet would be 755. One person's mid would be 755, the other's would be 762, and 755 is lower. Knowing that can help you target certain things - maybe there's an old collection reporting to one of the bureaus but not the other two for example.


>Were looking for a new home and trying to make sense of it
>all.
>
>Is there anyway to get the FICO with 3 scores more cheapy than
>19.99 a month. Ive looked around and google discount codes,
>but other than the trial that seems to be it. I guess i wont
>need to keep seeing my score after I buy a place--but who
>knows how long that will actually be.
>
>I get the free score through my Capital One account, but as
>you said that isnt FICO

I’m trying to apply for a loan with low interest but strict underwriting standards. Trying to be patient and wait for the right time… but so much flux. How much does cash on hand matter yo underwriting?




>I know of. And remember it's not the main FICO scores on
>MyFICO (FICO Score 8) that you want to track when buying a
>home, you want to look at the versions by loan type section
>and check out the Mortgage FICOs. Mortgage FICO Score 5 is
>from Equifax, Score 4 is Transunion, and Score 2 is Experian.
>Those can be drastically different from the FICO score 8 on
>the main page of your account.
>
>The annoying thing is that MyFICO tracks the three Score 8's
>daily with updates as they happen, but you can only get the
>Mortgage Score 5,4, and 2 once per month when your
>subscription renews.
>
>The 19.99 per month is ABSOLUTELY worth it while in the home
>buying process. I got to the point with mine where Icould
>just about artificially increase or decrease my score on
>demand just from playing with statement dates and either
>leaving or paying off certain balances before they were
>reported. The reason I did that was I wanted to have my lender
>to the hard pull at a specific time when I KNEW what the
>mortgage scores were. After buying your home you can stop the
>subscription - Experian's free subscription lets you track
>your Experian FICO Score 8 for free, and that's more accurate
>for what lenders use than the VantageScore model used by
>Credit Karma.
>
>Also keep in mind that if buying a house with a partner the
>mortgage companies will take the lower of your two mid scores.
>So if one of you has mortgage FICOs of 755, 788, and 743 and
>the other has mortgage FICOs of 715, 762, 763 then the score
>they will use for qualifications and the rate lock sheet would
>be 755. One person's mid would be 755, the other's would be
>762, and 755 is lower. Knowing that can help you target
>certain things - maybe there's an old collection reporting to
>one of the bureaus but not the other two for example.
>
>
>>Were looking for a new home and trying to make sense of it
>>all.
>>
>>Is there anyway to get the FICO with 3 scores more cheapy
>than
>>19.99 a month. Ive looked around and google discount codes,
>>but other than the trial that seems to be it. I guess i wont
>>need to keep seeing my score after I buy a place--but who
>>knows how long that will actually be.
>>
>>I get the free score through my Capital One account, but as
>>you said that isnt FICO
>

of dollars when buying a house.

>I know of. And remember it's not the main FICO scores on
>MyFICO (FICO Score 8) that you want to track when buying a
>home, you want to look at the versions by loan type section
>and check out the Mortgage FICOs. Mortgage FICO Score 5 is
>from Equifax, Score 4 is Transunion, and Score 2 is Experian.
>Those can be drastically different from the FICO score 8 on
>the main page of your account.
>
>The annoying thing is that MyFICO tracks the three Score 8's
>daily with updates as they happen, but you can only get the
>Mortgage Score 5,4, and 2 once per month when your
>subscription renews.
>
>The 19.99 per month is ABSOLUTELY worth it while in the home
>buying process. I got to the point with mine where Icould
>just about artificially increase or decrease my score on
>demand just from playing with statement dates and either
>leaving or paying off certain balances before they were
>reported. The reason I did that was I wanted to have my lender
>to the hard pull at a specific time when I KNEW what the
>mortgage scores were. After buying your home you can stop the
>subscription - Experian's free subscription lets you track
>your Experian FICO Score 8 for free, and that's more accurate
>for what lenders use than the VantageScore model used by
>Credit Karma.
>
>Also keep in mind that if buying a house with a partner the
>mortgage companies will take the lower of your two mid scores.
>So if one of you has mortgage FICOs of 755, 788, and 743 and
>the other has mortgage FICOs of 715, 762, 763 then the score
>they will use for qualifications and the rate lock sheet would
>be 755. One person's mid would be 755, the other's would be
>762, and 755 is lower. Knowing that can help you target
>certain things - maybe there's an old collection reporting to
>one of the bureaus but not the other two for example.
>
>
>>Were looking for a new home and trying to make sense of it
>>all.
>>
>>Is there anyway to get the FICO with 3 scores more cheapy
>than
>>19.99 a month. Ive looked around and google discount codes,
>>but other than the trial that seems to be it. I guess i wont
>>need to keep seeing my score after I buy a place--but who
>>knows how long that will actually be.
>>
>>I get the free score through my Capital One account, but as
>>you said that isnt FICO
>

I paid off my car and EARLY at that. Score dropped noticeably immediately after.

smh

and to think before the 80s we didn't have to deal w/this bs.

>and to think before the 80s we didn't have to deal w/this bs.

We’re waiting to see how much that tanks her score.

Hopefully the joy and gratitude from fully owning her home will outweigh how much her credit score will get hit.

Terrible how fulfilling a loan of that magnitude and being responsible for paying off your debt is seen as a negative.

a house or a car loan.

like someone in here said, your score is all about who can capitalize on your debt

its fukked up and shitty and i hate it so much that i refuse to keep participating in it

fuck my credit score. i don't want to ever buy a house again, i don't want to ever finance a car again. i don't want to rent an apartment from anywhere that wants to check my credit score ever again. fukk that. fuck them points & miles. none of that shit is doing anything for me but making me more of a capitalist consumerist.

and i'm not judging any of you for participating. i'm only talking about me and what feels right for me.

d

say that I did it. It means very little to me when its all said and done. Scoring me on my ability to manage debt when the ultimate goal is to be debt free is asinine.

I came here just to say don't trust services like Credit Karma or true credit but I see folks above are already talking about it.

I am out here thinking I've got Good credit for months/years and when I go to buy a house I discovered I had a car loan from the summer that I thought was auto payment and sending invoices to the wrong address that is dinging and when I say dinging me we are discussing not putting my name on the loan application. This the only late payment I have in YEARS and the impact is huge.

Stay woke.


**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson

"what's a leader if he isn't reluctant"

how many payments were missed.

Cant put your name on the deed?

That is some bull..

Like never was an issue paying it, just never saw the bills and thought it was all good with autopay. There were even a couple of occasions years ago where it had gotten 10 days late (still within grace period) and they would give a courtesy call and I would pay on the spot. Don't know how it got to 70 days without hearing from them or them wanting to come get the car.



**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson

"what's a leader if he isn't reluctant"

We had a similar situation but caught it before too late.
They sent a PAPER invoice and coupon book to the house and I immediately called AND went online an confirmed we were setup for auto withdrawal. Worked out fine for first 6 months or so....then I got comfortable and stopped logging in to the website....
Then we started getting paper invoices again and I had to call every month to confirm they were doing withdrawals AND tell them to stop sending paper invoices in the mail. This was back in 2022....

How about we got a paper invoice AGAIN last month! SMH...

after the first year.

said I had to sign up every year.

hit me with the late fee.

Whole system is designed to put us in a hole intentionally.

Like what reason/benefit is there to make the consumer have to sign up for autopay again every year ? I can't even come up with anything that makes even a lick of sense.

even the score they show is inflated and gives a false sense of hope.

mint was better even though they're both owned by Rocket.

since mint went away and I saw that CK was bullshit, I switched to Empower. it provides everything except a credit score (which I can get from my cards anyway), gives me a better view of my financial health, and does it without the over the top selling of loans or other credit.

I'll be talking to an advisor from them later this week to see where I can do better and maybe retire one day.

I'm pretty sure we talked about it up above, but Credit Karma IS accurate for the type of scores it uses and the bureaus it pulls from. Credit Karma tracks the VantageScore from TransUnion and Equifax.

There are two issues with this though - first it tracks the VantageScore and not a FICO score. Lendors use FICO scores (and see up above, because there are different types of FICOs used by different lenders - mortgage FICO, auto FICO, credit card FICO, etc, and there are different scoring models even within those types. So even if you pay for your FICO scores you need to check the specific scores used for the type of financing you're getting to really know what it is.)

The second problem with Credit Karma is it gives you report data from only TransUnion and Equifax, and not Experian. I'm pretty sure that THIS is what the problem is for you - that car loan you had must have only been reporting to Experian, and not to TransUnion and Equifax. Since Credit Karma is only checking TU and EQ, if a lender only reports to Experian it will have a complete blind spot. I'll mention, all the major lenders and most lenders in general will report to all three bureaus. It's really rare for an auto lender to only report to one - that typically only happens with shady used car lots with super small financing companies that take advantage of people - and based on the autopay/wrong address for the invoice that might have been the case here. The other exception on lenders only reporting to one bureau would be if the lender is new. I remember when I got the Apple Card when it first came out, for the first couple months it didn't report to any bureau at all. Then it was only reporting to one for around 6 months - I believe it was Experian if memory serves me correctly. But by the end of that first year it was reporting to all three.

Depending on your mortgage timeline, I'd bet you can get that late payment removed through disputing, since it's only on one bureau. Also, for mortgages they typically use the middle of your three FICO scores - which means if this is only on your Experian and your TransUnion and Equifax mortgage FICOs are both much higher, you should actually still be in good shape. Go to MyFico.com and get your full FICO score info, and check all three mortgage FICOs to see what your middle score is.

Back to Credit Karma, it's only useful for tracking overall trends. You absolutely need to get your full credit report from all three bureaus at least once per year, and any time you're going to make a major financing purchase it's worth it to pay MyFico to get all of your scores. (Remember, not just the three FICO scores on the main page, but ALL the other types of FICO scores.)

so you don’t look like a bozo when they come back with that credit report.

Be all confident and then have them looking at you like the weak link and shit.

but I’be also been raised to expect the worst while at banks.

What can you do with a Vantage Score ? Nothing

The score itself means nothing. But as your credit changes over time, you can use it to track how it’s trending. For example if you clean up your credit but still have old late payments (which will impact you for 7 years) as those late payments age your score will rise. Same with your average age of accounts. And on a short term basis you can track how your utilization impacts your score.


Again the actual score doesn’t matter. But it’s a free way to track trends. Always buy your real FICO scores before a major purchase. You can also track your real FICO score from Experian for free. But that’s just one of the 3 bureaus, and only one score type. Still helpful for tracking trends along with the VantageScore TU and EQ scores from Credit Karma.

I'll check it out. I use CK but I was not using it the way you described, so I will take another look at it now.

I have Experian and I use it to get that score.

...helped me out tremendously. Went from no credit to getting a good rate on a house in a year.

Biggest lesson was that the credit system isn't a fair system, so treat it accordingly. Shit like always using your credit cards, paying it off every month, keeping it under 25% of your max, taking out a loan, not having too many open lines of credit, etc.

Another article I read back then was a dot-com dude out in Seattle that had close to a million in the bank, but couldn't qualify for a house loan because he didn't have any credit (he was a pay-with-cash only kinda guy). Really drove home the fact that you gotta treat the credit system like a video game and play by the rules of the game if you want to win.

of the month. I keep my accounts open, even if i don't use the credit card(i had to do a couple of transfer balances back in the days). IF i do open a new account for some reason, I may close something else but it'll be the one with the smallest history or credit limit. I always raise my limits when i have the option too.

Biggest blip for me was when my identity was stolen about 20 years. It took 3 years to get everything straight and every once in a blue i get notified about a new account attempt.

My score hovers around 805-815 at this point but once you're above 750 you're good.

take out a reasonable TSP load to consolidate debts and watch your credit score skyrocket....

gotta play the game to stay in the game


"Get ready....for your blessing....."
"Bury me by my Grand-Grand and when you can come follow me"

I got a personal loan for that very reason and numbers went up like crazy.

it's all a stupid game and once you know and are in position to play better, things get easier.

I ended up refinancing the first loan with a 2nd loan that had better interest and ultimately paid shit off quicker.

https://www.nbcnewyork.com/news/national-international/score-dating-app-requires-users-credit-score/5137932/