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Message
re: Credit score frickery.
Posted on 8/27/25 at 4:55 pm to bayoubengals88
Posted on 8/27/25 at 4:55 pm to bayoubengals88
IMO, highest credit score is indication you are not effectively building your wealth.
Need to utilize other people’s money better.
800+ credit score is not best news if measuring wealth building apparatus.
quote:
1) The likelihood you'll borrow money and 2) The likelihood you'll pay back what's borrowed. You've proven you're not a good mark because you "underutilize debt" ie paying off your mortgage. If you actually care to make it higher (not sure I would), your best bet is to open some revolving credit and utilize it.
Need to utilize other people’s money better.
800+ credit score is not best news if measuring wealth building apparatus.
0
Posted on 8/27/25 at 6:39 pm to bhtigerfan
Credit scores have zero to do with how much you make.
Posted on 8/27/25 at 6:53 pm to MSTiger33
quote:
I would kill for a $2k/month credit card bill
Would mean my wife had died. That's the only way.
Posted on 8/27/25 at 7:33 pm to xBirdx
quote:
Credit scores have zero to do with how much you make.
Yeah, it's payment history, length of credit history, revolving utilization, number of open accounts, recent credit inquiries. You can make 40k and have an 825 credit score.
Posted on 8/28/25 at 4:42 am to bhtigerfan
Mine has dropped to 823ish from 830ish...they do what they gotta do and I'll do me
Posted on 8/28/25 at 5:38 am to AaronDeTiger
quote:
low to no credit utilization hurts the score.
Or too much, I had some unexpected expenses (sick dog) a few months back that I put on a card.
Noticed my score dropped 25 pts because my utilization went over 35%.
Posted on 8/28/25 at 7:46 am to bhtigerfan
Income doesn't matter. Autopay on "bills" doesn't matter.
What they are looking for:
1. (Average) Length of credit history (this is why you never close your oldest revolving account if you're trying to maintain/improve a credit score) - ideally your average credit account is 60+ months. This is why opening a new account can immediately drop your score.
2. On time payments
3. No recent defaults/bankruptcies
4. Utilization rate (the lower a percentage of your available credit used, the better, the magic number is about 10% or less)
5. Few, if any, recent credit applications
I'm not sure anything else can really impact your score in any meaningful way. Income is only important for a lender to determine if your DTI is low enough to extend further credit, but is not directly calculated into your score. The score rates your general creditworthiness.
Hope this helps.
What they are looking for:
1. (Average) Length of credit history (this is why you never close your oldest revolving account if you're trying to maintain/improve a credit score) - ideally your average credit account is 60+ months. This is why opening a new account can immediately drop your score.
2. On time payments
3. No recent defaults/bankruptcies
4. Utilization rate (the lower a percentage of your available credit used, the better, the magic number is about 10% or less)
5. Few, if any, recent credit applications
I'm not sure anything else can really impact your score in any meaningful way. Income is only important for a lender to determine if your DTI is low enough to extend further credit, but is not directly calculated into your score. The score rates your general creditworthiness.
Hope this helps.
Posted on 8/28/25 at 7:48 am to AaronDeTiger
quote:
low to no credit utilization hurts the score.
ETA: meant installment credit.
Explain what you mean here - low utilization % is key to a good score.
(ETA: I think I get your point - some score elements for "diversity" of accounts - I'm not sure that is as significant as even the recent credit pulls, but I think it has some weight.)
This post was edited on 8/28/25 at 7:51 am
Posted on 8/28/25 at 9:17 am to AaronDeTiger
quote:
low to no credit utilization hurts the score.
ETA: meant installment credit.
Which is retarded. As in, only someone who literally has an IQ below 80 would think someone who paid off a loan as agreed is a deadbeat.
Mortgages or other installments should be a decaying memory instead of docking the borrower for paying.
Posted on 8/28/25 at 9:21 am to Bestbank Tiger
quote:
Which is retarded. As in, only someone who literally has an IQ below 80 would think someone who paid off a loan as agreed is a deadbeat
Paying off the loan early hurts the financier. They’re in the business of making money
Posted on 8/28/25 at 9:57 am to bhtigerfan
quote:
My income has basically quadrupled in the last two years and no improvement in my scores.
If this is the case why are you worried about your credit score?
Posted on 8/28/25 at 1:21 pm to bhtigerfan
quote:
have gone between high 600’s and low 700’s since then.
Credit drops some after paying off loans, but that's a really big drop after paying something off. Plus it should have stabilized back up to the upper 700s,
There has to be something else missing.
Posted on 8/28/25 at 2:02 pm to BigBinBR
quote:this. The story in the OP doesn't add up.
Credit drops some after paying off loans, but that's a really big drop after paying something off. Plus it should have stabilized back up to the upper 700s,
There has to be something else missing.
You can't go from 810 to 600s just by doing what the OP said
This post was edited on 8/28/25 at 2:04 pm
Posted on 8/31/25 at 11:52 pm to bhtigerfan
Your credit score is nothing but a ranking of how good you are at being in debt.
You have to keep borrowing money and paying it back to be good at it.
Which is why it’s a scam.
If you have everything paid for and don’t need anything else, what’s the point of going into debt just to satisfy some banker?
You have to keep borrowing money and paying it back to be good at it.
Which is why it’s a scam.
If you have everything paid for and don’t need anything else, what’s the point of going into debt just to satisfy some banker?
This post was edited on 8/31/25 at 11:54 pm
Posted on 9/1/25 at 10:37 am to Deuces
quote:
Your credit score is nothing but a ranking of how good you are at being in debt.
You have to keep borrowing money and paying it back to be good at it.
Which is why it’s a scam.
If you have everything paid for and don’t need anything else, what’s the point of going into debt just to satisfy some banker?
Bingo we have a winner.
You are 1000000000% correct sir
Posted on 9/1/25 at 5:45 pm to bhtigerfan
Get a couple credit cards use them for everything pay them off every month. Get a couple with good rewards. That's what we do my score stays between 800-830. Making a ton of extra payments on my mortgage is pointless to me you never really own your house anyway if you don't believe me stop paying taxes on it. Credit not being utilized is almost as bad as high dti ratio. Use it pay it off every month and you will be golden and ask for credit limit raises every time it's available.
This post was edited on 9/1/25 at 5:46 pm
Posted on 9/4/25 at 7:16 am to bhtigerfan
I agree with everything said
I keep a couple credit cards but never use them as actual credit.
I have one with high limit and run about 5-10% of the limit through there for recurring bills and high cash back items that are relatively predictable to budget. Also use it for any online transactions to avoid my debit getting ransacked. Never buy anything I do t have the money for already on it. Pay it off 100% on time each month.
I keep a couple credit cards but never use them as actual credit.
I have one with high limit and run about 5-10% of the limit through there for recurring bills and high cash back items that are relatively predictable to budget. Also use it for any online transactions to avoid my debit getting ransacked. Never buy anything I do t have the money for already on it. Pay it off 100% on time each month.
Posted on 12/19/25 at 7:17 am to bhtigerfan
I had something similar happen a while back, and it drove me crazy trying to figure out what caused the score drop. Turned out a small credit card I didn’t use got closed, which lowered my available credit. What helped me bounce back was a second chance loan—it reported timely payments and helped push my score up again.
This post was edited on 12/24/25 at 7:34 am
Posted on 12/19/25 at 8:51 am to bhtigerfan
quote:
Back in 2020 my credit score was 810. Paid off our mortgage and my truck within a month of each other. My credit score dropped to low 700’s
Seems a little excessive but your score will drop when you finish paying off a car or home mortgage
Your score is generally rewarded for leverage and ongoing debt payments. No debt therefore is a sign of good financial acumen but lowers your score
Posted on 12/19/25 at 2:29 pm to bhtigerfan
Here’s my question. Why do you care?
Based on your OP…Unless you are looking to take out loans for real estate purchases, or a business, your credit score is irrelevant.
Your house is paid off. Your cars are paid off. My advice would be to not purchase another house or vehicle until you can do so in cash. Given that you aren’t making payments every month, you probably can save up to do that.
I’m not anti-debt in a Dave Ramsey way, but you are in a position where it’s probably unnecessary for you to access it.
Based on your OP…Unless you are looking to take out loans for real estate purchases, or a business, your credit score is irrelevant.
Your house is paid off. Your cars are paid off. My advice would be to not purchase another house or vehicle until you can do so in cash. Given that you aren’t making payments every month, you probably can save up to do that.
I’m not anti-debt in a Dave Ramsey way, but you are in a position where it’s probably unnecessary for you to access it.
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