Quote:
Originally Posted by Bewbies
Credit Karma scoring isn't even remotely accurate. So don't worry about that.
Your score does move though when you pay off an account. It's no longer an active credit line so it factors into scoring less.
The people I see who have the highest credit scores typically have a couple of credit cards they've had forever (with no balance) and then lots of old accounts they've paid off.
I'm a mortgage broker so I see credit reports every day. I would tell you it's a lot smarter to worry about your portfolio and assets and to spend less time thinking about how to get lower interest rates when you borrow hoping to please some ridiculous algorithm.
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I'm not really worried about it. The car is paid for, the house and acreage is paid. I have some old debt from my divorce because I didn't want to lose the land. I'm not really planning on buying anything big anytime soon, but I just was shocked to see that kind of hit when I checked it. I'll never be rich, but I'll own my crap and I'll have retirement funds ready to go when I hit 58 (that rule of 85 is kinda sweet)