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08-28-2017, 12:30 PM | #1 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $516899
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You're still a choad for arguing with me years ago that exactly what you're currently doing was a bad idea.
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Posts: 52,332
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08-28-2017, 01:05 PM | #2 |
MVP
Join Date: Oct 2011
Location: Chandler AZ
Casino cash: $1751004
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I'm not going to read through all the responses to see if anyone has mentioned this, so sorry if this is duplicate info. I used to be a commercial and residential mortgage underwriter, so I dealt with credit extensively.
Credit cards report to the 3 credit bureaus (Trans Union, Equifax, & Experian) once a month minimum. It doesn't matter to them if you pay your card off every month, it only matters what your revolving credit-to-credit-limit ratio is on the day your info is reported. ****ed up, but that's how it is. In other words even if you pay your revolving balance(s) in full each month, if your cc balance on the day your cc company reports to the bureaus is $3K, and your cc limit is $4K, to the credit bureaus you're utilizing 75% of your available credit. That will smash your score, you need to always keep your revolving credit utilization ratio under 30% if you want a score over 750. It will definitely knock someone like you (who should be somewhere between 775-800+ if the info you laid out is accurate) down to the mid-600s. Even if you pay it off in full at the end of the month, to the credit bureaus, it only matters what your balance/credit limit is on the day your card reports to them. You need to increase the credit limit on the card you have or open an additional card(s), whether you plan to use the additional credit or not. I always keep my credit limits as high as possible for precisely this reason, even though I never use the credit. To verify this is what is hurting your score, pay your cc balance in full, then don't use the card again for at least a month-and-a-half. Then check your score, it should improve dramatically. |
Posts: 13,578
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08-29-2017, 07:02 PM | #3 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1261110
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I never heard that it was that low. I know someone at Experian and they say anything under 60-70% is fine.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ "The men who drafted Patrick Mahomes" |
Posts: 52,075
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08-31-2017, 09:20 AM |
TribalElder |
This message has been deleted by TribalElder.
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04-15-2018, 09:55 AM | #5 |
Molôn Labé
Join Date: Sep 2001
Location: North Carolina
Casino cash: $8566872
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Another year has passed, 5 years since I started this quest and not much has changed... Don't think I will ever be able to achieve the perfect 850 score have about 50k of available credit on the cards, use less than 1% of my available credit and still have no debt... Think I have peaked and doubt it will go any higher....
so let me have it you 500 credit score trolls |
Posts: 23,166
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04-15-2018, 09:58 AM | #6 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $421900
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I sit with same score as you.
But I froze our credit last year (thanks data breach!) and won't be taking a loan out for anything in the near future hopefully.
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2024 Royals game thread record 3-0 |
Posts: 46,066
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04-15-2018, 10:01 AM | #7 |
Molôn Labé
Join Date: Sep 2001
Location: North Carolina
Casino cash: $8566872
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Posts: 23,166
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04-15-2018, 10:14 AM | #8 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $421900
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No mines anyways been high. My wife’s wasn’t 5 years ago. She sits near 800 now though too.
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2024 Royals game thread record 3-0 |
Posts: 46,066
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04-15-2018, 10:23 AM | #9 |
Molôn Labé
Join Date: Sep 2001
Location: North Carolina
Casino cash: $8566872
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Posts: 23,166
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08-21-2021, 03:15 PM | #10 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $421900
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0% financing a new car today.
My credit score is 833. Why not take a no interest loan?! **** you R8ers Ramsey!!! |
Posts: 46,066
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08-21-2021, 04:02 PM | #11 |
Veteran
Join Date: Jan 2006
Location: Kansas City, MO
Casino cash: $6268777
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Posts: 2,447
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1 0 |
08-21-2021, 05:18 PM | #12 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $421900
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Posts: 46,066
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08-21-2021, 06:06 PM | #13 |
Veteran
Join Date: Jan 2006
Location: Kansas City, MO
Casino cash: $6268777
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Posts: 2,447
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08-21-2021, 05:04 PM | #14 |
Mammoth penis
Join Date: May 2006
Location: Springfield
Casino cash: $7264386
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Posts: 11,432
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08-21-2021, 05:11 PM | #15 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $516899
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Posts: 52,332
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