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Old 09-18-2014, 11:31 AM   #1
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Originally Posted by loochy View Post
you get credit by having lines of credit open. having a larger credit to debt ratio is better.
Actually, this is 100% false. The higher your credit usage is--i.e., ratio of credit used to credit available--the lower your credit score is. If you have $50,000 in available credit and have a revolving balance of around $25K, you're going to get dinged pretty hard for having 50% credit usage. The lower your credit usage ratio is, the higher your credit score.

Sounds like the original poster is getting screwed. I underwrote residential and commercial loans for years, and if the scenario the OP laid out is accurate, his FICO should be in the high 700's to low 800's. I would recommend ordering a full tri-merge credit report which shows all 3 scores. Maybe one of the 3 credit bureaus--Experian, Equifax, or TransUnion--has erroneous info. Make sure to look at all pages of the credit report, including the Public Records section, which shows any past or outstanding liens and/or judgements.

Unfortunately the credit bureaus intentionally make it almost impossible to contact them and review things that may be impacting your credit score negatively. Just another in a long line of banking/finance-related scams that Wall Street and its minions use to screw the average hard-working person.
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Old 09-18-2014, 11:33 AM   #2
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Quote:
Originally Posted by JohnnyHammersticks View Post
Actually, this is 100% false. The higher your credit usage is--i.e., ratio of credit used to credit available--the lower your credit score is. If you have $50,000 in available credit and have a revolving balance of around $25K, you're going to get dinged pretty hard for having 50% credit usage. The lower your credit usage ratio is, the higher your credit score.

Sounds like the original poster is getting screwed. I underwrote residential and commercial loans for years, and if the scenario the OP laid out is accurate, his FICO should be in the high 700's to low 800's. I would recommend ordering a full tri-merge credit report which shows all 3 scores. Maybe one of the 3 credit bureaus--Experian, Equifax, or TransUnion--has erroneous info. Make sure to look at all pages of the credit report, including the Public Records section, which shows any past or outstanding liens and/or judgements.

Unfortunately the credit bureaus intentionally make it almost impossible to contact them and review things that may be impacting your credit score negatively. Just another in a long line of banking/finance-related scams that Wall Street and its minions use to screw the average hard-working person.
Wait what?

Having 100k credit limit and only using 1k is worse than having 100k credit limit and using 75k?
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Old 09-18-2014, 12:23 PM   #3
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Originally Posted by loochy View Post
Wait what?



Having 100k credit limit and only using 1k is worse than having 100k credit limit and using 75k?

I read it as the opposite..
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Old 09-18-2014, 04:28 PM   #4
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Originally Posted by loochy View Post
Wait what?

Having 100k credit limit and only using 1k is worse than having 100k credit limit and using 75k?
No he said it right but you have it backwards in your mind. 100k with 1k used results in higher credit score than the other option. You want to use the least percentage of your available credit. Those who use near all their available credit have crappy scores.
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Old 09-18-2014, 04:37 PM   #5
loochy loochy is online now
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No he said it right but you have it backwards in your mind. 100k with 1k used results in higher credit score than the other option. You want to use the least percentage of your available credit. Those who use near all their available credit have crappy scores.
Thats what i said in the very first post he commented on but he told me i was 100% wrong

high credit to debt ratio

credit 100000000000 debt 5 = high credit to debt ratio

I did NOT say high debt to credit ratio
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Old 09-18-2014, 04:49 PM   #6
JohnnyHammersticks JohnnyHammersticks is online now
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Originally Posted by loochy View Post
Wait what?

Having 100k credit limit and only using 1k is worse than having 100k credit limit and using 75k?
Sorry!! You were 100% correct, not false. I misread your post as if you were saying the opposite. We're in total agreement. My bad.
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Old 09-18-2014, 04:55 PM   #7
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Sorry!! You were 100% correct, not false. I misread your post as if you were saying the opposite. We're in total agreement. My bad.
Ha ha ok. You had me really confused... I was like "WTF man, why would they want you to use up all of your credit?
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Old 04-02-2013, 02:15 PM   #8
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The more you have open and current the better I guess. The logic doesn't make sense to me either.
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Old 04-02-2013, 02:24 PM   #9
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The more you have open and current the better I guess. The logic doesn't make sense to me either.
That's what they told me, and I have a 799 credit score, also have a 12 inch penis, and I run a 4.3 fourty. #comeatmebro
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Old 04-02-2013, 02:16 PM   #10
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You won't get turned down for a cell phone if you went to get one. They'd ask you for a cash deposit. And I'm pretty sure that with a credit score in the mid 600s....they won't even require one of those.
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Old 04-02-2013, 02:16 PM   #11
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Credit report is a fraud. In order to get credit you have to create dept to pay off in time. When you have everything paid off and don't generate more credit debt then you just stay the same. It's ****ing dumb. Kids out of high school have to earn credit to start out in life and that meens they have to create debt to have credit. This is how I see it.
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Old 04-02-2013, 07:28 PM   #12
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Credit report is a fraud. In order to get credit you have to create dept to pay off in time. When you have everything paid off and don't generate more credit debt then you just stay the same. It's ****ing dumb. Kids out of high school have to earn credit to start out in life and that meens they have to create debt to have credit. This is how I see it.
Biggest scam in history.

You can't credit unless you don't need it.

The OP sounds like he doesn't need it.

**** it leave it the way it is.

Get an Amex with no limit for emergencies and you are golden.
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Old 04-02-2013, 07:31 PM   #13
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Originally Posted by houstonwhodat View Post
Biggest scam in history.

You can't credit unless you don't need it.

The OP sounds like he doesn't need it.

**** it leave it the way it is.

Get an Amex with no limit for emergencies and you are golden.
Why not save for Emergencies and quit playing the Bank's game

I know its hard for people to live within their means -but at some point you'll get sick of money coming in with all of it going to the bank..
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Old 04-02-2013, 08:11 PM   #14
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Why not save for Emergencies and quit playing the Bank's game

I know its hard for people to live within their means -but at some point you'll get sick of money coming in with all of it going to the bank..

I say it's OK to get a credit card with a very high limit for emergencies for when you are traveling and stuff.

Just don't have a balance.

Keep paying everything in cash.

**** these banks, they don't care about you.

You're just a revenue stream to them.
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Old 04-02-2013, 08:18 PM   #15
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I say it's OK to get a credit card with a very high limit for emergencies for when you are traveling and stuff.

Just don't have a balance.

Keep paying everything in cash.

**** these banks, they don't care about you.

You're just a revenue stream to them.
I don't pay for anything in cash unless I have to. Get at least 2% back on everything (5% on most), never paid a cent in credit card interest.
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