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07-26-2016, 09:57 AM | #2 |
Starter
Join Date: Jul 2013
Location: Pensacola, FL
Casino cash: $10004935
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It changes your utilization. 30% of your credit is factored in with how much you owe and how much credit you are using. It's the stupidest thing ever. Then entire credit system is broken and takes way to long to recover from something.
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Posts: 75
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07-26-2016, 09:58 AM | #3 |
Veteran
Join Date: Sep 2004
Location: Kansas City
Casino cash: $4403183
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A quick Google search tells me that this is normal. Closed accounts (even paid in full ones) lower your score. It is stupid, I agree, but that is how it works.
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Posts: 2,768
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07-26-2016, 10:00 AM | #4 |
Starter
Join Date: Oct 2012
Casino cash: $10010931
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That's nuts.
I get the idea of the account closing, etc. But Jesus. Its a car loan, they should be able to close it with an "atta boy" for being early. ****ing tanking my credit score for working ahead is the dumbest shit.
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Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote. -Benjamin Franklin |
Posts: 416
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07-26-2016, 10:01 AM | #5 |
Most Valuable Villain
Join Date: Dec 2006
Casino cash: $2995047
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Posts: 92,204
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07-26-2016, 10:06 AM | #6 |
Space Cadet and Aczabel
Join Date: Aug 2000
Location: Kanab, UT, USA
Casino cash: $9333275
VARSITY
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Don't borrow money and it doesn't matter.
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Thanks, Trump for the civics lesson. We are learning so much about RICO, espionage, sedition, impeachment, the 25th Amendment, order of succession, nepotism, separation of powers, 1st Amendment, obstruction of justice, the emoluments clause, conflicts of interest, collusion, sanctions, oligarchs, money laundering and so much more. |
Posts: 40,584
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07-26-2016, 10:08 AM | #7 |
In BB I trust
Join Date: May 2003
Location: Boston, Mass.
Casino cash: $10029808
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I'm not a credit score expert by any means, but I always kind of thought of it this way:
-- WE think the score should reflect how credit-worthy a person is. Are they a reliable payer? Do they satisfy their obligations? Can they manage money well? -- the credit score industry is actually set up to tell banks if you are a GOOD BORROWER, which means that you won't default on the loan, are a good credit risk, and -- importantly to them -- THEY MAKE EVERY ****ING DIME THEY ARE SUPPOSED TO MAKE OFF YOUR ASS. So you close an account early, that's BAD, because the BANK DIDN'T GET ALL THOSE EXTRA MONTHS OF INTEREST PAYMENTS. Now, I may be completely off base here, but that is how I **think** ti works, kinda sorta. Can someone enlighten us on whether I'm anywhere close to right?
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"I love signature blocks on the Internet. I get to put whatever the hell I want in quotes, pick a pretend author, and bang, it's like he really said it." George Washington |
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07-26-2016, 10:10 AM | #8 |
Starter
Join Date: Oct 2012
Casino cash: $10010931
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My wife would not like me having a sugar momma, so....
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Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote. -Benjamin Franklin |
Posts: 416
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07-26-2016, 10:13 AM | #9 | |
Starter
Join Date: Oct 2012
Casino cash: $10010931
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Quote:
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Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote. -Benjamin Franklin |
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Posts: 416
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07-26-2016, 10:23 AM | #10 |
Starter
Join Date: Aug 2013
Location: Texas
Casino cash: $6556461
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Open a credit card and get your ratio back. I always pay credit card in full each month and it keeps my score pretty high.
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Posts: 424
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07-26-2016, 11:13 AM | #11 |
Immanentize The Eschaton
Join Date: Oct 2002
Location: In Partibus Infidelium
Casino cash: $2115880
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Could be because Credit Karma switched to a much more volatile system somewhat recently. I have seen my score waver significantly for what I consider to be very trivial reasons. The good thing, though, is that your score also tends to spring back quickly. If your credit card company (or bank account) offers a free FICO score then check that often. Those tend to be less volatile even though they are probably using the same system or one that is very similar.
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Posts: 55,963
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07-26-2016, 11:14 AM | #12 | |
Immanentize The Eschaton
Join Date: Oct 2002
Location: In Partibus Infidelium
Casino cash: $2115880
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Quote:
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Posts: 55,963
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07-26-2016, 11:18 AM | #13 |
Shit
Join Date: Jun 2008
Casino cash: $10039067
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It's ****ing dumb
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Posts: 55,715
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07-26-2016, 11:18 AM | #14 |
I’m a Mahomo!
Join Date: Aug 2004
Location: Mid-Missouri
Casino cash: $6771021
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Credit Karma
It probably increased your debt ratio.
Never close an account due to this fact.
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Posts: 54,038
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07-26-2016, 11:27 AM | #15 |
Shit
Join Date: Jun 2008
Casino cash: $10039067
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