- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Is Credit Scoring Inherently Biased?
Posted on 6/23/20 at 6:59 pm to YumYum Sauce
Posted on 6/23/20 at 6:59 pm to YumYum Sauce
quote:
There are things that hurt your credit that shouldn't.
Funny story: Discover card gives you your FICO rating in the bill each month. I've been consistently 850 for a long time now. Then I actually paid off the house, and they dropped the score to ~820... Apparently not having a mortgage anymore makes the score go down!
This post was edited on 6/23/20 at 7:04 pm
4
Posted on 6/23/20 at 7:28 pm to M. A. Ryland
quote:
Funny story: Discover card gives you your FICO rating in the bill each month. I've been consistently 850 for a long time now. Then I actually paid off the house, and they dropped the score to ~820... Apparently not having a mortgage anymore makes the score go down!
I paid off an installment loan once and took a 30 point hit.
Paying your debts apparently = deadbeat.
Posted on 6/23/20 at 9:19 pm to M. A. Ryland
quote:
Funny story: Discover card gives you your FICO rating in the bill each month. I've been consistently 850 for a long time now. Then I actually paid off the house, and they dropped the score to ~820... Apparently not having a mortgage anymore makes the score go down!
They want you to be in perpetual debt. Not having debt is a bad thing to the credit industry.
Posted on 6/23/20 at 9:21 pm to M. A. Ryland
I recently paid cash for a new truck and the same thing happened to me 
I may actually agree slightly with the left about credit scores. Not that mine is bad, but it’s clearly a number system designed to only favor lenders and punishes you for not having debt.
I may actually agree slightly with the left about credit scores. Not that mine is bad, but it’s clearly a number system designed to only favor lenders and punishes you for not having debt.
Posted on 6/23/20 at 11:38 pm to M. A. Ryland
quote:
Funny story: Discover card gives you your FICO rating in the bill each month. I've been consistently 850 for a long time now. Then I actually paid off the house, and they dropped the score to ~820... Apparently not having a mortgage anymore makes the score go down!
I was naive about this years ago and was surprised when my credit score took almost a 30 point drop when I paid off my last student loan. Silly me thought it would go up from tackling such a large number and paying it off well in advance of the terms of the loan.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News