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re: My credit keeps dropping.....
Posted on 3/29/21 at 1:08 pm to UFownstSECsince1950
Posted on 3/29/21 at 1:08 pm to UFownstSECsince1950
I pull FICOs all the time and I have been told it all depends on the timing and it can vary by 20 - 50 points. So don't fret if there is about 20 point difference. For big purchases like a home, it all depends on the loan product, LTV and home value.
0
Posted on 3/29/21 at 3:34 pm to Triple Bogey
quote:
Wait.. What's going on here?
Just checked again and I'm actually 871.25 now.
quote:
new car she got 0.99% interest rate
We got .9 for 48 months.
Posted on 3/29/21 at 3:44 pm to UFownstSECsince1950
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This post was edited on 3/29/21 at 3:49 pm
Posted on 3/29/21 at 5:56 pm to UFownstSECsince1950
quote:
Has always been right at 800, or slightly above
quote:
It still just keeps dropping little by little each month. It’s not terrible yet, but I don’t want it getting down to 700. Any advice?
So whats it at now, and how many months has it taken to get there (from 800ish)?
If you are even close to 700 then something significant has happened to your credit and it will show up on your credit reports.
Pull your reports at annualcreditreport
Posted on 3/29/21 at 7:26 pm to slacker130
quote:
Just checked again and I'm actually 871.25 now.
Pretty cool. Which bureau is that?
Posted on 3/30/21 at 8:56 am to X123F45
quote:Holy shite, all this for a credit rating. Ours is between 790-810 and we do none of that, we don't have any debt except our mortgage and often dont use a credit card for months at a time.
Also, figure out which cards do not require a hard pull to increase your limit.
Request a limit increase every 6 months.
The additional revolving availability will boost your score.
I have four cards now that have higher limits than my yearly salary. Each are only set to auto pay utilities, a bennys membership, or a drift scented air freshener.
I use the amex platinum to pay everything else to farm points/get free product insurance.
My citi black card provides a sub 9% loan up to the limit. Anything under 10k I finance on it and pay off in under 12 months. I pay slightly more in interest but do not have the credit pull or have to move money.
At the very least, try to 50k available in revolving. After five years of constantly requesting bumps, I have... A shocking amount
You need at least one installment account that can be left open for at a minimum of 18 months at any given time.
When I was mortgage free, I used toys. Atvs or side by sides financed at sub 4%. It wasn't ideal, but it kept the score rising. Now with a large land loan, I let it do the heavy lifting.
I went from a ghost a few years ago to where I am now.
ETA: I wanted to add, thr amex platinum has a 3.99 flex pay option for 12 months for other items. I just realized it this morning and will no longer be using the citi card for that purpose.
Are a few points of credit rating worth all that shite?
Posted on 3/30/21 at 11:53 am to VABuckeye
totally agree. I used to be the type trying to see how high a FICO I can possibly get but whats the point? The highest credit tier I seen someone use is 760 so its wasted energy trying to figure out why your score is 790 vs 800. Whats even more fun is leveraging your high score for free money with sign up bonuses. The inquiries and tradelines drops your credit a bit but again who cares if you are already in the top credit tier?
Posted on 3/30/21 at 12:51 pm to UFownstSECsince1950
as dave ramsey says, a credit score is the "i love debt score"
Posted on 3/30/21 at 1:31 pm to DVinBR
quote:
as dave ramsey says, a credit score is the "i love debt score"
What if you have an 800 credit score and no debt? What then?
Posted on 3/30/21 at 1:52 pm to DVinBR
I've never understood the fascination with getting the highest credit score as possible. As long as you over 720 or so, it really does not matter.
Posted on 3/30/21 at 2:05 pm to DVinBR
My best friend follows Dave Ramsey religiously. They sold then purchased a new house. And wanted to get a car about 3 months later. Their credit wasn’t strong/diverse enough to support the car purchase that soon.
Being able to leverage your income and take on good debt is the best way to maximize your wealth. Spend 30 minutes a month on credit karma. It could be as simple as paying your credit card 2 days before it reports. Or requesting a limit increase every 6 months.
Being able to leverage your income and take on good debt is the best way to maximize your wealth. Spend 30 minutes a month on credit karma. It could be as simple as paying your credit card 2 days before it reports. Or requesting a limit increase every 6 months.
Posted on 3/31/21 at 9:02 am to tigerfoot
quote:
Are a few points of credit rating worth all that shite?
What shite
I three cards are set to auto pay and pay out under $50 bucks a month on stupid memberships for services I like.
Everything else is run through my amex.
If anything it makes things easier.
Is it under 10k? Amex.
Is it over 10k? Local credit union or cash.
No more than two credit pulls a year.
Also.... Current amex platinum bonus is unreal when you factor in the 10% back on food and gas.
This post was edited on 3/31/21 at 9:05 am
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