re: WTF?? My credit score went down 35 points

Credit Scores basically tells banks how much money you're willing to let them bleed you.

That banks have been able to make some people root for it is an all-time hoodwink.

It won’t be 0.

You won’t have a score, but it will never be 0

How far were you into the car payment schedule before you paid it off?

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I paid off my auto loan and my score went down 35 points.

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Wait until you pay off your house. It will drop 70 to 90 points for several months then slowly creep back up.

I have a 849 this very second, but I did have the unicorn one time, but it takes some fairly intentional gaming. I know it's doesn't matter but I'm obsessive and make sure I show 1-3% usage on cards for statement before paying them all off. Recently I paid off entirely before statement and my score dropped 33 pts. 0 balances look like you don't use credit and they want to see that you can use "responsibly"

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Proof that the system is a joke

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Back in 07, I did a debt settlement program. Credit score cratered to 490. Thought my credit score was shot and would take forever to recover. Score was back to 730 in 22 months. The system makes no sense

Who TF cares? Credit agencies should not be legal. So our government entrusts 3 big companies ( there are more) with every tiny piece of our most private information. At its core, that is insane!

And everybody just accepts it and they live their life trying to please Transunion and the Gods of Fico. Nobody even questions it, or gives it a second thought. 99% of people would be shocked at what info of theirs is kept by these companies. And then, think of all the idiots that work there that can access that information.

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Only plebeians care about credit scores.

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No only plebeians think only plebeians care about credit score. Wealthy people very much care because they are using their credit like crazy.

bullshite. As an investor I care about who institutions are lending to and how quality that lending is.

I have two credit cards and a mortgage. I’m around 840. One card is Costco that is only about $150 per month. My other card is around 2k. Both are payed on time. My mortgage at 2.8%. I’ll keep that until I die. It’s paid on auto each month.