Poll of the Day > Credit score

(+) Yeah! (+)

We all know unless you have deep pockets, the only to purchase big ticket items is via credit or buying on time so with that said how would you rate your credit score.

Very good, but probably not as good as gay Superman's.

Good

I'm gonna have to wait until like 2026-2028 for one of my late payments on student loans to come off the thing (didn't realize forbearance was over), takes like 7 years to get removed and it happened in 2019/early 2020 or so. I should've set up income based repayment immediately. Luckily I only have like 2400 in student loans.

My credit score was 830, then I started paying off loans fully and it tanked. Total scam.

Yellow posted...

My credit score was 830, then I started paying off loans fully and it tanked. Total scam.

Yep. "We won't let you take on this debt unless you already have some debt but not too much debt just enough debt that somebody else already owns you but they aren't losing money on you and then we'll want a piece of that." It's not a measure of how well you can handle debt, it's a measure of how much profit a lender can make off of you while putting in zero effort.

Should still be stellar. I don't check it, but the people that have tell me mine is great. I've paid off all loans early and never carry a balance on my credit card despite them raising my limit twice.

that don't exist or matter in my country? only proof of salary and assets matter here when it comes to loans and creditlines.

It keeps hovering between upper 790's and low 800's.

adjl posted... Yep. "We won't let you take on this debt unless you already have some debt but not too much debt just enough debt that somebody else already owns you but they aren't losing money on you and then we'll want a piece of that." It's not a measure of how well you can handle debt, it's a measure of how much profit a lender can make off of you while putting in zero effort.

I pay my credit cards off in full each month and have almost never had a recurring debt longer than a month (once I have my house, that'll change) and my credit score has been 700+ for at least a decade now.
I legit never get these arguments. It's patently false. I've even had to talk people into paying off their credit card balances (that carry massive interest rates) that they were intentionally leaving in debt b/c they thought it "helps my credit score". And guess what? Their credit scores were just fine afterwards, too.
Propagating this as "common wisdom" is downright harmful.

Carrying credit card debt for the sake of your credit score is a bad idea, given the high interest rate and the fact that carrying a credit card balance often actually hurts your score, but there are countless stories of people's credit scores dropping suddenly after paying off student loans, car loans, or other long-term debts. That's not to say you can't have a good credit score without long-term debt, but freeing yourself from long-term debt (especially early) often does have a negative impact.

adjl posted...

Carrying credit card debt for the sake of your credit score is a bad idea, given the high interest rate and the fact that carrying a credit card balance often actually hurts your score, but there are countless stories of people's credit scores dropping suddenly after paying off student loans, car loans, or other long-term debts. That's not to say you can't have a good credit score without long-term debt, but freeing yourself from long-term debt (especially early) often does have a negative impact.

I wonder when things are being checked. Last i heard, it takes like 3 months for credit to update, so if you check immediately after payments, it's not gonna show the effect

I think it's 0 (which is probably not a good thing, nor terrible). I've only ever used debit cards

American: 780 last I checked

UK: 564 woo. just got my first credit card and it should go up once my voter registration (I can vote in Scottish elections) is processed too

It's like 500-something but I don't care cause I just pay cash for any major purchases. All because I got a credit card at 18 (which was half my life ago). The credit industry never forgets.

700, I'm expecting it to go up dramatically in a couple months when my bankruptcy finally falls off after 10 years.

I haven't checked in years, so no idea. The thing that usually hurts me is I tend to buy things outright rather than take loans.

Mine's pretty good but I don't know the exact number.

That said I'm on the tail end of my mortgage so it doesn't really matter anymore. I have no intention to ever borrow money again.

Zangulus posted...

Mah credit is shit.

should have gone to free credit report dot com

I think it was somewhere around 825-830 last I checked.