Also, your credit score drops if you pay all your debts
Also, your credit score drops if you pay all your debts
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195 comments
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just paid all credit cards to zero, FICO 8 went up 16 point, FICO 9 went down 15 points 🤷
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Got a new car loan.
20 points up.
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When I was a a young adult, I got a new credit card. The credit check dinged me for 10 points.
When I asked why, and how I can fix it, the credit card company support person said, "Just carry some debt."
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Its a ridiculous system.
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I keep my one credit card paid off to 0 every month, have never paid a car loan, only debt I have is a mortgage, and my score usually just floats around 825.
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Basically the same for me except no mortgage, and I'm also in the 800s.
Though once you're over 750, you're essentially at the highest tier in every lender's eyes already.
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Yep, and I was at that point years before getting a mortgage.
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195 comments