Credit scores make no sense to me. About 4 or 5 years ago, I started getting notices from places when applying for credit that I was not going to receive their best rates because of my credit score.
This puzzled me since i'd never missed a payment. Well, I'd recently bought some stuff from Nebraska furniture mart on one of their ludicrous "36 months no interest financing" or some deal. I was making my minimum payments every month, but even so, just by having several open accounts like that, my score had been dragged down. Which thoroughly confused me. I mean, in order to get good credit, you have to build up a credit history...which means you have to borrow a little bit more, and pay them off timely. Yet, while you go about amassing this credit, doing so actually lowers your score...even as you pay it off timely! I dunno.....i though it was all bullshit. I paid off the TV and the furniture set the next day, and my score shot back up. Stupid. On Thu, Jan 6, 2011 at 3:15 PM, Rick Eidson <[email protected]> wrote: > > I am about a 720 but when I tried to do a Pay later on Paypal I got denied > and it went on my credit report as a hard enquiry and will now lower my > score! I think it's all BS! I worked hard to recover from poor debt > management from almost 20 years ago.. I have even paid two vehicles off in > the last 7 years... > > Rick > > -----Original Message----- > From: Rick Root [mailto:[email protected]] > Sent: Thursday, January 06, 2011 2:13 PM > To: cf-community > Subject: Re: Bank lowers man's credit score after he asked who owned his > mortgage loan. > > > On Wed, Jan 5, 2011 at 10:03 AM, Casey Dougall > <[email protected]> wrote: > > > >> Complete misreporting... > >> > > Exactly! > > Aye! Motion carries. > > Big f'ing deal, so his credit score went from 780 to 740. 740 still > puts him in the top 2-3% and I highly doubt that his insurance went up > because of it. > > I wish my credit was 740 ;) > > Rick > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:332977 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
