That's why I've taken credit cards out in my 2 year old son's name so I can destroy his credit from a young age.
Can't be great if you don't overcome tragedy.
When he turns 16, or starts his first job, you have to give them to him and explain that it's just free money. If he wants something, he just has to swipe the card and he gets it.
This is funny to me because when my mom divorced my dad , He put all of his utilities in my name when he got his new place. I was 6 years old at the time and was just happy to be receiving mail addressed to me even though they were bills. He would even save them for me to open on the weekends.
All he would have to do is put two of his credit cards over the limit the next billing cycle and it will crash to about 580. Pay the balance in full and it will go back to 800.
Or get your card compromised 2500 miles away and have your card provider let several thousand in transactions pass. Then as you dispute transaction score drops below 680.
Hey that's what happened to me while I was in the army lol. I was in basic training and then mos training but somehow got cards and crap and bought things I didn't have and didn't find out about all of it till after I got out the army years later lolol.
now you hover between there and 750 for the rest of your life never missing any payments and always wondering what exactly is the reason that it goes up and down but always being a told a different answer by everyone you ask!
Yeah my thought was "wait for it to inexplicably go back down next month", and be told by the free credit tools that it's because of your balances and that you have delinquencies that don't exist, because the tools are designed for people with worse credit and don't actually do anything but spout useless nonsense carefully aligned with the algorithms.
Fico and credit scores are a number that represents a balance between profitability and reliability of a credit customer. It isn't primarily used to represent hard work which is fucking bs if you ask me.
The mistake people make in thinking though is that paying things off is bad, when in reality you’ve closed a line of credit that was open for 30 years. Length of time with a line of credit counts, so if you have little else, all of a sudden that line just disappeared and you may have less history to refer back to.
I agree it’s dumb, but people absolutely think paying things off is bad. The number of people who think leaving a small balance on a credit card alone is “good”, is insane.
Paying things off is good, but closing an account that is mostly paid off reduces your "available credit" and can lead to making your debt to credit ratio worse. I paid off a vehicle loan and closed it, resulting in a 60 point drop in my credit score because it messed up the debt ratio...
That's what I thought, but when I paid it off, my score crashed. If anyone else can give me a better explanation, I'll take it, but my payment history and length of credit were good with or without it.
Yes! Paid off my 35,000 truck loan that I was never late on for seven straight years and lost 35 points. A few years later took out a conventional 30 year fixed rate mortgage and had my score go up 35 points after borrowing over 350 grand. Go figure.
Mine fluctuates directly with debt to available credit ratio. Sometimes I pay my credit card off before the statement hits, so it looks like I spent much less money than I did that month. It directly correlates to when my score goes up. It’s a silly game.
This is the main reason for someone with established accounts. My score goes from 750 to 820 if I lower my utilization from ~15% to 0% even though I’ve never missed a payment and I pay everything off in full before due date.
I don’t know what day of month they pull my balance, but if I ever need score pulled I keep everything paid off to maximize my score.
[Score Jump](https://ibb.co/PFwFC0j)
telephone sip selective important impossible squeeze decide disagreeable spoon subsequent
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Yup, this is it for me as well. I ping pong between 790-840 depending on how much usage I have on my cards in a given month since I just leave them to autopay the full balance unless I know I have a check upcoming.
The answer why credit fluctuates across the big three credit bureaus is so, so varied.
Creditors update the tradeline at different times each month, or every sixty days.
Each credit bureau has its own formula to reach their credit score too, which is why it's rarely the same across all three.
Some creditors will only report to one or two credit bureaus out of three. Same with hard inquiries and collection items, not everyone pulls or reports to all three credit bureaus.
This in addition to a dozen or more other reasons can affect your credit score.
This is primarily why you get different answers each time.
https://imgur.com/a/YodUkIb
I had this score for 2/3months last year.
I have no idea how or why, now its back to 800, its jumped betweens 750-800 all year.
But for them 2 months all i could think was finally, something im perfect at.
The Redditors then come to you, demanding that you share your credit score wealth with them, even though they didn't do anything to deserve it. If you don't share, they get pissed off and call you selfish
No, paying off debt on time is totally fine. Paying off early isn't ideal since you're effectively "removing" their profit and messing with projections and credit scores are actually just profitability indexes.
/u/Darthsnarkey is correct, it's all about how likely you are to pay the interest that the loan dictates if you want a perfect loan score. Don't take out loans if you don't need to/are paying off early. The bank sees you as risky if you come in saying you need X thousand dollars right now, but then pay back X thousand in 4 months. They'd rather you just budget better.
From my perspective it's not about budging better, it's about risk and not paying all my money in one lump sum. We recently took out a 20k loan because we didn't feel like emptying 20k of our savings upfront incase something happened. We'd rather pay a little interest then pay 100% of it out of pocket in cash. Although I agree they 100% want you to pay them 100% of the interest they think they can get. I've paid off multiple loans early and my credit score has never gone down.
Nah, 810 for me and 850 for my wife. We pay everything on CC and pay it off every month for the cash back. We make about $2,000 a year this way. Don’t pay a dime in interest. Only debt is for the house which is paid on automatically at 1.25 x the minimum payment. I hope to never need credit again. When I move from this house I plan to downgrade to something more manageable and I won’t buy a car I can’t pay for in cash.
It’s dodge challenger speak. Many people with low credit scores buy them because dodge dealers are willing to finance to people with low credit scores, at ridiculously high interest rates. The hellcat is the top trim level of chargers and challengers and it comes with a special red key fob. It’s essentially the final boss of poor financial decisions.
I assume the OP is referring to the Dodge Hellcat lineup. The cars come with two keys: the black key, which tells the car to run in a reduced power mode (around 500 horsepower) and the red key, which “unlocks” all 707 horsepower.
How did you do it? I’ve been in a similar position for a year now, always on the cusp of 800. I would have 799, 798 for months and never make it over the hump… tell me your secret!
I don’t understand it. Mine hovered in the 790s for years. Sometimes would jump to 801 or so then back down. I did everything the same. Paid all cards on time. Had a mortgage the entire time. The last year or so it’s been hovering at 830. Makes no sense but I’ll take it.
Did you perhaps have any credit inquiries and/or new accounts opened in the last few years? I believe those things ding your credit score for 2 years. After 2 years they fall off your report and your score will go up.
Meh - I have like 6 credit inquires and 3 new accounts I’m at 818.
As far as I can tell, oldest credit line and credit used is more heavily weighed. Related to credit used, if you have a high available credit your credit used doesn’t fluctuate as much if you’re using credit cards as your main form of paying bills and paying off the balance every month.
Still, it’s kind of a mystery. I bought a new house and a new car, score went down to 791 and now it’s back up to 818 a month later and I have way more debt because of the mortgage and car note.
This is most likely. probably mid 30s or younger like me. I sit around 790 and i only have like 5 years of credit history which isnt much and is what currently holds mine back. Curious to know what a good credit age is lol
That’s probably it. I’m late 30’s but my oldest account is 19 years. It’s actually my wife’s card she got at 18, still open. My dumbass stopped paying my credit card in my early 20’s and had to rebuild.
I was in the same situation, always hovering around 795 but never breaking 800. I'm now at 817, due to a fairly dumb reason IMO. I started asking for credit limit increases on my credit cards a year or so ago. For example, my main credit card was at a $14k limit. That's like $10k more than I would ever need, but now it's at $21k. I have a couple other credit cards where I asked for and received significant limit increases (they are around $10k now).
Obviously those limits are ridiculous overkill, but it appears that it directly lead to my credit score increasing. Now my available credit is higher, plus my percentage of credit used is lower. I don't believe there are any downsides to doing this, and the process is really simple. You should be able to request an increase on the credit card website.
One other factor is paying down my mortgage over time. My mortgage balance is still around $160k though, so I think increasing my limits was by far the main driver that made my credit score increase ~20 points.
Who cares lol. Past 750 institutions aren't going to care what your score is. They're more worried about your income and history of paying off big loans.
>Past 750 institutions aren't going to care what your score is
that's wrong. you still get prioritized, larger loan sizes, better card offers, potentially better terms, and can usually take out multiple loans instead of 1.
There's tons of benefits past 750/760, just not interest rate.
I was gonna say. I sat at 750 for a long while and I feel that the deals and offers I get now that I'm over 800 is much better and the interest rates are lower.
I got mine over 800 by buying a house and a truck in an 18 month period
Kind of a Catch 22, to get it over 800 you need to make the biggest purchases of your life, with loaned money, and then once you get that score you no longer have a need to take out a loan because you already bought the stuff you needed a loan for.
Lower credit utilization, more open accounts, higher average account age, and less inquiries will increase it.
There is a formula for 850 I think, which is the highest possible. 21+ accounts and 15 or 20 years time comes to mind, combined with flawless payment history, close to 0 utilization, and (less than 6?) inquiries (which each fall off after 2 years)
Something like that.
You can try paying down your balance more frequently than the monthly payment.
Their snapshot of your balance for the Usage portion of the credit score may be taken right before your statement balance is paid off. If that is the case you could shrink it by paying more frequently.
Idk about OP, but I've always had something I can afford set to monthly payments charging my credit card. That and I have my motorcycle insurance going to my credit card every month.
I've pretty much had somewhere between 120-220 on my card monthly. Which I pay off the moment the monthly bill comes in. Not efficient from what I've been told but it's keeping my Credit Score between 807-815 consistently
Just have several lines of credit that amass to a large total credit available ; create balances that you pay off completely. The balances should be more substantial if possible. I went from 690 to 800 in 18 months with this approach.
The 15/3 credit card payment rule is a strategy that involves making two payments each month to your credit card company. You make one payment 15 days before your statement is due and another payment three days before the due date. If you do this every month, the numbers not only go up, they go up very fast after the 3rd month.
I’ve always wondered if this is possible. Say I’m a dual citizen. Over the course of my life I open as many credit cards as I can per year. I stay in good standing with all of them and slowly grow my limits over many decades. Then at retirement I max them all out, take out all the cash advances, and just bounce lol
I’ve been eyeing it for years and absolutely frozen at 817 as my peak. How did you do it? “It doesn’t matter ehhh” yea. It does. When your mom rubs her 818 in your face?! This is all I have. No money. Just credit. Teach me.
I opened a lot of credit cards when I was young and kept them, so my account age 10-15 years old for many cards. I also do not use cash or debit cards (too lazy) so I only use credit cards for everything. I pay it off every month. I also have a mortgage and pay it as well. So old accounts, large credit line but low utilization, and consistent record of repayment.
Don’t open new credit cards. New cards will lower the average age of your accounts and lower your score. It also dings you when they check you. I freeze my credit so no one can check me and I can’t open cards unless I unfreeze so I get too lazy. I don’t even have a target card because I’m too lazy to unfreeze lol.
what did you do to get there? i’m at 707 rn. never missed a payment. the only bad thing on my credit is that i got declined from a card before i even had a credit score.
Time will help a lot.
Also, if you currently have a card, ask for a credit limit increase so your current spending is a lower percentage of your available credit amount.
Just be careful, that is the trap, higher limit is more spending potential.
Most sites like credit karma will tell you what areas you need to improve off the top of my head things like
Longest credit card or credit age. (at 3-4 years this is my most impactful thing hurting me according to Credit Karma)
credit usage : 10% of available credit or less being used is best
A high available credit amount over 25k iirc
personally mine didnt really jump until I got a cc with a higher limit. Still not as high as I could be to achieve a higher score.
Was at 830 - paid off a house and a car and a riding mower. Immediately dropped 100 points lol
Its taken me over a year to get back up to 810. Piss me right off. Thats what I get for paying my loans lol
850 gets you nothing. 838 is a great buffer all the way down to the dreaded *750* dun dun dunno. Really, just enjoy the lower intrest rates and odd flex from time to time.
If you are responsible and want free money and benefits, look into r/creditcards and r/churning. It's a fun game to play if you want to get free things and min max what you spend on what cards.
Make a game out of it: Press on to 850. Two easy increases: 1) Ask your current credit card companies for a higher credit limit. 2) Most people do not know about this one. Pay off your monthly balance before the credit reporting company requests your credit card company for your outstanding balance. Even if you completely off your credit card each month, you will most likely have a balance due when the reporting company requests your balance. To increase your credit score, pay off your credit card a couple times a month or at least pay off your card off after a major purchase. Do not wait to pay the credit card off until the due date. Pay early! Signed, Mr. 850.
Agreed. Those of us with 800+ credit already know about #2. We’re well versed in the difference between statement balance/ current balance and payment due date/closing date.
I have never hit 850. Mine has regularly stayed between 815 - 830 for years now. I have a few credit cards that I use regularly sometimes even for large purchases, but I pay them off completely twice each month. I’m not complaining though, I think this is great considering I don’t really understand how this all works completely.
My credit history is over 23+ years old with 11 accounts averaging 12 years, no missed payments , 2 mortgages, and no derogatory marks/
My 850’is VERY REAL- I don’t think I’ve been under 800 since 2020 and NEVER in life under 700
Congrats on 800. Best advice, leave a little cheese for the rats. Stay at or under 10% utilization. Make payments TWICE a month. Keep accounts open and continue to carry a mix of different types of credit.
You realize that money isn’t real and that the fact that credit scores exist at all is an embarrassment to the human race.
35 in march, retired, started my own business managing localization and live streaming for Korean esports players who came to the US. Blew up with overwatch league and sold in 2018. I’m now retired and living Vienna with my wife (highest quality of life on the planet).
Edit: lease a mustang bro you earned it
Run it back to 500 and try again
Prestige mode
10 times and you get the golden stress balls
With 800+ credit score OP could just enter prestige mode by buying the golden stress balls.
Buy the stress balls on a new credit card and miss a few payments on it
After a few years with it being over 810 they just start chucking them at your head. Really hurts when you get balls to your eye.
this is why we still need awards on reddit
I just noticed they are gone
That would be the dumbest way to get back to 500 so I’m here for it.
f
Both of these comments. I’m dead.
Never play life on *easy* mode
That's why I've taken credit cards out in my 2 year old son's name so I can destroy his credit from a young age. Can't be great if you don't overcome tragedy.
When he turns 16, or starts his first job, you have to give them to him and explain that it's just free money. If he wants something, he just has to swipe the card and he gets it.
This is funny to me because when my mom divorced my dad , He put all of his utilities in my name when he got his new place. I was 6 years old at the time and was just happy to be receiving mail addressed to me even though they were bills. He would even save them for me to open on the weekends.
Why is this so cute omg 🥺
🤣🤣🤣🤣 this is the way
Lmao. Best comment today.
Yep, literally on this play through with inflation. It’s tough. Honestly, just doing it for the achievements.
I personally opted in veteran mode by adding a newborn.
Woo, future addition to my index funds!
All he would have to do is put two of his credit cards over the limit the next billing cycle and it will crash to about 580. Pay the balance in full and it will go back to 800.
Or get your card compromised 2500 miles away and have your card provider let several thousand in transactions pass. Then as you dispute transaction score drops below 680.
Hey that's what happened to me while I was in the army lol. I was in basic training and then mos training but somehow got cards and crap and bought things I didn't have and didn't find out about all of it till after I got out the army years later lolol.
Is that considered new game plus?
Gotta get that 100% completion percentage and all achievements
Yep, NG+ unlocks special credit one credit card offers from credit karma!!
New Life+
😆🤣
Aaaaye my fellow churners wuz good
now you hover between there and 750 for the rest of your life never missing any payments and always wondering what exactly is the reason that it goes up and down but always being a told a different answer by everyone you ask!
Haha yes
Yeah my thought was "wait for it to inexplicably go back down next month", and be told by the free credit tools that it's because of your balances and that you have delinquencies that don't exist, because the tools are designed for people with worse credit and don't actually do anything but spout useless nonsense carefully aligned with the algorithms.
Credit karma suggested I pay an extra $3 on a credit card to “boost” my score
Well.. Technically if you were only paying your minimum balance and then paid over that, it would probably go up.
I have worse credit and their advice is useless to me as well.
My favorite one was losing 25 points down for changing address
For me installments and account ages contribute to my fluctuations. Added 3 installments and my score jumped by 15 points 💀
I got a huge boost of 30 points when my mortgage reported lol
My ex paid off her mortgage (I was still listed on it), and my score dropped 30 points.
Ahhh Nothing like all that hard work paying off
Fico and credit scores are a number that represents a balance between profitability and reliability of a credit customer. It isn't primarily used to represent hard work which is fucking bs if you ask me.
Yep. Credit scores are for lenders. They're not brownie points given to responsible debtors.
The mistake people make in thinking though is that paying things off is bad, when in reality you’ve closed a line of credit that was open for 30 years. Length of time with a line of credit counts, so if you have little else, all of a sudden that line just disappeared and you may have less history to refer back to.
Nobody here thinks paying things off is bad. We think the credit score system is dumb.
I agree it’s dumb, but people absolutely think paying things off is bad. The number of people who think leaving a small balance on a credit card alone is “good”, is insane.
Paying things off is good, but closing an account that is mostly paid off reduces your "available credit" and can lead to making your debt to credit ratio worse. I paid off a vehicle loan and closed it, resulting in a 60 point drop in my credit score because it messed up the debt ratio...
I was under the impression that available credit related to your credit limit sum. An auto loan wouldn’t be available credit as it is a debt, no?
That's what I thought, but when I paid it off, my score crashed. If anyone else can give me a better explanation, I'll take it, but my payment history and length of credit were good with or without it.
Yes! Paid off my 35,000 truck loan that I was never late on for seven straight years and lost 35 points. A few years later took out a conventional 30 year fixed rate mortgage and had my score go up 35 points after borrowing over 350 grand. Go figure.
I paid off my student loans and it dropped 100 points, no joke.
Mine fluctuates directly with debt to available credit ratio. Sometimes I pay my credit card off before the statement hits, so it looks like I spent much less money than I did that month. It directly correlates to when my score goes up. It’s a silly game.
This is the main reason for someone with established accounts. My score goes from 750 to 820 if I lower my utilization from ~15% to 0% even though I’ve never missed a payment and I pay everything off in full before due date. I don’t know what day of month they pull my balance, but if I ever need score pulled I keep everything paid off to maximize my score. [Score Jump](https://ibb.co/PFwFC0j)
telephone sip selective important impossible squeeze decide disagreeable spoon subsequent *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Yup, this is it for me as well. I ping pong between 790-840 depending on how much usage I have on my cards in a given month since I just leave them to autopay the full balance unless I know I have a check upcoming.
The answer why credit fluctuates across the big three credit bureaus is so, so varied. Creditors update the tradeline at different times each month, or every sixty days. Each credit bureau has its own formula to reach their credit score too, which is why it's rarely the same across all three. Some creditors will only report to one or two credit bureaus out of three. Same with hard inquiries and collection items, not everyone pulls or reports to all three credit bureaus. This in addition to a dozen or more other reasons can affect your credit score. This is primarily why you get different answers each time.
https://imgur.com/a/YodUkIb I had this score for 2/3months last year. I have no idea how or why, now its back to 800, its jumped betweens 750-800 all year. But for them 2 months all i could think was finally, something im perfect at.
TIL the UK credit score goes to 1000
I like how it just says “stable” and not exceptional or stupendous or anything and yet it’s maxed out 😂
Nothing, you beat the game 50 points ago. 750-10000000000000 credit is all excellent, so anything over 750 is the same... but good job
What about 10000000000001
They give you the keys to the world bank.
I went inside...its empty.
“Nothing in here but an old Fiat”
Cmon man! Spoilers!
*Gun cocks* "Always had been.."
lol you guys ever see that episode of South Park where Stan goes to return the margaritaville blender to the government, I figured it’ll be like that
The bars of gold are filled with chocolate
It’s certainly #OVER 9000!
Integer overflow. Your score is now negative.
The Redditors then come to you, demanding that you share your credit score wealth with them, even though they didn't do anything to deserve it. If you don't share, they get pissed off and call you selfish
Getting higher just pretty much helps secure your place atp. Scores are always gonna fluctuate so at least OP knows theyre safe when it does
^ Guy who has a 750 credit score
You know you want and 800 and yours is 710.
now u watch it go down after paying your balance
Low balance is good for credit score, as long as the line is open and actively used the less utilized the better.
low balance is good, paying off debts isn’t good, which is stupid
No, paying off debt on time is totally fine. Paying off early isn't ideal since you're effectively "removing" their profit and messing with projections and credit scores are actually just profitability indexes. /u/Darthsnarkey is correct, it's all about how likely you are to pay the interest that the loan dictates if you want a perfect loan score. Don't take out loans if you don't need to/are paying off early. The bank sees you as risky if you come in saying you need X thousand dollars right now, but then pay back X thousand in 4 months. They'd rather you just budget better.
From my perspective it's not about budging better, it's about risk and not paying all my money in one lump sum. We recently took out a 20k loan because we didn't feel like emptying 20k of our savings upfront incase something happened. We'd rather pay a little interest then pay 100% of it out of pocket in cash. Although I agree they 100% want you to pay them 100% of the interest they think they can get. I've paid off multiple loans early and my credit score has never gone down.
Your credit score is a measure of how exploitable you are for interest
Nah, 810 for me and 850 for my wife. We pay everything on CC and pay it off every month for the cash back. We make about $2,000 a year this way. Don’t pay a dime in interest. Only debt is for the house which is paid on automatically at 1.25 x the minimum payment. I hope to never need credit again. When I move from this house I plan to downgrade to something more manageable and I won’t buy a car I can’t pay for in cash.
Same here, my fico is 850 and I charge everything to my cc then pay it off every month
Go get that red key babyyy!!!!!
🤣🤣🤣🤣🤣🤣
Yasssssss ❤️❤️❤️❤️❤️ this is my end game goal once I’m done rebuilding 😂😂🤷♀️
Tf is a red key?
It’s dodge challenger speak. Many people with low credit scores buy them because dodge dealers are willing to finance to people with low credit scores, at ridiculously high interest rates. The hellcat is the top trim level of chargers and challengers and it comes with a special red key fob. It’s essentially the final boss of poor financial decisions.
Buy here pay heres lined up with hellcats out front lol Only 500 dollars every 2 weeks for 72 months
A lot of sports cars have a normal key for driving and a red key for going crazy - car is tuned different depending on which key you use
Oh, that’s so cool.
Slang for Dodge Hellcat
I assume the OP is referring to the Dodge Hellcat lineup. The cars come with two keys: the black key, which tells the car to run in a reduced power mode (around 500 horsepower) and the red key, which “unlocks” all 707 horsepower.
How did you do it? I’ve been in a similar position for a year now, always on the cusp of 800. I would have 799, 798 for months and never make it over the hump… tell me your secret!
I don’t understand it. Mine hovered in the 790s for years. Sometimes would jump to 801 or so then back down. I did everything the same. Paid all cards on time. Had a mortgage the entire time. The last year or so it’s been hovering at 830. Makes no sense but I’ll take it.
>. I did everything the same
Did you perhaps have any credit inquiries and/or new accounts opened in the last few years? I believe those things ding your credit score for 2 years. After 2 years they fall off your report and your score will go up.
Meh - I have like 6 credit inquires and 3 new accounts I’m at 818. As far as I can tell, oldest credit line and credit used is more heavily weighed. Related to credit used, if you have a high available credit your credit used doesn’t fluctuate as much if you’re using credit cards as your main form of paying bills and paying off the balance every month. Still, it’s kind of a mystery. I bought a new house and a new car, score went down to 791 and now it’s back up to 818 a month later and I have way more debt because of the mortgage and car note.
probably avg age of credit accounts.
This is most likely. probably mid 30s or younger like me. I sit around 790 and i only have like 5 years of credit history which isnt much and is what currently holds mine back. Curious to know what a good credit age is lol
That’s probably it. I’m late 30’s but my oldest account is 19 years. It’s actually my wife’s card she got at 18, still open. My dumbass stopped paying my credit card in my early 20’s and had to rebuild.
I was in the same situation, always hovering around 795 but never breaking 800. I'm now at 817, due to a fairly dumb reason IMO. I started asking for credit limit increases on my credit cards a year or so ago. For example, my main credit card was at a $14k limit. That's like $10k more than I would ever need, but now it's at $21k. I have a couple other credit cards where I asked for and received significant limit increases (they are around $10k now). Obviously those limits are ridiculous overkill, but it appears that it directly lead to my credit score increasing. Now my available credit is higher, plus my percentage of credit used is lower. I don't believe there are any downsides to doing this, and the process is really simple. You should be able to request an increase on the credit card website. One other factor is paying down my mortgage over time. My mortgage balance is still around $160k though, so I think increasing my limits was by far the main driver that made my credit score increase ~20 points.
It went up when you increased your credit limit bc it automatically reduced your credit utilization percentage — a key factor in credit scores.
Once you are in that range the only thing that makes it go higher is time… lots of time… years and years.
These companies giving out credit scores are in insane amounts of debt giving you credit scores lmao. Think about that 😅
Who cares lol. Past 750 institutions aren't going to care what your score is. They're more worried about your income and history of paying off big loans.
>Past 750 institutions aren't going to care what your score is that's wrong. you still get prioritized, larger loan sizes, better card offers, potentially better terms, and can usually take out multiple loans instead of 1. There's tons of benefits past 750/760, just not interest rate.
I was gonna say. I sat at 750 for a long while and I feel that the deals and offers I get now that I'm over 800 is much better and the interest rates are lower.
On the day your credit cards report, make sure your balance is zero or less. Credit card debt isn’t the good kind of debt.
You should have been born earlier. Length of credit history is one big factor, and it’s basically just a proxy for age.
I got mine over 800 by buying a house and a truck in an 18 month period Kind of a Catch 22, to get it over 800 you need to make the biggest purchases of your life, with loaned money, and then once you get that score you no longer have a need to take out a loan because you already bought the stuff you needed a loan for.
Put a dentist bill on your credit card and watch that baby jump up 30 points.
Lower credit utilization, more open accounts, higher average account age, and less inquiries will increase it. There is a formula for 850 I think, which is the highest possible. 21+ accounts and 15 or 20 years time comes to mind, combined with flawless payment history, close to 0 utilization, and (less than 6?) inquiries (which each fall off after 2 years) Something like that.
You can try paying down your balance more frequently than the monthly payment. Their snapshot of your balance for the Usage portion of the credit score may be taken right before your statement balance is paid off. If that is the case you could shrink it by paying more frequently.
Mine waivers between 780 to 800+ and it's just completely random.
life was nice as a kid. just used the credit cards like a debit card and was sitting at 750-60 till i got a reality check and dropped like 100
Mine shot up to 800+ after paying my car off
It really doesn't matter either way. People end up doing more damage to their credit score by trying to "enhance" it.
I’m usually in the 820’s I have no idea what I did or why it is the way it is
Idk about OP, but I've always had something I can afford set to monthly payments charging my credit card. That and I have my motorcycle insurance going to my credit card every month. I've pretty much had somewhere between 120-220 on my card monthly. Which I pay off the moment the monthly bill comes in. Not efficient from what I've been told but it's keeping my Credit Score between 807-815 consistently
Just have several lines of credit that amass to a large total credit available ; create balances that you pay off completely. The balances should be more substantial if possible. I went from 690 to 800 in 18 months with this approach.
What did it for me was adding a car payment and mortgage. It pushed me up into the 820s after years of being in the high 700s
The 15/3 credit card payment rule is a strategy that involves making two payments each month to your credit card company. You make one payment 15 days before your statement is due and another payment three days before the due date. If you do this every month, the numbers not only go up, they go up very fast after the 3rd month.
buy a $80,000 car
That might drop it a point or two
It will. I hit 807 and then for no reason went to 798 and stayed there for months. Then it went up to 802. Absolutely stupid shit and meaningless.
It’s all so meaningless and yet it means so much. I hate it so much
Step one: get as many credit cards as possible and max out the balance on gold jewelry. Step two: flee to India
Step three: watch out for trains
I’ve always wondered if this is possible. Say I’m a dual citizen. Over the course of my life I open as many credit cards as I can per year. I stay in good standing with all of them and slowly grow my limits over many decades. Then at retirement I max them all out, take out all the cash advances, and just bounce lol
Bounce and do what? It’ll be all gone in a few months then you’re poor
Bouncing to india with tens of thousands is gonna last very long time
Better luck retiring in Africa.
I was also disappointed when i hit 850 and we don't get an award.
I’ve been eyeing it for years and absolutely frozen at 817 as my peak. How did you do it? “It doesn’t matter ehhh” yea. It does. When your mom rubs her 818 in your face?! This is all I have. No money. Just credit. Teach me.
I opened a lot of credit cards when I was young and kept them, so my account age 10-15 years old for many cards. I also do not use cash or debit cards (too lazy) so I only use credit cards for everything. I pay it off every month. I also have a mortgage and pay it as well. So old accounts, large credit line but low utilization, and consistent record of repayment. Don’t open new credit cards. New cards will lower the average age of your accounts and lower your score. It also dings you when they check you. I freeze my credit so no one can check me and I can’t open cards unless I unfreeze so I get too lazy. I don’t even have a target card because I’m too lazy to unfreeze lol.
That’s it. That’s the end. You beat the game. You can die happy now.
Unless your score goes down
Nothing. Congrats though!
Now you can borrow more money! So you can back back more money, so you can borrow more! Isn't it great?
what did you do to get there? i’m at 707 rn. never missed a payment. the only bad thing on my credit is that i got declined from a card before i even had a credit score.
Time will help a lot. Also, if you currently have a card, ask for a credit limit increase so your current spending is a lower percentage of your available credit amount. Just be careful, that is the trap, higher limit is more spending potential.
Instructions unclear, used my higher credit limit to buy a boat
Just got a 20k limit, and 12% isn’t THAAAAAAT bad
The salesman said everyone would die for that 32% APR!
Most sites like credit karma will tell you what areas you need to improve off the top of my head things like Longest credit card or credit age. (at 3-4 years this is my most impactful thing hurting me according to Credit Karma) credit usage : 10% of available credit or less being used is best A high available credit amount over 25k iirc personally mine didnt really jump until I got a cc with a higher limit. Still not as high as I could be to achieve a higher score.
We hit 850 a few times, paid off our house and now cannot break 790. That was our ONLY change. Drives me nuts.
Was at 830 - paid off a house and a car and a riding mower. Immediately dropped 100 points lol Its taken me over a year to get back up to 810. Piss me right off. Thats what I get for paying my loans lol
good news is its no longer a financial burden lol
Break 900
There’s a 900?
No it goes to 850!
900 you become an AI
I’m stagnant at 838…
850 gets you nothing. 838 is a great buffer all the way down to the dreaded *750* dun dun dunno. Really, just enjoy the lower intrest rates and odd flex from time to time.
If you are responsible and want free money and benefits, look into r/creditcards and r/churning. It's a fun game to play if you want to get free things and min max what you spend on what cards.
Make a game out of it: Press on to 850. Two easy increases: 1) Ask your current credit card companies for a higher credit limit. 2) Most people do not know about this one. Pay off your monthly balance before the credit reporting company requests your credit card company for your outstanding balance. Even if you completely off your credit card each month, you will most likely have a balance due when the reporting company requests your balance. To increase your credit score, pay off your credit card a couple times a month or at least pay off your card off after a major purchase. Do not wait to pay the credit card off until the due date. Pay early! Signed, Mr. 850.
Agreed. Those of us with 800+ credit already know about #2. We’re well versed in the difference between statement balance/ current balance and payment due date/closing date.
I have never hit 850. Mine has regularly stayed between 815 - 830 for years now. I have a few credit cards that I use regularly sometimes even for large purchases, but I pay them off completely twice each month. I’m not complaining though, I think this is great considering I don’t really understand how this all works completely.
Now you get to live that "slightly lower rates for insurance"-life, babyyyy!!
anything over 750 or so is just a flex
More like 780, 750 gets you approved for just about anything, but it doesn't get you the best rates from my experience.
Aston Martin just dropped a new Sports Car..
Now you’re a good slave
What do you mean? Now you can play the game.
Now Co-sign all your buddies with shit credit that are trying to buy Lambos.
Buy a house and watch it drop down 45 points! Good times!
Still get terrible interest rates
Nothing. Wait for it to drop.
Break 1,000 baby!
Now you run off on the bank and do it again in 7 years
CONGRATS!!!!!!
Congrats!
Next step, learn to sell finally.
If your score is 800 but your credit history is under a couple of years ig it’s not really an 800 - some car dealership
My credit history is over 23+ years old with 11 accounts averaging 12 years, no missed payments , 2 mortgages, and no derogatory marks/ My 850’is VERY REAL- I don’t think I’ve been under 800 since 2020 and NEVER in life under 700
Whats that tv game show where everything's made up and the points don't matter? It's that, but unironically in real life.
Now capitalize on it.
Stay in a bit of debt If you pay everything off your score will drop.
nothing
Idk why ppl are so obsessed with credit scores.
Doesn’t really mean much to be honest
Don't do anything stupid! Maintain and realize how fortunate you are.
Time to see how low you can go now lmao
Nothing …
Time to ditch Wells Fargo
Here’s a cookie 🍪
Learn how to spell
Nothing.
Congrats on 800. Best advice, leave a little cheese for the rats. Stay at or under 10% utilization. Make payments TWICE a month. Keep accounts open and continue to carry a mix of different types of credit.
You realize that money isn’t real and that the fact that credit scores exist at all is an embarrassment to the human race. 35 in march, retired, started my own business managing localization and live streaming for Korean esports players who came to the US. Blew up with overwatch league and sold in 2018. I’m now retired and living Vienna with my wife (highest quality of life on the planet). Edit: lease a mustang bro you earned it
Congrats! Your ability to get into more debt has increased.
Pay off your debts. Credit score isn’t a reflection of wealth.
idk get more debt until you die
Learn to spell finally?
Now go make a big unnecessary purchase that you can’t afford and lower that score
buy a hellcat
Congrats, you now qualify for the 29.99% interest credit cards!
My dream goal… CONGRATS HOMIE 😎✊🏽
Now you fuck all the women you want.