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EDGEMAN
Joined: 01/05/2001
Posts: 168,772
Likes: 91,004
EDGEMAN
Subscriber

I think they like seeing you "borrow money," then pay it off.

Scores seem to go down when you stop borrowing and paying back. (Borrowing includes credit cards.)
Posted: 04/01/2025 at 04:22 PM ET
(In response to this post by section11hokie)

Thread Replies (19)

Full Thread →
My wife and I have had all of our financial accounts merged for about 20
Late 80s Hokie • 04/01/25 03:50 PM ET
I read somewhere awhile back that when comparing apples to apples
VTENGR • 04/02/25 11:50 AM ET
It's all a scam ... pay off big car loan +2, charge $1k for a month -5
WestyHokie • 04/02/25 11:49 AM ET
I used to be a head of retail credit
VT48uva0 • 04/01/25 07:49 PM ET
The secret credit card you use at shady gentleman clubs?**
HwoodHokie • 04/01/25 07:06 PM ET
Those are pretty secure. I feel good about my Ashley Madison account.
HokieGator • 04/01/25 07:51 PM ET
You're suspect.**
MikeVT85 • 04/01/25 04:19 PM ET
the rub I have about credit reports.
section11hokie • 04/01/25 04:02 PM ET
**Delete**
VTENGR • 04/02/25 11:48 AM ET
Did you CANCEL the accounts you paid off? That actually works against you>
HOKIERIT • 04/01/25 07:02 PM ET
I think they like seeing you "borrow money," then pay it off. ◄
EDGEMAN • 04/01/25 04:22 PM ET
True**
HOKIERIT • 04/01/25 07:03 PM ET
Yep. Cancel a card you’re not or lightly using, FICO goes down.
Va AandM • 04/01/25 05:45 PM ET
seems counterintuitive to me.**
reestuart • 04/01/25 06:17 PM ET
"Credit Utilization" is one of the major factors in your credit score.
Tafkam Hokie • 04/02/25 12:01 PM ET
It shows that you have access to money but not abusing that access. **
Hoakie82 • 04/01/25 08:24 PM ET
I give up....why?**
vthokieq • 04/01/25 03:53 PM ET
Sorry, it wasn't meant to be a riddle. Just trying to figure out if anyone
Late 80s Hokie • 04/01/25 04:02 PM ET
Income disparity assuming you both work? Even a fairly small
Tuckahokie • 04/01/25 04:18 PM ET
Income doesn't have any effect on credit score. **
TravelingHokie • 04/01/25 09:46 PM ET