Credit Scores

Icon said
This is completely inaccurate and I hope anyone reading that post takes it with a grain of salt.

My credit score has been over 800 for the better part of the last 10 years, and was in the high 700s prior to that. In that time, I never missed a payment......and can probably count on one hand (with fingers left to spare) the number of times I had to pay interest as a result of not having the full amount paid by the due date of the credit card. Point being, I've rarely had "revolving debt"......and there are lengthy stretches where my CC goes unused, since it's typically used to make online purchases, hotel bookings, etc. Once the charge hits, it gets paid.

I hate that you had to deal with some annoying stuff pertaining to your credit score, but telling people that they "have to be deep in debt to have a decent credit score" is nonsense.

Well, It's funny that while I was deep in debt, so deep that I wasn't able to accumulate more until I paid off the current debt, my score was like 705 or so. I never missed any payments either. But when I finished paying everything off, my score went down about 70 points overnight. It was because I didn't have any open debt. I got rid of a CC, kept one. I have no debt right now, only monthly bills. My score climbs slowly. The minute I used my CC, within two days max, it drops another 30 points. Doesn't matter that I'll pay it off by the due date because my score won't jump 30 points overnite, it will slowly climb back to where it was over months. What am I supposed to think? They don't want to help your score, but they sure as hell don't mind hurting it.