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GreenvilleVT

Joined: 08/31/2007 Posts: 11342
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I can promise you that you are penalized for having large amounts of unused


Revolving credit. Pre 2009 you got positive points for it but they adjusted the metrics since folks drew down on revolving credit to make it through the recession and credit losses from revolving credit was steep. So they revised the metrics.

(In response to this post by 501)

Posted: 11/25/2020 at 9:08PM


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Current Thread:
 
  Credit score aficionados unite: WTF???? -- PhotoHokieNC 11/25/2020 5:54PM
  Mine was at 837, but I haven't used my cards much and one of them emailed -- AZHokie59 11/26/2020 11:28AM
  If you're at 750 it doesn't matter if it gets any higher ** -- 133743Hokie 11/26/2020 08:44AM
  But if you’re at 750 and it begins to get lower, it’s alarming. ** -- PhotoHokieNC 11/26/2020 09:13AM
  Not really as there is minimal impact until it gets pretty low ** -- 133743Hokie 11/26/2020 10:22AM
  Would you agree it’s a point of pride? ** -- PhotoHokieNC 11/26/2020 10:27AM
  I honestly don't know, but possibly. I don't know what mine is. I've -- 133743Hokie 11/26/2020 10:33AM
  That's awe inspiring. ** -- PhotoHokieNC 11/26/2020 10:39AM
  Not having chairs will definitely affect your credit rating ** -- `lag 11/26/2020 09:31AM
  That right chair’s I don’t care where you sit. ** -- PhotoHokieNC 11/26/2020 09:40AM
  ...call Mack Mack if your credit is Wack Wack... -- chumley 11/25/2020 8:55PM
  That's the problem, you're not creating any credit history so they can't -- `lag 11/25/2020 8:50PM
  Harrumph. ** -- PhotoHokieNC 11/26/2020 07:58AM
  Of course if you're older than dirt, who cares? ** -- Newt 11/25/2020 8:12PM
  Right answer. Unfortunately:) ** -- AZHokie59 11/26/2020 11:30AM
  You get penalized for having large amounts of revolving credit that is -- GreenvilleVT 11/25/2020 7:22PM
  If you keep the card, start making runs to Lowes for little stuff & charge -- EDGEMAN 11/25/2020 6:19PM
  We can talk about it when I come over for Thanksgiving ** -- HokieDan95 11/25/2020 6:07PM
  Don't forget your chair ** -- TexasGobbler 11/25/2020 6:29PM
  The Motley Fools have an answer... -- UTPr0sim 11/25/2020 6:06PM

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