>pay off $2,400 debt >credit score drops 47 points because

>He pays for Equifax

>>1115387
I don't pay for shit, dummy. This is creditkarma.

The whole credit rating system is fucking retarded.

How is it considered better to have like 6 lines of debt lingering over you than to have zero debt at all? The "they manage their expenses well" argument is stupid

>>1115397
>How is it considered better to have like 6 lines of debt lingering over you than to have zero debt at all?
Well, you're half right. I mean having credit does tend to show that you can manage credit, versus not have any debt.

But what's retarded is that you're punished for having 1-2 large lines of credit versus 8-10. I don't need or want 8 different credit cards or store accounts when I can put everything on one card.

Creditkarma is bogus. Capitaline rates me 60 points higher than ckarma

>>1115388
Fuck you faggot I didn't know I'm in Canada you stupid pleb with under 700 credit score.

>>1115420
>he thinks there's "one true" credit score

>>1115397
>"they manage their expenses well"

A person who managed multiple loans and lines of credit(with decent utilization) with zero late payments is considered far more credit worthy than someone who has one credit card and never uses it.

You could have an 800 score that doesnt hold much weight if you dont actually utilize credit and show you are capable of handling it.

A person with a 700 score could be approved from something that yo uat 800 might not be simply because they've shown they can handle debt without missing payments (which is what matters to lenders, interest payments that is).

Im 23 and have 200k + of available credit simply for the fact that I have never missed a payment and have had credit since 18 while also handling large amounts of debt and paying it off.

>>1115429
>You could have an 800 score that doesnt hold much weight
wrong

>>1115425
They both claim to report Experian. Why would they differ if they come from the same agency?

>>1115422
Maybe you should shut the fuck up when you dont know what youre talking about, instead of trying to be a snarky greentexting little bitch.

>>1115430
Not wrong, my little brother managed an 800 credit score at 20 with one credit card but when he went to finance a car at 21 he HAD to get a cosigner simply because he had no dept to his credit file. He was making plenty of his own accord to finance it.

The loan manager told him so since he basically just shelved his credit card and never used it.

>>1115436
Shut the fuck up pussy.

At least my credit score isn't shit like yours you fucking beta

>>1115439
>not wrong and here's my story about my brothers cousins third ex wife that's totally not bullshit hearsay at all and is actually a legally binding post.

Fuck off. This board is shit enough without your type here.

>>1115440
Let's see it then, little bitch. Then post your paystubs from your job as a professional badass so we can see who earns more.

>>1115449
Alright, when you decide to grow up and learn from others experience we'll still be here.....

Im not saying the same will happen to you or anyone else but its something to be aware of.

You and inordinate amount of anger judging from your own post.

>>1115432
Each agency has multiple credit models, depending on the type of credit. Their internal formula for credit worthiness on revolving lines of credit is different than their formula for a mortgage.

>>1115432
Because they are both using data from experian to compile the score but not all agencies/ credit issuers agree on the formula

Credit karma had me at 720, and when u got approved for a CC recently the hard inquiry came in at 736. Close enough.

Also, credit karma instantly reported the inquiry being run to my email and updated my score with the new account info.

Hardly a scam. Breddy good for a free service.

>>1115466
>Breddy good for a free service.

I used credit karma to dispute an old court debt and I won and the debt was removed. Also used them to apply for and get a credit card. I love credit karma.

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>>1115385
Anyone know a good credit card for just repaying and getting a better credit score? Mine is basically the same as OP, with 5k student debt.

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Are these some kind of good goy points for americlaps?

>>1115456
Huge parts of your score are :
payment history ( which you can't have unless you actually use your accounts)

Length of credit history

Number of accounts ( so you actually get beat up if you have only 1 or 2 accts)

It's possible to have an ok credit score ( low 700s) but have lenders poo poo it for being to thin, but it is not possible to get to 800 without a rich credit history

>>1115397
Look at it from the credit industry's perspective

>other companies have used customer X to earn Y dollars from them successfully
>customer Z has no history

Which would you think has a better chance of being successful?

>>1115456
No, I've learned that hearsay and secondhand stories like yours ALWAYS conveniently leave out a crucial part that invalidates whatever point you're trying to make.

Also Reddit is thata way if you've been out of your hug box for too long.

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>>1115472
Like I just mentioned, make a credit karma account. They recommend credit cards and tell you how likely you are to get approved.

I got a cap one quicksilver card. Shit interest rate, only a $300 limit (upped to $500 after you make your first 5 payments on time), and I there's a $40 annual fee. But I pay it off in full every month, and they give 1% cash back which is better than nothing.

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>>1115480
hmm, I think I'll get the first option. thanks Homie. I was afraid of scary debt, but you can really take advantage of it if your a non-retard.

>>1115482
You're doomed then.

>>1115385
Why would you ever, *ever* close a fucking account, especially your oldest? If it's a card with an annual fee just ask to get it changed to a no-annual fee card.

Why did you do that OP?

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>>1115486
It wasnt a card. That's why. It was a military overpayment debt that went to collections.

>>1115466
Interesting. I have creditkarma and like it. I didnt say it was a scam, but their scores seem to be consistently very low, probably to sell their credit building services better

>>1115430
Absolutely true. If you have an 800 score on 30k income and I have an 800 score and 300k income, who's going to get the better loan?

>>1115482
Yeah just use it to buy stuff you were already buying like food, toiletries, gas if you own a car, etc. You'd be a fool to use it for large purchases that you couldnt pay for at the end of the month with that interest point.

>>1115449
Shut up child. He's completely right. An artificially high score with minimal history isnt gonna do you any good if you are looking for anything outside a lowlimit credit card

>>1115472
Any one you can get. As far as helping your score no card is really any better than the other. A higher limit is better for your score. Other than that it doesn't matter.

Try to find a card with:
>no fees
>cash back if you can get it ( those usually want good credit though)
>othe things being equal one issued through your bank can be handy with online banking and such.

>>1115397
Jews.

>>1115473
Basically

>>1115397
Would you trust an alcoholic who has sworn off alcohol with holding onto a shitload of booze for you? Or the guy who drinks lightly from time to time?

>>1115385
Yep. We live in a debt based system. If I owe someone $1,000 that means I'm worth $1,000. Carry no debt and you're worthless.

Stupid if you really think about it but ayyyyy

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>>1115580
>mfw I'd debt free as of this week
my 775 credit score will probably go down but feels good man

>>1115439
Maybe because auto finance companies DON'T FUCKING USE FICO?

Like I already said, there is no one credit score.

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What is this supposed to mean?

>>1115455
>>1115440
>>1115436
>>1115422
>>1115388
>>1115387

>>/b/>>

>>1115476

The only person with half a braincell on this entire board.

>>1115618
Well they also oversimplified things. A ghetto zip code with no credit history is going to have a bad chance of getting credit compared to an affluent one.

>>1115608
it means that they use some retarded proprietary scoring method. credit karma had something similar before they redesigned the site for the worse.

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>pay off mortgage
>credit score drop

Fuking jews

>>1115612
>>>/pol/