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swimfeeders
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swimfeeders is offline
Shropshire
Joined: Oct 2014
Posts: 24,056
swimfeeders is male  swimfeeders has posted at least 25 times and has been a member for 3 months or more 
 
01-05-2021, 05:36 PM
1

Credit Score

Hi

My Credit Score has gone down by 11 points this month.

Apparently that is because I have paid off a loan and zero outstanding on my Credit Cards.

How stupid is that?
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Pixie Knuckles
Chatterbox
Pixie Knuckles is offline
Scotland, UK
Joined: Feb 2021
Posts: 5,698
Pixie Knuckles is female  Pixie Knuckles has posted at least 25 times and has been a member for 3 months or more 
 
01-05-2021, 05:47 PM
2

Re: Credit Score

I agree it makes no sense whatsoever, Swimmy...but the way society is these days, you have more respect, the more debt you take on. Raising your credit score means having active debt...its nuts! I had two dormant accounts which suddenly became active (not by me, I hasten to add) and my credit score went up by 7 points, even though I don't use the accounts. Just the fact they were deemed active. So stupid.
spitfire
Chatterbox
spitfire is offline
Warwickshire
Joined: Jul 2012
Posts: 29,878
spitfire is male  spitfire has posted at least 25 times and has been a member for 3 months or more 
 
01-05-2021, 09:42 PM
3

Re: Credit Score

Credit Scores mean shite, after furlough and Seiss, half the population is in arrears.
spitfire
Chatterbox
spitfire is offline
Warwickshire
Joined: Jul 2012
Posts: 29,878
spitfire is male  spitfire has posted at least 25 times and has been a member for 3 months or more 
 
01-05-2021, 09:43 PM
4

Re: Credit Score

Its a growth industry.
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Pixie Knuckles
Chatterbox
Pixie Knuckles is offline
Scotland, UK
Joined: Feb 2021
Posts: 5,698
Pixie Knuckles is female  Pixie Knuckles has posted at least 25 times and has been a member for 3 months or more 
 
01-05-2021, 09:46 PM
5

Re: Credit Score

What's Seiss?
spitfire
Chatterbox
spitfire is offline
Warwickshire
Joined: Jul 2012
Posts: 29,878
spitfire is male  spitfire has posted at least 25 times and has been a member for 3 months or more 
 
01-05-2021, 10:30 PM
6

Re: Credit Score

Self Employment Income Support Scheme.
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Meg
Supervisor
Meg is offline
Worcestershire
Joined: Aug 2009
Posts: 42,850
Meg is female  Meg has posted at least 25 times and has been a member for 3 months or more 
 
01-05-2021, 10:48 PM
7

Re: Credit Score

I don't know what my credit score is and it doesn't matter because I won't be borrowing anything from anyone .
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Bruce
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Bruce is offline
Wollongong, Australia
Joined: Apr 2012
Posts: 15,218
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02-05-2021, 03:45 AM
8

Re: Credit Score

Originally Posted by Meg ->
I don't know what my credit score is and it doesn't matter because I won't be borrowing anything from anyone .
Nor me...

I do use my credit card but always pay it off in full every month and have done for decades.

Have no idea what my credit rating is, never asked. As a matter of interest is there a benefit to knowing?
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summer
Chatterbox
summer is offline
yorkshire
Joined: May 2014
Posts: 10,018
summer is female  summer has posted at least 25 times and has been a member for 3 months or more 
 
02-05-2021, 06:02 AM
9

Re: Credit Score

Originally Posted by Bruce ->
Nor me...

I do use my credit card but always pay it off in full every month and have done for decades.

Have no idea what my credit rating is, never asked. As a matter of interest is there a benefit to knowing?
Same here....no idea what mine is. I remember once years ago being refused a store credit card I was only getting it because it gave me 20% off my purchases on everything I bought in the store that day ....the reason was given for the refusal was I didn't have a credit history....bang out of order I thought!
swimfeeders
Chatterbox
swimfeeders is offline
Shropshire
Joined: Oct 2014
Posts: 24,056
swimfeeders is male  swimfeeders has posted at least 25 times and has been a member for 3 months or more 
 
02-05-2021, 06:17 AM
10

Re: Credit Score

Hi

The system is designed to get us into debt, which I think is just wrong.

Yes, I use my Credit Cards, they offer protection online.

I pay them off every month, so do not pay any interest.
 
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