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WHY ???
gesshots
Member Posts: 15,678 ✭✭✭✭
Does buying online - in this case a car - adversely affect your credit score ?
I have heard this claim often.
It's being willing. I found out early that most men, regardless of cause or need, aren't willing. They blink an eye or draw a breath before they pull the trigger. I won't. ~ J.B. Books
Comments
i have listened to several "credit experts" on the radio and there are so many things that can affect your credit score that it is impossible to keep up with. Also there are many different credit agencies that provide a credit score for you each with different rules. personally i think this is by design and there is absolutely nothing you can do about it.
Owing the money will affect your score. But paying on time brings it back.
What's a credit score?
It's just a random number that means nothing until you want to borrow money.
Joe
Credit score my tail! We bought a new slide-in electric range last month, used a seldom used credit card to spend about $2K. Got a notice from "creditscore.com" that my score went down by 25 points. Wife paid the bill the day it arrived, been 3 weeks, and the score hasn't changed. I really don't care what the hell it does, but they seem so ready to lower it, then not raise it back up. 🤷♀️
at one time even applying for a loan or a CC would drop your score from what I have heard .
at least not like China break a rule or law and you loose a lot of points and get put on the bottom of every list
That happens with mine. With our concession business I have a lot of expenses to start the year that go on the credit card. The card gets paid off when we start our first few shows.
My score goes up and down, usually takes about a month after I paid the balances off for the score to go back up.
jimdeere Apr 9 wrote:
What's a credit score?
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Bubba Jr. April 9 wrote:
It's just a random number that means nothing until you want to borrow money.
Joe
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Exactly. Don't borrow money, so you don't have to concern yourself with such a triviality as a credit score.
There are 3 major credit agencies: Experian, Transunion, & Equifax. I never heard of "creditscore.com", but I would assume that anything you get in the mail from them is "spam".
Don't worry about your credit score.
Neal
i dont mind borrowing money when my investments are making more than the cost of borrowing money. using other peoples money is not always a bad thing.
Yup, the last vehicle we bought, I asked what the APR was from the dealer’s credit arm was. When they said 1% in late 2020, I said - sounds great!
Credit scores do matter regarding your car and home owners insurance policy rates.
Sad fact but true.
When I was young and had kids at home,a mortgage,car payments and insurance bill every time I opened the mailbox,the credit card companies charged me 28%.Now that I am old,debt free and have a little money put aside the same credit card companies want me to still do business with them.Screw them.I have a card from the credit union that is 7% but I never carry a balance on it either.
The "creditscore.com" was my way of not advertising any of the credit tracking companies.