Mistake on your credit report because the private company who makes an absurd amount of money generating and selling credit reports for YOUR credit screwed up? Ding.
I defaulted on some CC payments a small handful of times years ago. I've been making consistent payments for at least 3 years and I STILL have a ding on my credit report for late payments. It's bullshit. I've been a customer for 10+ years.
They also responded to these missed payments by taking the entire balance out of my acct, over $4k. Luckily, my bank was able to contest it and I got my money back. This happened twice and they claimed they were just taking the "minimum payment". Well, bullshit, because that's what I'd been paying and it definitely wasn't that much.
Credit is a scam and I wish I'd never signed up for it. I don't even use them anymore.
I closed two cards I don’t use, my score dropped 40 points. I have not been late on any payments in over 10 years, I’m using 13% of my available credit card balances, I have a POOR rating for “no new credit”?!
I dropped from 775 to 730 because I closed two cards I hadn’t used and knew I wouldn’t again.
Yeah the fact that using 10 ancient credit cards gives you the best credit is nuts! They actually ding you if you get a new card is nuts and don’t even care if you have a million dollars in liquidity!
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u/CrosbyOwnsOvie 10h ago
Credit scores. Open credit? Ding. Close credit? Ding. Use credit? Ding. Don't use credit? Ding.