How can this be?
JT
[subject]
Tuesday, June 29, 2021, 09:40 (1870 days ago)
I have two banks, the Credit Union and Wells Fargo. Each one gives me my credit score each month. This month CU has me at 689 and WF has me way up at 841. How can they both have the same information and come up with such different results? I guess this tells us how worthless the so-called credit score really is.
I paid cash for my house
Greg M.
[subject]
Tuesday, June 29, 2021, 10:36 (1870 days ago) @ JT
and I recently found out that *not* having a mortgage negatively impacts your credit score. So apparently they want you to be leveraged -- or over-leveraged -- in order to have a "better" credit rating? I can't figure that one out.
WE USE CREDIT CARDS FOR EVERYTHING EACH
JT
[subject]
Tuesday, June 29, 2021, 10:40 (1870 days ago) @ Greg M.
MONTH AND PAY THEM OFF EACH MONTH--NO INTEREST TO PAY SO WE ARE "DEADBEATS".
Exactly
Greg M.
[subject]
Tuesday, June 29, 2021, 10:54 (1870 days ago) @ JT
I do the same thing. The CC companies don't like it because they want that sweet, sweet interest. Financial responsibility -- i.e., not buying more than you can afford and going into debt -- interferes with their cash flow.
I try to pay cash to small and local businesses when I can. I understand the CC companies take something like a 4-5% cut when you pay by CC; for a small business working on slim margins, this can be brutal. If it's Wal-Mart or Amazon, I don't care; they can afford it.
Yep, me too we do the same thing
Grover Sr
[subject]
Tuesday, June 29, 2021, 14:17 (1870 days ago) @ JT
- No text -
I have never owned a credit card, I will admit to having a
jthomson
[subject]
Tuesday, June 29, 2021, 16:24 (1870 days ago) @ JT
debit card but never a credit card, cash has always worked for me and will continue to do so.
Colleen and I travel a lot, her with her
Gary Reeder
[subject]
Tuesday, June 29, 2021, 16:45 (1870 days ago) @ jthomson
Jack Russell Association and judging the JR trials all over the country, and me with all my hunts, mostly out of country. We have to use credit cards but pay them off pronto.
We have folks (mostly ladies) come into the gun shop and buy something small like a box of ammo, maybe $30 and they pull out a stack of credit cards an inch thick with a rubber band around them. They go thru them like shuffling cards and finally pull one out and say "let's try this one" And more times than not the card is denied and they have to pick out another that might work. That is nuts but it seems to be the American way of life.
We do the exact same thing,
TM
[subject]
Wednesday, June 30, 2021, 07:19 (1869 days ago) @ JT
use a card for everything and pay in full each month. Never any interest PLUS we get cash back from the card issuer.
The system is predicated on debt
Dave H.
[subject]
Tuesday, June 29, 2021, 11:03 (1870 days ago) @ Greg M.
And everyone uses a different algorithm to figure the score. Its all a scam. As a lawyer who has fought the credit bureaus on behalf of clients in years past, they are the worst.
Just bought a new vehicle
Tim Pence
[subject]
Tuesday, June 29, 2021, 11:52 (1870 days ago) @ JT
The 2 scores were off by 60 points. Go figure.
I swa an article on WSJ this morning
TM
[subject]
Wednesday, June 30, 2021, 07:28 (1869 days ago) @ JT
that the government may start a credit reporting agency since the big 3 agencies show different scores. This is harming those with perfect credit. Right now two cards are reporting our score as 821 and 827, not enough difference to worry about.