• Potatos_are_not_friends@lemmy.world
    link
    fedilink
    arrow-up
    28
    arrow-down
    1
    ·
    1 year ago

    I had 800 credit working fast food because l carried extremely little debt.

    Twenty years later, my score is fighting to stay about 750 because I make 6 figures, a few credit cards with zero debt. Because they WANT me to hold onto debt to show my trustworthiness? Fuck that.

    • stevehobbes@lemm.ee
      link
      fedilink
      arrow-up
      7
      ·
      1 year ago

      Nah, there’s something else that’s triggering it. Average length of credit matters a lot, so if you cancel cards and get new ones frequently that would do it.

      Long term debt for sure is good, carrying balances on cards is never rewarded.

      The reason they’re OK extending credit when you have debt is because they can see you are managing it. Mortgage or auto loans (asset backed) aren’t bad. Don’t carry balances on cards ever if you can avoid it.

      As another poster said, there’s probably no functional difference for you between 750 and 830.