this post was submitted on 20 Aug 2023
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Credit scores. It goes up when you have more debt and goes down when you pay your debt off, but it goes down if you ask for a loan and it goes down if you even try to check what it is.
Absolute nonsense.
Yes that's not my experience. It's a measure of how responsibly you utilize your debt. They like to see you use your debt. But they like to see you pay it off. They don't like for you to sit at a high percentage of debt. And they like to see that you've used your debt responsibly for an extended period of time
They want you in debt so you're forced to work, and so that they can grift interest money off you. According to their system it's irresponsible to not have debt, and it's also irresponsible to ask what their magic number is.
When you pay a loan off your score will go down because an account is closed. It's short term though. Not paying a debt will tank the score.
This person is passionately against something they have convinced themselves they fully understand without having any real idea wtf they are talking about. Reading his comments is reminiscent of my mother arguing to me that cost of living isnβt real, such pointless garbage and she gets upset unless you just nod your head and act enlightened somehow. Reading his comments, heβs convinced himself of how the credit rating system is bad, likely reinforced by misunderstood anecdotal evidence and other ignorant people sharing their anecdotal misunderstood experiences, or even made up hogwash. So much so that he digs his heels in and refuses to learn anything that would even allow him to form a valid critique against the credit rating system, preferring instead to be convinced he is infallible and enlightened while loudly spewing confidently incorrect bullshit.