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31 comments
I'm doing a loan….but I'm doing it through Self Lender….because I like the idea of paying your loan off before you get it 🙂 :). It's like putting money in a savings account and having it being reported on your credit lol. Well, minus the frees and stuff, but still. I like that more than getting the money first and then paying it back lol.
👍
I find our credit system and scoring so frustrating. I can do it just fine and play the game. However why should I have to, just to get a perfect score. To me, if you pay your cards in full every month regardless of the balance and never miss payments. Whether personal loans or credit cards then eventually that should take me to a perfect score. Nope not our system. They want you to have credit and want you to use it but not too much or they harm your credit score. Use a personal loan so it’s easier to make static monthly payments for a year. Yup that’s going to hurt you. Say you decide to follow Dave Ramsey and ignore your score. Because of this you don’t have any credit and your score is low. You go look for a job and they run your credit and guess what, they don’t hire you because of your low score because they think you’re irresponsible. Yet you’re probably being more responsible then 90% of the employees that already work there.
Mine dropped 16 points last month with no changes to anything whatsoever and no new inquiries.
Thanks for the info🙏🙏🙏
Yes…mines dropped on CK and I'm mad as hell, same score good on Experian.
You’re one of the first channels I watched on YouTube . Learned a lot from here . Credit is way better but this stuff is always complicated. Wish I could dm u a question but I don’t have IG . Just @ u on Twitter . My question is a 20 sec read . Any advice or answer would help a ton
"the rich are getting richer" , you mean the people who are seen as less of a risk are seen as less of a risk ? Sound logical don`t it ?
Sebby – love your channel. I’ve learned a lot. To clarify, are personal loans factored into credit scores today? Will personal loans be factored in with FICO 10’s upcoming algorithm changes?
I just paid off all my debt and my credit score which already is hurting dropped from 616-884!
Bad postings(late payments) remaing for 7 years after that they must be deleted. How are they going to use the credit score from 2 years ago that might have bad information at that time. That will be againtst the law because they are still using information over 7 years.
Well that sucks for anyone who for example just started watching videos like yours and finally got their stuff together. So it can show a 700+ but months ago it was way lower and they’ll just use that against you. Something tells me if you’re at a 650 but for the past 2 years you were 700+, only in that scenario will they only consider your latest score 😂
Why did my credit score jump up 60 points today??
The fair credit reporting act…. Down the toilet!
Thanks for the heads up Sebby!
I noticed an increase in my score the last year (2019) by prepaying my cards just as you said. In my experience I own a Gold Charge AMEX card in Mexico (not business or corporate just personal) what I have notcied is that they like that you use a lot your card and pay, as soon as possible, this is the main reason why they create all this perks.
Mine just did. Thirty 2 points due 2 closing an account 💯. I'm learning, 2 be careful, about the credit 💳 I want in my name.
I agree Sebby🤝
My score just went from a 736 to 653 in one month. I checked all 3 of my reports and there are no past due payments, collections, student loans. I think it’s because of the new FICO 10 system
Oh my, my credit went from 686 to 525 smh. I been paying my rent & bills on time, and all. My fiancé, and I were only late on his car that I cosigned for years ago, and within the last month, and a half, 2 months is when the drop happened. I will continue to pay things on time, but do you know of other ways to build your credit, without an actual credit card? Thank you very much.
I think it's very unfair, I worked hard for my previous score smh.
FICO 10 is fair, to the responsible.
I disagree with you on one thing. I pay my balances off every month before the statement closing date. I usually let 2 cards with low balances go till the due date, this way my utilization has never been above 5% in years.
It is good thing I checked with the 3 credit bureaus; they made a huge mistake on my credit report and I filed the dispute with them. Crazy it is always something with them.
I did this, leaving 1$ on my account after closing statement and my fico score dropped 12 points
you should do a follow up video on how coronavirus affected this. because it obviously did
I pay all of my cards every two weeks when I get paid
👍🏼
Between fico and biden credit system is gonna fuck everything up
No offense but people have to live off/around cards in many instances. Not many can pay off every month. Now they find another way to screw us….even if we always pay our bills.
Up until now I thought that the statement date was the due date. I have been pre-paying my cards because I thought it was just paying them at all lol, I thought there was a due date and a "report date"