Community Chat

[hckynut]

@heart of savino

The only time I have, or do check my credit score, is when I want to finance a new car(at the lowest % rate) or when I bought my 1st townhome.

Those are the only times I concerned myself because those loans and getting the lowest interest rates, meant the difference of thousands of $$$ over the life of a loan. Credit cards? Pay them off monthly and forget about credit scores.

As long I pay my debtee on time not much else I can do since "they" are the ones that can manipulate the numbers.

hckynut(john)

[Tinkrbl44]

Just curious .... does the amount of $$ you have in your savings account influence your FICO score?   My sister said not really,  but I thought it mattered.   Anyone know?

[Desertdi]

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@Tinkrbl44 wrote:

Just curious .... does the amount of $$ you have in your savings account influence your FICO score?   My sister said not really,  but I thought it mattered.   Anyone know?

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Banks only report loan activity to creditors.   Like:  "Hi cr $10M, pays current"  or "(1-30, or 31-60) etc."  If you are writing a check, and a creditor calls the bank, they only say whether it will clear or not.     Banks only report interest on your account to the IRS for taxation purposes.

[KathyPet]

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@Tinkrbl44 wrote:

Just curious .... does the amount of $$ you have in your savings account influence your FICO score?   My sister said not really,  but I thought it mattered.   Anyone know?

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NO financial institution reports anything concerning your checking, savings or any other investments to any credit bureau.  That is strictly against the law.

[Tribesters]

@itiswhatitis

Just the FICO credit score is on the statement. 

[Lipstickdiva]

My CC allows me to get it for free every month.  I haven't checked it in about a year.