Stay in Touch
Get sneak previews of special offers & upcoming events delivered to your inbox.
Sign in
06-26-2017 12:24 PM
I get an e mail that they lowered our score and I should check it out. After I go there - they lowered it 4 points so I look into why. It was because they want us to have more than the 2 credit cards we have. How bogus is that! In order to improve our rate by 4 points we need more debt. They can put their 4 points - well you know where.
06-26-2017 12:31 PM
Our credit rating system is pathetic!
06-26-2017 12:35 PM
I have no credit cards, so I can imagine my rating!
06-26-2017 12:37 PM
@151949 Agree, that is does not make sense. The only time I've cared is when applying for a mortgage and in those cases, I've found bank lenders to "see the light".
Beyond that, don't give a cr@p what anyone else thinks.
06-26-2017 12:38 PM - edited 06-26-2017 01:16 PM
I agree it is pathetic and wrong.
You can take out two cards, make a minimal charge (couple of dollars) pay it right off and then cancel it.
This way it goes on your history as paid in full.
what a hassle for nothing, right?
06-26-2017 12:55 PM
@CareBears wrote:Our credit rating system is pathetic!
You can say that again! The peo[ple with the most debt get the highest rating. This whole "notification " today was only to sell me a credit card I don't want.
06-26-2017 01:00 PM
@SahmIam wrote:@151949 Agree, that is does not make sense. The only time I've cared is when applying for a mortgage and in those cases, I've found bank lenders to "see the light".
Beyond that, don't give a cr@p what anyone else thinks.
Banks use a totally different point and credit system. Its not the same as what the public uses for general credit ratings.
06-26-2017 01:03 PM
They don't want you to have more debt, they want you to have more available credit. The better you manage your debt percentage is what boosts your credit rating. It makes perfect sense to me!
06-26-2017 01:04 PM - edited 06-26-2017 01:05 PM
My car loan was paid off Fri. We are debt free again so will see how it affects us. Discover shows me at 850. That's as high as their scale goes. I don't think the 3 credit places rate that high?
I have already had 3 credit cards close our accounts for non-use.
06-26-2017 01:08 PM
Yep it makes no logical sense at all. We currently have no debt and pay off our credit card every month and that is a no no as far as the credit bureaus are concerned. I don't really care either except, as someone stated, when you go to apply for a morgage it may become an issue. Every time I see my credit score goes down 2 or 3 points in a month even though NOTHING has changed, I just roll my eyes. The next month it goes back up again.
Such a ridiculous racket the whole credit bureau thing is. They really need to revise and streamline that whole process and those of use with little to no debt but a history of being able to responsible handle debt should be rewarded, not penalized.
Get sneak previews of special offers & upcoming events delivered to your inbox.
*You're signing up to receive QVC promotional email.
Find recent orders, do a return or exchange, create a Wish List & more.
Privacy StatementGeneral Terms of Use
QVC is not responsible for the availability, content, security, policies, or practices of the above referenced third-party linked sites nor liable for statements, claims, opinions, or representations contained therein. QVC's Privacy Statement does not apply to these third-party web sites.
© 1995-2024 QVC, Inc. All rights reserved. | QVC, Q and the Q logo are registered service marks of ER Marks, Inc. 888-345-5788