Community Chat

[151949]

@SilleeMee The absolute LAST thing I want to have to do is make 7 credit card payments each month.I have 2 - one is for my personal purchases, the other we buy everything for our home with, groceries, gas, dinners out - anything that is not a personal purchase. Both are reward cards so we try to use them as much as we can.

[Iluvhandbags]

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@151949 wrote:

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@Blingqueen023 wrote:

When I purchased my new car a few months ago the Manager at the toyota dealership said I won the prize of the month.  I had the highest credit rating of 870.  Every car I purchased from them I received zero percent financing.  Love to know what shot me down for the last 30 points, lol

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. Some people love to come on here and brag their # but ,.............................................

we would have to be over 990.Phew - we made it but , as it turned out, we sold our other home so we paid it off right away anyhow.

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Hmmm......pot meet kettle!

[SilleeMee]

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@151949 wrote:

@SilleeMee The absolute LAST thing I want to have to do is make 7 credit card payments each month.I have 2 - one is for my personal purchases, the other we buy everything for our home with, groceries, gas, dinners out - anything that is not a personal purchase. Both are reward cards so we try to use them as much as we can.

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No, that is not what I meant. I said to use one or two different cards each month. Not all of them in one month. @151949

[Nancy Drew]

We closed all our credit cards off in two years before hubby retires. Our credit score went down. It doesn't matter as your credit score is broken down in sections. Available credit, late payments,credit history. We bought a fairly expensive car because the finance department at the dealership looks at the credit report so if you pay in full every month and make enough to cover the car loan, the fact that we closed all but two cards meant nothing to them. BTW how many times someone checks into your history effects your score also. It is a weird system.

[Bri36]

Credit Karma used a FAKO score which is an estimate of your FICO score.   I wouldn't trust it at all.  

I would only trust my credit score through one of the credit bureaus using my actual FICO score 

[SeaMaiden]

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@Bird mama wrote:

@onlyshopsonline   Wow, that makes me happy.  I had been cruising along at 850 and my score dropped to 841 a few months ago and I still haven't figured that out.  I just want to keep a decent score since State Farm uses credit score for insurance which I think is hysterical.

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@Bird mama   We have both our cars with Farmers insurance. We have been with them for our home and autofor over 35 years.  We have  a 850 Fico score.  No debt other than our home which only has a year left on payments.  We bought a new car in 2016. We put $10,000 down  and have the rest on a zero interest loan.

This last cycle of car insurance our rates went up....no tickets, no accidents....nothing different except the new  car payments.  Both cars went up..... the insurance have their own crazy method of figuring out rates...I Heard it is like a secret...no one can figure it out.  I guess buying a new car make us a accident risk....🤔

[Bird mama]

@SeaMaiden

I live in Michigan and we have some of the highest rates out there.

Insurance is a crock too.  When I was young and lived in Detroit, my Allstate (at the time) agent admitted they redlined Detroiters.  I was told when you move the rates will go down.

Then I was told as you mature the rates will go down.

I'm 54 and haven't lived in Detroit for 16 years and the rates on my 7 year old Nissan Versa went up this last renewal period.

My State Farm agent told me that when I go on Medicare, expect another rate hike because Medicare does not coordinate any benefits with auto insurance.

Bottom line - we never seem to get a break do we?

[teainlondon]

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@151949 wrote:

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.

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I got the same email today. We have two credit cards for emergencies. I was charged on one for not using it and they threatened to close it. So, I needed a new sofa and put that on the card. Then I had an email that my score was lowered. They suggested at least five other cards I should have. My DH said, "Forget it." We pay our bills and credit scores are like a scam." I think that's true---just a way to make people get and use more credit cards and accumulate more debt. Not us!

tea

[Bird mama]

@teainlondon

Home depot did me like that - they said they would drop my limit if I didn't use the card.  Every 2 months I buy some liquid plumber professional (lol), light bulbs and minor stuff (under $50) on that stupid card.

[KarenQVC]

@teainlondon I totally agree with your husband.  I did not retire to nitpick about small stuff.  I don't understand why old folks do that.  I will admit when he first retired my husband read ALL the mail.  Who does that?  He has now left that gruesome hobby behind.