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      04-30-2019, 03:58 PM   #45
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Originally Posted by bimmer456 View Post
So BofA was threatening to cancel my credit card if I didn't use it, which would have lowered my credit score. Today was the last day to use it without getting screwed even though I did nothing wrong. With no physical card and thus no security code I couldn't use the card but a stroke of genius told me to add it to Apple Pay. Now credit score is safe. Pretty lame that I would be punished if I didn't charge anything to the card. Seems counterintuitive ya think?
The only cards I've ever had closed due to inactivity were store cards like Macy's n stuff.

I've had cards that are going on 2+ years of no use and are still open. Seems strange they would do that unless its a really old card with a low locked interest rate or something...
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      04-30-2019, 04:01 PM   #46
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Originally Posted by David70 View Post
No, it's for getting roughly 2-3% of everything I purchase with the credit card back as some type of reward, either hotel, travel or flights absolutely free.
This exactly.

I used to take all of my rewards money twice a year, go down to the casino and have a blast gambling with what is essentially found money since it would have been spent anyway.
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      04-30-2019, 04:08 PM   #47
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Originally Posted by type-dRew View Post
I sold a guy a car once that had scores of 903 and 901 from two different bureaus.

No clue how.
at one point in my life my credit score was in the 900's. think when I took out first mortgage 15 years ago
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      04-30-2019, 04:11 PM   #48
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Quote:
Originally Posted by DETRoadster View Post
The aggravating thing is that my wife is 10x the credit risk I am. She's accidentally bounced checks, forgotten to pay bills, maxed out a credit card, has 25x the debt I have (student loan) and makes 1/2 what I make. Yet she has the higher credit score and teases me all the time about it. I should sue Experian for the emotional distress this has caused me.

Oh man, that is infuriating. I wonder what combination of her credit history and usage is generating a better score.
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      04-30-2019, 04:47 PM   #49
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Originally Posted by bimmer456 View Post
Yeah different banks use different algorithms. Some might even have a range above 850 so your score will vary from lender to lender even if it's with the same credit bureau on the same day.
Ah, OK. Very interesting. Did not know that. Thanks!
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      04-30-2019, 04:49 PM   #50
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Quote:
Originally Posted by upstatedoc View Post
at one point in my life my credit score was in the 900's. think when I took out first mortgage 15 years ago
Just when I thought I was cool with my hard earned low 800s, upstatedoc rolls in and slaps his 900 down on the table. Mic dropped.
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      04-30-2019, 04:52 PM   #51
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Quote:
Originally Posted by DETRoadster View Post
Quote:
Originally Posted by bimmer456 View Post
Yeah different banks use different algorithms. Some might even have a range above 850 so your score will vary from lender to lender even if it's with the same credit bureau on the same day.
Ah, OK. Very interesting. Did not know that. Thanks!
Yeah I discovered that when I had this one lender say my score was below 700 and I knew it was bull crap as other lenders said it was fine. Something wrong with the vendor they were using to calculate the score the algorithm was way off. It could be that the vendor pulled the wrong credit report also but that's on them. Funny thing was the interest rate they quoted me wasn't higher than others.

When you get your free annual credit report they just give you the actual report data to review but no score as that is not part of the official report on file with each bureau. Each lender calculates their own score and the bureaus may have their own scoring as well. One of the more well known ones is the FICO score but there is apparently more than one FICO score available. So when you sign up with your credit card or bank to get a free credit score it has some kind of disclaimer that it is a ballpark and a lender may have a different score.
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      04-30-2019, 05:25 PM   #52
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Quote:
Originally Posted by bimmer456 View Post
Yeah I discovered that when I had this one lender say my score was below 700 and I knew it was bull crap as other lenders said it was fine. Something wrong with the vendor they were using to calculate the score the algorithm was way off. It could be that the vendor pulled the wrong credit report also but that's on them. Funny thing was the interest rate they quoted me wasn't higher than others.

When you get your free annual credit report they just give you the actual report data to review but no score as that is not part of the official report on file with each bureau. Each lender calculates their own score and the bureaus may have their own scoring as well. One of the more well known ones is the FICO score but there is apparently more than one FICO score available. So when you sign up with your credit card or bank to get a free credit score it has some kind of disclaimer that it is a ballpark and a lender may have a different score.
I guess that makes sense. it's the lender and not the credit bureau that's taking the risk so it would make sense that they might take the credit bureau's algorithm as a starting point and then either add some variables of their own, or, overlay a customized weighting for certain criteria they deem to be more or less important.
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      04-30-2019, 05:54 PM   #53
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Quote:
Originally Posted by DETRoadster View Post
Just when I thought I was cool with my hard earned low 800s, upstatedoc rolls in and slaps his 900 down on the table. Mic dropped.
....Fear not, 850 is the highest credit score possible. Soooo
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      04-30-2019, 06:27 PM   #54
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Originally Posted by m630 View Post
....Fear not, 850 is the highest credit score possible. Soooo
Apparently it's not...Read some of the previous posts. Also, my wife got one back that was higher when we leased her car. I've seen it with my own eyes.
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      04-30-2019, 06:33 PM   #55
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Originally Posted by c1pher View Post
One can always hope:
I loved that damned movie.
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      04-30-2019, 06:40 PM   #56
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Quote:
Originally Posted by m630 View Post
....Fear not, 850 is the highest credit score possible. Soooo
Quote:
Originally Posted by DETRoadster View Post
Apparently it's not...Read some of the previous posts. Also, my wife got one back that was higher when we leased her car. I've seen it with my own eyes.
https://wallethub.com/edu/cs/highest...t-score/24590/

This says 850.
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      04-30-2019, 07:01 PM   #57
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I have had capital one cards and others that I closed due to no use, I dont let a number, ie credit score dictate what i do with cards, they can kiss my @###
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      04-30-2019, 07:13 PM   #58
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Originally Posted by Fender150 View Post
I have had capital one cards and others that I closed due to no use, I dont let a number, ie credit score dictate what i do with cards, they can kiss my @###
I closed a capital one venture card didn't want to pay the annual fee. I was told I should have changed it to another card with no fee but keep the same account number and credit limit and not use it. Anyway my credit is fine.
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      04-30-2019, 07:23 PM   #59
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I have no credit cards, except for an Exxon card for gas that gets paid off each month. I have no debt period - house is paid for, cars are paid for, no loans, etc. My current credit score is 832, so I wouldn't worry about credit cards.
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      04-30-2019, 07:26 PM   #60
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Quote:
Originally Posted by SakhirM4 View Post
I have no credit cards, except for an Exxon card for gas that gets paid off each month. I have no debt period - house is paid for, cars are paid for, no loans, etc. My current credit score is 832, so I wouldn't worry about credit cards.
I'm with you Sakhir but very few folks are at this point in their life/career/retirement! Enjoy it!

My score is 800+ as well with no debt (house, cars paid for) though I do use credit cards for the miles/points and pay them off every month.
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      04-30-2019, 07:27 PM   #61
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Quote:
Originally Posted by SakhirM4 View Post
I have no credit cards, except for an Exxon card for gas that gets paid off each month. I have no debt period - house is paid for, cars are paid for, no loans, etc. My current credit score is 832, so I wouldn't worry about credit cards.
I have the speed pass app so I can use Apple Pay at the pump after scanning qr code. I get 5.25 percent cash back on my cash rewards card and points from Exxon (100 pts is $1 off). Prefer to use Apple Pay after learning about card skimmers at the pump.
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      04-30-2019, 08:16 PM   #62
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Quote:
Originally Posted by bimmer456 View Post
I closed a capital one venture card didn't want to pay the annual fee. I was told I should have changed it to another card with no fee but keep the same account number and credit limit and not use it. Anyway my credit is fine.
Does anyone know how to do this exactly? Because I called a while back and tried to have one of my cards with a fee changed to another card without a fee with me keeping the same account and the person told me I would have to close the account, and then apply for a new account to do this. But I have seen quite a few people online say that they have done this.
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      04-30-2019, 09:22 PM   #63
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Quote:
Originally Posted by IllSic_Design View Post
Quote:
Originally Posted by bimmer456 View Post
I closed a capital one venture card didn't want to pay the annual fee. I was told I should have changed it to another card with no fee but keep the same account number and credit limit and not use it. Anyway my credit is fine.
Does anyone know how to do this exactly? Because I called a while back and tried to have one of my cards with a fee changed to another card without a fee with me keeping the same account and the person told me I would have to close the account, and then apply for a new account to do this. But I have seen quite a few people online say that they have done this.
Yeah I saw it mentioned on a YouTube channel or several about credit cards and credit scores but always wondered if it was actually possible. Probably it would be easier to just ask for a credit limit increase on another card to keep your credit limit the same or higher.
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      04-30-2019, 10:29 PM   #64
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Originally Posted by NickyC View Post
I loved that damned movie.
Me too. It is a cult classic but did poorly in the theaters.
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      04-30-2019, 11:18 PM   #65
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this credit score one-upmanship is mildly entertaining, given that the vast majority of it is basically being able to pay your bills on time every month. sure, it's very much a good thing, but it's also table stakes. doesn't make you some kind of financial whiz or FIRE wunderkind.

it's not necessarily being debt free either. i've had 800+ while having more than half a million dollars of non-house debt.
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      04-30-2019, 11:21 PM   #66
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Originally Posted by Darth One View Post
this credit score one-upmanship is mildly entertaining, given that the vast majority of it is basically being able to pay your bills on time every month. sure, it's very much a good thing, but it's also table stakes. doesn't make you some kind of financial whiz or FIRE wunderkind.

it's not necessarily being debt free either. i've had 800+ while having more than half a million dollars of non-house debt.
What were you buying that wasn't a house? Must be a nice ride or a less nice yacht. I was thinking student debt but that is a bit much. To afford that loan you must be having substantial assets and/or income so that could be why as well, not sure if that factors into it.
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