BRB bought all your personal data from the banks and credit card companies for pennies on the dollar

BRB can't get a loan without going through them

BRB worst customer service in history, worse even than the telecoms

BRB their database gets hacked, spilling all your personal financial data for the world to see. They compensate you with a few years of free "credit monitoring"

BRB employ armies of lobbyists so Congress will change the laws in their favor

822 equifax and transunion checking in

lol at povertycel OP 805 checking in can walk into any dealership or mortgage company with my dick out if I wanted

My credit score is impeccable, it's still a racket

Poverty sub 800 credit score OP spotted

*******



And it only decreased because I put a big purchase on my credit card this month in order to get more cash back.

It's better than the alternative, which is the average citizen having no way to get loans or finance a house.

The rate of home ownership in the US was higher in the 50's when credit scores did not exist

I don't disagree with the concept of credit scores.

I disagree with the absolute dogchit credit score companies

Actually, storage places are probably the biggest racket there is.

BRB pay thousands per year to store your stuff

BRB miss payment they auction off your stuff

You chose to put your stuff there though.

Would you rather have the government handling that ****?

Post your stats then

They're *******s srs.

The fact that paying off your debt and closing your accounts can hurt your score is just proof that they want you to remain being enslaved and indebted for your entire life.

BRB don't let your debt to income ratio go above 20%
BRB don't payoff your accounts and close them, because now you don't have enough proof that you can handle multiple debts at one time
BRB applying for credit, or loan can hurt your score
BRB only having a couple credit cards and no other debt will keep you from receiving a prime mortgage loan with a reasonable down payment, because not enough credit history.
BRB your average credit history must be at a certain level, so if you pay off old accounts, it lowers your average history substantially.
BRB having a credit card with really high limit(due to having good credit) and (even if the balance is ZERO) can hurt your chances of receiving a loan, based on the premise that they see your immediate access to that amount of debt as being a liability.

Fukin ******* credit score models. They are specifically designed to make you feel forced to stay in debt so that you score doesn't drop. You're literally pining for their approval, so that you can become indebted to them. What a fukin joke.

I recently paid off all of my debt, but have 2 credit cards that never carry a balance. My score is exactly 800 and if I went and applied for a mortgage, they would chit on me for only having credit cards and no other debts. The average history between both cards is only 2 years, and apparently that's "bad".

Last year when I was 42k in debt, I received an insanely low apr on my vehicle, due to high score and long credit history (Makes zero fuking sense). Now that the vehicle in question is paid off, along with my other debts, closing the accounts both raised and dropped my credit score simultaneously.

If you don't want to deal with the credit bureaus, it's really simple. Just pay cash for everything. Problem solved. You think Bezos/Gates/Musk even knows what their credit score is?

Their financial dealings are done through manual underwriting with tons of asset collateral, instead of a simple computer generated scoring model. Same thing in a way. different process.

just wait until privatized social credit scores

I literally can't get 800+ score.

I'm in my mid 30s and have never missed 1 payment in my entire life history, but it has me at 790 last I checked. I've paid off every balanced due each month for literal lifetime lmao.

You need to open more lines of credit brah. Just like the guy above said. It’s all fukkin true and very confusing how paying off debts will drop your score and having more debt will improve it. Sign up at credit karma, it’s free and your score is updated daily and they give you tips on how to improve it, i.e opening more lines of credit, not paying off debts too early, etc

Lol at needing other people's help to buy stuff.
If you were truly wealthy you would be able pay for stuff in cash / wire it.

Right, so... a racket?

While I understand the need for the credit scores and such in today's world, it really is a racket. I can agree with OP on that one.

I don't remember signing up for anyone to decide my credit worthiness but the church is and will forever be the biggest racket in the world.

If you think about it logically, it’s not a racket at all and it’s driven by banks who are lending out hundreds of thousands of dollars for 15+ (usually 30) years. They want to see that you’re able to maintain debt respsonsibly over a period of time before they give you 500k (as anybody would). Prior to the 2008 housing bubble banks were giving mortgages to anybody with a pulse that had a job (low paying and unstable even) which is why the housing market crashed like it did so now there’s many changes out in place to ensure that will never happen again....and it’s not going to, people that thinks this bubble were in now is going to pop like it did in 2008 are in for a rude awakening. Even Dave Ramsey said that with these ridiculous housing prices were seeing, if you don’t buy now you’re stupid and you will likely never be able to because the prices are only going to increase. Maybe with some small dips and flatlines but it’s only going to go up continuously

My sister is a regional manager for Public Storage, so I have a little insight.

I've been thinking about purchasing some property, throw up a cheap ass morton building and start my own storage racket. If you get big enough, PS will buy you out lol.

The fact that paying your **** early lowers your score basically proves it's a dumb racket.

I thought 850 was impeccable?

Subhuman <800 scum checking in. Bought a house last month and it dropped me 19 points to 787/791. Will be back to walk into bank with dink in hand 800+ status in a month or two though, so meh.

Then maybe start your own credit score company and bank? If its dogchit, then it should be easy to make something much better right?

In an attempt to get mine to raise above 800 I took out a loan I didn't need and to my amazement, in 2 months my score went up 23 points pushing me above 800.

Paid it off within a year instead of the 3 years recommended and my score dropped back down because once it was paid off it showed as a "closed account" on my credit. I lol'd hard and said fuk it I'm not going to hold on to large amounts of debt again.

Such is life