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LilComadre
Member since: November 2010
Total Contributions: 1
Most Popular Contribution
Top 5 Credit Misconceptions
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(1 Total Contributions)Top 5 Credit Misconceptions
I agree with you 100%. My situation is that I have always paid my bills on time. I only charge on credit cards occasionally and pay them off immediately so I can try to boost my credit score. A few years ago my credit score was 798 -- it is now 772. Nothing has changed...it should have gone up if anything. I don't understand how the system works but it is very frustrating indeed. Plus nowadays everybody wants to know your credit score -- most annoyingly the insurance companies -- so they can use it as an excuse to raise your premiums. I believe that they are considered "hard" inquiries, which are held against you and lower your credit scores. But the consumer has no choice about these inquiries. It's really a no-win situation designed, I believe, to keep credit scores as low as possible and keep consumers paying more to lenders and insurance companies in premiums.
Comment Reply posted 1 year ago
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I agree with you 100%. My situation is that I have always paid my bills on time. I only charge on credit cards occasionally and pay them off immediately so I can try to boost my credit score. A few years ago my credit score was 798 -- it is now 772. Nothing has changed...it should have gone up if anything. I don't understand how the system works but it is very frustrating indeed. Plus nowadays everybody wants to know your credit score -- most annoyingly the insurance companies -- so they can use it as an excuse to raise your premiums. I believe that they are considered "hard" inquiries, which are held against you and lower your credit scores. But the consumer has no choice about these inquiries. It's really a no-win situation designed, I believe, to keep credit scores as low as possible and keep consumers paying more to lenders and insurance companies in premiums.
Comment Reply posted 1 year ago