282 People Helped
Member Since: December 2012
Credit scores are adversely affected by inane things. Because I used over 50% of one cards availabe credit (It has the best money back rewards), my score was downgraded even though I was under 10% of credit available on all of my cards.
If I open a new card because of a better interest rate I am penalized because the average life of my credit cards is lessened. The same thing happens if I close a very old account.
If I shop my mortgage, looking for a better rate, I am downgraded because of hard inquiries.
If I get a gas company credit card to take advantage of the reduced prices for using it to purchase their gas, then close the account, I am penalized.
These items need to be addressed as it costs theconsumer money to comply with these "rules".
garyb36350's response was: