54 People Helped
Member Since: March 2012
Bluedog234- "we all must do our part to maintain the best credit score possible by utilizing the credit you do have" You are freaking kidding me. So grandma pays off her house and car, now she has to go out and play a little credit card game, and you are saying it is her responsiblity to do so? Only in the USA.
katpao's reply was:
Because the people who created the credit bureau, are the same people who profit off the interest on your loans and credit cards. Naturally, they have created the system to ensure that you are continally indebted to them. Needless to say, you need to take out another loan or get yourself some more credit cards!
The reasoning is, like I told the other person; the people who created the credit bureau are the same people that profit off the interest you pay on loans and credit cards. They have worked it out so that you must continually be indebted to them, or your score will suffer.
Spedmondmonkey1992.... First off, you will never have a score of 700 with even one collection and poor credit utilization, and secondly no one is looking at any individual item on your report, they base it all on the number. I am trying to buy property after my score plummeted 20 points as my reward for being a good little minion and paying off my vehicle. No one cares why.
I say we all incorporate ourselves and avoid this little system the corporations set up to deliberatly milk interest and fees out of us.
katpao's response was:
Absolute, total BS. I have a 300 credit card and I go shopping, so now I have a "very poor" 80% credit card utilization score? Then, they will actually use this to strong arm an extra deposit out of me when I go to rent an apartment. Who made this crap up? Oh yeah, the people who benefit from the high interest rates and additional deposits. You know, other countries don't have this scam BTW.
I know, I have a card with a 300 limit and if I go shopping, it actually lowers my score... on some reports more than others. Real accurate depiction here. Why the hell should I have to play a numbers game with a 300 credit card that affects my score, the same as if I have one with a 20,000 limit? That is absolutly absurd and has nothing to do with credit worthingess. This country is a joke. The people who benefit off of this sloppy, inaccurate scoring system are the ones who created it. It is like playing monopoly with assh0les who are blatently cheating.... and then everyone not only continues to allow the assh0les to play, they make them the bankers. Yes, we are that stupid and the assh0les are laughing all the way to their offshore bank accounts with the money we work for, so they don't have to. You know, other countries don't allow the assh0les to play like this.