mysticfree

3 Contributions 169 People Helped

Member Since: February 2008

Most Helpful Contribution

The Relationship Between Your Credit Score and Credit Card Utilization Rate

Nov 04, 2012
Helpful to 169 out of 193 people

You failed to mention that, even as you pay down your balance, credit card companies like to reduce your credit limit at times - keeping your utilization rate high, your credit score low, and subsequent interest rates high.  A win for them at your expense with this stupid credit score game.

Activity (3 Total Contributions)

The Relationship Between Your Credit Score and Credit Card Utilization Rate

Nov 04, 2012
Helpful to 169 out of 193 people

You failed to mention that, even as you pay down your balance, credit card companies like to reduce your credit limit at times - keeping your utilization rate high, your credit score low, and subsequent interest rates high.  A win for them at your expense with this stupid credit score game.

why did my score drop

Apr 17, 2016

Credit Karma has "open accounts" as having low impact on the score.  Really?  A change of 2 accounts causes a 25 point drop and this is low impact?

why did my score drop

Apr 17, 2016
more info

More digging shows that Transunion removed 2 accounts dropping my open accounts to "6-10".  Equifax, on the other hand, shows that I still have 13. 

What a joke credit scores are, and yet we have to live and die by them.