this post was submitted on 15 Feb 2024
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Seriously. “I rarely take on debt, regularly save aggressively, and pay off my debts as quickly as is convenient” means I’m bad to loan to in their eyes when if you had evidence of all that as an ordinary person I’m exactly who you’d want to loan money to.
That’s how I’ve tried to be (and currently have no debt!).
When I needed to buy a car a few years ago, they gave me a terrible rate because I had a bad score. I had paid off a couple of personal loans AND all my student loans…but it’d been a few years so my credit score had dropped. So fuck me for not borrowing money every day.
I ended up doing a co-sign for a better rate. And guess what? I paid off that car loan a couple years early and got dinged on my credit just like the original post.
But I know they don’t care about any of that and are actually mad I didn’t pay the minimum for the entirety of the loan.
If I would loan money to people, I want them to pay me back as soon as they can. But if I wanted to make money with loans, I'd want my customers to pay their loans as slowly as possible to put a lot of interest rates in my pocket.