Microblog Memes

A 35 point drop should either be a temporary blip, or a result of having practically no other credit.

A significant portion of your credit score is the average age of accounts. When an account closes, that is no longer accumulating time (this is also why you should just keep credit cards you aren’t using open, and if they have an annual fee, have the issuer change it to a free card if they can, I.e Chase Sapphire down to Freedom).

Another portion of the score is debt-to-limit ratio. If that goes from $250:$10,000, down to 0:0, you look a lot worse as a credit customer.

ooh this reminds me I had a coworker confidentially tell me credit doesn't go down after closing a line! I know in the long run it's beneficial but when living paycheck to paycheck it's not very easy to think about the future :)

I have refused to talk to her since lmao

It actually sounds like the opposite.

Your "good" credit card customer is presumably paying more credit card fees on accounts so is actually less sound financially.

So if you mean playing the rules means paying higher fees to credit cars companies then that just helps show how stupid the system is.

Also, I actually disagree fundamentally with the argument. If it's just based on how old your accounts are then that is a shitty system. It's not only easy to play by the rules, but then presumably to abuse them as age of an account doesn't indicate much about your ability to pay off bills.

Credit history length was shortened, lowering the score. Just give it another 5-7 years it'll build back up!

The numbers Mason, what do they mean?