WHY ???
Does buying online - in this case a car - adversely affect your credit score ?
I have heard this claim often.
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i have listened to several "credit experts" on the radio and there are so many things that can affect your credit score that it is impossible to keep up with. Also there are many different credit agencies that provide a credit score for you each with different rules. personally i think this is by design and there is absolutely nothing you can do about it.
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Owing the money will affect your score. But paying on time brings it back.
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What's a credit score?
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jimdeere: 30484847155995/comments/30484880890267
What's a credit score?
It's just a random number that means nothing until you want to borrow money.
Joe
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Credit score my tail! We bought a new slide-in electric range last month, used a seldom used credit card to spend about $2K. Got a notice from "creditscore.com" that my score went down by 25 points. Wife paid the bill the day it arrived, been 3 weeks, and the score hasn't changed. I really don't care what the hell it does, but they seem so ready to lower it, then not raise it back up. 🤷♀️
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at one time even applying for a loan or a CC would drop your score from what I have heard .
at least not like China break a rule or law and you loose a lot of points and get put on the bottom of every list
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grdad45: 30484847155995/comments/30484872542235
Credit score my tail! We bought a new slide-in electric range last month, used a seldom used credit card to spend about $2K. Got a notice from "creditscore.com" that my score went down by 25 points. Wife paid the bill the day it arrived, been 3 weeks, and the score hasn't changed. I really don't care what the hell it does, but they seem so ready to lower it, then not raise it back up. 🤷♀️
That happens with mine. With our concession business I have a lot of expenses to start the year that go on the credit card. The card gets paid off when we start our first few shows.
My score goes up and down, usually takes about a month after I paid the balances off for the score to go back up.
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There are 3 major credit agencies: Experian, Transunion, & Equifax. I never heard of "creditscore.com", but I would assume that anything you get in the mail from them is "spam".
Don't worry about your credit score.
Neal
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i dont mind borrowing money when my investments are making more than the cost of borrowing money. using other peoples money is not always a bad thing.
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varian: 30484847155995/comments/30484931643419
i dont mind borrowing money when my investments are making more than the cost of borrowing money. using other peoples money is not always a bad thing.
Yup, the last vehicle we bought, I asked what the APR was from the dealer’s credit arm was. When they said 1% in late 2020, I said - sounds great!
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Credit scores do matter regarding your car and home owners insurance policy rates.
Sad fact but true.
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When I was young and had kids at home,a mortgage,car payments and insurance bill every time I opened the mailbox,the credit card companies charged me 28%.Now that I am old,debt free and have a little money put aside the same credit card companies want me to still do business with them.Screw them.I have a card from the credit union that is 7% but I never carry a balance on it either.
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nmyers: 30484847155995/comments/30484886097819
There are 3 major credit agencies: Experian, Transunion, & Equifax. I never heard of "creditscore.com", but I would assume that anything you get in the mail from them is "spam".
Don't worry about your credit score.
Neal
The "creditscore.com" was my way of not advertising any of the credit tracking companies.
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