SWOH | Burdick - 4/16/2024 19:01
Took out a 15 year mortgage 15 years ago made the last payment in feb. It made my credit score go down because I no longer have a mortgage the land notes dont count I guess but what was I supposed to do the loan was at the end of its term. I guess the last 15 years of paying on time dont count for anything now.
It’s been that way for as long as I can remember, I thought that was pretty common knowledge. Your credit score is just a measure of debt and how good you are at making your payments on time. If you have a really high score, it just means you owe somebody money and you pay it back. If you don’t owe anybody money, you aren’t paying anybody back and your score goes down. If your score is important to you, keep a balance on something where you have to make a payment. Basically you have to buy a high credit score. Not really but kinda. Mine is 780 something last time I checked. I borrowed a lot of money when I was younger and paid it back on time. I don’t borrow much money anymore and it did drop some but it’s still considered “good”. It’s a weird system. |