Originally Posted by
notEnuf
What is the point of a good number unless you use it? Which will lower it. I don’t care because it’s not in a frame on the wall. It is a tool lender use to grade risk. Timing and 0% temporary credit (furniture etc.) deals have saved me more than a score ever has. If you’re borrowing for a purchase, shopping a rate is part of the deal. 75 points on a credit score either way won’t move the needle. It is what it is, it will change when earnings and debt and behavior changes. Worries about grade that doesn’t affect you is silly.
I agree completely. The point of having good credit is to use it in a way that provides benefits. If you insist at worshipping at the FICO altar, pay your balance down to zero every week and watch it juice the score by 5-25 points within a month.
When I applied for a few cards to get the sign up bonus, my score took a hit. After the dust settled my score actually increased because I was using a lower percentage of available credit. Even when paid in full monthly, a $10k balance on a $20k card looks bad because you have tapped 50% of available credit. If you have $10k but 5 cards with a $20k limit, you are only using 10% which for some reason is a better risk.