Why does it seem that every time you do something that may negatively affect your credit, it gets reported right away but if you do the opposite it seems like they just take as much time as possible? Could it be so they can sell your information for more money?
Yep. Thats exactly why.
Are you asleep?
Credit is like trust. It takes time to increase trust, but you can destroy it in a moment.
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5 years ago, when I just had my second kid and was beyond broke, my credit score was a 580. It’s now an 800. This what I’m confused about:
Doing nothing - i.e. making payments on time and not making any waves - will build your credit. Doing something that negatively affects your credit is deliberate and avoidable. So when you say:
By “the opposite” do you mean what I would refer to as “doing nothing” - i.e. making payments and slowly building your credit? Or do you mean paying off chunks of debt and closing credit cards? Because I can tell you, if you pay off chunks of debt and close credit cards, it shows within a week, and your score will jump appropriately. I recently sold my house, erased all debt, closed 2 credit cards, and put a chunk of money away, and my credit score rose that week.
This is obviously happening, but your “if I do bad things I get punished but if I do good things nothing happens” is just false, unless, again, by “the opposite” you mean “doing normal adult things and not missing payments.”
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Not necessarily deliberate nor avoidable.
Okay - there are circumstances where this isn’t true, but for the most part, it’s people missing payments or applying for more credit.
This should never be done. It shortens your history and shrinks your credit availability. Both can affect your credit negatively. Paying off chunks of what you owe will raise your score much faster and higher that making on-time payments.
Credit bureaus have a financial incentive to keep your scores low. This way they can sell your information for more. Lending agencies make more money off of people with challenged credit by charging higher interests rates.
They are not trying to help but to make more money for themselves, by keeping your scores low.
Not so. This would bump up your score and do something positive for your credit. Here they just take as long as they can to report it. No sweat off their backs. It is your problem. If you think they will report this positive as fast as they report a negative, joke’s on you.
Sometimes but not all the times.
Not true again. As this is currently happening to me. Just paid off the balance of a credit card and it still isn’t showing on my score. When I had to max it out because of an emergency it showed in a few days. These motherfuckers do not play fair, they are another enemy of the public. There were rumblings that the bureaus would be dissolved and taken over by a government agency. I"m not sure of the details but one thing I do remember was that negatives on your report would only last 4 years instead of 7.
This is your justification for the bureaus not reporting positives in the same time frame as negatives?
I do that every month. Seems like no big deal.
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I don’t know what to tell you - I watched my score jump every time I paid a balance off. It showed within a week, it bumped up my score.
I’m just gonna keep doing what I’ve been doing - it’s worked well for me for the past 5 years. It sounds like you’re angry and just want people to agree with you right now, so I’ll moonwalk up out of here. Best of luck with everything.
So why do they take their time reporting positives but get on it right away when reporting negatives?
I frankly don’t care what the credit bureau reports. I don’t purchase what I cannot afford.
You need to get a life. Hook up with @Igooo. You two need each other.
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Of course I’m angry. It has been over a week and my score hasn’t changed. When the cc had to be maxed out because of an emergency the score dropped in a few days. Why wouldn’t I be mad? When treated unfairly by some garbage industry who’s interest it is to keep your score low so they can financially benefit from it. Fuck them! I do hope they get shutdown. They have it coming to them.
Then maybe you’re just a masocist.
Has nothing to do with what I’ve said.
Did your currency trading have a run of bad luck?
No. Just decided to use the card as I haven’t used in awhile d-bag!
So, the financial wizard that you are, decided to max out a credit card?
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Yes, then paid off the balance less than 2 weeks later. Just didn’t expect it to drop my score as much as it did. And now I’m still waiting(over a week) for the paid off balance to be reflected in my score.
So you are telling us that you didn’t know that it is not going to reflect well on your credit report if the balance on one of your credit cards exceeds 50% of its credit limit? For even a day.
Can you imagine how dumb their offspring would be?
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