That’s because the credit rating system is a Southern invention.
this post was submitted on 25 Jul 2026
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thought it was total credit limit / useage % something like that. get a few high limit cards and don't use them much. number goes up. mine bounces about 10 points every month. quit paying attention. always pay balance. hovering at 820 for years. net worth figures in too. not an expert. playing their game 30 years.
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Your credit score is a measure of how long (time) lenders can expect to receive money from you
Just paid off a car. Didn't see this coming..
My credit scores tanked when I paid off my truck.
I'm not sure where this myth comes from but it's not true.
I guess a tiny truth... Posting a $0 balance on all accounts can hit it a bit. But it goes away instantly and also you can and should post a balance, then pay it off. You won't pay any interest that way. If you're posting $0 on your cards you're either not using them (why have them?) or unnecessarily paying them off before statement date.
That doesnt sound correct but maybe its just cooked in america. I believe the way it works here is that making obligation payments improves credit score and failing to pay on time reduces it. You can dispute any failed payments to have them overturned and they go away after 2 years. You do not need to get into debt to build credit, stuff like utility bills and internet bills will build your credit up to almost perfect. It seems fair to me but there are still a lot of people who have chopped credit and it affects being able to rent. My flatmate has dogshit credit and refuses to do anything about it and I have to do so much extra work just to secure places to live.
It doesn't sound correct because it's not. Financial literacy in the U.S. is awful and the ridiculous misconceptions about credit scores that propagate are one symptom of that.
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"poorly implemented" implies some of the biggest financial companies in the world designed a system carelessly.
It's functioning exactly as intended - to keep people on the debt treadmill as long as possible to maximize profitability.
Zero credit. Always.
I have never really had to involve a credit score with my life, except once when buying a house. I'm pretty sure any lender does their own checks.
In the US many insurance companies will give you better rates if you have a good credit score. It can make a very big difference as supposedly there's a correlation between bad scores and higher risk of accidents and claims.
A good score also gives you a lower interest rate on any loans, car and home being most important. Having a good score can save you tons of money monthly.
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