# POLL: What is Your Credit Rating? (Anonymous)



## Coastal_Cruiser (Oct 1, 2018)

What is the average credit rating of an Uber driver? Feel free to post yours anonymously.


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## Mkang14 (Jun 29, 2019)

Coastal_Cruiser said:


> What is the average credit rating of an Uber driver? Feel free to post yours anonymously.


I use to monitor through Experian (and I paid $20 a month). This was the last time I measured it before I canceled. I know its lower now because some of my cards aren't at 10% anymore.


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## Coastal_Cruiser (Oct 1, 2018)

Most excellent!

There of course was a time when you had to pay to know just your report (sans credit score), unless you were denied credit. Then a law was passed allowing us to get the report for free once a year (freecreditreport.com negates the need to contact each of the Big Three agencies). But then you had to pay to know your score. Now some entities are even allowing free access to your credit score. I get mine via my Capital One credit card.

Also, if you were part of the Equifax data breech, part of the settlement is to get your score once a month for free.


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## Uber's Guber (Oct 22, 2017)

My FICO score is perfect.
If your FICO is anywhere between 820 - 850, you're looking great.
If you have credit cards you don't use, close them out. Otherwise they look like a liability.


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## Mkang14 (Jun 29, 2019)

Coastal_Cruiser said:


> Most excellent!
> 
> There of course was a time when we had to pay to know just your report (sans credit score), unless you were denied credit. Then a law was passed allowing us to get the report for free once a year (freecreditreport.com negates the need to contact each of the Big Three agencies). But then you had to pay to know your score. Now some entities are even allowing free access to your credit score. I get mine via my Capital One credit card.
> 
> Also, if you were part of the Experian data breech, part of the settlement is to get your score once a month for free.


I used Transunion monitoring for 10 years. I paid $10 or something and they raised the monthly amount twice and I cancelled. I really liked it.

Then the Experian data breach happend and I got this app after I was impacted. I purchased the upgrade because it bothered me that there were all these awesome charts, numbers and options I couldnt select &#129335;‍♀. I know I'm weird &#128514;.


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## Uber's Guber (Oct 22, 2017)

The Big 3 has to provide your credit report free once a year. You can time it to receive one free report every four months.


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## Coastal_Cruiser (Oct 1, 2018)

Mkang14 said:


> "Then the Experian data breach happened..."


Sorry I had it wrong. It was Equifax that got hacked. Not sure why, but that ended up granting the free monthly update with my Transunion score.


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## Mkang14 (Jun 29, 2019)

Coastal_Cruiser said:


> Sorry I had it wrong. It was Equifax that got hacked. Not sure why, but that ended up granting the free monthly update with my Transunion score.


Looks like it experian and then equifax.


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## Coastal_Cruiser (Oct 1, 2018)

Uber's Guber said:


> If you have credit cards you don't use, close them out. Otherwise they look like a liability.


Good point, but such a move can lower your score instead, so be careful about closing accounts. If the *average age of your credit* goes down by closing a long established account -which some scoring systems weigh heavily- then your score might be adversely impacted. Just sayin'.


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## Mkang14 (Jun 29, 2019)

Coastal_Cruiser said:


> Good point, but such a move can also lower your score as well, so be careful about closing accounts. If the *average age of your credit* goes down by closing a long established account -which some scoring systems weigh heavily- then your score might be adversely impacted. Just sayin'.


Yeah but not that much. That's one of the most minor impacts.

Credit limit to available is the biggest different. Also having other types of accounts like car loan and house, increase your score. Also dont have derogatories.

I also noticed not every card appeared under each reporting company so I wrote letters to make sure they captured all the cards. I dont think that ever got fixed though lol.


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## Uber's Guber (Oct 22, 2017)

Coastal_Cruiser said:


> Good point, but such a move can also lower your score as well, so be careful about closing accounts. If the *average age of your credit* goes down by closing a long established account -which some scoring systems weigh heavily- then your score might be adversely impacted. Just sayin'.


You're correct. If you've been given a credit card with a 50k line of credit that is several years old and you've never had to plow into it, that can also make you look like steady worthy consumer.


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## Mkang14 (Jun 29, 2019)

Oh and another thing to watch out for is if you buy a car make sure they dont run your credit report multiple times. 

I have no idea what they did but when I checked my report I had 4 or 5 hits on my report. Each reducing my score by 2 points. Those stay on there for 2 years.


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## Coastal_Cruiser (Oct 1, 2018)

Mkang14 said:


> Yeah but not that much. That's one of the most minor impacts.


I think that may be a question of where we source our information about these credit scoring algos. We of course don't know what the credit rating gods pour into the algo stew, but must rely on articles from industry sources. I have read that age of credit is one of the higher weighted metrics. But if you think about how good a long time on the job means on your resume (generally weighted highly by employers) it kinda makes sense that credit age is an important factor.

EDIT: I just recalled a neighbor of mine who had NO credit history whatsoever two years ago somehow has an 800+ score! Very few accounts. No installment loans. 800+. Go figure.



Mkang14 said:


> Credit limit to available is the biggest different.


Right. That is one I've never been sure on because of contradictory info published. As Guber was saying, there is a point of view that having access to a lot of credit can work against you (creditors know you have the ability to rack up a lot of bills). On the other hand I've heard that what counts is having a low credit utilization (which I think is what you are saying). For example mine is at 1% utilization. This latter one folds into the theory that banks like to lend money to people who don't need it. Ha ha.



Mkang14 said:


> Also having other types of accounts like car loan and house, increase your score.


Right. "Installment" loans like auto and home loans, along with "revolving" credit like credit cards, gas cards and department cards, etc. raises your score. I one time bought a solar system on installment just to raise my score before buying a car.


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## got a p (Jan 27, 2018)

all i got are 3 credit cards, never had an installment loan or auto loan and score is 750 :woot:

well after seeing the results i am a sad panda 😒, thought i had a good score...


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## Uber's Guber (Oct 22, 2017)

got a p said:


> all i got are 3 credit cards, never had an installment loan or auto loan and score is 750 :woot: well after seeing the results i am a sad panda &#128530;, thought i had a good score...


You may not have an excellent score, but you are still above average. A score of 750 is rated "Very Good" which qualifies you for better interest rates then the general population has access to.


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## Jon Stoppable (Dec 11, 2019)

I probably have the worst score. Had a business failure then my wife got sick. Hired a lawyer but he kept my money without filing bankruptcy. Good news is the old debt drops off my report at the end of next year


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## mbd (Aug 27, 2018)

Mkang14 said:


> I use to monitor through Experian (and I paid $20 a month). This was the last time I measured it before I canceled. I know its lower now because some of my cards aren't at 10% anymore.
> View attachment 400860


Banks will give you free credit score . You should not have spend 10,848$ on monitoring your credit score. Credit Karma also gives out free credit scores.&#129322;


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## Who is John Galt? (Sep 28, 2016)

Coastal_Cruiser said:


> Feel free to post yours anonymously.


Where, on WikiLeaks?

.


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## Jon Stoppable (Dec 11, 2019)

Discover gives me free credit monitoring even though I've never had a Discover card and they won't approve me even if I applied. Thanks, Discover!


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## Mkang14 (Jun 29, 2019)

mbd said:


> Banks will give you free credit score . You should not have spend 10,848$ on monitoring your credit score. Credit Karma also gives out free credit scores.&#129322;


I always waste money &#129335;‍♀

I liked the daily monitoring option. Refresh daily.

I tried Credit Karma and those free sites and I didnt trust they provided me the right info. Plus a lot of them provided Advantage score and not FICO.

I know the bank cards provide credit score too. But. since I bought a house last year i dont go all crazy monitoring my score like i use to.


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## The queen 👸 (Jan 2, 2020)

Uber's Guber said:


> My FICO score is perfect.
> If your FICO is anywhere between 820 - 850, you're looking great.
> If you have credit cards you don't use, close them out. Otherwise they look like a liability.


They say not to close them and use them sometime and pay it off.


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## tohunt4me (Nov 23, 2015)

Coastal_Cruiser said:


> What is the average credit rating of an Uber driver? Feel free to post yours anonymously.


Good enough to be shopping for Another new car soon.
Savings ? Not so good.

Investments - LOL.



got a p said:


> all i got are 3 credit cards, never had an installment loan or auto loan and score is 750 :woot:
> 
> well after seeing the results i am a sad panda &#128530;, thought i had a good score...


A loan will want credit history also.

Unless its Mexican Mafia.

Then they just want pictures of your family.
And addresses.


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## Mkang14 (Jun 29, 2019)

Coastal_Cruiser said:


> I think that may be a question of where we source our information about these credit scoring algos. We of course don't know what the credit rating gods pour into the algo stew, but must rely on articles from industry sources. I have read that age of credit is one of the higher weighted metrics. But if you think about how good a long time on the job means on your resume (generally weighted highly by employers) it kinda makes sense that credit age is an important factor.


Almost all my cards are old. Which is why it's never made much of a difference for me. I never closed them on purpose but some of the store cards close on there own from nonuse.



Coastal_Cruiser said:


> Right. That is one I've never been sure on because of contradictory info published. As Guber was saying, there is a point of view that having access to a lot of credit can work against you (creditors know you have the ability to rack up a lot of bills). On the other hand I've heard that what counts is having a low credit utilization (which I think is what you are saying). For example mine is at 1% utilization. This latter one folds into the theory that banks like to lend money to people who don't need it. Ha ha.


I meant available credit to utilization. This makes the largest consistant ups and downs on my score. Must keep below 30% and even better under 10%.

Also when your credit limit increases the credit score goes up big time.

I currently have 2 homes under my name. One is cowned with my dad. Even though I have a perfect credit history my score always hovered around 800 until the first house appeared under my name. That's when i saw it jump to 820.

My highest limit on a single card is $16,000 so possibly someone with a $50,000 limit may have different experience with credit scores.


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## ColumbusRides (Nov 10, 2018)

I'm at 750, I just checked this morning


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## The queen 👸 (Jan 2, 2020)

Mkang14 said:


> Almost all my cards are old. Which is why it's never made much of a difference for me. I never closed them on purpose but some of the store cards close on there own from nonuse.
> 
> I meant available credit to utilization. This makes the largest consistant ups and downs on my score. Must keep below 30% and even better under 10%.
> 
> ...


Like you I own 2 houses and 1 warehouse in Hagerstown that I rent. I have only 2 cards. 1 debit and I credit with a high credit limit that I use for big purchases and vacations to Europe every year. I have only 1 retail store credit card because I used to work there for 23 years. I used it sometimes. I don't mess with my credit scores. I monitored it for free with my debit card( capitalism one 360). It's free . My kids (19-16 ) have credit cards with low credit(1000$) each. So far they have been very responsible with it and it help with their build up credit.



The queen &#128120; said:


> Like you I own 2 houses and 1 warehouse in Hagerstown that I rent. I have only 2 cards. 1 debit and I credit with a high credit limit that I use for big purchases and vacations to Europe every year. I have only 1 retail store credit card because I used to work there for 23 years. I used it sometimes. I don't mess with my credit scores. I monitored it for free with my debit card( capitol one 360). It's free . My kids (19-16 ) have credit cards with low credit(1000$) each. So far they have been very responsible with it and it help with their build up credit.


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## 1.5xorbust (Nov 22, 2017)

Coastal_Cruiser said:


> What is the average credit rating of an Uber driver? Feel free to post yours anonymously.


Are you looking for the mean, median or mode?


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## Mkang14 (Jun 29, 2019)

The queen &#128120; said:


> Like you I own 2 houses and 1 warehouse in Hagerstown that I rent. I have only 2 cards. 1 debit and I credit with a high credit limit that I use for big purchases and vacations to Europe every year. I have only 1 retail store credit card because I used to work there for 23 years. I used it sometimes. I don't mess with my credit scores. I monitored it for free with my debit card( capitalism one 360). It's free . My kids (19-16 ) have credit cards with low credit(1000$) each. So far they have been very responsible with it and it help with their build up credit.


Pretty sure I have about a dozen cards.&#129335;‍♀

It's because I see the beautiful clear AMEX or the Citi Diamond and I have to have it &#128514;. Now I have a pretty great selection and don't really care for more.

When I was 18/19, got a bunch of store cards (VS, Express, Macys, etc) but I always paid my bill's on time and began to monitoring early.


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## troothequalstroll (Oct 12, 2019)

If you're not buying a house or car it don't matter over 700 will get you any credit you need and if you got lines of credit it doesn't matter unless you want more and over 700 they'll keep sending ya them,

You want least a few cards and 1 big payment like mortgage or car note to keep it active if you care, that's why I don't see point in buying cars all cash is rather have 9500 in emergency cash and drive off the lot in a 10K ride for 500 cash and have that note go towards my history of being a stellar credit risk who paid on time or early for 20+ years now I can make a lot more off the 9500 than the few bucks a day interest the ride costs

650ish you should be able to walk on any car lot with 500-1000 & walk off with a 10-20K car

Leverage that debt like a professional, use it for emergencies, best to pay off if you can but you can't take it with you so pay yourself first

If it sucks so bad no one will give you any stop paying it let them all close out get a secured card for like $300 & just use that while you stack savings then get a few more secured cards where you're comfortable closing out the old debt at discounted rates

No point paying it back if an emergency comes up & none of them will give you a card or up your limit so you need savings for an emergency not a credit score it takes a good two years to fix if bad or new so do you for 2 years

If you're 70+ with a bunch travel the world Max em out lol

I use to keep track but got to where they won't send me no mo lol so I just froze it and maintain my line which is enough to chill 4 years at a time going on my 5th 4 year vacation

I know it's good enough because when the ride breaks down or needs work once a year I go to shop apply for the 1st 90day interest free loan & it gets approved and paid off the next month so all my auto repairs receipts are organized, on the lookout for next car that lasts me 15+

If you have 10+K in credit lines and pay off regularly they'll keep throwing you lines of credit if you keep $9999 of it as debt & just pay minimums they love you and every year they'll just give a 1000 more to keep stringing you along

You have 10+K balance always 0 they can trust that demo so here's 10+ more anytime they ask have 10K owe all of it well they regular on payments once a year let's see if we can trust them with just 1000 more lol

Everyone pretty much dies in debt as long as it's manageable nothing wrong with it, I'm at about $3 a day towards interest I don't like to get above 10 but it fluctuates when I get a little happy with my cards, my shoe fetish like a woman's(designer not bball) 1-3000 a year isn't something to stress much over when it comes in lumps that's a good day or week etc.


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## Coastal_Cruiser (Oct 1, 2018)

Mkang14 said:


> I meant available credit to utilization. This makes the largest consistant ups and downs on my score. Must keep below 30% and even better under 10%.
> 
> Also when your credit limit increases the credit score goes up big time.


I am impressed with your knowledge of credit. I thought I knew a thing or two but you trumped me.

(sorry)


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## Mkang14 (Jun 29, 2019)

Coastal_Cruiser said:


> I am impressed with your knowledge of credit. I thought I knew a thing or two but you trumped me.
> 
> (sorry)


No sorry needed &#128515;. I love numbers and naturally credit score is something I would be fascinated by. I never claimed to be normal &#128129;‍♀.


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## Coastal_Cruiser (Oct 1, 2018)

No. I apologized for using the "T" word. Ha ha.


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## Mkang14 (Jun 29, 2019)

Coastal_Cruiser said:


> No. I apologized for using the "T" word. Ha ha.


In that case I might take some time to get over that &#128534;

&#128514;


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## mbd (Aug 27, 2018)

Mkang14 said:


> I always waste money &#129335;‍♀
> 
> I liked the daily monitoring option. Refresh daily.
> 
> ...


Why did you monitor your credit score when you bought your palace with cash?


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## Trafficat (Dec 19, 2016)

My credit score dropped from around 820 to around 795 over the last several years. Not sure why. My credit utilization rate is always super tiny. I've got a $10,000 line of credit through a gun distributor or two, and a handful of credit cards. I've never been late paying a bill. I've never taken a personal loan or a mortgage or anything like that which is probably why my credit is low but I don't know why it used to be high. Not that it seems to matter to me. I don't like debt so as far as I can tell the only purpose of having a good credit score is so that I can get credit cards with great rewards programs like my Paypal Mastercard that gives me 2% cash back on all purchases, no questions asked. I've got a bunch of old credit cards I don't use any more. Like I have a 1.5% cash back card I stopped using, and a 1% cash back card that I stopped using before that one. Hopefully one day I can get a 2.5%-3% cash back card. 

I know there are all these cards with 3% back on certain categories, especially the ones with rotating categories, but that's kind of annoying to deal with. I can only put up with so much annoyance to get an extra 0.5-1% back.


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## Chorch (May 17, 2019)

Mkang14 said:


> Oh and another thing to watch out for is if you buy a car make sure they dont run your credit report multiple times.
> 
> I have no idea what they did but when I checked my report I had 4 or 5 hits on my report. Each reducing my score by 2 points. Those stay on there for 2 years.


Yup.
Stupid Carmax. They ran it like 373747 times.


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## Mkang14 (Jun 29, 2019)

Trafficat said:


> My credit score dropped from around 820 to around 795 over the last several years. Not sure why. My credit utilization rate is always super tiny. I've got a $10,000 line of credit through a gun distributor or two, and a handful of credit cards. I've never been late paying a bill. I've never taken a personal loan or a mortgage or anything like that which is probably why my credit is low but I don't know why it used to be high. Not that it seems to matter to me. I don't like debt so as far as I can tell the only purpose of having a good credit score is so that I can get credit cards with great rewards programs like my Paypal Mastercard that gives me 2% cash back on all purchases, no questions asked. I've got a bunch of old credit cards I don't use any more. Like I have a 1.5% cash back card I stopped using, and a 1% cash back card that I stopped using before that one. Hopefully one day I can get a 2.5%-3% cash back card.
> 
> I know there are all these cards with 3% back on certain categories, especially the ones with rotating categories, but that's kind of annoying to deal with. I can only put up with so much annoyance to get an extra 0.5-1% back.


Was the score from the same source? One might have been the advantage score and the other fico. Also remember fico has different scores within itself(fico 2, 8, etc).

Also my 3 scores are similar now but they used to be off by 30 points with experian highest and Equifax lowest. Differense could be which company report was pulled from.


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## Trafficat (Dec 19, 2016)

Mkang14 said:


> Was the score from the same source? One might have been the advantage score and the other fico. Also remember fico has different scores within itself(fico 2, 8, etc).
> 
> Also my 3 scores are similar now but they used to be off by 30 points with experian highest and Equifax lowest


I used to go by whatever Wells Fargo told me my score was, but ever since the Experian breach I've been using Credit Karma

793 Transunion, 807 Equifax

Wells Fargo says Experian is used, and rates me at 811 right now, down from 823 in June.

My credit oscillates like a roller coaster for no apparent reason. I guess it must dip 20 points every time I make a $5000 purchase on my credit card.

I don't know if it can track bank account stuff, but it seems like my credit went down after making cash purchases of 10-20 grand also.


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## Mkang14 (Jun 29, 2019)

Trafficat said:


> I used to go by whatever Wells Fargo told me my score was, but ever since the Experian breach I've been using Credit Karma
> 
> 793 Transunion, 807 Equifax
> 
> ...


It doesn't track bank account.

It's for sure the credit usage and large purchases. Those are the largest dips I've seen myself.


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## Coachman (Sep 22, 2015)

A few years ago I ran my credit report for kicks and the result said... "No recent activity. Presumed deceased." :confusion:


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## Chorch (May 17, 2019)

Coachman said:


> A few years ago I ran my credit report for kicks and the result said... "No recent activity. Presumed deceased." :confusion:


"Presumed a rideshare driver"


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## bsliv (Mar 1, 2016)




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## FLKeys (Dec 27, 2018)

There are thousands of different credit score formulas out there so depending on which one is ran your score can fluctuate by several points. Mine currently is 811, it is down about 20 points because for the last 2 months I have been using my rewards card to buy building materials for my house that I am remodeling. Last month I forgot to pay it off before they report my balance to the credit bureaus so I took a hit for a higher than normal balance. Still pay it off before the due date but that does not matter. It will take several months to come back up.

Statement closes on the 20th of every month.
Payment due by the following 17th.
They report my balance to the credit bureaus 12th of every month.

Ideally I pay it of around the 10th to have the lowest reported balance.


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## G.S.M. (Oct 28, 2019)

Uber's Guber said:


> My FICO score is perfect.
> If your FICO is anywhere between 820 - 850, you're looking great.
> If you have credit cards you don't use, close them out. Otherwise they look like a liability.


Terrible advice

That reduces the age of your open tradelines and also increases your utilization if you carry a balance

Those with top scores have 10s to 100s of thousands of dollars of open accounts that they have kept open for years with a zero balance


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## FLKeys (Dec 27, 2018)

Mkang14 said:


> Oh and another thing to watch out for is if you buy a car make sure they dont run your credit report multiple times.
> 
> I have no idea what they did but when I checked my report I had 4 or 5 hits on my report. Each reducing my score by 2 points. Those stay on there for 2 years.


Most dealerships will send your credit application to multiple banks to be able to provide you with multiple offers. Plus they earn commission on selling you the loan so they will also look and see what bank pays them a better commission. Some auto dealers will not always give you the best rate if they don't make comparable commission from other banks. When running financing through a dealership always tell them you want to see all the offers that came back from their check.

Last time I financed a car they ran 3 checks and provided me with 3 offers. After checking my credit report their were also 3 hard inquiries and 1 soft inquiry from the dealership. This matched the offers they presented me.



troothequalstroll said:


> If you're not buying a house or car it don't matter over 700 will get you any credit you need and if you got lines of credit it doesn't matter unless you want more and over 700 they'll keep sending ya them,.....


Car insurance will also vary based on your credit score. Higher your credit score the better your car insurance rates will be.


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## troothequalstroll (Oct 12, 2019)

FLKeys said:


> Most dealerships will send your credit application to multiple banks to be able to provide you with multiple offers. Plus they earn commission on selling you the loan so they will also look and see what bank pays them a better commission. Some auto dealers will not always give you the best rate if they don't make comparable commission from other banks. When running financing through a dealership always tell them you want to see all the offers that came back from their check.
> 
> Last time I financed a car they ran 3 checks and provided me with 3 offers. After checking my credit report their were also 3 hard inquiries and 1 soft inquiry from the dealership. This matched the offers they presented me.
> 
> ...


I'm covered when apps on ; )

Pay you first lol


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## Johnny Mnemonic (Sep 24, 2019)

My score was about ten points higher than this, but one of my cards wasn't used for over five years and the issuer cancelled it.

If anybody can tell me the advantage of having a 850 score versus an 800 I'm all ears. Otherwise, what's the point?


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## Mkang14 (Jun 29, 2019)

Johnny Mnemonic said:


> View attachment 401204
> 
> 
> My score was about ten points higher than this, but one of my cards wasn't used for over five years and the issuer cancelled it.
> ...


Difference? I can't really think of any. When I bought my house they said above a certain score it's all the same. I want to say 780 or 790 &#129300;.

What's the point? Don't you want to be an overachiever? Come on now &#127775;&#127942;


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## Johnny Mnemonic (Sep 24, 2019)

Mkang14 said:


> Difference? I can't really think of any. When I bought my house they said above a certain score it's all the same. I want to say 780 or 790 &#129300;.
> 
> What's the point? Don't you want to be an overachiever? Come on now &#127775;&#127942;
> View attachment 401207


Whatever you say, Lucy.


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## KingMoMo917 (Jul 22, 2019)

I dont have a credit score. If i cant buy it cash i cant afford it


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## kingcorey321 (May 20, 2018)

12 years ago over 800 today i never payed medical bills of 25 k just to stay over night. or the next 2 times of 18 then 19 grand .
my insurance would not cover it pre existing total bs . that is another story . today i have the best insurance medicade totally free healthcare . i own my house my woman credit score is perfect for car loans when needed. i have a credit card . filed chapter 7 on every medical bill credit card bill everything ,,, today 640 and it dont matter to me. if you just stop working and earn less then 11k a year if your sick or so on you have a lot of great benefits ,


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## Las Vegas Dude (Sep 3, 2018)

KingMoMo917 said:


> I dont have a credit score. If i cant buy it cash i cant afford it


ok Dave Ramsey


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## bobby747 (Dec 29, 2015)

years ago we had 1's. 2's. 3's
and what we call high credits saying home 300k.
it was better than a score. has anyone can get a 700 and have a shit job.
a guy on the job 25 years making great money at say a 690. is better than a young guy at 720. as he has stable income and job


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## SHalester (Aug 25, 2019)

*What's in my FICO® Scores?*

FICO Scores are calculated using many different pieces of credit data in your credit report. This data is grouped into five categories: payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%).










The percentages in the chart reflect how important each of the categories is in determining how your FICO Scores are calculated. The importance of these categories may vary from one person to another-we'll cover that in the next section.

Your FICO Scores consider both positive and negative information in your credit report. Late payments will lower your FICO Scores, but establishing or re-establishing a good track record of making payments on time will raise your credit score.

*The importance of credit categories varies by person*

Your FICO Scores are unique, just like you. They are calculated based on the five categories referenced above, but for some people, the importance of these categories can be different. For example, scores for people who have not been using credit long will be calculated differently than those with a longer credit history.

In addition, as the information in your credit report changes, so does the evaluation of these factors in determining your FICO Scores.

Your credit report and FICO Scores evolve frequently. Because of this, it's not possible to measure the exact impact of a single factor in how your FICO Score is calculated without looking at your entire report. Even the levels of importance shown in the FICO Scores chart above are for the general population and may be different for different credit profiles.

*Your FICO Scores only look at information in your credit report*

Your FICO Score is calculated only from the information in your credit report. However, lenders may look at many things when making a credit decision, such as your income, how long you have worked at your current job, and the kind of credit you are requesting.


What do FICO Scores ignore?
What's in my credit report?
*What categories are considered when calculating my FICO Score?*
*Payment history (35%)*

The first thing any lender wants to know is whether you've paid past credit accounts on time. This helps a lender figure out the amount of risk it will take on when extending credit. This is the most important factor in a FICO Score.

Be sure to keep your accounts in good standing to build a healthy history.

Learn more about payment history

*Amounts owed (30%)*

Having credit accounts and owing money on them does not necessarily mean you are a high-risk borrower with a low FICO Score. However, if you are using a lot of your available credit, this may indicate that you are overextended-and banks can interpret this to mean that you are at a higher risk of defaulting.

Learn more about amounts owed

*Length of credit history (15%)*

In general, a longer credit history will increase your FICO Scores. However, even people who haven't been using credit for long may have high FICO Scores, depending on how the rest of their credit report looks.

Your FICO Scores take into account:


How long your credit accounts have been established, including the age of your oldest account, the age of your newest account and an average age of all your

accounts
How long specific credit accounts have been established
How long it has been since you used certain accounts
Learn more about length of credit history
*Credit mix (10%)*
FICO Scores will consider your mix of credit cards, retail accounts, installment loans, finance company accounts and mortgage loans. Don't worry, it's not necessary to have one of each.
Learn more about credit mix
*New credit (10%)*
Research shows that opening several credit accounts in a short amount of time represents a greater risk-especially for people who don't have a long credit history. If you can avoid it, try not to open too many accounts too rapidly.
Learn more about new credit

*Credit education videos*


What goes into FICO® Scores


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## Coastal_Cruiser (Oct 1, 2018)

Alaskans carry the highest credit card balance—here's the average credit card balance in every state


Select reviews the average credit card balance in every state from the 2019 Experian Consumer Credit Review. Do you have a balance on your credit card? We've also got some advice on how to get out of debt.




www.cnbc.com





Average credit card balance by state


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## SHalester (Aug 25, 2019)

850, for the moment. Once you have 'perfect' credit any action will knock it down. An example I pay off credit cards each month to avoid interest. The stmt ending balance is reported to the credit co's. They see a balance go up, splat number goes down, even tho balance is paid off monthly. 
AND btw the credit scores for an auto loan are not the same as say a mortgage. Much much easier to score great interest rate with an auto loan.


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## Gilby (Nov 7, 2017)

Las Vegas Dude said:


> ok Dave Ramsey


 Beans and rice!


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## Johnny Mnemonic (Sep 24, 2019)

Gilby said:


> Beans and rice!


And don't forget rice and beans.


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## June132017 (Jun 13, 2017)

I have a credit score? Wahoo!


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## Gilby (Nov 7, 2017)

Johnny Mnemonic said:


> And don't forget rice and beans.


Better than I deserve.


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## Johnny Mnemonic (Sep 24, 2019)

KingMoMo917 said:


> I dont have a credit score. If i cant buy it cash i cant afford it


I've thought about doing the same. Have you never had a score, or did you close your accounts and let it age out? The only thing I wasn't able to do with a debit card was rent a car, and that was ten years ago.


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## Coastal_Cruiser (Oct 1, 2018)

bobby747 said:


> years ago we had 1's. 2's. 3's
> and what we call high credits saying home 300k.
> it was better than a score. has anyone can get a 700 and have a shit job.
> a guy on the job 25 years making great money at say a 690. is better than a young guy at 720. as he has stable income and job


You may have a point there. Consumer debt is at/near all time high of 13+ trillion...

https://www.experian.com/blogs/ask-experian/research/consumer-debt-study/
whilst the average credit score has reached an all time high of 703...

https://www.cnbc.com/select/average-fico-score-hits-record-high-703/


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## sellkatsell44 (Oct 25, 2015)

FLKeys said:


> Most dealerships will send your credit application to multiple banks to be able to provide you with multiple offers. Plus they earn commission on selling you the loan so they will also look and see what bank pays them a better commission. Some auto dealers will not always give you the best rate if they don't make comparable commission from other banks. When running financing through a dealership always tell them you want to see all the offers that came back from their check.
> 
> Last time I financed a car they ran 3 checks and provided me with 3 offers. After checking my credit report their were also 3 hard inquiries and 1 soft inquiry from the dealership. This matched the offers they presented me.
> 
> ...


Despite what people think, running your report multiple times within the same span (30 days) will NOT negatively impact your score.

they're suppressed to count as one but show up each and every single one of course, but calculation wise, it counts as one.

biggest factors of your credit score is utilization, on time payment (if you must leave a balance at least pay the minimum due or more on due date), history established (longer is better obv), the revolving credit balance vs the amount available, types of line of credit...

currently I'm using less than 5%, have over 100k of credit available spread between 4 cards and one Amex charge card for a total of 5 but only two are really daily drivers.

If you have a card that is not really in use, rather then canceling it, put a small revolving cost on it eg Netflix. Have that card auto pay from your checking account automatically. Set alerts on the card so you don't have to have paper statements or consistently check in to make sure that's the only charge on the card and that it's paid...


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## KingMoMo917 (Jul 22, 2019)

Johnny Mnemonic said:


> I've thought about doing the same. Have you never had a score, or did you close your accounts and let it age out? The only thing I wasn't able to do with a debit card was rent a car, and that was ten years ago.


It works for me, i had one at one point when i was younger. I just dont care about credit anymore. Being debt free is a great feeling. And no im not rich by any means. just smart with money


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## FLKeys (Dec 27, 2018)

KingMoMo917 said:


> It works for me, i had one at one point when i was younger. I just dont care about credit anymore. Being debt free is a great feeling. And no im not rich by any means. just smart with money


I agree, being debt free is great. Trust me I'm not rich by any means, I lived the debt life and finally realized how much in interest I was pissing away. Busted my butt to get out of debt and love it. I still have credit cards 6 in fact. One rewards card that I use daily, the others are just left over and get used once every 6 months just to keep active.

I don't use my debit card, I am in a hot spot for criminal skimmer use. My credit card gets compromised 2-3 times a year. Much easier to deal with a compromised credit card than a compromised debit card.

I know cash is king, just can't get my self to carry it any more. Plus the rewards card I use makes me money.


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## UStaxman (Aug 14, 2016)

Mkang14 said:


> Oh and another thing to watch out for is if you buy a car make sure they dont run your credit report multiple times.
> 
> I have no idea what they did but when I checked my report I had 4 or 5 hits on my report. Each reducing my score by 2 points. Those stay on there for 2 years.


I have worked in Consumer Finance since 1998:
Multiple inquiries for same purchase (car dealer for example) within 24 hour period are counted as '1' inquiry on your credit.
- allows for couple dealer inquiries (to determine where to send your application and each bank enabling you to 'shop for favorable terms'.


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## FLKeys (Dec 27, 2018)

UStaxman said:


> I have worked in Consumer Finance since 1998:
> Multiple inquiries for same purchase (car dealer for example) within 24 hour period are counted as '1' inquiry on your credit.
> - allows for couple dealer inquiries (to determine where to send your application and each bank enabling you to 'shop for favorable terms'.


I agree, however my last car purchase the credit reports were all ran on the same day but were listed as different types:

1st: Misc - Credit Plus
2nd: Finance - TD Auto Finance
3rd: Bank - Valley National Bank
4th: Automotive - Car Dealership - Listed as Soft inquiry

Is this treated as 1 inquiry or 3? I want to say my credit score took a 16 point drop after the 4 inquiries showed up. This leads me to believe it was treated as 3 inquiries. It recovered back to where it was in 3-4 months.


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## UStaxman (Aug 14, 2016)

FLKeys said:


> I agree, however my last car purchase the credit reports were all ran on the same day but were listed as different types:
> 
> 1st: Misc - Credit Plus
> 2nd: Finance - TD Auto Finance
> ...


In your case it should be treated as '1' inquiry
'Soft' inquires do not effect score because the only one who can see those are you.

The impact on your score can vary depending on several variables and your overall credit (typically the lower your scores the larger the impact).


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## Mkang14 (Jun 29, 2019)

Jon Stoppable said:


> I have worked in Consumer Finance since 1998:
> Multiple inquiries for same purchase (car dealer for example) within 24 hour period are counted as '1' inquiry on your credit.
> - allows for couple dealer inquiries (to determine where to send your application and each bank enabling you to 'shop for favorable terms'.


 Not in my case. All inquiries were listed seperate. It also showed the 2 year date for for each to be removed. Best believe these were all questioned when I was in the process of buying a house which sucked.


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## UStaxman (Aug 14, 2016)

Mkang14 said:


> Not in my case. All inquiries were listed seperate. It also showed the 2 year date for for each to be removed. Best believe these were all questioned when I was in the process of buying a house which sucked.


Each inquiry is itemized separately; impact to credit score is grouped together to count as one inquiry.


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## Johnny Mnemonic (Sep 24, 2019)

KingMoMo917 said:


> Being debt free is a great feeling.


Yep.
I used to have five figure credit card debt. Now, zero.

I posted an article earlier in the thread that someone who is debt free and has a dollar in their pocket is richer than almost 1 in 6 households in the US.


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## tohunt4me (Nov 23, 2015)

Johnny Mnemonic said:


> I've thought about doing the same. Have you never had a score, or did you close your accounts and let it age out? The only thing I wasn't able to do with a debit card was rent a car, and that was ten years ago.


Hertz airport rents on my Debit card.for 2 decades.
Most will not though.
Dont think they do this for everyone.


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## 5☆OG (Jun 30, 2019)

is it a bad thing if i weigh more then my credit score?


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## FLKeys (Dec 27, 2018)

5☆OG said:


> is it a bad thing if i weigh more then my credit score?


Your just big boned. :thumbup:


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## Coastal_Cruiser (Oct 1, 2018)

I've always thought it was kind of a gyp that simply _applying_ for a loan can lower your score. Its kind of like a Minority Report pre-crime sort of thing. After all, your score is going to drop anyway if you follow through upon being accepted, and your utilization goes up.


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## 5☆OG (Jun 30, 2019)

there are only two instances that you need a good credit score...when you are buying a home and when you are trying to nail the prom queen


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## FLKeys (Dec 27, 2018)

Coastal_Cruiser said:


> I've always thought it was kind of a gyp that simply _applying_ for a loan can lower your score. Its kind of like a Minority Report pre-crime sort of thing. After all, your score is going to drop anyway if you follow through upon being accepted, and your utilization goes up.


Ask the actuaries that spend all day crunching numbers and statistics. I once read an Actuary is part super hero, part fortune teller, and part trusted adviser.



5☆OG said:


> there are only two instances that you need a good credit score...when you are buying a home and when you are trying to nail the prom queen


Outside of California, Hawaii or Massachusetts your credit score can impact your insurance rates. Studies have shown people with lower credit scores tend to have worse driving records.


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## Coastal_Cruiser (Oct 1, 2018)

FLKeys said:


> I once read an Actuary is part super hero, *part fortune teller*, and part trusted adviser.


Like I said... PRE-crime. Ha ha.


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## tohunt4me (Nov 23, 2015)

Coastal_Cruiser said:


> Like I said... PRE-crime. Ha ha.


Just wait.
Now that Government is Taking Over Healthcare.

Pre - Crime will be the Norm.


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## CarpeNoctem (Sep 12, 2018)

Uber's Guber said:


> My FICO score is perfect.
> If your FICO is anywhere between 820 - 850, you're looking great.
> If you have credit cards you don't use, close them out. Otherwise they look like a liability.


I have to disagree on this. It is better to have accounts or CC's open for a long time. The longer an account is open the better. Also, if you have a high credit limit on them it makes your use-to-limit ratio much better. It makes you look more credit worth.

I will give you there is a point. If you have some crazy amount of credit cards then they could ding your score for those. Just like they don't want to see you apply for a lot of CC's or credit in a bunch of different places in a short time frame.

When you go to apply for a job, some companies will want to pull a credit report. The company I work for did it for a while.

That is a raw deal as it is likely that someone really *needs* a job because of debt and the companies don't want to hire people with low credit scores.

If I'm not mistaken, Uber requested permission to pull a credit report. I'm not sure they did but it would not surprise me.


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## Uber's Guber (Oct 22, 2017)

CarpeNoctem said:


> If I'm not mistaken, Uber requested permission to pull a credit report. I'm not sure they did but it would not surprise me.


Uber likely did request permission to pull credit histories as a formality, but I doubt Uber used that information to hire/deny applicants to their platform; I've met way too many rideshare drivers who have been upside down financially their whole lives, and there's no way we'd be seeing all this ant-saturation overload we're experiencing now if credit-worthiness was an actual qualifier. &#129320;


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## Trafficat (Dec 19, 2016)

Uber's Guber said:


> Uber likely did request permission to pull credit histories as a formality, but I doubt Uber used that information to hire/deny applicants to their platform; I've met way too many rideshare drivers who have been upside down financially their whole lives, and there's no way we'd be seeing all this ant-saturation overload we're experiencing now if credit-worthiness was an actual qualifier. &#129320;


It might be seen as a bad thing if your credit is too good. If your credit is good, you might make wise financial decisions. If your driving record isn't that great, maybe they'll run a credit check and if the credit is bad, they might think, well, this guy could be a great ant if we look that aside. They need the hustlers out there converting their car value into liquidity to cover all those unnecessary expenses that prevent them from paying their bills on time.

Okay, probably not. My guess is that the credit checks actually have to do with the Uber Rental/Lease programs.


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## Diamondraider (Mar 13, 2017)

Coastal_Cruiser said:


> Most excellent!
> 
> There of course was a time when you had to pay to know just your report (sans credit score), unless you were denied credit. Then a law was passed allowing us to get the report for free once a year (freecreditreport.com negates the need to contact each of the Big Three agencies). But then you had to pay to know your score. Now some entities are even allowing free access to your credit score. I get mine via my Capital One credit card.
> 
> Also, if you were part of the Equifax data breech, part of the settlement is to get your score once a month for free.


CreditKarma is free and excellent


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## Amsoil Uber Connect (Jan 14, 2015)

Mkang14 said:


> I tried Credit Karma and those free sites and I didnt trust they provided me the right info. Plus a lot of them provided Advantage score and not FICO.
> 
> I know the bank cards provide credit score too. But. since I bought a house last year i dont go all crazy monitoring my score like i use to.


Do you fell safer having your Slave Tracking Number all over the dam place ? Cause that never goes away. Oh to late.

Good.

Here is a short story. B4 I read the rest of this. Way back in 1980 when I applied for my first C card. I added Sr. to my name. To this very day I still get some mail with SR after my name. I only did it once too. 40 freaking years later !!!

Plus on your minimum balance payment and a dollar to it, Most times raises the score by 1 point most months. I round it up to the next 5 or 10 dollar amount. Example if it's say 127, pay 130.

I'm wondering how many Seniors are racking up there cards b4 they check out ?

Any data on that ?


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## Seamus (Jun 21, 2018)

Coastal_Cruiser said:


> What is the average credit rating of an Uber driver? Feel free to post yours anonymously.


So on your poll almost 60% of drivers claim to have a credit score of 720 or higher. Last fall, it was reported that the national average of 706 was an all time high. If your poll is accurate then 60+ % of U/L drivers are significantly above the national average. Could that really be true?


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## Coastal_Cruiser (Oct 1, 2018)

Seamus said:


> So on your poll almost 60% of drivers claim to have a credit score of 720 or higher. Last fall, it was reported that the national average of 706 was an all time high. If your poll is accurate then 60+ % of U/L drivers are significantly above the national average. Could that really be true?


I was a little taken aback by the stats too.

But, the poll is of course not accurate. The sample size is too small, and as has been pointed out to me, UP members are not fully representative of the broad rideshare driver population. I assume we are more educated and dare I say, more intelligent.

Or as Stuart Smalley of Saturday Night Live used to say: "Were good enough, we're smart enough, and doggonit people like us!"


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## 5☆OG (Jun 30, 2019)

Seamus said:


> So on your poll almost 60% of drivers claim to have a credit score of 720 or higher. Last fall, it was reported that the national average of 706 was an all time high. If your poll is accurate then 60+ % of U/L drivers are significantly above the national average. Could that really be true?


I call bs


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## sellkatsell44 (Oct 25, 2015)




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## Bubsie (Oct 19, 2017)

Seamus said:


> So on your poll almost 60% of drivers claim to have a credit score of 720 or higher. Last fall, it was reported that the national average of 706 was an all time high. If your poll is accurate then 60+ % of U/L drivers are significantly above the national average. Could that really be true?


A lot of the free credit score numbers from Cap 1, Mint etc give a fair bit higher number than a "real" FICO score would.

To maximize your score before applying for a loan etc, pay all your credit card balances down to zero, except one. For that one card that you let report a balance, keep it under 9% util.

Keep in mind age of oldest account, average age of accounts and age of newest account are also factors so definitely take that into consideration before closing old accounts/opening new ones.


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## NASCAR3 (Jan 15, 2020)

wow, good thing only screen names here. Google indexes this forum like in realtime. What people will post. -o:


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## Coastal_Cruiser (Oct 1, 2018)




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## goneubering (Aug 17, 2017)

I haven't checked my rating for a while but I think this is still accurate.


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## Coastal_Cruiser (Oct 1, 2018)

FICO plans significant update to its popular credit scoring system.

https://www.zerohedge.com/political...y-affect-credit-scores-effort-reduce-defaults
Executive Summary: If you pay your bills in a timely manner your score will be adjusted up. If you don't pay your bills in a timely manner your score will be adjusted down. Plus, those with $400+ in "bank account" and no overdrafts will get a bump.


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## Benjamin M (Jul 17, 2018)

Mine is horrible. But it's not because I drive, it was horrible prior to that.

I could write an essay on the reasons why. Short version - shit happens. Wife had tons of issues and then I did. Then we moved to the city, astronomical cost of living.

So easy to fall behind.

Oh, and two years ago, it was great.


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## uberist (Jul 14, 2016)

Pre approved 80k personal loan offer just got shreaded. Dont need need the 19% interest or that kind of debt.


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## gooddolphins (Apr 5, 2018)

0.000


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## uberist (Jul 14, 2016)

G.S.M. said:


> Terrible advice
> 
> That reduces the age of your open tradelines and also increases your utilization if you carry a balance
> 
> Those with top scores have 10s to 100s of thousands of dollars of open accounts that they have kept open for years with a zero balance


I use my card everyday and pay them off every monday, i never let them get over 10% on them.

Canceling cards def will lower your score.


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## Pax_Buster (Apr 2, 2019)

This is what Credit Karma and Capital One are telling me, I am sure it is BS. But my score shouldn't be less than 760. Three years ago Toyota dealership told me my score was 720. Dealerships know the true score.


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## Mkang14 (Jun 29, 2019)

Pax_Buster said:


> This is what Credit Karma and Capital One are telling me, I am sure it is BS. But my score shouldn't be less than 760. Three years ago Toyota dealership told me my score was 720. Dealerships know the true score.
> 
> View attachment 435354
> View attachment 435356


Theres a FICO and advantage score. FICO is what usually matters. Many of these free companies report advantage.

What you mentioned is why I dont trust credit karma. I use to pay for Experian. Has an app and everything. It was very accurate when I went through the process if buying a house. I cancelled now because sidnt want to pay anymore.


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## Pax_Buster (Apr 2, 2019)

Mkang14 said:


> Theres a FICO and advantage score. FICO is what usually matters. Many of these free companies report advantage.
> 
> What you mentioned is why I dont trust credit karma. I use to pay for Experian. Has an app and everything. It was very accurate when I went through the process if buying a house. I cancelled now because sidnt want to pay anymore.


I can't afford $20 to get my credit score. $20 is like $200 these days, thanks to the Chinese virus. :cryin:


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## Bubsie (Oct 19, 2017)

FICO scores used by auto dealers will differ from your mortgage FICOs etc. I think it's called FICO beacon, it focuses more on your previous auto loan history/performance.


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## FLKeys (Dec 27, 2018)

FICO has over 60 different versions of their credit score model. Then there are 3 other popular score models, Vantage, Plus Score, and CreditXpert.

You could get your credit score from multiple places at any given time and get different results from each one.

2 Years ago when I got a loan my Credit Karma score was with in a few points of the score the loan company generated. That was close enough for me.


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## Ubertool (Jan 24, 2020)

Pretty good for now , check back with everyone in a year😁


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## Mkang14 (Jun 29, 2019)

Bubsie said:


> FICO scores used by auto dealers will differ from your mortgage FICOs etc. I think it's called FICO beacon, it focuses more on your previous auto loan history/performance.


There are different scores within fico. I had the $20 subscription to Experian so was able to see my scores used for auto, morgage, etc. It was surprisingly accurate.


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## losiglow (Dec 4, 2018)

I recently got an auto loan and the loan officer said my credit is good enough to get the best rate. That's all that matters to me. 

Otherwise, I rarely borrow money. All I have is an auto loan and mortgage.


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## got a p (Jan 27, 2018)

fico is in a anti-trust lawsuit at the moment.


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## sellkatsell44 (Oct 25, 2015)

As long as I keep getting these, I'm all set. (Have them for auto and ccs too... where I'm approved not just prequalified).

This is a somewhat recent one


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## got a p (Jan 27, 2018)

wait until houses are 1/2 price 👍


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## sellkatsell44 (Oct 25, 2015)

got a p said:


> wait until houses are 1/2 price &#128077;


My mom brought behind my back in 2008, I mean in this sense she didn't tell me but I guess our relationship isn't like that where she shares financials with me... still parent/child. You can imagine how I felt once everything was already closed.

I wish she had looped me in and I would have told her to wait. She never has had to worry about getting the loan as she's a saver and always had excellent credit. She of course refi within a year for the rate drop but the property drop was nothing we could do...luckily SF county is one that doesn't fluctuate much but still somewhat frustrating.


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## Ben4given (Jan 26, 2020)

Coastal_Cruiser said:


> What is the average credit rating of an Uber driver? Feel free to post yours anonymously.


I proudly have a zero credit rating, having been out of debt since 1994.
A credit score simply tells how much one stays in debt. "Manual Underwriting," thanks to advice from Dave Ramsey, makes a world of difference where (as he says) "Debt is dumb, and cash is king." Oh, you can also drive free cars for life.


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## sellkatsell44 (Oct 25, 2015)

Ben4given said:


> A credit score simply tells how much one stays in debt.


&#129299;

I always pay my debts within 28 calendar days before the APR hits.

employers look at your credit these days too. ESP in my line of work - I can't have judgements, bankruptcies, or anything of the sort-ever.


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## FLKeys (Dec 27, 2018)

Ben4given said:


> I proudly have a zero credit rating, having been out of debt since 1994.
> A credit score simply tells how much one stays in debt. "Manual Underwriting," thanks to advice from Dave Ramsey, makes a world of difference where (as he says) "Debt is dumb, and cash is king." Oh, you can also drive free cars for life.


Having a great credit score does not mean you have to carry a debt. Having a great credit score helps you get better insurance rates on your auto policy. Using rewards cards and paying them off monthly puts extra money in my pocket.


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## waldowainthrop (Oct 25, 2019)

FLKeys said:


> Having a great credit score does not mean you have to carry a debt. Having a great credit score helps you get better insurance rates on your auto policy. Using rewards cards and paying them off monthly puts extra money in my pocket.


Yeah, it is obviously more trustworthy to have a debt and pay it immediately because it gives you credibility to a lender. If you _never borrow, _how is a future lender supposed to know whether you would pay a loan back in a responsible way? This is literally what credit means: they _believe_ you will pay them back.

If someone carries debt that is too high for too long, or of course if they cannot pay a debt at all for a time, then they will have bad credit. Creditworthiness just means you can probably keep up your end of a bargain, according to an algorithm.

If you want to build "credit", pay small amounts on a small amount of credit that you can easily pay off. You're not even "indebted" because you don't carry a balance. It's the same as paying cash, but you are telling a middleman that you are to be trusted with a loan in the future, should you want or need to.


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## _Tron_ (Feb 9, 2020)

I just went from zero debt to perhaps 10K. Prepping for post-corona economy. Topping off food, supplies, solar system addition. My credit rating will take the expected hit, but plan to have it normalized by the time I need the high rating for a purchase.


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## Elland Rd (Feb 26, 2020)

waldowainthrop said:


> Yeah, it is obviously more trustworthy to have a debt and pay it immediately because it gives you credibility to a lender. If you _never borrow, _how is a lender supposed to know whether you would pay a loan back in a responsible way? This is literally what credit means: they _believe_ you will pay them back.


But if someone has never borrowed, it would indicate they're a financially responsible person. Credit scores, like many such metrics, don't always align with how a person familiar with all the details of an individual situation would view things.


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## sellkatsell44 (Oct 25, 2015)

Elland Rd said:


> But if someone has never borrowed, it would indicate they're a financially responsible person.


No.

this is incorrect.

if someone has no record of borrowing-it doesn't mean they're financially responsible.

just because you don't have a track record doesn't mean you'll be a perfect candidate.

this is some backwards thinking.

not to mention, pple can have their slate wiped clean. So actually if you're in your late twenties to forties and even beyond... with no record... they will not think, oh, this person has perfect record. I mean they could have declared bankruptcy for all you know- and someone whose old? Most likely.

And that person will have a harder chance getting approved then someone who has a 650, less than stellar credit report.

Speaking from experience of seeing people of both and more ^ apply for credit cards, auto loans, mortgages... and as a banker who got $$$$ from closing deals, I always want to close.


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## Elland Rd (Feb 26, 2020)

sellkatsell44 said:


> No.
> 
> this is incorrect.
> 
> ...


I never said it 'meant' anything. Nor did I say they were a 'perfect candidate'. My words were 'it would indicate'. There's a difference.


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## XLnoGas (Dec 20, 2019)

My credit is dipping like dip n dots


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## Mkang14 (Jun 29, 2019)

_Tron_ said:


> I just went from zero debt to perhaps 10K. Prepping for post-corona economy. Topping off food, supplies, solar system addition. My credit rating will take the expected hit, but plan to have it normalized by the time I need the high rating for a purchase.


Zero debt must have been nice while it lasted. I've never been debt free but have come so close many times, then boom large purchase.

I guess now it will be even longer because just bought a home.

How much I owe is decreasing every month so that's a good sign. But of course the next big purchase will hit.

Really is a vicious cycle &#129300;


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## sellkatsell44 (Oct 25, 2015)

Elland Rd said:


> I never said it 'meant' anything. Nor did I say they were a 'perfect candidate'. My words were 'it would indicate'. There's a difference.


Lol. What does 'indicate' mean?
My bad, yes you didn't say 'perfect candidate' you said

"financially responsible person."

tell me how does a lack of record do _*that*_.

&#129315;&#129315;&#129315;&#129315;&#129315;&#129315;

anyone who thinks like you... well... I'm sorry, can't be someone who is thinking clearly when it comes to credit.


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## _Tron_ (Feb 9, 2020)

Mkang14 said:


> Zero debt must have been nice while it lasted. I've never been debt free but have come so close many times, then boom large purchase.
> 
> I guess now it will be even longer because just bought a home.


Owning a home is massive. It's awesome that you pulled that off as a single mom.

It is a wonderful feeling zeroing out your balances every month. However, this is a new age. I purposefully went into debt on the basis it may be easier to service my debt then to purchase real things in the near to mid future.

You know, there is a body of thought that it has been best to be debt free these past few years (post financial crisis). That has never made sense to me. For example right now we are seeing central banks (ours being the Federal Reserve) enlarge the money supply at an unheard of rate. Although no one can say for sure (believe me when I say that) this _monetary_ inflation may lead to _price_ inflation. If so, it's great to be in debt and pay off your debts with ever cheapening dollars.

Conversely, one has to be employed to be able to service their debts. Layoffs are rising so that is a danger. But here again... new age. Debt defaults could become so ubiquitous that some sort of never-before-seen mass debt forgiveness, or, relief via State action may mitigate personal debt.

No one can see the future but I feel very comfortable being in debt in these times.


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## FLKeys (Dec 27, 2018)

Mkang14 said:


> Zero debt must have been nice while it lasted. I've never been debt free but have come so close many times, then boom large purchase.
> 
> I guess now it will be even longer because just bought a home.
> 
> ...


Many years ago I knew that vicious cycle very well. Get credit cards paid down and bang unexpected repair or purchase needed and on the credit card it went. When I started tracking my actual expenses every day and saw how much I was paying in interest every month I decided that I could not continue on that way any more. By tracking my expenses I saw obvious ways to cut back and save. Ultimately I made several cut backs and used half that money to add to what I was paying down on my debts. I took the other half and stashed it away for my next unexpected major repair or purchase. It worked for me I got my credit cards paid off and had some savings to handle any unexpected expenditures. Next I worked on paying off my car while adding to the savings. Then finally I paid off my house 5 years early. It's a great feeling. It was hard I had to without many items I wanted nut did not need. I had to stop eating out and make all my meals. It was a lifestyle change basically living within my means. I'm happy I did it, now I even able to put money away for retirement.


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## _Tron_ (Feb 9, 2020)

So, I just went from zero credit usage to 10-12K usage. Also applied for and was granted a Home Depot credit card.

These two actions triggered a 20 point drop in the score.


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## Bubsie (Oct 19, 2017)

What is your percent in overall util with the revolving balances increasing by 12k? 20 point drop sounds about right for a new account, should recover that in 12 months.


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## _Tron_ (Feb 9, 2020)

Turns out it is closer to 13K. That is a 24% usage on my profile. So yeah, 20 point drop for that and a new card ain't too bad.


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## jeanocelot (Sep 2, 2016)

I know someone very well that had about $150K in unsecured debt and a credit score of 730. Right after that he quit paying them off and ended up getting all the debt discharged in bankruptcy. His score dropped to about 550.


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## ABC123DEF (Jun 9, 2015)

Mkang14 said:


> Was the score from the same source? One might have been the advantage score and the other fico. Also remember fico has different scores within itself(fico 2, 8, etc).
> 
> Also my 3 scores are similar now but they used to be off by 30 points with experian highest and Equifax lowest. Differense could be which company report was pulled from.


Do scores vary much between Advantage and FICO?



tohunt4me said:


> Hertz airport rents on my Debit card.for 2 decades.
> Most will not though.
> Dont think they do this for everyone.


Enterprise neighborhood locations will do it for a $200 deposit block on your debit account. Also, you have to have proof of your most current cell, cable, or electric bill in your name with no past due balances.


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## Mkang14 (Jun 29, 2019)

ABC123DEF said:


> Do scores vary much between Advantage and FICO?


I can't remember the last time I saw my Vantage score but it was a really long time ago, when I was still building my credit history. It was always a lot higher then my FICO.


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## FLKeys (Dec 27, 2018)

ABC123DEF said:


> Do scores vary much between Advantage and FICO?


When I got a car loan in early 2018 my Credit Karma Vantage scores were within 3-5 points of the banks FICO credit score. It really depends on what model of FICO score the lender is using, there are so many different versions that can give different results.


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## Mkang14 (Jun 29, 2019)

FLKeys said:


> When I got a car loan in early 2018 my Credit Karma Vantage scores were within 3-5 points of the banks FICO credit score. It really depends on what model of FICO score the lender is using, there are so many different versions that can give different results.


Mine was always off by over 50 points, at least. I just did a search and found the following. I was checking the earlier versions when Vantage ranged up to 990. But it looks like the new version of the score only goes to 850.










Honestly the vantage score is just annoying. In my mind its equivalent to Uber badges &#129325;. Its nice and pretty but has no value. Stick with checking Fico.


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## TomTheAnt (Jan 1, 2019)

So... According to this extremely non-scientific poll, over 60% of UP.net member who voted are well over the average American score of 682 (according to Experian).

In addition to being able to vote what ever the hell you want, there’s plenty of variation between the scores, the bureaus and what ever.

But I’m sure everybody has been 100% honest when voting. Right? :whistling:


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## waldowainthrop (Oct 25, 2019)

TomTheAnt said:


> So... According to this extremely non-scientific poll, over 60% of UP.net member who voted are well over the average American score of 682 (according to Experian).
> 
> In addition to being able to vote what ever the hell you want, there's plenty of variation between the scores, the bureaus and what ever.
> 
> But I'm sure everybody has been 100% honest when voting. Right? :whistling:


I think the issue is a selection bias for who reads this site and who decides not to vote. People with poor credit scores often don't want to or need to look, whereas people who are doing better or want to improve their credit game are keeping close track.

The average member here (who posts regularly) is probably quite a bit better off than the average rideshare driver.

My guess is that the real average rideshare driver has a score more like 620.

My actual credit score is in the "good" but not excellent range, since I had a credit problem years ago that is since resolved. I'm probably lower rated than half the people who voted on this poll, but trending back towards excellent again soon.


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## sellkatsell44 (Oct 25, 2015)

waldowainthrop said:


> I think the issue is a selection bias for who reads this site and who decides not to vote. People with poor credit scores often don't want to or need to look, whereas people who are doing better or want to improve their credit game are keeping close track.
> 
> The average member here (who posts regularly) is probably quite a bit better off than the average rideshare driver.
> 
> ...


Mine has always hovered over 800 or just below, due to lack of range in credit (I've never had auto loan or mortgage only cc) but my length of credit is good since I've had it established for me since 16, so about a few over a decade.. and my utilization is excellent since I always keep it in the low single digit (always asking for credit line increases even though the most expensive purchase I've made is for school tuition and even that's only $3-4k).


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## ABC123DEF (Jun 9, 2015)

sellkatsell44 said:


> Mine has always hovered over 800 or just below, due to lack of range in credit (I've never had auto loan or mortgage only cc) but my length of credit is good since I've had it established for me since 16, so about a few over a decade.. and my utilization is excellent since I always keep it in the low single digit (always asking for credit line increases even though the most expensive purchase I've made is for school tuition and even that's only $3-4k).


So now the FICO scores are ranging between 250 and 900?! -o:


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## sellkatsell44 (Oct 25, 2015)

ABC123DEF said:


> So now the FICO scores are ranging between 250 and 900?! -o:


&#129335;&#127995;‍♀ That's what Citi showed me.

I always pay my bills before it's due.









It's not my main driver anymore but I had it since I was 16 and there's no annual fee so I just let a bill auto charge on it to keep statements generating.


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## Trafficat (Dec 19, 2016)

Wow, $19500 is a pretty high limit for a credit card.


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## waldowainthrop (Oct 25, 2019)

Trafficat said:


> Wow, $19500 is a pretty high limit for a credit card.


I've had a limit nearly that high on cards before (and of course never touched it). They want you to spend it. My card that I got in high school ballooned from $5000 or maybe even less to $16000+ with no action on my part besides paying it down.

I've never asked for a credit limit increase on a card and gotten them anyway. Early 2000s boom times was part of it?


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## sellkatsell44 (Oct 25, 2015)

Trafficat said:


> Wow, $19500 is a pretty high limit for a credit card.


I can't tell sacrasm on Internet very well &#128517; but actually it's not that high.

ive seen credit cards with limits of up to $300k but at 6.9% apr tells me it's old and then I confirmed as the cc was opened in the 80s. I guess the bank (one of the big four) never lowered the guys limit or changed his apr which is grandfathered in.


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## Mkang14 (Jun 29, 2019)

waldowainthrop said:


> I've had a limit nearly that high on cards before (and of course never touched it). They want you to spend it. My card that I got in high school ballooned from $5000 or maybe even less to $16000+ with no action on my part besides paying it down.


Same here. I think it's a result of being a good longtime customer(payments on time) and maintaining a great score.


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## Trafficat (Dec 19, 2016)

sellkatsell44 said:


> I can't tell sacrasm on Internet very well &#128517; but actually it's not that high.
> 
> ive seen credit cards with limits of up to $300k but at 6.9% apr tells me it's old and then I confirmed as the cc was opened in the 80s. I guess the bank (one of the big four) never lowered the guys limit or changed his apr which is grandfathered in.


Nope, no sarcasm. My credit cards have limits between $1000 and $5000.

$300K is even more impressive. You could buy a cheap house with that in Reno.



Mkang14 said:


> Same here. I think it's a result of being a good longtime customer(payments on time) and maintaining a great score.


I've never missed a payment, and always had a score over 750 as far as I know. I've had some of my credit cards for about 15 years.


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## Mkang14 (Jun 29, 2019)

Trafficat said:


> I've never missed a payment, and always had a score over 750 as far as I know. I've had some of my credit cards for about 15 years.


I had smaller increases over time but huge jumps came when my credit score hit 800+

Also something to consider would be how much yearly income you list to the credit card companies (not sure if that matters, but may).

Also one of my dads houses is partially under my name before I bought my current home. I think that helped push my credit score over 800, which then helped increase my credit limit.


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## sellkatsell44 (Oct 25, 2015)

Trafficat said:


> Nope, no sarcasm. My credit cards have limits between $1000 and $5000.
> 
> $300K is even more impressive. You could buy a cheap house with that in Reno.
> 
> ...


yeah, I helped a man wire a little over $100k for a one bedroom condo in san bruno, this was shortly (about a year) after the pipeline. no loan. full cash.

he got a sweet deal.

you can always ask for increases. I just don't like having to have high utilization, and so I always ask for increase on my main driver(s), the Citi was just increased automatically, probably because they want me to use it more.

it's just credit. not money. to me it matters naught but one day I do hope to be able to charge more then a $4k school tuition. but I'm always thrifty 

I'm just shy of where you are for history but, for the longest time I never had more then 3 cc. now I'm up to 6, 7 if you count the one that is suppose to be closed but hasn't fallen off my online login yet...


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## Mkang14 (Jun 29, 2019)

waldowainthrop said:


> My guess is that the real average rideshare driver has a score more like 620.


CF? Is that you &#128523;


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## doyousensehumor (Apr 13, 2015)

Mkang14 said:


> CF? Is that you &#128523;


No CF would estimate the average RS driver has a score of around 400 &#128077;


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## Mkang14 (Jun 29, 2019)

doyousensehumor said:


> No CF would estimate the average RS driver has a score of around 400 &#128077;


My daughter has an obsession with one of my storage closests. Today she managed to get in there. I got her out but she kept saying teddy bear. There was a clear storage bin and I saw this at the bottom. No idea where we got this from ❤


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## doyousensehumor (Apr 13, 2015)

Mkang14 said:


> My daughter has an obsession with one of my storage closests. Today she managed to get in there. I got her out but she kept saying teddy bear. There was a clear storage bin and I saw this at the bottom. No idea where we got this from.
> View attachment 443296


&#128029; bzzz bzzz bzzz
Watch out honey bees sting!
Does it have wings?


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## Mkang14 (Jun 29, 2019)

doyousensehumor said:


> &#128029; bzzz bzzz bzzz
> Watch out honey bees sting!
> Does it have wings?


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## doyousensehumor (Apr 13, 2015)

Mkang14 said:


> View attachment 443300


I knew it! Better than a teddy bear. Sorry @Jon Stoppable


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## SHalester (Aug 25, 2019)

Trafficat said:


> Wow, $19500 is a pretty high limit for a credit card.


It is? American Express various cards have much much higher limits. Gold has no limits technically. My American Express Optima account has a $35k limit. I don't use it, tho. Use CC like cash and pay the balance each month to avoid interest.


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## sellkatsell44 (Oct 25, 2015)

SHalester said:


> It is? American Express various cards have much much higher limits. Gold has no limits technically. My American Express Optima account has a $35k limit. I don't use it, tho. Use CC like cash and pay the balance each month to avoid interest.


Depends on the user and some pple ask for credit limits to be lowered (when I worked as banker).

my gold is unlimited since it's charge not credit, but the delta has 38k in cl. I use it a little. the majority of my spending goes on the gold though I shift it to the United I just opened a month ago for bonus.

that one is a citi world mc.


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## SHalester (Aug 25, 2019)

sellkatsell44 said:


> Depends on the user


of course. And annual income (specially AE). However, gotta watch out for interest rates (and yes gold and up have no interest rates). CC are only a temp location; anything that can't be paid off is moved to the credit line where the limits are 6 figures and interest rate is tied to prime......and you don't need to make payments.....and mostly not reported to credit score bureaus.

edit: forgot to add when you get to much higher rated credit cards you also have to watch for annual fees. No matter what they offer, the fees are not justified. Hence, gold card was shredded and all 'invitations' to black and above were shredded.


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## sellkatsell44 (Oct 25, 2015)

SHalester said:


> of course. And annual income (specially AE). However, gotta watch out for interest rates (and yes gold and up have no interest rates). CC are only a temp location; anything that can't be paid off is moved to the credit line where the limits are 6 figures and interest rate is tied to prime......and you don't need to make payments.....and mostly not reported to credit score bureaus.


This is confusing lol... what??

I would not move it to credit line (if I even owned a house which I don't but maybe when I'm ready to settle) because the rate is still too high for my blood... I like 0. If I had to, I can borrow from credit cards at 0 for a low low low one time flat fee and no need to get ding on credit from a pull.

pple I know that have houses and only houses would do that, credit lines. But people with $$$$$ assets in their portfolio can go on margin at a rate of libor (soon to be moved since its not as stable) plus a very small bps which gives them a borrowing rate of usually 3% total, and way more attractive as margins does not require an application fee, time wait, or pull on credit and so forth.



SHalester said:


> edit: forgot to add when you get to much higher rated credit cards you also have to watch for annual fees. No matter what they offer, the fees are not justified. Hence, gold card was shredded and all 'invitations' to black and above were shredded.


it depends on how you use it, it's worth it for me, and there's a whole forum of pple who would disagree with you about annual fees not worth what they're offering. The only reason I didn't upgrade to plat is because i don't travel enough as a student full time to make it worth it.

and clarify, black amex or black visa? Because black visa invites are plenty and black amex is invite only if you have platinum and/or spend more then six figures in a matter of months and pay it off. Huge difference of getting an invite from black visa (which poses as an elite card but it's not at all) and black amex. Do you have a screen shot or a pic you can take of the many invites? I've always been curious.


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## SHalester (Aug 25, 2019)

sellkatsell44 said:


> pple I know that have houses and only houses would do tha


oh, I was not referring to an HELOC. You **** so? It's all about managing cash flow. I don't keep any amounts on regular cc; use them like cash; pay to avoid interest. On those occasions where that is not cash flow possible the secured credit line covers the balance. Nearly zero interest, no pymts required and any interest is a tax deductible. Best of all worlds. Each 12/31 the credit line is brought to zero. So, beyond a mortgage, no long term debt carried. And mortgage is kept for tax planning purposes as it could be paid off if I really lost my mind........


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## sellkatsell44 (Oct 25, 2015)

SHalester said:


> oh, I was not referring to an HELOC. You **** so? It's all about managing cash flow. I don't keep any amounts on regular cc; use them like cash; pay to avoid interest. On those occasions where that is not cash flow possible the secured credit line covers the balance. Nearly zero interest, no pymts required and any interest is a tax deductible. Best of all worlds. Each 12/31 the credit line is brought to zero. So, beyond a mortgage, no long term debt carried. And mortgage is kept for tax planning purposes as it could be paid off if I really lost my mind........


Well that would be the most obvious. But any credit of line apr won't beat that of a margin that's been negotiated down in my experience.


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## Mkang14 (Jun 29, 2019)

SHalester said:


> It is? American Express various cards have much much higher limits. Gold has no limits technically. My American Express Optima account has a $35k limit. I don't use it, tho. Use CC like cash and pay the balance each month to avoid interest.


My American Express card I got much later then the rest and they started me off at $15,000. I was surprised, never started that high.

Some people have crazy high limits. Don't even know how it gets to $50,000. I'm guessing just waiting it out and increases over time?

I have this one. They have awesome membership rewards. You should consider using it and paying off to benifit from the rewards.



















Trafficat said:


> Nope, no sarcasm. My credit cards have limits between $1000 and $5000.
> 
> $300K is even more impressive. You could buy a cheap house with that in Reno.
> 
> ...


Try requesting an increase. I'm sure they would give it to you if you have no problems on your account. Your account may reduce by 2 points with a credit check, I'm guessing (not 100% that they will do a soft inquiry) but your credit score goes up EVERYTIME your credit limit is increased.


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## waldowainthrop (Oct 25, 2019)

Mkang14 said:


> CF? Is that you &#128523;


Someone has to pick up the slack around here. &#129529;


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## SHalester (Aug 25, 2019)

Mkang14 said:


> You should consider using it and paying off to benifit from the rewards


American Express Optima has rewards as well. And zero fees, ever. Rewards are usually junk, specially the 'points'. Occassionly it reduces a device or gadget i buy.


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## Mkang14 (Jun 29, 2019)

SHalester said:


> American Express Optima has rewards as well. And zero fees, ever. Rewards are usually junk, specially the 'points'. Occassionly it reduces a device or gadget i buy.


I always get the same thing, macys or target gift card &#128516;


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## sellkatsell44 (Oct 25, 2015)

Every cc has rewards except the ones that are generally for balance transfers or pple who are a step from secure cards... 

I keep mine for travel, I’ve gotten a few flights with just 50k points, domestic of course.


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## waldowainthrop (Oct 25, 2019)

sellkatsell44 said:


> Every cc has rewards except the ones that are generally for balance transfers or pple who are a step from secure cards...


If anyone with a sub-600 score wants/needs a secured card with rewards and without bad policies, Discover has a nice one that turns into a non-secured card after a few months of use. It's pretty much the same as their normal card, just secured with cash upfront.

Of course, it's not a Mastercard, so you'll probably want something else in your wallet for those places that don't accept Discover, but they're not that frequent.


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## sellkatsell44 (Oct 25, 2015)

waldowainthrop said:


> If anyone with a sub-600 score wants/needs a secured card with rewards and without bad policies, Discover has a nice one that turns into a non-secured card after a few months of use. It's pretty much the same as their normal card, just secured with cash upfront.
> 
> Of course, it's not a Mastercard, so you'll probably want something else in your wallet for those places that don't accept Discover, but they're not that frequent.


Most merchants use square these days and square accepts all four.

my fav restaurant doesn't accept discover but will amex 

I was a huge fan of discover when I was chasing $ instead of rewards and when I didn't want to pay annual fee for cc that doesn't charge fx and I'm not a fan of capital one (never signed up with them volunteerly but they brought out my ING direct) and this was before uber card.


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## bsliv (Mar 1, 2016)




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## backstreets-trans (Aug 16, 2015)

bsliv said:


> View attachment 443525


Nice you might of been in the lead. Until now.

I just found my last credit report from the purchase of my Uber mobile in 2017. The dealsership was going to get me a good used auto loan at 5%. I knew I had good credit and declined their offer. I went to my credit union and got a better deal.. My credit scores were off the charts with 870 equifax , 873 experian and 891 with transunion. Who's got me beat???


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## ABC123DEF (Jun 9, 2015)

backstreets-trans said:


> Nice you might of been in the lead. Until now.
> 
> I just found my last credit report from the purchase of my Uber mobile in 2017. The dealsership was going to get me a good used auto loan at 5%. I knew I had good credit and declined their offer. I went to my credit union and got a better deal.. My credit scores were off the charts with 870 equifax , 873 experian and 891 with transunion. Who's got me beat???


I thought 850 was the highest that your score could possible be? -o:


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## ColdRider (Oct 19, 2015)

I'm on that poverty time but my credit cards are collecting dust.


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## sellkatsell44 (Oct 25, 2015)




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## Trafficat (Dec 19, 2016)




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## sellkatsell44 (Oct 25, 2015)

Trafficat said:


> View attachment 446378
> View attachment 446379


you bank with wells?!


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## Bubsie (Oct 19, 2017)

sellkatsell44 said:


> you bank with wells?!


Prob has 20 other unknown accounts created without his knowledge by the evil empire.


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## _Tron_ (Feb 9, 2020)

Just a thought for those who may have to rack up some credit card debt. This may be a good time to either establish additional credit lines or request your credit card company to raise your credit limit. This can be as easy as logging in to your CC account and finding the page to request an increase.

I recently tried that with one account and got a nice bump. This is what the banks and corporations are doing right now. Fattening up or drawing down on their lines of credit. As the C19 crisis goes on and the economy continues in slow motion the banks will get more and more finicky about who they lend to. In fact, existing credit limits for account holders may be lowered. It happens. Just an FYI.


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## Bubsie (Oct 19, 2017)

Big banks have already ratcheted up their credit requirements with a min score of 700 and 20% down for standard home loans.

Many also now requiring proof of employment on the day of closing.


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## sellkatsell44 (Oct 25, 2015)

If you’re talking about the big four, they’ve always been super conservative.

worked for one of them.

getting a mortgage approved was a B.

and as someone whose compensation was tied to it, I was highly motivated. Lots of apps, lots of rejects.


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## June132017 (Jun 13, 2017)

This guy has a credit card with no limit.


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## _Tron_ (Feb 9, 2020)

Was just perusing my credit report from the Big Three this evening and spotted something I hadn't seen before. A number of my existing credit accounts appear to making routine SOFT inquiries to my credit rating.










Note the "Account Review Inquiry". I did not request a credit line increase for any of these accounts, so I assume this type inquiry comes from the risk management department. I futher assume they look for someone going delinquent on other accounts as a flag to possible lower a customer's credit limit.

?


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## SpinalCabbage (Feb 5, 2020)




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## _Tron_ (Feb 9, 2020)

Credit scores reportedly went up in 2020

[HEADING=2]The average FICO Score reached a record high of 710 in 2020-here's the average credit score in every state[/HEADING]

While 2020 was a year of economic uncertainty for many Americans, the average FICO Score still managed to hit a record high of 710, according to Experian's 2020 Consumer Credit Review. That's a seven-point increase from 2019 and up a whopping 21 points since 2010.

The rise in credit scores can be attributed to Americans spending less money and paying their credit card statements on time.

In addition to credit scores hitting a new high, consumers in all 50 states and Washington D.C. saw a rise in their average credit scores by three to 10 points.

Here's a breakdown of the key findings from Experian's 2020 report, the average credit score in every state and a free and easy way to boost your credit.

CNBC story continues...


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## tohunt4me (Nov 23, 2015)

June132017 said:


> This guy has a credit card with no limit.


$3,500.00 at a Leggo Store !?!?


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## goneubering (Aug 17, 2017)

Coastal_Cruiser said:


> What is the average credit rating of an Uber driver? Feel free to post yours anonymously.


I think I'm a 10. At least a 9.


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## ColdRider (Oct 19, 2015)

_Tron_ said:


> Credit scores reportedly went up in 2020
> 
> [HEADING=2]The average FICO Score reached a record high of 710 in 2020-here's the average credit score in every state[/HEADING]
> 
> ...


It's good to see people are paying their debt. I personally paid off nearly $40k in 2020 and plan to save/invest about the same amount this year.


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## bobby747 (Dec 29, 2015)

Its so nice all are talking about credit scores . most do uber here.
take an avg driver working 5 days a week grossing $800x 50 weeks $40k year.
now let him do his mileage deductions . expenses. his line 31 AGI will not let him by a $60,000 home. uber drivers need to break 6 figures to get a ok sized mort. say 200k.
you need 2 years of steady good agi.
so driver A with a 750 score uber driver no house to buy only cars..CC etc..
B works at burger world at $15 hr , credit score 650. he will get the loan...fact 99% of the time..unless you are a super earner with uber and get a statement loan.
thought i would share this as it relates to drivers and credit scores. an 850 score will not get the house


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## Guido-TheKillerPimp (Jan 4, 2021)

Who cares, as long as your Uber rating is 4.95 or better!


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## Amsoil Uber Connect (Jan 14, 2015)

bobby747 said:


> Its so nice all are talking about credit scores . most do uber here.
> take an avg driver working 5 days a week grossing $800x 50 weeks $40k year.
> now let him do his mileage deductions . expenses. his line 31 AGI will not let him by a $60,000 home. uber drivers need to break 6 figures to get a ok sized mort. say 200k.
> you need 2 years of steady good agi.
> ...


That's because those with W-2 jobs are seen as more stable , better work ethic. If they are married with a child, they get hired even more so.


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## bobby747 (Dec 29, 2015)

Never got payed on a rating..


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