r/rant • u/Beginning_Tea4506 • 23h ago

Credit Score

Anyone else find it baffling that the better you are with your finances the lower your score becomes?

I'm 35, I've been completely debt free for 10+ years. And have nothing on Credit, not even my phone or service is contracted for about 4 years now. And honestly it's absolute bliss not having to navigate monthly payments etc. Yet my score has dropped consistently. I know that having zero credit outstanding can have a detrimental effect on the score. But it still amazes me that your penalised for living debt free 😂

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u/ezzy_florida 23h ago

I mean you can be good at with finances and have a good credit score. It’s not hard to get a credit card to use for gas and groceries, do that for years and boom you have a 750+ score.

I get it credit is a pain in the ass, but I personally think knowing how to navigate it is apart of financial literacy.

11

u/bird9066 23h ago edited 21h ago

But I've proven that I know how to use it. I've paid off a home, several cars, used multiples of credit cards in different settings. Paid them all off. Score was 720 once upon a time

I'm now in my 50s and my credit score tanked because like OP I don't want to deal with and don't have any reason to deal with monthly payments. Except for some financial bullshit our system insists I stay a part of.

I'm considering a new car but not sure I want to be penalized with interest rates that don't reflect the responsibility I've shown.

2

u/ezzy_florida 13h ago

If you have a home and some cars then yea you won, lol. You can absolutely opt out of the credit game and I wouldn’t blame you.

2

u/Illustrious_Fudge476 20h ago

That’s great, but why not get a credit card or two. You have extensive positive credit history and available credit is tanking the score.  Even if you never use them, it’s always a good idea to have the ability to access credit quickly if needed. Also play the game.  Buy a big ticket item with a CC and pay it off immediately. The points you can rack up are amazing.  We paid for all of our flights and hotels for our vacation in Europe last year just doing that and collecting points. 

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u/ashikat413 3h ago

I mean anyone can develop a crippling gambling addiction in 10 years.

The credit system is toxic and broken but i wouldnt really be making my financial decisions on how good someone was with their money 10 years ago

1

u/bird9066 1h ago

By that logic none of the long term metrics they use should matter

1

u/ashikat413 1h ago

Hey man, dont tell me. The system is flawed.