this post was submitted on 23 Oct 2023
1138 points (96.2% liked)
4chan
4246 readers
2 users here now
Greentexts, memes, everything 4chan.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Your credit score actually goes down when you pay off and close accounts. Which would indicate you're very financially responsible and will pay your debts off.
The reason is because a credit score is not about whether you will pay your debts and are financially responsible. It's actually configured to be a score of how much money a lender can make from you. If they can't profit from you, they don't want to lend to you. So the score goes down.
If it was a score of financially reliable and stable you are, then it would be much more welcomed.