this post was submitted on 15 Feb 2024
1714 points (98.5% liked)
Microblog Memes
5832 readers
1571 users here now
A place to share screenshots of Microblog posts, whether from Mastodon, tumblr, ~~Twitter~~ X, KBin, Threads or elsewhere.
Created as an evolution of White People Twitter and other tweet-capture subreddits.
Rules:
- Please put at least one word relevant to the post in the post title.
- Be nice.
- No advertising, brand promotion or guerilla marketing.
- Posters are encouraged to link to the toot or tweet etc in the description of posts.
Related communities:
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
No duh, this isn't asking for financial advice though. This post was about what maximizes your credit score.
Two entirely different things.
Also, you linked to an ad for what experian wants to sell you. The credit agencies have proven time and time again they are the last source of information you want to use regarding how they generate credit scores, when they aren't proving they can't be trusted with your data and should be dissolved by government for their constant data breaches it's almost impossible to opt out from while still participating in society.
"Carrying a credit card balance will not benefit your credit score, but enrolling in Experian Boost®ø has helped many people increase FICO® Scores based on their Experian credit reports, and a free credit score from Experian can help you track progress toward score improvement."
-Your source. A sales pitch is never a valid source, unless it's to prove someone tried to sell you something.
You guys are talking about different things.
Credit utilization of 0% doesn't mean paying your cards off on time every month so you avoid interest. It means paying your cards off before the statement period even closes so nothing is reported to the credit agencies.
I do this. All my cards have a statement period ending on the 19th or 20th. Around the 17th every month I pre-pay so my statement is $0 on every card.
When I use a card after doing this and the charge goes through before the statement closes, my FICO score goes up (vantage doesn't seem to do this).
For the last 18 months or so my FICO has been going up 22 points every time there is at least a little balance to report and down 22 points every time my credit utilization is 0.0%.