Quote:
Originally Posted by papa smurf
and the deeper you get into debt the better your score,what a racket
it's the financial equivalent of rope a dope
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and here is someone with a clear misunderstanding of how it works
---------- Post added at 16:33 ---------- Previous post was at 16:29 ----------
Quote:
Originally Posted by Dingbat
Good tip.
Nationwide tells me mine is 604, which is negatively impacted by having no mortgage, credit card, or unsecured loans in my name. So it seems that the better you manage your finances, the worse your score becomes?
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It is only negative because it does not show you have the ability to make regular payments over a prolonged period and can be negated by using a credit source and paying it back regularly
I have no loans or debt on a credit card but I use paypal credit all the time and pay it off all the time and all 3 of my scores are excellent and I was on an IVA with 16K defaulted debt that did not close till November 2018