My credit rating disappeared!

[Jay Walk]

Wife started once the mortgage was done, talk about a CASH NAZI.
Man, it is brutal around here, three gun purchases per month, buh bye oh.


Anyways, glad this thread was started, wife may partial finance a vehicle in a year. Probably carry a hundred dollar balance on the visa for a few months just in case it is true that paying off every month lowers the score.

 

[billdeserthills]

This is screwed up!

We never had any credit. We bought a house in 2001. We had got an inheritance and put half purchase price down which brought payment amounts down. BAM! Credit coming out our ears! In these times I don't see why people don't pay all household bills with credit card, get the points, and pay off monthly. Plenty of credit, and the bonus of points to get something nice for yourselves a couple/three times a years. Cabela's Card is what wifey uses. I use Discover Card. If you need to call Discover? You can actually talk to a person! In America!

Capital One To Buy Discover For $35 Billion In Deal That Combines Major US Credit Card Companies

Capital One To Buy Discover In Deal That Combines Major U.S. Credit Card Companies

Capital One Financial is buying Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s biggest lenders and credit card issuers.

www.huffpost.com

 

[Alexx1401]

Capital One To Buy Discover For $35 Billion In Deal That Combines Major US Credit Card Companies

Capital One To Buy Discover In Deal That Combines Major U.S. Credit Card Companies

Capital One Financial is buying Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s biggest lenders and credit card issuers.

www.huffpost.com

I have had a Discover card for several decades now. Co has been sold at least one time before I know. At one time they were owned by Sears. Been banking at Capital One for couple decades too. Have an online checking account with them that has always been great. So hopefully this will go smoothly.

 

[trekkerpaul]

Using a CC like a debit card, paying it off every month will help build credit and give you some fraud protection at the same time. Debit cards do nothing for the user other than convenience. 2-3 CC, using one as a primary and a the others as back up is a good plan. There are many credit unions and banks that offer rewards cards with low interest that are a good way to get cash back on the money you already spend. Credit Karma is a great place to monitor your credit score without hard inquiries. Easy to set up an account there.

 

[Jay Walk]

I talked to a car dealer a couple of weeks ago and told him we have no debt, house payment or otherwise. I asked about my credit score and he said that 1. no late payments in the last three months is what they look for and 2. the monthly charges to a CC, even though paid off count towards assessing your credit rating. We are stacking cash for a new car, maybe within 12-18 months will have 50% down.

 

[JustShoot]

Wondering if any of y'all are knowledgeable on credit scores....

Went to go buy a new truck today, and was informed I have a credit rating of "zero", according to Experian and Equifax. Da eff? I have had 2 mortgages we paid off, in last decade 3 car leases and 2 car loans paid off early.

But, I haven't used credit for about 4+ years now, and apparently, because I do not participate in the "game", I am no longer "worthy" of a score.

I Googled why I would have a zero score, but that was confusing. Is it true, you lose your score after a few years of inactivity?

Zero credit score.. then, I applaud you . It get tougher to maneuver threw life without a ' Credit Social Score ' .

No Credit Social Score, Shelter is one one of life's universal common needs, they have made It impossible now without 'a score' even searching to rent any single-family shelter like Apt. or home. I have 3 'Debt Cards' aka/credit cards, and all hold zero balance. I even received a letter 2 month back on one. that If did not use it by Feb. I would forfeit it's ownership. So I did 'ask' for approval of 68-$ of debt for some glock parts ....LOL then paid it off Debt the day billing was received to keep that Credit Card # active .
Fight being controlled, and as a debt slave as long as possible.
.

 

[The Heretic]

I talked to a car dealer a couple of weeks ago and told him we have no debt, house payment or otherwise. I asked about my credit score and he said that 1. no late payments in the last three months is what they look for and 2. the monthly charges to a CC, even though paid off count towards assessing your credit rating. We are stacking cash for a new car, maybe within 12-18 months will have 50% down.

I charge between $500-$2K per month on a CC but I pay it off every month. I do let the balance sit until a few days before the payment is due. About 10 years of payment history on that account, and other credit history before that (about 35-40 years).

I have a mortgage (with about 70% equity due to appreciation) with 12 years of payment history.

I have a score of ~800.

I have not taken out a loan on a vehicle in 30 years. Last car I bought I paid $25K with a cashier's check, but they still ran a credit check on me for some reason?

 

[Alexx1401]

I charge between $500-$2K per month on a CC but I pay it off every month. I do let the balance sit until a few days before the payment is due. About 10 years of payment history on that account, and other credit history before that (about 35-40 years).

I have a mortgage (with about 70% equity due to appreciation) with 12 years of payment history.

I have a score of ~800.

I have not taken out a loan on a vehicle in 30 years. Last car I bought I paid $25K with a cashier's check, but they still ran a credit check on me for some reason?

Wife and I recently bought 2 cars that were used. The first one was paid cash like that, check from the bank. Days later I get a letter from the dealership saying they had run just me even though both of us are on the title
Sure enough I then get the alerts that he had run me from the places that warn me if someone does. It did piss me off enough I will not be likely to buy from them again. As to the why I have to "guess" maybe the sales guy was going to try to "up sale" me and wanted to know where I stood before he started? Still left me with the line about used car salesmen.
So months later when we are looking at another vehicle that we are going to again pay cash for we did ask that dealer about this. They claimed they did have to report the sale to someone which made sense to me. When you are dropping 30K on a vehicle I can see the Fed's wanting to know but they said they did not need to run my credit and they did not. So again I have to take a wild guess that when they do this they are looking to see if they can up sale the buyer.
The second dealer also let us just pay with a debit card with no extra charge which was nice. Did not have to go to the damn bank to get another cashier's check which is a hassle. Only took about :05 on the phone with someone from the bank to let the 30+K charge go through on just the card.

 

[Flopsweat]

Wife and I recently bought 2 cars that were used. The first one was paid cash like that, check from the bank. Days later I get a letter from the dealership saying they had run just me even though both of us are on the title
Sure enough I then get the alerts that he had run me from the places that warn me if someone does. It did piss me off enough I will not be likely to buy from them again. As to the why I have to "guess" maybe the sales guy was going to try to "up sale" me and wanted to know where I stood before he started? Still left me with the line about used car salesmen.
So months later when we are looking at another vehicle that we are going to again pay cash for we did ask that dealer about this. They claimed they did have to report the sale to someone which made sense to me. When you are dropping 30K on a vehicle I can see the Fed's wanting to know but they said they did not need to run my credit and they did not. So again I have to take a wild guess that when they do this they are looking to see if they can up sale the buyer.
The second dealer also let us just pay with a debit card with no extra charge which was nice. Did not have to go to the damn bank to get another cashier's check which is a hassle. Only took about :05 on the phone with someone from the bank to let the 30+K charge go through on just the card.

They may run your credit for any number of reasons. Security or sales are the first topics to come to mind. Maybe they're unsure about the check. Maybe a sales manager or finance person wants to sell you something and thinks they can talk you into financing it.

 

[Alexx1401]

They may run your credit for any number of reasons. Security or sales are the first topics to come to mind. Maybe they're unsure about the check. Maybe a sales manager or finance person wants to sell you something and thinks they can talk you into financing it.

My "best guess" was they were of course wanting to up sale us. Since we were paying cash for the car I suspect they were hoping to get me to buy a new car from them. It only pissed me off because they flat out lied to me when they were asking for the information to run me. Saying they were not going to do so. Each time some creditor does that it can affect your score as it looks like you are trying to get more credit. The next car we bought months later that dealer also asked for the info but said they had to report we were buying the vehicle for cash not running my credit. They did not run it, so the first place just lied to me. In any case I hope it was worth it as I will never set foot in the place again to buy a car.

 

[Flopsweat]

My "best guess" was they were of course wanting to up sale us. Since we were paying cash for the car I suspect they were hoping to get me to buy a new car from them. It only pissed me off because they flat out lied to me when they were asking for the information to run me. Saying they were not going to do so. Each time some creditor does that it can affect your score as it looks like you are trying to get more credit. The next car we bought months later that dealer also asked for the info but said they had to report we were buying the vehicle for cash not running my credit. They did not run it, so the first place just lied to me. In any case I hope it was worth it as I will never set foot in the place again to buy a car.

You should provide that feedback to the General Manager of the dealership. If he's a good manager (there actually is such a thing at car dealers, believe it or not) he may actually make some changes. Most happy customers tell a few friends. Every unhappy customer tells everyone.

 

[Alexx1401]

You should provide that feedback to the General Manager of the dealership. If he's a good manager (there actually is such a thing at car dealers, believe it or not) he may actually make some changes. Most happy customers tell a few friends. Every unhappy customer tells everyone.

I thought about it at the time, then just never got around to it. You are 100% right I should have. It was the culmination of a bad day for us. When Wife decided the wanted a hot rod too we found one we both liked. Test drove, I showed her the thing was capable of FAR more speed than we needed.
We went back, got finale price. Dealer wanted to charge to use plastic of course so we drive to bank and get cashiers check and head back. Now everything comes to a standstill. After about :45 we walked out with our check. Back to bank and start searching again. Found another example of same car, test drive, make deal, back to bank again who by now is a little leery and it takes a few. We drove home with car though. That first car? Next day owner of dealership calls, making excuses about how one of his guys was out sick and that was why no one could sell us the car. Wife told him he had several employee's running around the place drinking coffee and talking to each other yet only one employee was able to actually sell a car? He offers to bring car and paper work to our house. Wife tells him too late now we found another dealer to actually wanted our money.
So days later when I get the letter about the second place lying and running my credit I was PISSED but, at least had the damn car. I did kind of feel bad for the sales guy at the first place as he missed out on his cut due to the incompetence of the owner but, that only goes so far. Few months later when we were looking to buy another vehicle both of these places had some examples of what we wanted and we of course did not set foot in the places. The place we bought that last one from was a nice surprise. It was a VERY nice experience. Best I have ever had with buying a car in my life. It was on a Sunday and they offered to let us try to have the bank direct pay them for no charge. Saying that if the bank balked they would still send us home with the damn car and let us go to bank next day. Took a few on the phone but damned if BofA was not able to directly pay the dealer. In the FWIW department I did leave a VERY negative on line review of the first two places and a very glowing review of the 3d. The first two brought no response from the first 2 places but the 3d? Owner did respond to me thanking me and letting me know the sales guy I praised had been with him for 19 years at that point. So sounds like that 3d place treated both customers and employee's well. Only thing I was sad about was 3 place did not do service work on anything other than Toyota as they were a Toyota dealer. I liked them enough I would have been willing to drive a little out of my way to give them more of my money. I am still a little pissed I did not write directly to the owner of that second place now but I strongly suspect the sales guy who pulled that crap may well be one of those kind who jumps from place to place due to acting like the stereo typical "used care salesman".

 

[Flopsweat]

I thought about it at the time, then just never got around to it. You are 100% right I should have. It was the culmination of a bad day for us. When Wife decided the wanted a hot rod too we found one we both liked. Test drove, I showed her the thing was capable of FAR more speed than we needed.
We went back, got finale price. Dealer wanted to charge to use plastic of course so we drive to bank and get cashiers check and head back. Now everything comes to a standstill. After about :45 we walked out with our check. Back to bank and start searching again. Found another example of same car, test drive, make deal, back to bank again who by now is a little leery and it takes a few. We drove home with car though. That first car? Next day owner of dealership calls, making excuses about how one of his guys was out sick and that was why no one could sell us the car. Wife told him he had several employee's running around the place drinking coffee and talking to each other yet only one employee was able to actually sell a car? He offers to bring car and paper work to our house. Wife tells him too late now we found another dealer to actually wanted our money.
So days later when I get the letter about the second place lying and running my credit I was PISSED but, at least had the damn car. I did kind of feel bad for the sales guy at the first place as he missed out on his cut due to the incompetence of the owner but, that only goes so far. Few months later when we were looking to buy another vehicle both of these places had some examples of what we wanted and we of course did not set foot in the places. The place we bought that last one from was a nice surprise. It was a VERY nice experience. Best I have ever had with buying a car in my life. It was on a Sunday and they offered to let us try to have the bank direct pay them for no charge. Saying that if the bank balked they would still send us home with the damn car and let us go to bank next day. Took a few on the phone but damned if BofA was not able to directly pay the dealer. In the FWIW department I did leave a VERY negative on line review of the first two places and a very glowing review of the 3d. The first two brought no response from the first 2 places but the 3d? Owner did respond to me thanking me and letting me know the sales guy I praised had been with him for 19 years at that point. So sounds like that 3d place treated both customers and employee's well. Only thing I was sad about was 3 place did not do service work on anything other than Toyota as they were a Toyota dealer. I liked them enough I would have been willing to drive a little out of my way to give them more of my money. I am still a little pissed I did not write directly to the owner of that second place now but I strongly suspect the sales guy who pulled that crap may well be one of those kind who jumps from place to place due to acting like the stereo typical "used care salesman".

Any dealership that can keep a decent salesman for 19 years is doing something right. Turnover is extremely high in that industry.

 

[Alexx1401]

Any dealership that can keep a decent salesman for 19 years is doing something right. Turnover is extremely high in that industry.

I thought that same thing. Never done sales but have known a LOT of people who did and all of them seemed to act like it was just normal to have worked at so many places they could hardly remember them all. That Toyota dealership is a bit of a drive from my house but believe me. Next time we are looking for a car they will be the first place I start looking and that sales guy will be my fist question, is he still there.

 

[made in china]

RE: superfluous credit checks.... when we bought my new truck, the dealer did NOT run any credit check until I notified them I was serious about buying it, and I though I may want to take advantage of the Nissan 0% for 60 deal.

At the other 2 dealers where I test drove trucks, they also did not run my credit for test drives and initial dealings.

I was actually surprised none of the 3 dealers I visited tried to use the usual tactics. They all seemed to have pivoted to a more customer-friendly interaction post-pandemic. Because when I tried buying in the depth of the pandemic, yeah they'd try every trick in the book, including running credit the moment you stepped in the door.....

 

[Flopsweat]

RE: superfluous credit checks.... when we bought my new truck, the dealer did NOT run any credit check until I notified them I was serious about buying it, and I though I may want to take advantage of the Nissan 0% for 60 deal.

At the other 2 dealers where I test drove trucks, they also did not run my credit for test drives and initial dealings.

I was actually surprised none of the 3 dealers I visited tried to use the usual tactics. They all seemed to have pivoted to a more customer-friendly interaction post-pandemic. Because when I tried buying in the depth of the pandemic, yeah they'd try every trick in the book, including running credit the moment you stepped in the door.....

Have you seen the prices on new cars these days? I'm surprised they're selling any at all.

 

[Alexx1401]

Have you seen the prices on new cars these days? I'm surprised they're selling any at all.

I am floored when I see what many of them sell for now. Floored that people are buying them. I STRONGLY suspect there may well be a glut of nice used cars soon. As people who bit off way more than they could handle end up with car repoed and they end up at auctions all at the same time.

 

[made in china]

Have you seen the prices on new cars these days? I'm surprised they're selling any at all.

There are Toyota Tundras with MSRP north of $80K.

And the newest Jeeps with the Hurricane TT I-6 engine are deep into the 80s, and new RAMs, F-150's and GMs can easily approach $90K or more. For. A. Truck. You know, those things we do dump runs in???

Somehow, I felt $41K for my Nissan truck is a "steal"