Your Credit Score

Only 827?
You're just humble bragging.
Credit scores are a calculated risk of default by taking into account various factors in a person's financial activity and history.
The exact formulas for calculating credit scores vary among credit agencies, but are essentially;
35%: payment history and bankruptcy, liens, judgments, settlements, charge offs, repossessions, foreclosure
30%: debt burden: the debt to limit ratio, number of accounts with balances, amount owed across different types of accounts, and the amount paid down on installment loans.
15%: length/age of credit history; the average age of the accounts on your report and the age of the oldest account.
10%: types of credit used (installment, revolving, consumer finance, mortgage): Consumers can benefit by having a history of managing different types of credit.
10%: recent searches for credit: hard credit inquiries, which occur when consumers apply for a credit card or loan

I've also read that changing your address lowers your score.
 
Have you written to or talked to the reporting agencies or agency about your score? Oddly enough having no debt can reflect badly on a score. The why of your anger over an excellent score is a puzzle. A score is nice to know but in the grand scheme of life, credit is only a tool for convenience, with enough cash a person can skip using credit, and getting angry.
 

It's a red flag for instability. Not necessarily a genuine indicator but more of a heads-up.

I agree about humble-bragging, HipGnosis. That was my first thought. "My $58 million investment account is down two cents today. Whatever will I do?"
 
The last time (that I'm aware of) our credit reports were checked was back in 2009 by the Nissan dealership when we bought mama a new Murano.......my score was 834 and mama's was around 820 or so and the gal doing the loan paperwork said that they were the highest scores that she'd ever seen up till then.
 
My husbands is about the same as yours, give or take a point or two. Mine, on the other hand is in the mid 700s. Since it used to be in the 600s, I will take it.
 
I have been looking at my credit score, wondering why the number bounces around +/- 14 points from month to month when I don't see that I am doing anything different. When I finally got around to researching how to freeze my credit after the Equifax data breach I was advised to got to Credit Karma and open a free account that would give you more info about your credit score and your various accounts. It does for Equifax and Transunion. It also gives you clues as to why your score is what it is. What was causing mine to bounce around was that I have 5 revolving credit accounts (mostly credit cards) and it wasn't particular the amount of credit I was using as I pay them off each month, it was the number of them that showed any balance at all for the time of the month when they checked... it didn't seem to matter if it was as low as $1.99, it was an outstanding balance.
 
HiDesertHal said:
Sure I was bragging, but there was no humility involved.

I still think I should have gotten the top score, which is 850!

Thanks for your comments,
Hal
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there are so many factors that no one gets a perfect score . i had one agency tell me that the oldest credit line has to be older than 25 years to gain anymore points and i am at 24 years .
there are also 55 different fico scores .the consumer one you see is not what the lender uses .they get custom weighted scores depending on industry . in fact many of the free scores from the bank cards use fico 8 which can run to 900 not 850
 
actually studies show it actually is ,as how you are with money and who you are as a person are very connected . when people end up having some event take them down financially , it rarely is that event that does them in . it is a long history of poor choices and bad decisions leading up to that event .

the auto insurance industry demonstrated to congress how lower scoring folks tend to be not as honest as a group as higher scoring groups . whether you are or not ,you will be guilty by association .
 
I'm at a point in my life where my credit score is of no value to me.

IMO credit scores are valuable for young folks on the way up but not for old folks on the way out! :eek:nthego:
 
Me too. I can see the importance of a good credit score if you're buying a home, maybe even a car. Those things are not pertinent to my life now. That's a game for younger people, not one I care to play at my age.
 
Smiling Jane said:
Me too. I can see the importance of a good credit score if you're buying a home, maybe even a car. Those things are not pertinent to my life now. That's a game for younger people, not one I care to play at my age.
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what you pay for insurance to getting an apartment can still count heavily on your score. in fact while we don't borrow money we do travel . we recently took a premium credit card with thousands of dollars in perks and bonus's . we needed a very good score for that .
 
mathjak107 said:
what you pay for insurance to getting an apartment can still count heavily on your score. in fact while we don't borrow money we do travel . we recently took a premium credit card with thousands of dollars in perks and bonus's . we needed a very good score for that .
Click to expand...

I agree, but you obviously have a great credit score so why keep pushing?
 
I took Hi Desert Hal's original post at face value. Being angry over a credit score seemed to me to be a little over the top but who really knows what bothers someone? I thought about at 81 and not needing Gov. assistance from some social program was nice to read about.


Like others posting here our need for credit is minimal, we've reached the point where were down to just the basics. Two cards for convenience works for us now. Travel & the needs associated with travel just aren't there any more so keeping our American express platinum card account and skipping the fee to enjoy a meal like HiDesertHal makes a whole lot more sense.
 

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