Credit rating rant!!

[Doe Dumper]

I almost bought a new pickup in September but decided not to. I had an application and was approved and had a credit rating of 853. Well fast forward to this week. I jumped in and bought a new pickup...funny thing was my credit rating had fallen 40 points. Keep in mind everything I have including the house is paid for. I never carry a balance on my credit cards and the last installment payments I had were paid off several months early on one of my class 8 trucks in July. Theres no suspicious activity here either. I seen the entire credit report.

I think its a crock that people who take care of their finances the way I have are penalized for not carrying balances and making sure all the bills are paid every month.

The report actually said lack of installment and too many inquiries (3 in the last year).

It didnt cost me anything this time as I was able to get a 4.99 apr for 60 months but whos to say it wont next time. Who gave these bastards a right to keep a record of our business anyways??

[stealthycat II]

what vehicle was you trying to buy ?

[MN_Deerman]

Isn't the highest credit score 850? And I believe it's next to impossible to get that. So maybe whoever told you your orginal credit score was mistaken, that would explain the big jump down.

[etothepii]

The perfect credit score is zero. I hope to have it one day.

[Doe Dumper]

I was looking at a used Silverado in September and bought a new Ram this week. Im not a huge Dodge fan but they still made 1/2 ton 4wd's with a v8 and manual tranny so thats why I went that way. I dont buy automatics..lol. They also went to auto only for 09 so I guess Ill prob drive this one for a decade or 3..lol.

[salukipv1]

I have a friend who's house is also paid off....his banker or whoever told him, having a mortgage would raise is rating....ie showing him making good payments etc...


its screwy but if you're over 800 I don't think I'd worry too much.

[etothepii]

A high credit score means you are good at borrowing money. It's like saying, "I'm excell at not having enough money for what I want."

[James B]

I am still driving my 1978 Wagoneer. I do have a new S-10, a 92. I drive them until the drop. (several times)

[cascadedad]

ORIGINAL: Doe Dumper

I was looking at a used Silverado in September and bought a new Ram this week.

No wonder they dropped your credit score! Just kidding....... Be happy you are NOT their ideal person they want to lend money to.

[909bowsniper]

ORIGINAL: MN_Deerman

Isn't the highest credit score 850? And I believe it's next to impossible to get that. So maybe whoever told you your orginal credit score was mistaken, that would explain the big jump down.

Yep...850 is the highest...and there are few who have it.