Americans have never been in so much debt

[Ezekiel 25:17]

Live within your means, brehs/brehettes.

​

This is all it boils down to. Stay at home or get a roommate if you need help. Folks buying 3 series, eating out, buying luxury clothes.

 

[Ninerfan]

This makes no sense

You’re supposed to use 15% to 30% of your credit. I think that’s how it works.

 

[Bossyyyyy]

You’re supposed to use 15% to 30% of your credit. I think that’s how it works.

@ all times I should owe the bank some $?

why would me paying my debts off completely be a negative in any sense

 

[Obreh Winfrey]

This makes no sense

Makes sense when you understand how credit is scored.

How are FICO Scores Calculated? | myFICO | myFICO
How Owing Money Can Impact Your Credit Score | myFICO | myFICO

Your credit utilization ratio on revolving accounts-the percentage of your available credit you're using-is an important factor in your FICO Scores. Using a high percentage of your available credit means you're close to maxing out your credit cards, which can have a negative impact on your FICO Scores.

On the other hand, using a low percentage of your available credit can have a positive impact. In some cases, a low credit utilization ratio will have a more positive impact on your FICO Scores than not using any of your available credit at all.

If a company extends you credit, they want to see it being used. Being at 0% utilization can look like you're just sitting on a line of credit since the only ones with access to your transaction history is the credit issuer. It's not intuitive but we don't get to make the rules. If you're chasing scores in anticipation of opening a new line of credit, then understanding the scoring system is key. From the breakdown, payment history and amount owed are the biggest pieces, so pay debt down and do it on time. Dont waste your time trying to maximize your score though, because it can change from day to day.

 

[Htrb-nvr-blk-&-ug-as-evr]

My fico is in the 760 range I have nothing but 4 credit cards. Haven’t had an installment loan in 8 years.

your credit isn’t going to go to shyt

My credit vardcard balances are $0. All 3 of them. If you have no debt at all your credit score will absolutely go to shyt.

I wouldn’t say go to shyt, but you are penalized points if you report zero balances across all accounts. For revolving accounts, you get max points by letting 1-5% of your balance report. If this guy does have zero balances reporting on revolving and paid off his loan, he could lose 40 points or more…he’s then being penalized for lack of account variety. Only time you should worry about it is if you are applying for something large like a house or car, and in some cases a credit card.

 

[CashmereThoughts]

I wouldn’t say go to shyt, but you are penalized points if you report zero balances across all accounts. For revolving accounts, you get max points by letting 1-5% of your balance report. If this guy does have zero balances reporting on revolving and paid off his loan, he could lose 40 points or more…he’s then being penalized for lack of account variety. Only time you should worry about it is if you are applying for something large like a house or car, and in some cases a credit card.

I just lost 8 points because a an old auto loan fell off . shyt happened this morning

 

[Htrb-nvr-blk-&-ug-as-evr]

I just lost 8 points because a an old auto loan fell off . shyt happened this morning

That ain’t shyt. Loan must’ve been older than 10 years, but being that you only lost 8 points shows how robust your file is. You’ll get those back just by aging the rest of your file for the next month…

 

[King Poetic]

COVID Hosiptal bills

max out credit cards to keep rent paid

 

[jesc07]

I usually put between $80 to $200 on my credit card a month and then pay off the balance before it's due. My score has jumped about 30ish points. But I'm trying to get a mortgage next year...might be different for others.

 

[DJ Paul's Arm]

Inflation for the month of October was released today and it’s the highest it’s ever been in the last 2 decades at 6.2%

 

[Pazzy]

Country headed to the shytter.


You know....a lot more bodies gonna drop, in cities, throughout America, too. I been stayin my black ass out the way, and stackin, my little bit of chump change.


Tis the holiday season. Nggas are broke, struggling, fraudin, frontin, and desperate. Cacs too. You're an opportunity, out here, to a lot of folks. The govt. is gonna have to break bread, and relieve these financial - restraints, by bailing ppl out, somehow.

This country been in the shytter. Youre just now waking up.

A lot of people are way too comfortable and lying to themselves. Couldnt be me. Folks living beyond their means just to show off on others and clout chase. American empire gotta fall one day and that day might be coming sooner than yall think

 

[Rell]

I'm seeing some horrible credit advice in here... No you do NOT need to keep 15 - 30% utilized on your cards to keep your score high. Where y'all getting this bullshyt from?

 

[Mowgli]

Clear your debts or become property

 

[Ezekiel 25:17]

COVID Hosiptal bills

max out credit cards to keep rent paid

Folks was in debt way before Covid and the rent crisis

 

[WaveMolecules]

We use to laugh at the motivational posters in school now all anyone can do on IG is post dumb shyt like that.
We not the same!
Team no sleep!
Work smarter not harder!

fukking stupid