The numbers Mason, what do they mean?
this post was submitted on 15 Feb 2024
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It actually sounds like the opposite.
Your "good" credit card customer is presumably paying more credit card fees on accounts so is actually less sound financially.
So if you mean playing the rules means paying higher fees to credit cars companies then that just helps show how stupid the system is.
Also, I actually disagree fundamentally with the argument. If it's just based on how old your accounts are then that is a shitty system. It's not only easy to play by the rules, but then presumably to abuse them as age of an account doesn't indicate much about your ability to pay off bills.
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Not sure what her financial situation is, but if the loan on her car was the oldest thing on her credit report paying it off will lower the average age of her credit history and that can lower your score.
If she had a credit card that was opened before she got the car loan and never missed a payment on the credit card, paying of the car would have raised her average credit history and raised her score.
It's not some secret how this stuff works, Credit Karma tells you all this.
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