Could you explain in 5 steps or less, what you did to get and stay there? #personalfinance #investments
Tech Industry
3d
64062
Crossed a line with my boss
Health & Wellness
Yesterday
485
Lasik cost
Tech Industry
Yesterday
1460
Women, help me understand why this is inspirational
Tech Industry
Yesterday
620
Rejected my TikTok offer. Something I’m gonna regret?
Tech Industry
Yesterday
2568
What happens when most of your team is Indian?
Paid my bills. Wild, I know.
There are some caveats to it. Like credit card utilization %
I've been paying my bills without a single miss for 10 years. Score is still in mid 700s.
Seriously nothing 🤣🤣
Me too! It stayed around mid 700s for a long time and went above 800s. Above 760 should be all the same.
I did nothing special. Have 7 accounts in my profile. Never missed a single payment. Started from ground 5 years back when I landed in US and last month I achieved a score of 801. Tip: always pay for all your expenses through CC.
Get something like chase sapphire or reserve and then with 70-80k credit limit, the monthly 1-2k expense just doesn’t let your score fall below 800
Was 80k your initial limit? What did you put as your household TC?
My chase reserve has a credit limit of $16k. (Sobs in corner)
Open 1-2x a year new credit cards to get overall higher credit limits (and to use points for business class flights), keep balances under 5%, have a mix of credit with car loans and mortgage, never close your oldest cards
My oldest card is discover and it has a stupid annual fees I no longer use that card and I have to pay for the fee to keep it alive. Thoughts ?
You can try to request discover to downgrade your card type to something which doesn't have an annual fee.
Few things: 1. Make sure your credit card utilization is below 10%. (If you have bigger purchases sometime pay the balance before due date that way it won’t be reported ) 2. Never ever miss payments. 3. Sign up with credit monitoring like credit Karma it’s free. Once a month just check all looks good on your credit report. 4. Stop getting many credit cards that will reduce your average age. Have few good credit cards. Don’t sign up cards on all clothing stores.
Disagree on 4, if you have good credit you want to make use of sign up bonuses. It’s the easiest free money you can make and it pays my family’s business class flights for annual travels since 2017
Okay which airline and which credit card you use? Also is this domestic business class? I don’t think you can get international business call with bonuses
I’m at 799 now 🤬
1) make sure to inherit your parents credit history. Your years of history should exceed your age. 2) get and use a credit card(s), if you are new call every 6 months and increase your credit limit. 3) keep credit utilization under 15% or less 4) always pay on time. That's pretty much it.
Reasoning behind credit utilisation under 15% please? Saw this in another comment, but couldn’t understand why
10 to 15% seems to be the sweet spot. Low utilization means you aren't over extended or one bad luck event away from being unable to manage.
Occasionally carry a balance and pay interest. This signals to the bank you’re “responsible” and whatnot Paying your bill on time each month, and in full, does not help as much. This is why you need an auto loan or mortgage to get a perfect 850. You *need* to pay interest to move up.
It’s a myth that you need to carry a balance. I used to work on credit scoring APIs, very certain they don’t care.
Terrible advice. I know you are trolling but someone may actually believe this so clarifying that this is a joke.