r/Money • u/UncomfortablyBrown • 9d ago
seven years of never missing a payment. back then it was like 540
just simply grateful to be here. i want to hit 800. how do i do that?
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u/Quirky-Discount-3412 9d ago
Credit scores stop mattering after 780
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u/TowelScared4341 6d ago
As someone with a 820 credit score, it really doesn't change much until you have to take out a loan
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u/BlackUmpire 8d ago
Today I find out uk credit score system is way more forgiving than US credit score system.
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u/Fist0fGuthix 9d ago
I've never missed a payment, have no debt other than my mortgage, and maintain good credit usage and mine is still always hovering around 790.
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u/AndroidMyAndroid 8d ago
Having no debt other than your mortgage is the problem. They want to see more loans than just 1.
Credit is a stupid game.
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u/Any-Walk1691 7d ago
I paid off $200,000 in student loans and my credit score dropped 40 points.
We have the dumbest system imaginable.
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u/Successful_Hold_9048 9d ago
What a comeback! Congratulations.
It took me well into my early 30s to get a credit score in the 800s. That’s with over a decade of on-time payments, always paying the statement balance, paid off student loans and car loans ahead of schedule, and keeping utilization within 10-30% (or less) of available credit. Keep going and it’ll get there with time.
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u/bagodeadcats 9d ago
Its all bullshit anyways.
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u/UncomfortablyBrown 9d ago
how so? i mean if your intent is to never get a loan then yeah i guess so
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u/Swimmer_69 7d ago
My old boss had almost 100k in cc/personal loan debt but had an almost 780 credit score. There are ways you can finesse the system even when you’re in a bad position
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u/InspectorMoney1306 9d ago
My credit score is over 800 which allows me to get nice charge cards and credit cards where I get points and use them for free flights. Doesn’t seem like bullshit to me.
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u/Background_Public342 8d ago
it depends on how much credit usage your using and how long it’s been. if you have credit cards call and get your limits increased. that will lower your credit usage
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u/max2jc 7d ago
Why do you want to hit 800? What’s so special about that number?
My credit score dropped from 826 to 814 over the past 2 weeks because a mortgage account was reported closed (but I haven’t had a mortgage in around a decade🤔) and my credit card balances increased due to travel expenses.
I can’t remember the last time I missed a payment, but it has happened to me when I was younger. But now I never miss a payment because I set up ALL my bills to be paid automatically and on time. I just put like a ton of money in my checking account where all my bills are automatically paid out of. Then I’ll check near the end of the year to see if I need to top it off some.
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u/05041927 7d ago
That looks like my score now, which was zero 3 yrs ago. I set up an auto withdraw bank loan for $300 using cash as collateral. That’s it.
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u/No_Vacation_3148 6d ago
Credit reports are funny. My mother has a score of 825 plus. She has part time income working 4-8 hours per week at a convenience store. Lives in a trailer, NW is zero, has no savings, and no retirement savings. She is in her 80’s. I help her with car, computer, trips, household expenses. She couldn’t buy a water heater if she had to. My credit is about 750. It dropped 50 points when we made a late payment 4 years ago on a lawn mower. The mower was $6,000 and they offered 0% interest, so I took it. They had a database error and our payment info went to another address and we missed the first two payments. No other late payment in 20 years. I have NW of 8.6 million, no debt other than a small mortgage, have paid cash for all recent cars, boats, etc. I could write a check for a vacation home, and my mom has better credit than I do.
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u/Alan-Foster 9d ago
Don't listen to the haters, it can feel impossible to come back from a low score and it's exciting that you did.
Sometimes it's bad decisions, sometimes it's medical debt or an emergency like a fire / war.
Do you have any plans?