Credit scores....

[Kern Dog]

Why is it that merely by checking your credit score, it can be lowered, even slightly?
Imagine how stupid it would be that every time you checked your weight on a scale, you gained 5 lbs. What if every time you looked in the mirror, you got just a little bit uglier.

 

[DeltaV]

Because we are all pawns.

 

[davek]

Yep its bull crap if you ask me.

 

[Dennis H]

Mid 800’s. Don’t care.

 

[Fran Blacker]

My Discover card lists credit score and its varied by 45 points not in one jump. Paid off every monthly card balance since 2000. Why it jumps around, don't owe a dime?

 

[beanhead]

That is pretty lame huh...they need to change that with all the fraud that happens nowadays. You need to monitor your credit almost monthly. I get alerts and stuff which helps, but I haven't gone the 'lifelock' route yet.

 

[Fran Blacker]

Was in last week Lowe's an have a Lowe's credit card, expired. Didn't use it in years, so girl said fill out this on the computer screen. Filled in a couple questions and oh crap my credit is frozen. Yep rejected, but now know it is for sure.
Edit: Froze it after Equifax breach.

 

[GetX'd]

Why is it that merely by checking your credit score, it can be lowered, even slightly?
Imagine how stupid it would be that every time you checked your weight on a scale, you gained 5 lbs. What if every time you looked in the mirror, you got just a little bit uglier.

I don’t know about everyone else but...... your examples seem to fit with my profile. That’s why I don’t step on the scale or rarely look in the mirror.... I thought it came with age - didn’t know my credit score had anything to do with it.....

 

[Ironbuilt]

Why is it that merely by checking your credit score, it can be lowered, even slightly?
Imagine how stupid it would be that every time you checked your weight on a scale, you gained 5 lbs. What if every time you looked in the mirror, you got just a little bit uglier.

Checking your credit score and running your credit report are two different things. Checking your credit score is free and does not hurt your report.
You must have appllied for new new acct.

 

[Kern Dog]

This was just an observation. I have not applied for credit in awhile. The practice though...of getting a credit application ran negatively affecting your rating just seems shitty.

 

[GetX'd]

I froze my credit with all the credit bureaus a couple years ago after a number of major breaches. Have the credit cards I need and don’t need any loans. If I need to borrow money for some unforeseen reason I got a HELOC before I did that. I don’t worry about my rating but do agree that it’s pretty arbitrary to change your score because you accessed it. The finance world is a finicky one.

 

[65RoadRacer]

I think the mirror/getting uglier thing is what happened to me.
Sucks.

 

[Kern Dog]

I think the mirror/getting uglier thing is what happened to me.
Sucks.

I had a shocker when I got a new picture for my drivers license a few years ago. My face looked puffy and my eyes seemed pinched and squinty. I blamed it on an early morning DMV appointment but started thinking....Is THIS what I really look like ???

 

[Slap Stick]

What is this credit thing you speak of?

 

[moparnation74]

Was in last week Lowe's an have a Lowe's credit card, expired. Didn't use it in years, so girl said fill out this on the computer screen. Filled in a couple questions and oh crap my credit is frozen. Yep rejected, but now know it is for sure.
Edit: Froze it after Equifax breach.

I too have mine frozen. For all three bureaus....makes for a slight inconvenience but all least I know I am 100% protected....

It is total BS to get dinged for a check etc. imagine financing a new home build and the lender blindly will check your credit multiple times before you actually close. Possibly bringing your score down to pay a higher rate. It’s a sick world.....

 

[1967coronet440]

I too have mine frozen. For all three bureaus....makes for a slight inconvenience but all least I know I am 100% protected....

It is total BS to get dinged for a check etc. imagine financing a new home build and the lender blindly will check your credit multiple times before you actually close. Possibly bringing your score down to pay a higher rate. It’s a sick world.....

That’s exactly what happened to me when I bought my house. They pulled my credit so many times it went down and all of a sudden last time they pull it when I went to lock in my rate oh your score went down now you’re paying more a month. If I didn’t like the house so much I would’ve walked off on the deal.

 

[1967coronet440]

Can someone explain what it means to have your credit “frozen” I’ve never heard of that.

 

[moparnation74]

That’s exactly what happened to me when I bought my house. They pulled my credit so many times it went down and all of a sudden last time they pull it when I went to lock in my rate oh your score went down now you’re paying more a month. If I didn’t like the house so much I would’ve walked off on the deal.

That possess me off and sorry to hear that.....

These are areas that should be taught in school...to learn by getting screwed is criminal imho....

The house I am building now in the beginning I told the lender you get a check in the beginning and one before we lock the rate. That’s it and if you don’t like it well piss off.....The day I got approved I locked it a minute after that.....they didn’t enjoy my email stating it was locked immediately imagine that....

The only person that protects themselves is yourself....the lender does not care...

Ever wonder why a car dealer wants your license before a test drive? It is not for safety....they text the salesman during your test drive if your good or not....I never give them my license and they give a rebuttal but I still get a test drive, lol....safety, right!

It’s all about the money and never about the person....

 

[moparnation74]

Can someone explain what it means to have your credit “frozen” I’ve never heard of that.

A credit freeze mean you go online and pay a small fee and varies by states. It is a one time fee. Once frozen you get a PIN. So whenever you do anything that requires a credit check you have to ask which bureaus they use and then unfreeze and pay a one time fee.

Then once they check you freeze again. Usually cost ten bucks or less.

Any credit you have active it does NOT affect....it only applies to creating new accounts etc...

So no one and even you cannot open a new account until you unfreeze it...

So NO you don’t need a company that wants you to pay monthly for protection they only offer possible insurance but you can at anytime get scammed...a freeze you have zero chance to get scammed

 

[Gone]

Why is it that merely by checking your credit score, it can be lowered, even slightly?
Imagine how stupid it would be that every time you checked your weight on a scale, you gained 5 lbs. What if every time you looked in the mirror, you got just a little bit uglier.

Here ya go. Now you have the facts.

https://www.gobankingrates.com/credit/credit-score/checking-credit-score-lower/