this post was submitted on 23 Oct 2023
1274 points (96.0% liked)
4chan
4232 readers
3 users here now
Greentexts, memes, everything 4chan.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
That's not why it went down. It probably went down because they had less credit extended to them after paying off the loan. How much credit you're using affects your score.
They don't care that u paid it off early. They care that your loan to income ratio just took a hit.
That doesn't really make sense either. Why would a high amount of debt relative to income be a good thing? How does it indicate a person is more likely or capable of paying off a loan? If anything it means the opposite.
Because it's a racket
A high amount of debt to income is absolutely a bad thing, both in life and for your credit score
Lol 5hey want u to carry a higher balance. It's not that hard.
Sounds good!