Here’s something I didn’t know, which I’m sure others do. I have taken no notice of my credit rating as I have no mortgage, money in the bank and I pay off debts on time. Out of curiosity I checked my credit rating history.
Back in early 2018 I had an excellent credit rating of 850. Within a year I was “okay” on 580. What happened? In order to chase frequent flyer I started applying for additional credit cards. I took advantage of interest free credit transfers and started moving credit from card to card, while still keeping the old cards open, with zero balance.
Even though the amounts transferred were around $3-4k, simply having those cards open with a cumulative credit limit of over $50k did the trick apparently.
Anyway I just closed three open, zero balance cards, so hope to see a bounce back.
Why? In case any kids want me to guarantee housing loans.
Back in early 2018 I had an excellent credit rating of 850. Within a year I was “okay” on 580. What happened? In order to chase frequent flyer I started applying for additional credit cards. I took advantage of interest free credit transfers and started moving credit from card to card, while still keeping the old cards open, with zero balance.
Even though the amounts transferred were around $3-4k, simply having those cards open with a cumulative credit limit of over $50k did the trick apparently.
Anyway I just closed three open, zero balance cards, so hope to see a bounce back.
Why? In case any kids want me to guarantee housing loans.
via International Skeptics Forum https://ift.tt/2Z92bnw
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