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Re: Credit scores
[Re: Mastershake340]
#2894415
03/01/21 03:01 PM
03/01/21 03:01 PM
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Joined: Nov 2003
Posts: 10,228
Colleyville
3hundred
I Live Here
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I Live Here
Joined: Nov 2003
Posts: 10,228
Colleyville
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It would be interesting to know the exact formulas the credit agencies use to calculate scores. Discover provides you your score every month using a link to your online statement, so I check it monthly. I’ve never missed a payment or ever am late with bills, and my score was always been very high, even showing perfect 850 several times. Still paying all my bills in time, yet lately my score has fallen 30-35 points. I paid off my mortgage about a year and a half ago, and what was left on my HELOC balance around this time last year. Did paying off what was left of my debt hurt my rating?  Similar experience here. Paying off the mortgage hurt the score, never had a HELOC. Paying the credit card balance on a revolving basis rather than let it roll a month and pay a balance also hurts the monthly score. We get ours from experian, I recall once I saw a blurb about a minor score (9 point) drop not hurting your credit rating, I don't know what to make of that.
'68 Fury Convertible
'69 300 Convertible
'15 Durango 5.7 Hemi
'16 300 S Hemi
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Re: Credit scores
[Re: tboomer]
#2894420
03/01/21 03:16 PM
03/01/21 03:16 PM
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Joined: Dec 2003
Posts: 22,695
Bitopia
jcc
If you can't dazzle em with diamonds..
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If you can't dazzle em with diamonds..
Joined: Dec 2003
Posts: 22,695
Bitopia
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So to keep it real, I understand the lowest score is 300?, wonder how they decided on that number, rather than 0?
How does one get that number?
Must be a secret, never heard of anyone yet to share that achievement.
Reality check, that half the population is smarter then 50% of the people and it's a constantly contested fact.
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Re: Credit scores
[Re: Jim_Lusk]
#2894463
03/01/21 04:18 PM
03/01/21 04:18 PM
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Joined: Jan 2005
Posts: 8,341
Crook County, ILL
Mastershake340
master
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master
Joined: Jan 2005
Posts: 8,341
Crook County, ILL
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Credit card companies call people like me who pay off their balance every month and reap rewards credits “deadbeats”!  Tell the car salesman you are dealing with that you intend to pay cash for your new ride, and their interest in making a good deal for you will instantly fall off a cliff. Interesting world we live in where managing your money responsibly is considered a negative by so many!
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Re: Credit scores
[Re: Mastershake340]
#2894473
03/01/21 04:36 PM
03/01/21 04:36 PM
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Joined: Dec 2007
Posts: 19,855
Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 19,855
Puttin' on the foil in Charles...
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My wife and I are usually in the 8-teens to 820s.
Even if you choose to live on cash only, it doesn't hurt to maintain a good credit score in case an emergency happens and you absolutely have to borrow money. Ease of approval and low interest rate are worth the minimal effort required to maintain a good credit score.
Earning every penny of that moderator paycheck.
DBAP
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Re: Credit scores
[Re: tboomer]
#2894615
03/01/21 11:05 PM
03/01/21 11:05 PM
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Joined: Jan 2003
Posts: 4,225
Bloomington, IN
HoosierTA
master
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master
Joined: Jan 2003
Posts: 4,225
Bloomington, IN
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Okay, my question is why they need your credit score, as administrator of the estate? And doesn’t having your credit score ran, adversely affect your score?
The credit score trolls don’t care about why something happens, just that it did. Slimy devils.
'70 Challenger R/T 383
'16 Hemi Durango SSV (work vehicle)
'15 Ram Police SSV
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Re: Credit scores
[Re: Ramrod39]
#2894636
03/02/21 01:31 AM
03/02/21 01:31 AM
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Joined: Jan 2003
Posts: 16,810
Between Houston & Galveston TX
SattyNoCar
Smarter than no class Flappergass by a mile
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Smarter than no class Flappergass by a mile
Joined: Jan 2003
Posts: 16,810
Between Houston & Galveston TX
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Okay, my question is why they need your credit score, as administrator of the estate? .  I probably would have told them to stuff it. I would want to honor my friend but the necessity of a credit check would have to be explained to me. Just did a quick google search, and came up with this. Rather than make you read thru the whole page, I'll just post what I think applies in your situation.......... I f you Dad did not leave a Will, then an administrator must be appointed and if the estate is in excess of $10,000 in value, then a bond will need to be appointed. A bond is an insurance policy and the insurance company will want to make sure that if the administrator does anything wrong in administering the estate and it has to pay a claim, they have someone from whom they can collect for the payment of the claim. So good credit may be essential for getting a bond, but often times even with poor credit, if you have assets or a co-signer, a bond can be issued. So, it looks like the score has to do with getting a bond. Lawyer Linky
John
The dream is dead, long live the dream.......😥
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Re: Credit scores
[Re: slantzilla]
#2894653
03/02/21 06:15 AM
03/02/21 06:15 AM
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Joined: Jan 2003
Posts: 25,891
United Socialist States of Ame...
tboomer
OP
Too Many Posts
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OP
Too Many Posts
Joined: Jan 2003
Posts: 25,891
United Socialist States of Ame...
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Sorry to hear about your brother Dennis. My friends estate is more than 10 grand but probably less than 20. The credit xcheck is no biggie like I said but I thought it wass odd. He did not have a will.
Need your rear end checked out? Contact Grizzly!!
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Re: Credit scores
[Re: Mastershake340]
#2894689
03/02/21 09:32 AM
03/02/21 09:32 AM
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Joined: Dec 2009
Posts: 20,626
in a cattle trailer down by th...
Guitar Jones
Paddle faster! I hear banjo music!
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Paddle faster! I hear banjo music!
Joined: Dec 2009
Posts: 20,626
in a cattle trailer down by th...
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Credit card companies call people like me who pay off their balance every month and reap rewards credits “deadbeats”! Tell the car salesman you are dealing with that you intend to pay cash for your new ride, and their interest in making a good deal for you will instantly fall off a cliff. Interesting world we live in where managing your money responsibly is considered a negative by so many! Not really, the salesperson doesn't get any money from financing but the finance guy does. Salesperson couldn't care less where the money comes from.
"Follow me the wise man said, but he walked behind"
'92 D250 Club Cab CTD, 47RH conversion, pump tweaks, injectors, rear disc and hydroboost conversion.
'74 W200 Crew Cab 360, NV4500, D44, D60 and NP205 divorced transfer case. Rear disc and hydroboost coming soon!
2019 1500 Long Horn Crew Cab 4WD, 5.7 Hemi.
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Re: Credit scores
[Re: slantzilla]
#2894699
03/02/21 09:47 AM
03/02/21 09:47 AM
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Joined: Jan 2003
Posts: 7,538
Albany, NY
67SATisfaction
The member whose name is actually Art
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The member whose name is actually Art
Joined: Jan 2003
Posts: 7,538
Albany, NY
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I'm executor of my brother's estate. No credit check on me. Because you were appointed Executor in his Will. An Executor is appointed in the Will and distributes the Estate according to the directions and wishes of the deceased outlined in the Will. In the other cases, you can read above, there was no Will. So an Administrator is appointed and acts to distribute the Estate. An Administrator has no Will to guide them, so is at higher risk of being challenged by unhappy heirs, family, creditors, etc... so the insurance or bond is put in place. Fun stuff. - Art
Last edited by 67SATisfaction; 03/02/21 11:04 AM.
65 Satellite hardtop 361/4bbl console 727 2.76
67 Satellite convert 383/2bbl column 727 3.23
67 Lancia Fulvia Sport 1.3 Zagato. Alloy body, 1.3L V4 DOHC 4-spd
67 Lancia Fulvia Rallye 1.3. Alloy panel, 1.3L V4 DOHC 4-spd
71 Alfa Romeo GT Junior 1300 Zagato, 1.3L 4cyl DOHC hemi 5-spd
82 Alfa Romeo GTV6 2.5L SOHC hemi V6 5-spd transaxle
75 Maserati Bora US spec 4.9L DOHC hemi V8 5-spd ZF
77 Maserati Khamsin Euro spec 4.9L DOHC hemi V8 5-spd ZF
07 Aston Martin DB9 6.0L DOHC V12 6spd transaxle
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Re: Credit scores
[Re: Mastershake340]
#2894724
03/02/21 10:42 AM
03/02/21 10:42 AM
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Joined: Jan 2003
Posts: 2,768
St. Louis, Missouri area
Cometstorm
"Beat It"
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"Beat It"
Joined: Jan 2003
Posts: 2,768
St. Louis, Missouri area
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Credit card companies call people like me who pay off their balance every month and reap rewards credits “deadbeats”! Tell the car salesman you are dealing with that you intend to pay cash for your new ride, and their interest in making a good deal for you will instantly fall off a cliff. Interesting world we live in where managing your money responsibly is considered a negative by so many! So true... Wife and are top notch credit clean. No mortgage for decades, no car payments since the 1980 ‘s, pay credit card off every month for a 2 % kickback, charge everything we can to increase kickback. Got approx $1700 back in rewards last year. FICO score never breaks over 815...
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