My credit score remains about 550 at one company, 615 at another. Any yet, I’m only carrying $7,000 in total debt, no late payments in the two years reported, and no derogatory remarks and nothing in collections.
And yet, I haven’t gotten my credit score to go up in years. If I paid off every penny today, I assure you, my score wouldn’t go up at all. This all began years ago when I became a very vocal Patriot.
The Deep State has a vested interest in low balling credit scores for the public. They want us to feel powerless and destitute. But compared to other normies, I have had to live with this BS credit score for years and years. And there’s very little recourse.
I’ve heard other patriots complain. Anyone else here dealing with this?
The best way for you to build up credit is to take out 3 or 4 credit cards or accounts, then only charge up to 10% of the allowable credit. DON'T pay them off.
Imagine having 4 credit cards, each with a $1,000 allowable credit. You charge $50 on each, so stay at 5% of allowable.
Each month, make a $20 payment on the card... but then make sure you buy $20 worth of something using the card to keep the balance going. Every month, pay $20 and then charge $20 to buy something (groceries, gas, etc...).
You will be surprised how fast your credit score increases by 100 points.
It's a game that you need to learn to play.
This is effing ridiculous, right? I have five credit cards. I pay them on time each month. I have no derogatory remarks or collections. Just because I’m too close to the balancesbis causing me to have a 515 credit score?
That's what is doing it. If your card balance is more than 75% of available credit... then pay on time all you want... your score will never go UP. If you get close to or at available credit limit, your score goes DOWN no matter how regularly you pay.
If you can get the balance down to below 50% on each card or credit account and pay regularly, your score goes UP a little each month. If you get the balance down to below 25% of available credit and pay regularly, the score goes UP considerably each month. If you get down to 10% of available credit limit and pay regularly... watch your score go into the 700's pretty quickly.
When your credit card balances stay above 75% of available credit, you aren't going to make any progress at improving your credit score. Between 50% and 75%, you will only make small improvements in the score over time. Where you really make progress is to get the balances below 50% of credit available and KEEP IT THERE. Do NOT pay off the card, but always carry a small balance on it.
Yes, you will have small interest fees on the minor balance you carry on the card. However, your credit score goes up dramatically. You will save far more money in the long run.
Thank you for this really great explanation. The whole thing is absolutely ridiculous. But I’ll do that!