A lender will look at those things, as well as a credit score. Lots of folks in this thread are mistakenly trying to make credit score more than it is.
That’s not at all a universal rule, and a low credit score can even affect employment in the US.
FICO Credit scores weren’t even invented until 1989, when the US middle class began it’s slow death.
Paying off loans early lowers your score. Using a credit card with a higher limit increases your score. It’s never ever been a way of establishing that a person is trustworthy to receive a line of credit, it is a scam to put more people into debt and keep them there.
No one opts in to have a private company collect (and lose) their private information. You’re born into a credit score.
Ive only ever carried a mortgage and a small car loan as debt. My cc are paid in full every month. My credit is consistently well into the highest category. It’s certainly a game, but an easy one to play if you have any type of self discipline, and I’ve never felt like it’s kept me in debt.
*Laughs in european
At least in France, they look at your income, your eventual debt monthly payments, and see if you will be able to pay more or not.
A lender will look at those things, as well as a credit score. Lots of folks in this thread are mistakenly trying to make credit score more than it is.
That’s not at all a universal rule, and a low credit score can even affect employment in the US.
FICO Credit scores weren’t even invented until 1989, when the US middle class began it’s slow death.
Paying off loans early lowers your score. Using a credit card with a higher limit increases your score. It’s never ever been a way of establishing that a person is trustworthy to receive a line of credit, it is a scam to put more people into debt and keep them there.
No one opts in to have a private company collect (and lose) their private information. You’re born into a credit score.
Ive only ever carried a mortgage and a small car loan as debt. My cc are paid in full every month. My credit is consistently well into the highest category. It’s certainly a game, but an easy one to play if you have any type of self discipline, and I’ve never felt like it’s kept me in debt.