I buy things on credit card, and pay the full amount off, but my credit score is going down instead of up?

I have nothing else my name expect this credit card, and student loans that are not due yet because I am still in college.

  • Pikapi [none/use name]
    ·
    2 years ago
    1. Always ask for fee refunds.
    2. If you are a transactor (aka you pay your last statement balance in full basically every month) then you need to ask for a finance aka interest charge removed when you ask for a late fee refund.
    3. Never close a card, that hurts your credit. To keep a card open, just spend three or so dollars every couple months.
    4. Do not just open a new credit card. Research cards that are offering 0% apr balance transfers. Be aware that there are balance transfer fees so calculate the pros and cons before doing anything.
    5. When in doubt, say that you think the bank is acting unethically. Bullshit a specific reason. Things are escalated as soon as you say the magic word, illegal.
    6. Can I speak to your supervisor is also the magic word, people will call you a Karen but they have more access to the system and more ways to give up and get rid of you.
    7. Credit card agencies and banks are leveraged to hell and back and overly reliant on outsourcing labor. They will cut back during the downturn. They are not trustworthy. They have literally suckered people with secure cards tied to real assets and they haven’t done due diligence on whether there are competing claims.
    • Goadstool
      ·
      1 month ago

      deleted by creator

    • KiaKaha [he/him]
      ·
      2 years ago

      Man America’s so weird.

      Down here in Aus and NZ, you can open and close as much as you like. All the banks care about is the max you can draw on at any one time (lower is better), the amount of money you owe (again, lower is better) and whether you’ve missed any payments (again, lower is better).

      You can churn through multiple cards every year to maximise sign up bonuses, no problem.

      • prismaTK
        ·
        1 year ago

        deleted by creator

        • KiaKaha [he/him]
          ·
          2 years ago

          That’s weird. The banks here just look at your income vs your (potential) outgoings. If you have a line of credit, they just assume it can be maxed out, increasing your outgoings.

          It’s why here you people only apply for a credit limit they need, and why people cancel credit cards before applying for home loans.