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

      To be fair high financial equity basically requires you to have some sort of credit that can be leveraged as well as some sort of debt to offset operating costs. Think of it like futures except you’re betting on yourself.

    • Owl [he/him]
      ·
      2 years ago

      I did what you did for a long time, then when I wanted to buy a house I had to first get a credit card for a year. I think I used it for my groceries and phone bill only.

      Totally rational system btw.

      • forcequit [she/her]
        ·
        2 years ago

        Is that how it's done? Cos I can't fathom saving 5 figures, let alone 20% for a deposit

        • Owl [he/him]
          ·
          2 years ago

          Oh no, having an extraneous credit card is on top of saving up for a deposit.

          (And you can pay less than 20% for a deposit, but if you actually need to, they're going to fuck you over very badly.)