• ChaosMaterialist [he/him]
    ·
    9 hours ago

    Paying off a debt also lowers your credit score too! I lost 80 god damn points for paying down my student loans!

    • invo_rt [he/him]
      ·
      6 hours ago

      I forgot about that lol. I finally got debt free assuming my score would go up and it just tanked.

      • goferking (he/him)@lemmy.sdf.org
        ·
        5 hours ago

        Nah, score is all about how much/goof of a debt slave you are.

        So it's entirely built off of you always having some debt not about if you pay it

    • barrbaric [he/him]
      ·
      6 hours ago

      It makes sense, the credit score is a measure of how much money banks and other financial institutions think they can extract from you. Doing things that minimize your total payments loses them money, and so those things lose you points.