The specific rule you point out is stupid but easy to hack. Your score didn’t go down because they lost the interest you’d have paid. When you pay off a secured debt, the loaned amount is deducted from your total credit potential, which increases your utilized credit percentage. The hack is to open a line of credit against the secured asset before it’s paid off or another line of unsecured credit. Your credit utilization will drop, thus increasing your score.
My score is over 800 and has been for over a decade. I have like 12 credit cards but only use 2 and pay them off every month… Costco for the store and gas and a high cash back card for everything else. The others I keep open with 1 small purchase each year. Every store wants you to have one, so they’re easy to get. I have added and paid off multiple small to medium (10-60k) secured loans over the years and my score only fluctuates a little for a few weeks then goes back because my total credit with the dozen credit cards is so large.
But most people won’t need to do that any way, it’s overkill for like 99% of people.
If you have a credit card that you use and pay off regularly, a couple of paid off car loans or something like that and no overdue bills on your history, you’ll be absolutely fine.
Exploits A) often benefit the player by letting them skip a lot of work with big rewards, and B) usually get fixed real fast.
Now if doing this meant you never had to work a job in your life again and you could get actually make significant income, sure, I’d consider it an exploit.
The specific rule you point out is stupid but easy to hack. Your score didn’t go down because they lost the interest you’d have paid. When you pay off a secured debt, the loaned amount is deducted from your total credit potential, which increases your utilized credit percentage. The hack is to open a line of credit against the secured asset before it’s paid off or another line of unsecured credit. Your credit utilization will drop, thus increasing your score.
My score is over 800 and has been for over a decade. I have like 12 credit cards but only use 2 and pay them off every month… Costco for the store and gas and a high cash back card for everything else. The others I keep open with 1 small purchase each year. Every store wants you to have one, so they’re easy to get. I have added and paid off multiple small to medium (10-60k) secured loans over the years and my score only fluctuates a little for a few weeks then goes back because my total credit with the dozen credit cards is so large.
I like video games, and the challenges they provide.
The game you’re playing is stupid, and no one should have to install that shit.
Good on you got doing it I guess, but it continues to persist, which is problematic.
It’s not really a game, more of an exploit.
But most people won’t need to do that any way, it’s overkill for like 99% of people.
If you have a credit card that you use and pay off regularly, a couple of paid off car loans or something like that and no overdue bills on your history, you’ll be absolutely fine.
Eh.
Exploits A) often benefit the player by letting them skip a lot of work with big rewards, and B) usually get fixed real fast.
Now if doing this meant you never had to work a job in your life again and you could get actually make significant income, sure, I’d consider it an exploit.
I can’t agree with you on this.
It’s not a game u fucking moron it is a measure of responsibility.
Just admit you’re irresponsible and can’t hack the most simple math required to determine risk.
Fucking assholes blaming the ruler cuz they can’t measure. Lmfao.
No, it’s a game.
And thanks for making it personal. Even tho it was entirely unnecessary.
Dick face.