Received notification my credit score just dropped 40 points.

[alarmguy]

Prime is 740+, and 800+ will get you special deals but not really a better interest rate. So really there isn't a whole lot to worry about so long as your over 740.

I agree that the whole thing is a giant scam - but you need to remember its of, by and for the bankers so its really not around for our benefit.

There are a lot of things tied to a credit score.
For me, it’s just a hobby.
All I know is nobody pays less in car insurance, homeowners insurance, motorcycle insurance, boat insurance.
Always in the top-tier for any type of loan. Even the type of loans car dealers don’t want you to have we qualify for.
I don’t take out car loans, but we did take one out last November because it only made economic sense.

The full price of my wife’s well equipped Chevy equinox is completely financed that money sits in the bank and collects 4% interest.
The interest on the loan is 0% 36 month loan a GMAC special on that car at the time

For home loan 740 might be a little low for the top-tier rate. It’s accepted 760 to 850.
If you’re using a mortgage broker that might have products available for the very top tier.

Another reason for the loan is, we really were not out to buy a car that day, no checks with us, the money in a high rate online bank in some other state that I don’t even know where. I would’ve had to transfer to a local bank.

Typically, when you see super car deals, it’s tied to credit scores of 780 or more. I’m pretty much past any loan stage in my life and it truly is a hobby. Even without trying, I was always in the top-tier. It’s kinda cool because no matter what type of stipulations a misleading ad might have in the fine print when they put an unrealistic credit score. It would never matter to me even when I was young .

Again like anything for me it’s just a hobby.

““From the standpoint of qualifying for credit, it doesn’t matter whether you have a perfect 850 or a score just below that,” said Ethan Dornhelm, VP of FICO Scores and predictive analytics, CNBC Select reported. “To lenders, a consumer with a score in the 800s is a sparkling applicant.”
https://www.gobankingrates.com/credit/credit-score/credit-score-aim-for-best-rates/

 

[KrisZ]

The social score in China also gives its members nice perks. We're just a few steps behind them

 

[SC Maintenance]

There are a lot of things tied to a credit score.
For me, it’s just a hobby.
All I know is nobody pays less in car insurance, homeowners insurance, motorcycle insurance, boat insurance.
Always in the top-tier for any type of loan. Even the type of loans car dealers don’t want you to have we qualify for.
I don’t take out car loans, but we did take one out last November because it only made economic sense.

The full price of my wife’s well equipped Chevy equinox is completely financed that money sits in the bank and collects 4% interest.
The interest on the loan is 0% 36 month loan a GMAC special on that car at the time

For home loan 740 might be a little low for the top-tier rate. It’s accepted 760 to 850.
If you’re using a mortgage broker that might have products available for the very top tier.

Another reason for the loan is, we really were not out to buy a car that day, no checks with us, the money in a high rate online bank in some other state that I don’t even know where. I would’ve had to transfer to a local bank.

Typically, when you see super car deals, it’s tied to credit scores of 780 or more. I’m pretty much past any loan stage in my life and it truly is a hobby. Even without trying, I was always in the top-tier. It’s kinda cool because no matter what type of stipulations a misleading ad might have in the fine print when they put an unrealistic credit score. It would never matter to me even when I was young .

Again like anything for me it’s just a hobby.

““From the standpoint of qualifying for credit, it doesn’t matter whether you have a perfect 850 or a score just below that,” said Ethan Dornhelm, VP of FICO Scores and predictive analytics, CNBC Select reported. “To lenders, a consumer with a score in the 800s is a sparkling applicant.”
https://www.gobankingrates.com/credit/credit-score/credit-score-aim-for-best-rates/

If you have a 800+ score your likely not in need of a car loan.

You might get better perks on a credit card.

I understand its a hobby for you, and thats great. but I stand by Prime is 740 and people shouldn't worry too much about the blips.

Only so you don't think its sour grapes - I got a new credit card last November that had better cash back. First new credit in more than a decade. It knocked me down to 842. Not that I cared. I only look at this because Bank of Unamerican gives it to me for free. Yes, I also realize if its free I am the product.

 

[alarmguy]

If you have a 800+ score your likely not in need of a car loan.

You might get better perks on a credit card.

I understand its a hobby for you, and thats great. but I stand by Prime is 740 and people shouldn't worry too much about the blips.

Only so you don't think its sour grapes - I got a new credit card last November that had better cash back. First new credit in more than a decade. It knocked me down to 842. Not that I cared. I only look at this because Bank of Unamerican gives it to me for free. Yes, I also realize if its free I am the product.

View attachment 292226

No, I didn’t need a car loan but explained the reason that I took one. When you think of it is no different than getting free cash back on credit cards. Why not collect a couple thousand dollars in interest by leaving the money in my bank since General Motors was giving it to me for free.

Ive explained all my credit card perks in the past.
Anything I buy is 2% cash back, but most things are 5% cashback
2% is the fallback

20% of Americans have credit scores above 800
People like us benefit. I’ll have to disagree that you think 740 is good enough for all things in life, including insurance.

All good

Ps. Just for the record I have edited this post like four or five times it can’t be just me that. BITOG at times just gets completely wonky on Apple devices.I have to log out and then log back in to make changes. So I’m unsure of what version of I post that you are seeing

 

[99Saturn]

I'm reminded I better go get a loan.

 

[Pablo]

So I had this WalMart CO card for buying gold/silver from Walmart several years ago. They sold bullion at a decent discount - shipped direct from the huge bullion dealers/ Excellent, if not the best way to buy because also INSTANT cash rebate useable on the very purchase. Beautiful! I stocked up real good. If you follow. Then WM killed the lower prices, then they killed the rebate. Then they more or less killed the card, became a CO only card.

WM got wise I guess. Too popular!! Hahahaha sure

Anyway, I quit using the card, CO dropped my credit limit from $20K to $5K (I think, something like that) - anyway, my credit score dropped to 820.

What a bunch of turds. I should write a scathing email. Or something.

This stuff is not my hobby!

 

[99Saturn]

So I had this WalMart CO card for buying gold/silver from Walmart several years ago. They sold bullion at a decent discount - shipped direct from the huge bullion dealers/ Excellent, if not the best way to buy because also INSTANT cash rebate useable on the very purchase. Beautiful! I stocked up real good. If you follow. Then WM killed the lower prices, then they killed the rebate. Then they more or less killed the card, became a CO only card.

WM got wise I guess. Too popular!! Hahahaha sure

Anyway, I quit using the card, CO dropped my credit limit from $20K to $5K (I think, something like that) - anyway, my credit score dropped to 820.

What a bunch of turds. I should write a scathing email. Or something.

This stuff is not my hobby!

Pretty sure I saw the Walmart card is coming back with Synchrony Financial. I haven't seen talk of the actual rewards yet.

The credit limit drop and hit is annoying.

 

[wander2039]

Mine’s dropped 23 points since January down to 788. Guess thats what happens when you buy a car in Oct, land in April and a tractor in July. I’ve got thoughts about credit scores but oh well. It’ll probably go up to 815 or so next year. Car will be paid off in Feb.

Good to hear Walmart might be coming back… I really don’t care for the Capital One it turned into.