My Experience with Lone Star Transportation

when ever you apply for credit , it drops your score.

if your are shopping for an item, such as a car , dont let anyone run the credit until you know the one you want. if they run your credit if affects your score. thats probably more likely what happened.

but 20 points on a great score wont affect you at all.

people that go and apply for credit willy nilly get popped good.

and also closing an account affects you also, when closing an account you have less avaiable credit, thus lowering your score. it is a racket

 

Skateboardman is correct, and that is one of the flaws with the way they calculate your score. Why should the number of credit checks affect your creditworthiness? I could have my credit checked 100s of times and it would not affect my ability to repay a loan.

 

Applying for a credit card or any type of loan that does a credit check will affect your score... only if you've had multiple checks done by a bank, dealer, etc... One or two every few years does not affect the credit score.

 

I'm the opposite. After I had nearly recovered from a youthful uck fup and rebuilt my credit score back up into the mid-to-upper 700's, I was trying to refinance some loans....cut the interest, and in the case of my mortgage, stretch it out again to 30 years instead of the 25 years remaining on the 30 year loan....make it easier to make ends meet and pay down my debt. If I had got the loans I was looking for, it would have saved me roughly $400/month. The bank told me I couldn't afford the lower payments...that I didn't make enough for them to approve the loans.

So, I said "screw it" and stopped caring. Money got tight last year, and I let a few things slide for a while...never lost a wink of sleep over it. My score isn't anywhere near where it used to be...but I don't care. If there was a way to voluntarily tell the credit reporting agencies to give me a credit score of "1", I would....I'm sure it would cut down on the unsolicited pre-approved credit card offers.

I look at it this way...as long as my credit score is miserable, it doesn't do an identity thief any good to try to steal my identity. If I cannot get a loan or open any credit accounts with my own identity, neither can they.

Anything I need, I've already got. Anything I desire, I can pay cash for. If I don't have the cash, I don't really need it. If I never borrow another dime from anyone ever again, it'll be too soon.

 

It has an impact on the credit score because it's a flag being thrown up that says you might be on the hunt for money. No one is too concerned about their credit score if they have no need to employ the use of banks or other financial sources.

I agree with you, CPAPE. I should be able to check my credit score 10 times a day with out any consequences. The present system is in need of an overhaul, IMO.

 

it isnt when you yourself check your score, it is when a someone checks it for extending credit.

another tip, if shopping for a car and the salesman asks for a copy of your license and ss number dont give it to him. they will say it is required, it is a lie. when they get that they will apply for credit thru their in house finance. they get a cut of the finace charge that way and also many times they will add a point or two to the percentage rate, thus making money off you if you bite the bait. only give that unless you are ready to buy, and need them to finance.

 

The way our credit scores are determined it seems is the same way our government is run. Just a giant game!! Play the game and u get what u want. If someone with money would file a lawsuit to fight the credit system, it would change. But why would they mess up their game... Lol