Even though you paid off the first period this change may not have been reflected on your credit report yet, so they may see it as “unpaid” or “not yet paid” past due date, it will most likely correct itself when your bank reports the payment to the credit bureaus. You can check for it under the credit card’s repayment history section.
Mine has as well since I churned opened 2 cards 90 days apart. Waiting to see what happens because I see people saying they churn a card every 4-6 weeks with no impact to their credit score, or it even increased.
We’re not America. Repeatedly churning credit cards will drop your credit score here. It will improve slowly if you stop applying for new credit.
How much the score itself matters is up for debate (imo very little), but it certainly didn’t stop me from getting a mortgage.
The score itself does fuck all. No serious lender uses a score to check your suitability for credit.
Your credit report (ie. the thing that documents all your applications for credit, current credit accounts - mortgages, loans, cards etc, and payment record) will affect you ability to access loans. My understanding is that your report won’t affect your interest rate per se, but if its poor, then only lenders with higher risk tolerance (and so higher interest rates) will accept you as a customer.
Pray to fuck that the dystopian credit score system that rules american society doesn't take root here. It always amuses me to see them giving the chinese shit about their social credit score, when they have basically the same thing themselves.
The act of applying for credit within a shot period of time does adversely affect your credit score. Part of the scoring mechanism is the type of credit, the frequency of credit applications, and who you're seeking credit from.
The best way to increase your credit score is through time and by not applying for credit.
Yea mines consistently dropped over the past months that i've had my credit cards. I did churn through 3 in like 6 months though.
this is my first credit card
Even though you paid off the first period this change may not have been reflected on your credit report yet, so they may see it as “unpaid” or “not yet paid” past due date, it will most likely correct itself when your bank reports the payment to the credit bureaus. You can check for it under the credit card’s repayment history section.
It fucking better. I’ve churned 6 in 12 months 😩 never missed a payment and all paid off in full but Jesus don’t fuck with my rating
Mine has as well since I churned opened 2 cards 90 days apart. Waiting to see what happens because I see people saying they churn a card every 4-6 weeks with no impact to their credit score, or it even increased.
We’re not America. Repeatedly churning credit cards will drop your credit score here. It will improve slowly if you stop applying for new credit. How much the score itself matters is up for debate (imo very little), but it certainly didn’t stop me from getting a mortgage.
does a higher credit score give you a more favourable interest rate or is it just how large your mortgage can be?
The score itself does fuck all. No serious lender uses a score to check your suitability for credit. Your credit report (ie. the thing that documents all your applications for credit, current credit accounts - mortgages, loans, cards etc, and payment record) will affect you ability to access loans. My understanding is that your report won’t affect your interest rate per se, but if its poor, then only lenders with higher risk tolerance (and so higher interest rates) will accept you as a customer. Pray to fuck that the dystopian credit score system that rules american society doesn't take root here. It always amuses me to see them giving the chinese shit about their social credit score, when they have basically the same thing themselves.
The act of applying for credit within a shot period of time does adversely affect your credit score. Part of the scoring mechanism is the type of credit, the frequency of credit applications, and who you're seeking credit from. The best way to increase your credit score is through time and by not applying for credit.
How does one check their credit score?
Credit savvy app I use