Author Topic: Assumed Holiday Spending  (Read 2204 times)

CmFtns

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Assumed Holiday Spending
« on: December 22, 2015, 08:33:46 AM »
I received this little email from credit karma and thought it was humorous. They didn't say anything about IF I have extra holiday spending but just clearly told me that I will have holiday spending and that might affect my credit score from the huge percentage my credit utilization will go up.

Quote
Hey Comfyfutons,

Family, food and a roaring fire. The holidays are swell. But just like eating all that pie can pack on a few pounds, gift giving can leave a mark on your credit too.

Your score’s been pretty solid lately, so here’s a friendly heads up: All that holiday spending can raise your credit utilization and do some short-term damage to your scores.

If that happens to you, all is not lost. If you find your score dropping, paying off your bills on-time and getting your utilization back down could help your score recover over time. Check in with Credit Karma every week or two to see how your scores are doing.

Happy shopping,
The Credit Karma Team

P.S. My credit utilization will not go up in the slightest this holiday season screw you credit karma
« Last Edit: December 22, 2015, 09:22:11 AM by comfyfutons »

slugline

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Re: Assumed Holiday Spending
« Reply #1 on: December 22, 2015, 08:47:17 AM »
The seeming paradox is that the best credit scores go to people that don't take full advantage of credit.

shadowmoss

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Re: Assumed Holiday Spending
« Reply #2 on: December 22, 2015, 10:48:04 AM »
I got that email as well, and laughed.  As for the 'best' credit scores going to those who don't use credit fully, maybe not so much.  I am apparently dinged on my credit score for the low number of credit accounts I have open.

TheAnonOne

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Re: Assumed Holiday Spending
« Reply #3 on: December 22, 2015, 10:55:43 AM »
The seeming paradox is that the best credit scores go to people that don't take full advantage of credit.

Right, also, to keep your 'utilization' down, all you need to do is open a new credit card to raise the credit limit of yourself...

I have a high credit score because I credit card churn. My available credit is massive, and I probably hurt the credit card companies overall due to taking rewards without paying interest... Yet, they rank me as one of the best borrowers, further shooting themselves in the foot.

CmFtns

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Re: Assumed Holiday Spending
« Reply #4 on: December 22, 2015, 12:49:13 PM »
I got that email as well, and laughed.  As for the 'best' credit scores going to those who don't use credit fully, maybe not so much.  I am apparently dinged on my credit score for the low number of credit accounts I have open.

The two things that hold my credit back are my lack of non-mortgage loans and length of credit history... which is incredibly stupid ... but you know what I'm not planning on even needing a credit score for the foreseeable future so I'm gonna stop giving a shit what it is lol