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Personal Finance and Investing

Shermann

(8,750 posts)

16. A thin credit file can be an issue

Reply to question everything (Reply #14)

Sun Nov 1, 2020, 01:52 PM

Nov 2020

...but seems to be largely overstated.

I personally have had a thin file for the past year or two and my rating lowered maybe 20 points. That's not enough to really affect your interest rates if it is a high score to begin with, which you stated is the case.

A thin credit file is a good problem to have in my opinion. You want to have that problem.

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Too many credit cards [View all] question everything Nov 2020 OP

Do you have any major purchases coming up any time soon where you need your credit Squinch Nov 2020 #1

I just refinanced and paid mine all off. Laffy Kat Nov 2020 #3

Thanks. We are considering a new car... have been since last April question everything Nov 2020 #5

In 1982, after a divorce I had a couple of payments left on my car. safeinOhio Nov 2020 #15

I have been telling people for many years that the only car PoindexterOglethorpe Nov 2020 #24

Yes, I would. Get the car and then start to pare down the cards. Squinch Nov 2020 #18

I was very happy to pay mine all off, and have been that way for almost 5 years at least or so. SWBTATTReg Nov 2020 #2

FICO scores on credit card statements? Shermann Nov 2020 #4

Only Discover. Current score on top page question everything Nov 2020 #6

I say ditch it, it's easy to get that score elsewhere nt Shermann Nov 2020 #8

Of course. This is not a reason to keep it, only if closing will lower FICO question everything Nov 2020 #14

A thin credit file can be an issue Shermann Nov 2020 #16

My VISA card statement shows mine. n/t lastlib Nov 2020 #20

I have 2 Visa credit cards, both from Chase. Neither has a credit score on the statement progree Nov 2020 #21

Finance related but not truly addressing your post, yesterday I was told that banks are in2herbs Nov 2020 #7

Local banks - U.S. Bank, TCF - have branches in many supermarkets with many visitors question everything Nov 2020 #11

Interesting Lulu KC Nov 2020 #22

Interesting tid bit, Wellstone ruled Nov 2020 #9

Capital One closed one of my cards lilymidnite Nov 2020 #10

As you get older Dan Nov 2020 #12

2 credit cards and a debit card. I NEVER carry a balance - if I have enuf $ for investments, and progree Nov 2020 #13

I have a Visa that is my only credit card. PoindexterOglethorpe Nov 2020 #17

I never use cash brokephibroke Nov 2020 #19

I use cash because for me it is the best way to manage my day to day spending. PoindexterOglethorpe Nov 2020 #25

You guys are all so wonderful! A HERETIC I AM Nov 2020 #23

I love Discover and use it for everything I can XanaDUer2 Nov 2020 #26