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@Turdicus@poa.st

Post #2144858

2026-04-23 20:51 UTC

Bank told my foid that paying off her credit card debt all at once would hurt her credit score. I hate banks so much dude it’s unreal. This is untrue right?

Replies (9)

  • @WoodshopHandman@poa.st 2026-04-23 20:54

    No, it's true.

    Open ##2159521

  • @PunishedD@poa.st 2026-04-23 20:57

    @Turdicus Completely untrue, unless she used another loan or CC to do it. Credit score looks at the ratio of debt to credit limit, and total # of accounts you have open. There's a slight effect from having a track record of repeating (reliable) payments. If she is literally paying nothing anywhere else, and has no previous payment history, that could affect her score. But if she regularly pays some bill, especially with a CC, she's fine.

    Open ##2159527

  • @sapphire@shortstacksran.ch 2026-04-23 20:58

    @Turdicus it’s marginally true: the impact isn’t from paying it off, it’s from closing the account if she’s doing that as well

    Open ##2159528

  • @BowsacNoodle@poa.st 2026-04-23 21:11

    credit cards? no. Revolving debt like cards stay open. Loans yes. Utilization rate is second biggest impact on score after payment history

    Open ##2159529

  • @James_Dixon@poa.st 2026-04-26 02:41

    > This is untrue right? It's probably true. But unless she's planning on buying a house what does she care about a credit score? It's not a factor in your day to day life.

    Open ##2159530

  • @VIcFury@poa.st 2026-04-26 05:59

    https://youtu.be/5Jlc69wqNA0

    Open ##2159534

  • @pepsi_man@poa.st 2026-04-26 06:39

    @Turdicus Nah it's real, but here's the life hack. Credit scores don't fucking matter. Pay cash and if you can't afford it, don't buy it.

    Open ##2159535

  • I don't know about now, but when I last looked it was not true. It won't GROW your credit score, but it won't diminish it either.

    Open ##2159536

  • @vonzeppelin@poa.st 2026-04-28 15:40

    maybe a small temporary dip, but pay them off anyway. don't pay cc interest unless you absolutely have to. unless you're taking out a loan for a car or house, credit score doesn't matter anyway. if you are, you can pay the cards in full every month and still have a good score

    Open ##2159538