When someone says “I’ve finally paid off my credit card,” I take that to mean they got it to a $0 balance. In your mind, someone saying “I’ve finally paid off my credit card” means they’ve closed the account entirely? This confusion contributes to financial illiteracy and to people making bad decisions.
Paying off means the thing that is logical here.
If you could be mature enough to…at least admit it was unclear
But reliability is 100% the purpose of credit scores. You can pay down a credit card every month and never pay a cent in interest, and you can have the highest score. Having the credit available to you costs you nothing, why close it?
I did, it didn’t help, you said it couldn’t possibly make any sense to close an account you’re done with, so I’m done here. And come off it about “insulting me”. You told me I was hurting financial literacy for literally just observing how people talk.
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When someone says “I’ve finally paid off my credit card,” I take that to mean they got it to a $0 balance. In your mind, someone saying “I’ve finally paid off my credit card” means they’ve closed the account entirely? This confusion contributes to financial illiteracy and to people making bad decisions.
C’mon, man.
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But reliability is 100% the purpose of credit scores. You can pay down a credit card every month and never pay a cent in interest, and you can have the highest score. Having the credit available to you costs you nothing, why close it?
I’m done with this stupid conversation. You’re apparently under the illusion that capitalism is fair and works.
I’ve seen first hand that the credit score system doesn’t work the way you’re saying. If you think it does, this is pointless.
You’re welcome to explain rather than continuing to insult me
I did, it didn’t help, you said it couldn’t possibly make any sense to close an account you’re done with, so I’m done here. And come off it about “insulting me”. You told me I was hurting financial literacy for literally just observing how people talk.
Where did I say this? I just recall saying “paying off” and “closing” are two different things