I really don’t understand how Credit works and here’s why:
You need Credit to build Credit and if you don’t have Credit, it’s hard to start building. Sometimes, you need a deposit or an account where you put so much money in first in order to prove you will pay.
Here is my scenario:
The mortgage company said I needed my Credit to go up by 2 points before they do another Hard Pull. The other day my Credit score says one company went up one point and the other went down 12. I’m like, What the heck? Turns out, by using a store card I haven’t used in a while, my Credit score dropped. But, I have already made a payment, in hopes it will go back up quickly. Every payment I make on time..or hopefully earlier…raises my score. If I pay off both my open store accounts, I won’t have any Credit and that would totally hurt me, because I mainly use debit, which is not reported.