4 ms·

Apparently they want to see you hold a balance, but not too much, to get in the good graces of the credit agencies. And my issue with them is more philosophica

• Sohcahtoa82 4y ago
  > Apparently they want to see you hold a balance, but not too much, to get in the good graces of the credit agencies. Needing to carry a balance to improve your credit score is a myth. Besides, your credit card balance is sent to the credit reporting agencies only once per month. If you're using your card for all your purchases, then unless the balance is sent on the day you paid off your card, a balance will be reported, so even if the above is not a myth, you're still fine. > And my issue with them is more philosophical than practical, I have to play their silly games to get a VA loan, which I believe I’ve fully earned, but nobody said I have to like it. For a VA loan, yeah, I agree. Theoretically, you've earned the right to a loan because of military service. Other than that, though, I fully support the credit reporting/scoring system as-is. Banks need a way to know if they can trust you to make payments on a loan. Without it, banks would need to charge everyone much higher interest rates because there would be even more fraudsters taking out loans they have no intention on repaying.