Joey Graziadei, fiancée living with her friends after she quit her job, his credit score tanked

[hewontgo]

‘Bachelor’ star Joey Graziadei, fiancée living with her friends after she quit her job, his credit score tanked https://t.co/bibrQkjgTL pic.twitter.com/fsJUlSJ30N
- Page Six (@PageSix) June 13, 2024
Joey Graziadei, 29, admitted that his credit score tanked while he was filming and he’s now living with his fiancée Kelsey Anderson, 26, and her friends

Comments

[oneeyedjuliet]

The way credit scores work in the US terrifies me. It's an absolute dystopian nightmare.

[dejatrue]

[distant_lines]

Yes! I keep getting told that it's hurting my credit that I don't have any loans out. It's all a big, fucking capitalist scam. The whole point is to show you're good with money, so naturally, not having debt shows you're a riskier bet?! Make it make sense.

[totteringg]

It's not about showing you're "good with money" because they don't care about that at all, it's about showing that you're a person who's borrowed before and who has consistently made their payments because they want to know you'll make your payments to them in the future. Having no recent payment history makes you seem like a worse bet than someone who also doesn't have debt but has a demonstrated history of making payments on time.

You don't need to have loans out or any debt but having a credit card open that you barely use and pay off every month to keep your utilization low shows that you already have access to credit and are using it responsibly.

[distant_lines]

You're assuming I don't have credit cards. I have an insane credit limit, put every single purchase on those cards, and carry $0 debt and have for years. Yet it's the not having a loan that they keep emailing me about.

[totteringg]

If they're emailing you about it, they're trying to sell you something. They're not just giving you free advice.

[dnttllhrry]

My credit shot through the roof after I paid off my car. 🤷🏽‍♀️

[dejatrue]

[dnttllhrry]

Probably the amount of overall debt you have. I have student loans which take up 90% of my overall debt, so lowering the amount helped my score.

[dejatrue]

[totteringg]

Credit Karma makes money off of people signing up for new loans or credit cards through them so they're always going to say you need to take out more.

[alwayspolaris]

I will never understand why getting a credit check tanks your score? Mine was 830 before I bought my home but I was shopping around for loans and 3 places doing a check apparently brought it down below 800 even before I got the loan! At least having the mortgage loan doesn't hurt me, score-wise.

I original built it up though by having 2 credit cards I used for everything and *immediately* payed off (used to be day-of, now it's twice a month), and just asking for a sizeable limit increase at least once a year (rather than just waiting for them to offer it). Asking for a credit limit increase that you Do Not Use will bring up your score after a month or so. Don't do this if you're someone who will use that credit though.

[colorheartsgrey]

It really is. When I was like 20 I needed to get a very small auto loan for a new used car but they denied me because I didn't "have a history of credit" and I was like...no shit.