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The CFPB has a new acting director, Dave Uejio, who recently replaced Trump appointee Kathleen Kraninger. In a CFPB blog post dated Jan. 28, Uejio stated his two main priorities would be “(1) relief for consumers facing hardship due to COVID-19 and the related economic crisis, and (2) *racial equity.”*

>The CFPB has a new acting director, Dave Uejio, who recently replaced Trump appointee Kathleen Kraninger. In a CFPB blog post dated Jan. 28, Uejio stated his two main priorities would be “(1) relief for consumers facing hardship due to COVID-19 and the related economic crisis, and (2) ****racial equity.”****

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[–] • 1 pt

Your credit score is basically a measure of how much interest they can squeeze out of you. When debt goes away, your score drops.

Their excuse is that your mix of credit variety has reduced, and the average age of your open accounts is lower. It does not matter that you paid off your debt, debt free people do not pay them interest.

Therefore, if you go get a new car and roll the last few payments into buying a new one they will give you even more money and a better interest rate. on top of this, you're probably going to trade that other car in since they forced you to either incur more debt or be lent less in the future. Then they get to charge someone else interest when the dealership resells your trade in. Dare to be responsible, and they will punish you. stay in debt, and they will reward you.

https://www.moneyunder30.com/paying-off-an-auto-loan-is-bad-for-your-credit-score

[–] • 0 pt

Never rolled a single debt.

[–] • 1 pt

Me neither, but i get to watch the score fall after paying off loans or car payments with 100% on time payments.

[–] • 0 pt

Perhaps because you have less credit extended to you? Therefore considered less credit worthy?