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Purchases that can harm your credit?

Super Contributor

Purchases that can harm your credit?

Message 1 of 37
36 REPLIES
Established Member

Re: Purchases that can harm your credit?

Ha. Interesting stuff.

 

Thank you for the link!

Message 2 of 37
Frequent Contributor

Re: Purchases that can harm your credit?

BS in my opinion =)
Current Fico's: TU 797 / EQ 785 / EX 775
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Message 3 of 37
Frequent Contributor

Re: Purchases that can harm your credit?

Well if you think about it!!!! most of it makes sense


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Message 4 of 37
Super Contributor

Re: Purchases that can harm your credit?

Lottery tickets? In MA at least you can't buy lottery tickets using credit cards.

 

At the end of the day, it's how you repay; not what you buy. Not sure if credit card companies track spending patterns; maybe they do but as long as you pay your bill on time, I don't see it being a problem. Afterall a credit card is to be used to buy things on credit i.e cmoney that you might not currently have to pay said bills and repay overtime with an interest rate where the companies can make money off you.

 

 




Message 5 of 37
Established Contributor

Re: Purchases that can harm your credit?

Well analytics are being used every day for everything so do i think there are stats kept on such things YES.  do I think a cc company will close an account because I buy sheets at walmart NO.  What they care about is do you pay on time.  If you pay on time at least the minimum amount they don't give a flip what you buy.

 

Just my 1/2 a cents worth.


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Current Score:EX (701) EQ (711) TU (705)
Goal Score: 750
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Message 6 of 37
Moderator

Re: Purchases that can harm your credit?

I simply assume that every transaction I make will be seen and analyzed by the creditor.  I stuff everything awkward on a card I don't care about.  If Cap One wants to close my Orchard account, go right ahead.

 

That said, I doubt Amex will slap me for my occasional bottle of scotch or bar foray.  Quite the opposite I suspect, entertainment screams disposable income, and if not taken to excess (which there's absolutely no chance analyzing my patterns) I doubt they'll take exception to it.

 

Rest of the list looks fairly legit, but taken as individual transactions in the large morass, it's unlikely to trigger anything other than certain ones like cash advances potentially (which historically have been a kiss of death in some cases).  End of the day, I still suspect one's ability to repay outweighs pretty most transgressions and as long as one's DTI comes out clean on whatever internal algorithm they use, I don't think it's something to lose sleep over and admittedly my Orchard abuse is more if I get defrauded on the tradeline.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
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Message 7 of 37
Super Contributor

Re: Purchases that can harm your credit?

some of the items don't make sense.

 

lottery tickets? how is that relevant? I can't dream of being rich for just $1?

 

Traffic tickets? With more and more states / cities going bankrupt, governments are looking to traffic tickets to increase revenue. California is a prime example. Everything is a ripoff, especially if you drive a nice car. If I'm getting ripped off, at least give me my rewards as consolation.

 

Bargain stores? Makes no sense either. Rich people may not necessarily be splurgers. Poor people may not necessarily be frugal either.

 

Income taxes? I mean, why not? Got to pay them anyhow, might as well get some rewards out of it.

 

Personal pampering? What's the clear cut definition of personal pampering? Flying on first class as opposed to Economy is personal pampering. Taking a taxi as opposed to a public bus is personal pampering. Flying on Singapore Airlines instead of United is also personal pampering. 

 

 

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Message 8 of 37
Moderator Emerita

Re: Purchases that can harm your credit?

Pampering and alcohol purchases are surely going to get mine CLD! 😏
Message 9 of 37
Moderator

Re: Purchases that can harm your credit?


enharu wrote:

some of the items don't make sense.

 

lottery tickets? how is that relevant? I can't dream of being rich for just $1?

 

Traffic tickets? With more and more states / cities going bankrupt, governments are looking to traffic tickets to increase revenue. California is a prime example. Everything is a ripoff, especially if you drive a nice car. If I'm getting ripped off, at least give me my rewards as consolation.

 

Bargain stores? Makes no sense either. Rich people may not necessarily be splurgers. Poor people may not necessarily be frugal either.

 

Income taxes? I mean, why not? Got to pay them anyhow, might as well get some rewards out of it.

 

Personal pampering? What's the clear cut definition of personal pampering? Flying on first class as opposed to Economy is personal pampering. Taking a taxi as opposed to a public bus is personal pampering. Flying on Singapore Airlines instead of United is also personal pampering. 

 

 


Heard on NPR the other day during the discussion of Powerball coming to Cali, that the one of the dudes involved in it doesn't play.  That's sort of telling when any company doesn't eat their own dogfood.

 

The odds are so astronomically not in favor of the individual lottery ticket purchaser, it's reasonable that financial institutions would simply consider that individual to not meet their definition of "bad at math" but possibly translate that directly to irresponsible and impulsive.  Neither is really where a credit company defines it's ideal consumer.

 

I missed the personal pampering one, again that screams disposable income and seems silly to me.

 

Also I think with regards to income tax there's a difference between paying by credit/charge card and then writing a check at the end of the month for the balance, vs. carrying the balance which traditionally means you're spending beyond your means if you can't pay the taxes outright, and that's a legit concern.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
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Message 10 of 37