Latest / The Clark Howard Podcast
10.2.19 Credit score drops; Investment cons are alive and well; When to ditch an old car?
We borrow principally for a home, vehicle, credit cards, student loans. A long-held frustration is how scoring models punish you for eliminating debt. Paying off a loan (other than credit cards) could drop your score 50 points. Don't worry about it. If your score is healthy enough, the payoff score pinch does not matter. You DO NOT raise your credit score by leaving a balance open on a credit card. That's a myth you pay interest on. With cards, using very little of your credit and paying on time boosts your score.
The Securities and Exchange Commission ( the Federal agency overseeing the…
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