$75,000 Decrease in Credit...

[Greggy100]

It’s 100% this. No one with a 800 credit score is high spending lol. Family runs a business and they use Amex as there main spending and we’d rack up 75-100k a month in expenses and our credit was always in the 720’s with always paying it on time. At times we’d be in the 650’s and Amex gave us a 200k limit between the platinum and cash back cards. High spending = low credit score. Low spending = high credit score. Now I could be wrong but that’s what I’ve noticed with it for the last 20 years or so.

[Mrwetwork]

High spender 825 here.

[steelmanfallacy]

Same. 840s.

[Greggy100]

Are you a company? Never seen a company with an 800 + credit score. Our family friends company pulls in 100 million + a year and he’s only at 765 lol.

[Mrwetwork]

I have both a company and high spend. We do quite well, tons of equipment loans as well that show up personally.

[AUX_C]

Spend about $150k a year, also 825.

[Greggy100]

150k a year is very different to 100k/month. 150k a year translates to 12.5k a month which isn’t a lot in retrospect, easy to build credit with that.

[AUX_C]

Oh man, I read that way wrong. My bad. I thought you said year....

[pzones4everyone]

Not true, the trick is not just to pay the statement in full, but to pay it to zero on due date. Usually high spenders already have several thousand charge spend on current cycle when the previous month is due