Quote:
Originally Posted by fixit6404
We bought a new 2020 Yamaha last year at The Villages Golf car Store. We were offered 3 year 0% financing if we wanted. I figured what the hey no interest to pay so leave our money in the bank. What happened was they issued us a Yamaha credit card with just enough credit to buy the cart. Low and behold my credit score went down 10 points because I now have a credit card charged to the limit. Even though we have no other debt and money in the bank. I paid it off immediately and closed the card. Live and learn!
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I don't get it. First of all, 10 points is almost nothing. How do you know it was the new card that caused your score to go down? Credit scoring is top secret, and often not logical. Did your score go up when you paid off the card? Do you need to make monthly payments on the card? If not, why would they issue you a credit card that you cannot buy anything with?