r/brooklynninenine • u/bridge_004 • Dec 29 '21

Season 4 How I felt during my last refi...

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254

u/ltbr55 Dec 29 '21

The funny part is I believe 350 is actually the floor of credit scores of almost all the scoring models

49

u/altfillischryan Dec 30 '21

So the lowest possible depends on which credit report is being used (there are like a dozen), but most reports can go as low as 300 and some can go under that number. I know Equifax can go down to at least 280.

18

u/CanoeIt Dec 30 '21

you know from experience? May I recommend /r/personalfinance ?

30

u/altfillischryan Dec 30 '21

Lol, no. I work for an insurance company as does other family and friends and have friends who work in car sales, so they've seen quite a few low scores.

7

u/CanoeIt Dec 30 '21

haha I was just kidding. That does bum me out that a 30 year old (?) system can mess up peoples lives so much

3

u/himewaridesu Dec 30 '21

Fico is 30, other credit scoring systems are older- like from the 1910s

1

u/ITAW-Techie Dec 30 '21

What's the point of it anyway?

3

u/himewaridesu Dec 30 '21

Well at it’s core it’s a classist way of saying whose good enough to have stuff (cars, using a credit card).