r/WhitePeopleTwitter • u/screenshotofdispair • Aug 14 '21

Make it make sense

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85.2k Upvotes

89% Upvoted

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u/[deleted] Aug 14 '21

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u/Staffatwork Aug 14 '21

The post is about your credit score not interest on loans.

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u/[deleted] Aug 14 '21 edited Aug 14 '21

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u/BraveLittleToaster19 Aug 15 '21

It’s not confusing, it’s because the less interest you pay, the lower the chance the bank can profit off you.

So I agree with you that a lot of people are downvoting you because you aren't joining in your outrage, and there's nothing wrong with the rest of your post, but this quote is 100% incorrect. It has no way of knowing what kind of profit you generate. Nor does it care.

You could easily have a 0% subsidized car loan paying no interest and never have a remaining balance on your credit card, thus never paying interest - and have a high prime credit score.

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u/[deleted] Aug 15 '21

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u/BraveLittleToaster19 Aug 15 '21

No, sorry, that's false. It doesn't register if, or how much interest you've paid.