And the OP rejoins the thread. I am glad to hear from others who agree that FICO has a problem here.... Score_Watcher wrote: Again I point out that the only information credit reporting companies receive from your cards is if your minimum payment was on time (and not the amount of said payment) and your statement balances. Anything that happens between statements (interest charges, payments and purchases) is not reported. Which is exactly the point. Why can't Fair Issac simply request the info on interest charges and late fees from the CCCs and factor that into the analysis? If they did, they would know that, with no interest and no fees, the balance must have been PIF, so they could better understand the way many of us use our CCs in today's world - to capture rewards. If you don't, you are basically subsidizing those of us who do...so, "Thank You". Rewards programs are very meaningful - I have had many great family trips in business or first class, stay in suits in Starwood hotels (Westin, St. Regis, W, and so on) everywhere, and get significant cash back on Amex Blue. But to "satisfy FICO" I need to pay my balances BEFORE they are even officially posted..???? That is STUPID - period. Here are the facts.............................. I have credit lines totaling well over $200K on my CCs, plus two more without limits. Many open 15+ years, one well over 30. I pay every card, every month well before the due date, no matter what the amount owed (and it is never a strain on the checking account). I paid off my mortgage in full years ago, bought my second home with cash, and pay cash for all major purchases - art, cars, etc. (unless I can charge them and earn more miles/rebates). But, to get the appropriate FICO score I need to pay five or six days earlier that the monthly CLOSING date to "trick" the utilization factor ????? - just plain stupid. And I should open an installment loan I don't need??? Also ridiculous...... Fair Issac could fix this. Instead, under the new FICO 2008 version, my "failure" to have installment loans or a mortgage will probably actually REDUCE my score. Again - just plain STUPID. FICO scoring is simply WRONG...... They should get their heads out of the sand and FIX IT.
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