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Regular Contributor
Duke-of-Earl
Posts: 211
Registered: ‎06-20-2009
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Re: Are Zero Balances Interpreted as Non-Use?

[ Edited ]

 


marty56 wrote:
It has been stated that FICO will ding you if you allow a balance to report on a card that hasn't reported a balance in several months.
Thanks.  IInteresting, something new to worry about!  But I don't mind a temporary ding too much at this point.
IMHO the biggest treat with an account that isn;t being used is the CCC might close it and if you revolve balances, this could have a large impact on your FICO score.
This I'm not too concerned about.  The CCCs certainly know I'm using the cards actively, typically 15 transactions or so monthly on each  If they want to close the account just because I'm paying early, maybe I don't need that card.  Unless they're are all equally silly!  I know, could happen.  Anyway, I obviously don't carry a balance.

 


Starting Score: EQ 804 - (April 2009)
Upgraded thanks to FICO Forums: EQ 813 / EX 842 / TU 823 - (FICO scores from mortgage lenders, June 2010)
Recent Scores: EQ 807 / TU 799 - (March 2012)
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Regular Contributor
Duke-of-Earl
Posts: 211
Registered: ‎06-20-2009
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Re: Are Zero Balances Interpreted as Non-Use?

 


Creditaddict wrote:

Really you only need to worry about what is reporting to your credit reports for balances when you are getting ready to apply for mortgage or car, but seeing as you did that already and your scores are in the 800's I would not drive your self crazy trying to do this each month unless you just charge so much you would be at your limit each month.


 

I wouldn't say what I've been doing is driving me crazy, but if I switched to rotating a non-zero reported balance among cards, that would be a lot crazier.  Then you have to keep in mind which one is supposed to show the balance this month, and which one did the month before so you can be sure to pay it before the due date ...

 

Ya know, I never thought of it before, but the pay-before-statement approach does mean the CL is almost meaningless for the scoring, huh?  I don't charge anything like that much, but have always been pretty careful to stay below 5% or so of the limit.  But I guess that doesn't matter unless some eagle-eye looks at the "actual payment" reported.

 


Starting Score: EQ 804 - (April 2009)
Upgraded thanks to FICO Forums: EQ 813 / EX 842 / TU 823 - (FICO scores from mortgage lenders, June 2010)
Recent Scores: EQ 807 / TU 799 - (March 2012)
Goal: Survive Another Day
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Are Zero Balances Interpreted as Non-Use?

 


Duke-of-Earl wrote:

 

...Ya know, I never thought of it before, but the pay-before-statement approach does mean the CL is almost meaningless for the scoring, huh?  I don't charge anything like that much, but have always been pretty careful to stay below 5% or so of the limit.  But I guess that doesn't matter unless some eagle-eye looks at the "actual payment" reported.


This is how people with two cards and a total $1000 CL can score in the 700's. It takes some scampering around, but it's definitely doable.

 

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
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Re: Are Zero Balances Interpreted as Non-Use?

Hi Duke,

 

A bit off topic. It might be my eyes and/or my monitor but that green you are using for some of the text is VERY hard for me to read. Is anyone else having this problem or is it just me?

 

If it's just me I'll slink away quietly.  :smileysad:

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work


Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
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Re: Are Zero Balances Interpreted as Non-Use?

The lime green is impossible to read.

Regular Contributor
Duke-of-Earl
Posts: 211
Registered: ‎06-20-2009
0

Re: Are Zero Balances Interpreted as Non-Use?

Hi marine,

 

Sorry about that, I'll try some other color next time.  Seemed to be a good approach for replying to multiple quotes that I saw some other folks using, so I thought I'd try it, wanted some other color just to be different.  Looked OK on my display, but I know these things can vary.


Starting Score: EQ 804 - (April 2009)
Upgraded thanks to FICO Forums: EQ 813 / EX 842 / TU 823 - (FICO scores from mortgage lenders, June 2010)
Recent Scores: EQ 807 / TU 799 - (March 2012)
Goal: Survive Another Day
Take the FICO Fitness Challenge
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Are Zero Balances Interpreted as Non-Use?

I kind of liked the weird green shimmer. Sort of a radioactive effect. :smileyvery-happy:

 

But it was tough for these 55-year-old eyes to read. As you say, it's probably due to different monitor settings.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
Duke-of-Earl
Posts: 211
Registered: ‎06-20-2009
0

Re: Are Zero Balances Interpreted as Non-Use?

Apologies to those who couldn't read my green responses.  I've edited those posts to change the color.  Please let me know if it's still fubar.

 


Starting Score: EQ 804 - (April 2009)
Upgraded thanks to FICO Forums: EQ 813 / EX 842 / TU 823 - (FICO scores from mortgage lenders, June 2010)
Recent Scores: EQ 807 / TU 799 - (March 2012)
Goal: Survive Another Day
Take the FICO Fitness Challenge
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Are Zero Balances Interpreted as Non-Use?

The blue is great! --at least for me.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
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Re: Are Zero Balances Interpreted as Non-Use?

 


haulingthescoreup wrote:

The blue is great! --at least for me.


 

+1

 


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