09-05-2010 05:51 PM - edited 09-05-2010 06:48 PM
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.
09-05-2010 05:58 PM
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.
09-05-2010 06:11 PM
...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.
09-05-2010 06:21 PM
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.
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
09-05-2010 06:46 PM
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.
09-05-2010 06:50 PM
I kind of liked the weird green shimmer. Sort of a radioactive effect.
But it was tough for these 55-year-old eyes to read. As you say, it's probably due to different monitor settings.
09-05-2010 06:51 PM
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.
09-05-2010 07:10 PM
The blue is great! --at least for me.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.