@haulingthescoreup wrote:
@Anonymous wrote:
We just have to realize there will be changes coming. I am sure that many people will "over dramatize" them, BUT, my theory is if you pay your bills, are not late, don't exceed your credit limits nor keep looking for credit you have no practical use for, you will be fine.
But let's extend this not-reporting-$0-balance-cards idea: what if all the banks start doing this? and the credit unions? Many people have an occasional balance reporting on a card, which they then pay off. The less-neurotic members here let all their cards report and then PIF, not worrying about what happens to their scores, as they aren't shopping for credit.
If $0 balance cards aren't reported, we'll always be getting dinged for "too many accounts with balances."
The point is, the FICO scoring system takes into account current credit reporting practices. If these practices are changed, the FICO fomulas will be using insufficient and/or incorrect data to assign risk scores, AKA our FICO's.
I've had lots of CSR's review soft inq reports while on the phone with me, and I like having them say, "Wow, you don't have any debt at all! You really know how to handle your credit cards." By golly, I want that string of $0's to continue to report.
How 'bout they find a way to cut costs that doesn't negatively impact good consumers...
And give up the 3 martini lunch? Nevah. LOL. Hey why was I censored?
@haulingthescoreup wrote:
@Anonymous wrote:
We just have to realize there will be changes coming. I am sure that many people will "over dramatize" them, BUT, my theory is if you pay your bills, are not late, don't exceed your credit limits nor keep looking for credit you have no practical use for, you will be fine.
But let's extend this not-reporting-$0-balance-cards idea: what if all the banks start doing this? and the credit unions? Many people have an occasional balance reporting on a card, which they then pay off. The less-neurotic members here let all their cards report and then PIF, not worrying about what happens to their scores, as they aren't shopping for credit.
If $0 balance cards aren't reported, we'll always be getting dinged for "too many accounts with balances."
The point is, the FICO scoring system takes into account current credit reporting practices. If these practices are changed, the FICO fomulas will be using insufficient and/or incorrect data to assign risk scores, AKA our FICO's.
I've had lots of CSR's review soft inq reports while on the phone with me, and I like having them say, "Wow, you don't have any debt at all! You really know how to handle your credit cards." By golly, I want that string of $0's to continue to report.
How 'bout they find a way to cut costs that doesn't negatively impact good consumers...
I think your being to literal , they will report when the there a payment to an account , I mean if the choose at all to report , must givr the payment, I've on my reports when I had a 0 balance many months ,but the last update was current, this what they stoppng, this shouldn't cause an anccount to appear inactive, the last reported payment, which without use there is no payment to report
