07-14-2007 02:46 AM
07-14-2007 07:57 AM
07-14-2007 08:41 AM
07-14-2007 10:33 AM
07-14-2007 10:38 AM
07-14-2007 10:49 AM
07-14-2007 10:54 AM - edited 07-14-2007 10:57 AM
Definitely get the point about utilization affecting the credit score, but It seems that if my credit utilization is 100%, and I pay it down to zero, then that difference will be almost immediately reflected in my credit score. Vs. if something goes to collections, that takes 7 years to fall off of your credit rating. I'm just wondering if the actual act of doing a balance transfer is a hard "ding", like the something that went to collections, or something that won't even register with the credit bureaus in 2-3months (like temporary change in utilization), and then if it is a hard "ding", is it on her record or mine?
07-14-2007 10:56 AM
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.