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Super Contributor
MidnightVoice
Posts: 8,161
Registered: ‎03-25-2007
0

Re: 3 point reduction



inquring_minds wrote:
Thanks Hauling, I need a math refresher - if feel totally stupid! :smileyindifferent:


Most of us dealing with FICO scoring frequently feel totally stupid  :smileyvery-happy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Regular Contributor
inquring_minds
Posts: 171
Registered: ‎08-11-2007
0

Re: 3 point reduction

ok, so what should I do now?
 
I have low utilization and my statement cuts on the 30th and I need a boost in scores.  I thought Fico model looked at individual utilization for optimal scores.
 
 
Great Credit is Sexy :smileywink:

May 2013 - TU 699 / EX 718 / EQ 737


Super Contributor
MidnightVoice
Posts: 8,161
Registered: ‎03-25-2007
0

Re: 3 point reduction



inquring_minds wrote:
ok, so what should I do now?
 
I have low utilization and my statement cuts on the 30th and I need a boost in scores.  I thought Fico model looked at individual utilization for optimal scores.
 
 


As far as we can tell, it looks at both.  You could try getting both down to less than 5% and then tell us what happens!
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: 3 point reduction

There's not a day goes by that I don't stare at the laptop and say to myself, "Well, duh!" :smileyvery-happy:

Like MV said, you get rated on individual util and on total util. Try having one card PIF'd and the other reporting incredibly low. I got 10-15 points on all three scores recently by having a $7 balance post on one card, $0 on the other 4, $52K+ total CL. I think it was like 1/100 of 1% util. TU especially liked it!

This is now my new happy solution to not worrying about my CC's. I only use one per month, pay it down to 1% before the statement cuts, and there you are. Peace of mind through simplicity!
* 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
inquring_minds
Posts: 171
Registered: ‎08-11-2007
0

Re: 3 point reduction

That's great advice, I will let you know the outcome :smileyhappy:
 
Happy Holiday's MyFico Friends!!


haulingthescoreup wrote:
There's not a day goes by that I don't stare at the laptop and say to myself, "Well, duh!" :smileyvery-happy:

Like MV said, you get rated on individual util and on total util. Try having one card PIF'd and the other reporting incredibly low. I got 10-15 points on all three scores recently by having a $7 balance post on one card, $0 on the other 4, $52K+ total CL. I think it was like 1/100 of 1% util. TU especially liked it!

This is now my new happy solution to not worrying about my CC's. I only use one per month, pay it down to 1% before the statement cuts, and there you are. Peace of mind through simplicity!


Great Credit is Sexy :smileywink:

May 2013 - TU 699 / EX 718 / EQ 737


Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: 3 point reduction

And to you!

We need a wreath smiley or something for this time of year.
* 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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