Reply
Super Contributor
Posts: 8,182
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
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
Posts: 8,182
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
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
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
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
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.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.