Above 760, does it really matter?

[Anonymous]

Once the scores are above 760, or 780, or whatever the number is that is supposed to give the most favorable treatment, does it matter how far above you are?

Is 835 really that much better, or worth the trouble, from 810?  Is 785 to 815 worth it??  Yes I think it's cool to have >800 scores (or I wouldn't be posting here)  but what's the work/reward on these numbers?

Is it worth carrying 3 credit cards, not using two of them, and having a large payment once a month that might need to be paid on time instead of using all three cards, having the same total but spread across 3 cards with (possibly) payment dates at different times of the month, making payment in full more likely?

[pizzadude]

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@Anonymous wrote:

Once the scores are above 760, or 780, or whatever the number is that is supposed to give the most favorable treatment, does it matter how far above you are?

Is 835 really that much better, or worth the trouble, from 810?  Is 785 to 815 worth it??  Yes I think it's cool to have >800 scores (or I wouldn't be posting here)  but what's the work/reward on these numbers?

Is it worth carrying 3 credit cards, not using two of them, and having a large payment once a month that might need to be paid on time instead of using all three cards, having the same total but spread across 3 cards with (possibly) payment dates at different times of the month, making payment in full more likely?

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Here's a recent posting on the question of scores over 760:   http://ficoforums.myfico.com/t5/General-Credit-Topics/higher-than-760-does-it-matter/m-p/1296171#M160041

If you are trying to maximize your FICO score, then the best place to start with revolving utilization is to have a single card reporting a small balance, less than 9%, with other cards reporting zero balances.

[Anonymous]

>>If you are trying to maximize your FICO score, then the best place to start with revolving utilization is to have a single card reporting a small balance, less than 9%, with other cards reporting zero balances.<<

Yes, I've seen that.  Yet TU's FICO explanation says I'm not utilizing enough of my cards.  I have 3 cards (one is a charge card (AX)  so I don't know how that figures in). Equifax loves it (815) and TransUnion hates it (786).  TU says "I'm not demonstrating active revolving credit management" while EQ says nothing's wrong.  I pay off the one card a week before it closes such that the balance reported is NOT zero but less than $100.

In any case, thanks for the link on 760++ .  I'll stop worrying :-)

[pizzadude]

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@Anonymous wrote:

>>If you are trying to maximize your FICO score, then the best place to start with revolving utilization is to have a single card reporting a small balance, less than 9%, with other cards reporting zero balances.<<

Yes, I've seen that.  Yet TU's FICO explanation says I'm not utilizing enough of my cards.  I have 3 cards (one is a charge card (AX)  so I don't know how that figures in). Equifax loves it (815) and TransUnion hates it (786).  TU says "I'm not demonstrating active revolving credit management" while EQ says nothing's wrong.  I pay off the one card a week before it closes such that the balance reported is NOT zero but less than $100.

In any case, thanks for the link on 760++ .  I'll stop worrying :-)

Yeah, I wouldn't worry about it ~ EQ and TU seem to view revolving utilization slightly differently, but you're in great shape either way.