Timothy you said that
Having all revolving accounts at REPORT zero will lower your score.
Hard to swallow
A Balance increase is one of the "triggers" for an Alert- it then spits out the score-
Are you talking about score watch……..K this happens all of the time…
Let me pick this apart. I need to get an understanding here of what you are saying.….
Hypothetically a person with a score of 850 with multiple types of credit all at a zero balance, according to you their score will decrease.
The score is as it stands, without activity on the account that person should continue to maintain their score, even with non use.
If I try to apply what you are saying in essence is buy a pack of bubble gum on your cc and pay it off you will maintain your score because there is activity
Don’t use it at all and you will be dinged?
I believe what you are pointing to is that little piece of information circulating in the air……about actively using your credit cards in order to receive or maintain a better score. My math teacher told me that he had to use his credit card because someone in a financial institution told him that he needed to use it. My professor was on the money sharp about his money.. I had some doubt about that piece of information but of course I cannot verify this but it’s a hunch that it wasn’t absolutely correct…….
Now first of all look who is saying it………..of course they want you to use their cards and money…..Most of the time I take that type of information with a grain of salt.
So are you saying that you cannot have perfect excellent credit without actively using your accounts? This is hard to swallow and if this is true then people who work hard to not be enslaved to debt will eventually be punished for not staying in the system or actively making purchases to show this behavior.
When this or if this holds true at some point I will have to look at FICO in a different light really and it will definitely have me to revamp my thinking. I would have to say that….I will make it my goal to have zero balance period on my accounts. I don’t care if I use them or not If Fico punishes me for non use then so be it. I will use it because I feel like it not because I am salivating over the few extra points. If I believed this I would be tempted to use 1000 or something plan to pay it off then get hit over the head die and leave my daughter with paying that 1000 dollars…….so its relative……Maybe at this point I’m missing the big picture… We are all looking at the great credit score…but as well we should we all be looking at not only improving our credit scores but focus on to improving a bigger better portfolio.( I understand this is a credit forum) But we should think of every financial act as an investment into the future with present benefits. At the point of when I see my credit behaviours as excellent which to me means that every single account paid in full period… I call that excellent credit. If Fico does not see it that way then I will definitely revamp my way of thinking of fico. See the American dream is to be successful….and to have good credit be able to get what you want when you want have a nice big fat portfolio and when you die leave your money to your family or charity or both…that is what my dream is….
Everyone should aspire to be debt free....yes you will always have bills electric gas ..etc..but you all know what I'm talking about.....
I will not let anyone make me feel inadequate or in greed of getting that perfect score for using credit when I don’t feel the need….
You know what Timothy I don’t agree but while talking this through its possible....
I will tell you that your post have made me realize that in essence my eyes may be on the wrong prize……….
