Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 431
Registered: ‎05-23-2013
0

Dinged for having 1 CC balance vs 2...

Hi, I'm new to posting here but I've been lurking around for a while. I've always read on this site that for max score, allow 1 card to report 1-9%. On the Equifax site, I lost 14 points for having a balance on one card vs having a balance on 2. Was at 780 with 2 CC balances, then when I went to 1 CC balance, it dropped to 766. I know that it may not be the case on the "real" FICO score, and that I should probably over-look it, but I just wanted to make sure that I can stick to the rule of having just one card reporting a balance, and that maybe it's just a weird formula glitch that the Equifax site uses.

 

Summary... 10TL's....

1 mortgage

3 installments

6 revolving

 

5 reporting a balance.....1 CC with a 7% uti, and 5 CC's zero'd out.

 

On a side note.....I've paid off all of my installments....just waiting on the bureaus to get the info updated. Hope it sends my score up when they report...

Myfico scores.....
EX... 805 (11-10-13)
EQ... 810 (12-02-13)
TU... 810 (12-02-13)
Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
0

Re: Dinged for having 1 CC balance vs 2...

If this is your Equifax credit score then you should disregard ~ it is a FAKO and will not follow the same scoring rules.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Frequent Contributor
Posts: 431
Registered: ‎05-23-2013
0

Re: Dinged for having 1 CC balance vs 2...

[ Edited ]

Thanks a lot. That's exactly what I was hoping someone would say. I'll disregard it and stick to the game plan that this site has set.

 

 

Oh and sorry for posting this in the wrong section. I thought I had it in the right place, but looks like I didn't, lol.

Myfico scores.....
EX... 805 (11-10-13)
EQ... 810 (12-02-13)
TU... 810 (12-02-13)
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.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

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.