Understanding FICO® Scoring

[DREAMS847]

Hi,

I am new to this forum and understanding FICO scoring and esp. scoring revolving credit that is paid off monthly. Three quick questions.

1. When FICO looks at (CREDIT CARD) outstanding balance vs. available credit, does it include past outstanding balances(and if so how far back) or just the balance reflected at scoring request date?

2. If less than 10pct. oustanding vs. available credit is a good goal, does it help to pay the credit card down electronically mid billing cycle so that when the statement comes out it shows less than 10pct?

3. Does having larger available credit (ie. $20,000 vs $10,000) hurt your FICO score? Seems to me the larger the better to help with the less than 10pct rule.

Thank you very much in advance to the experts out there for sharing any wisdom.

Message Edited by DREAMS847 on 08-03-2007 05:58 PM

[Tuscani]

I replied to your PM.

[smallfry]

---

DREAMS847 wrote:

Hi,

I am new to this forum and understanding FICO scoring and esp. scoring revolving credit that is paid off monthly. Three quick questions.

1. When FICO looks at (CREDIT CARD) outstanding balance vs. available credit, does it include past outstanding balances(and if so how far back) or just the balance reflected at scoring request date?

2. If less than 10pct. oustanding vs. available credit is a good goal, does it help to pay the credit card down electronically mid billing cycle so that when the statement comes out it shows less than 10pct?

3. Does having larger available credit (ie. $20,000 vs $10,000) hurt your FICO score? Seems to me the larger the better to help with the less than 10pct rule.

Thank you very much in advance for any wisdom from the experts here share.

---

I know some people who pay down before the cycle and due dates for utilization purposes. I say get as much available credit as you can if you won't use it.