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Timothy wrote:
My APR on my Mortgage is about 6% - are you telling everyone in this forum that 1. You do not have investments that have a higher return than 6% to take advantage of? and 2. Are in such a high income bracket that you can not take advantage of the interest deduction?
Message Edited by Timothy on 11-12-2007 05:24 PM
Timothy wrote:
You have some valid points but also some inconsistent ones as well-
No mention of $'s here and that is fine- BUT
your 2 "NO LIMIT" Amex cards are not calculated into you Utilization of cards- and if you happen to be to be pulling reports for that one CRA that has the old FICO formula then it uses the "High LiMIT"
Congrats on you perfect payment history-
My APR on my Mortgage is about 6% - are you telling everyone in this forum that 1. You do not have investments that have a higher return than 6% to take advantage of? and 2. Are in such a high income bracket that you can not take advantage of the interest deduction?
Welcome to MyFico - you are right in the fact that it is a game, fortunately we have a good chunk of the rule book here and invite you to spend a little time reading to find out the real reasons FICO is not properly depicting your credit "RISK"
Message Edited by Timothy on 11-12-2007 05:24 PM
just_curious wrote:So, a simple question - shouldn't years of payments in full every month trump the "concern" about my card usage that suppresses the score? In other words, isn't FICO wrong?
Edit:
@just_curious wrote:
I prefer not to provide specific $ numbers, but suffice it to say that my income and net worth are more than sufficient to assure that I can meet any possible credit card utilization. To clarify, I pay my cards in full every month. I am using credit to get benefits, not to finance a life style. I have a perfect credit record and will continue to do so, but FICO can't seem to understand this form of credit card use, so it ranks me lower than seems logical with a perfect track record and my resources. That's my issue.
So, a simple question - shouldn't years of payments in full every month trump the "concern" about my card usage that suppresses the score? In other words, isn't FICO wrong?
haulingthescoreup wrote:
There's nothing dumb about FICO scoring. You just have to give it the proper data to work with.
haulingthescoreup wrote:
There's nothing dumb about FICO scoring. You just have to give it the proper data to work with.
just_curious wrote:What I see is a need to become expert at gaming the system -
just_curious wrote:Look, the cards are PIF every month - FICO should be able to distinguish between carried over balances and cards which are PIF since those data are easily available (for example, I never have paid any interest on any card, ever).