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FICO score determination - does it use statement balance, current balance, what?

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Anonymous
Not applicable

FICO score determination - does it use statement balance, current balance, what?

What data is used to make the FICO regarding credit card balances - the statement balance, the balance on a particular day determined by the CC issuer or reporting agency, the balance at the moment the FICO score is requested by a particular creditor?

 

Thanks to anyone that has the answer.

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MidnightVoice
Super Contributor

Re: FICO score determination - does it use statement balance, current balance, what?


@Anonymous wrote:

What data is used to make the FICO regarding credit card balances - the statement balance, the balance on a particular day determined by the CC issuer or reporting agency, the balance at the moment the FICO score is requested by a particular creditor?

 

Thanks to anyone that has the answer.


The balance on the credit report - usually your statement balance, and this is usually updated only once a month

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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MidnightVoice
Super Contributor

Re: FICO score determination - does it use statement balance, current balance, what?


@Anonymous wrote:

What data is used to make the FICO regarding credit card balances - the statement balance, the balance on a particular day determined by the CC issuer or reporting agency, the balance at the moment the FICO score is requested by a particular creditor?

 

Thanks to anyone that has the answer.


The balance on the credit report - usually your statement balance, and this is usually updated only once a month

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 2 of 4
Anonymous
Not applicable

Re: FICO score determination - does it use statement balance, current balance, what?

Thank you.
Message 3 of 4
MattH
Senior Contributor

Re: FICO score determination - does it use statement balance, current balance, what?


@MidnightVoice wrote:

@Anonymous wrote:

What data is used to make the FICO regarding credit card balances - the statement balance, the balance on a particular day determined by the CC issuer or reporting agency, the balance at the moment the FICO score is requested by a particular creditor?

 

Thanks to anyone that has the answer.


The balance on the credit report - usually your statement balance, and this is usually updated only once a month


Exactly so, and therefore some people check their balance on the website a few days before statement data and make an online payment for most of that balance, so the statement balance will be minimal.

 

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
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