Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 351
Registered: ‎04-21-2012
0

Re: How # of cards with balance can effect FICO score

Very interesting observation.  And thanks for taking the FICO score hit to prove an hypothesis.  It would be interesting to find out if the GAINS are by doing the reverse of your payment patterns.  Keep us informed.

AMEX_PlatinumBMOWorldMCCapOnePlatinumMBNA_Platinum+ScotiaMomentum
____25k________25k________20k________31k________25k___
Starting Score: 732 October 2007; Current Score: 800 EQ; TU 826, November 2016; Goal Score: 810 by end of 2016
Oldest Reporting Account: 14.8 years; EQ AAoA: 6.7 years; typical credit utilization 1.6% typical single card utilization 9.8%
Highlighted
Valued Contributor
Posts: 2,110
Registered: ‎12-29-2011
0

Re: How # of cards with balance can effect FICO score

[ Edited ]

Nice chart. I've had a different experience with my FICO scores however. I recently paid down a balance on my credit card. But as soon as my credit card balance increased $52 dollars more than it was last statement $362 balance to $414 balance, my Fico score dropped 11 pts! Dropped from 690 to 679. I don't really understand what I did wrong and why my score was affected so much. I don't have any negative marks on my credit.

The truth is out there...
FICO scores: 764 (EQ) 732 (EX) 757 (TU) 9/14 | Goal score: 750+ (all 3)
Tradelines: Capital One QS NPSL (5.0k) | Discover IT (6.0k) | Walmart Mastercard (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)






Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

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 internal myFICO analysis of 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. These ranges were not provided by any card issuer.

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.