How to dispute invalid reasons for lower FICO score

[haulingthescoreup]

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@Anonymous wrote:

3. If balances are over 1% the score system will complain. You are still hit for points even with a 5% balance on over all UTL in revolving credit. Installments go by the rule of 50% I have heard but not tested.

Hope this helps.

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Really? Did you mean 1% or 10%? I knew that I had read that under 5% was even better than under 10%; maybe it was one of your posts. I'm pretty happily tucked in at 3%, but that's because of that one crazy high CL.

Interesting challenge for my one store card with a $500 limit. It's J.Crew, and I promise you that they don't have many items for less than $25! Obviously I'll have to do some brisk pre-paying on the two times a year that I plan to use it. And if I have to get it to report less than $5, well...

[Anonymous]

The sweet spot which is around 1% for most folks. Some higher some lower. 3% is great. It's probably higher than the sweet spot but not much. You can carry a balance on 1-4 cards most of the time. Just 1 card is fine to hit the sweet spot. Or 4. Just not more than 4 for most folks. 5 balances showing for total rev and installs can hurt scores for some.

[haulingthescoreup]

Well, once my last few adventures post and hit all the reports, I'll have to try the 1% thing for a month or two, and see what happens. I've only got 5 cards, two of which I alternate, so I'm good there. No way do I have the attention span to juggle anything more than that!

Message Edited by haulingthescoreup on 10-06-2007 09:32 PM

[Anonymous]

0% - 4% is almost the same score mostly. It's tricky to hit the sweet spot. It could be as small as $50 in Utl or even less. lol Good luck.

[RobertEG]

I am not sure who your complaint is with, the CRA or Fair Isaac.

FICO scores may be physically generated at the CRA, but the scoring formula is produced by Fair Isaac, and licensed to the CRA.

Each CRA has their own specific version of the FICO algoithm it licenses, but in the end, the algorithm used is generated by Fair Isaac.

Disputing how FICO scoring is done centers on making sure that the data used by the CRA is accurate.  The specific scoring algorithms are protected trade secrets, and are not regulated by the government.  You can dispute the data used to generrate your credit score, but not how the scoring is done.

[llecs]

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@RobertEG wrote:

I am not sure who your complaint is with, the CRA or Fair Isaac.

FICO scores may be physically generated at the CRA, but the scoring formula is produced by Fair Isaac, and licensed to the CRA.

Each CRA has their own specific version of the FICO algoithm it licenses, but in the end, the algorithm used is generated by Fair Isaac.

Disputing how FICO scoring is done centers on making sure that the data used by the CRA is accurate.  The specific scoring algorithms are protected trade secrets, and are not regulated by the government.  You can dispute the data used to generrate your credit score, but not how the scoring is done.

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Hi Robert, I had split a post and inadvertantly bumped this thread. I suspect you are responding to someone from nearly 3 yrs ago.