11-14-2012 11:47 PM
Bringing this thread back to life since I am considering apping for a mortage in the near future....
I like what I am hearing that $0 balance revolving accounts that report minimum payments are not taken into a DTI consideration, however I would be curious to know if the Experian scoring system excludes minimum obligations on zero balance accounts for scoring purposes -- meaning does the score "drop", even by a few points, if you have a minimum payment showing...
All FICO scores ignore the minimum payment field, unless the account is past due.
Maybe there are some FAKOs out there that factor in the min. payment field, I dunno.
FICO aside, lenders will ignore the min. payment field if the account is paid.