05-05-2007 02:10 PM
05-05-2007 04:25 PM
05-05-2007 05:24 PM
05-06-2007 08:09 AM - edited 05-06-2007 08:24 AM
fused111 wrote:On my EX report, I losing a few points because all of my revolving accounts are showing zero balances. EX says I lack experience with revolving accounts. Before I small balances like.0005% utilization, then they would too many accounts with balances. Boy is this a catch 22! Has anyone seen this?Don't worry about the few points. The scoring system compares averages. How old are your accounts. The score will also ding you for small balances on every account. I usually use store cards only to keep them actively reporting. The month I used all my store cards at once, I got the same 'too many cards with balances'. Are you using TU by chance? I've never seen that as an issue with FICO. The thing is to rotate your cards with about 10-30% max utilization at one time on any one card, never have balances on more than half your cards just to be safe Yep crazy!I'm talking and now have a store card at 70% due to a 0% for six months, That balance will stay there and I'll just take the hit until other factors balance it out. HJave another one accidently reporting more than 30% due to my kid's trip to Myrtle beach last weekend and didn't catch it in time to pay it down before reporting date. And another bank card just under 50% halfway through paying off a 0%.You have to keep a balance of whats good for your pocket and whats good for FICO. My pocket comes first. The only times I would concentrate so hard on the details is if I were in the process of making a large purchase such as a home, plannig to apply for new credit, or so borderline that I might be in danger of being ratejacked none of which are on my agenda todayBTW I'm getting dinged left, right and center due to the higher utilization on those three cards though my overall is still 20%
05-07-2007 03:53 AM
fused111 wrote:I have three cc's that I can revolve. Maybe I should keep a very small balance on the one with the highest CL which happens to be the one with the lowest APR.Don't forget you will have to use all of your cards occassionally to keep them reporting as active Just make a smal purchase and PIF.
05-07-2007 07:00 PM - edited 05-07-2007 07:00 PM