No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hi eemjlh....You've pointed out an example of where myFICO needs to do a better job of explaining certain factors affecting the score -- and I'm letting the appropriate people at myFICO know.
@eemjlh wrote:
Hi, I ordered the FICO Credit Complete and my question is regarding the section under "What's hurting your FICO score". My report shows "There is no recent activity on your creditcard. Your credit report shows no open credit cards or it does not report recent information." I don't understand this since I use my credit card on a montly basis and I pay on it twice a month. The TU report does show my recent CC balance - so why would I receive this message as an item that is hurting my FICO score?
@Anonymous wrote:Agreed, it does not seem fair or correct that FICO's scoring formula would suggest that a borrower is riskier simply because it does not have a big boy card.
@Edit: ByrdMan wrote:
Fair, I'll tell you what's not fair...asthma, okay. I'm a good runner, but I don't have the wind though (I love that US Cellular commercial).
In all seriousness though, there comes a time when our fiscal responsibility meets our FICO responsibility head on and we have to decide what's best. If not apping, probably opt for the better rates and terms.
You are right though. It's not fair.
Boscoe wrote:So, in effect, FICO is penalizing us for shopping for the best overall cc deal.
This surprises me as well. Although we shouldn't be surprised that FICO penalizes us for shopping for the best deal.
Boscoe wrote:So, in effect, FICO is penalizing us for shopping for the best overall cc deal.