Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

MattH wrote:

I did read somewhere the suggestion for those convenience users obsessed with getting their FICO score as high as possible, instead of only paying CCs when the monthly statement arrives, right after making any large purchase send them an electronic payment so the balance doesn't accumulate during the month. I suppose I could do this, but it seems like a lot of trouble just for a few points.

And that's a great summary of playing the util game. If your scores are already way on up there, unless there is some specific reason to maximize your points, there's no reason to do this.

After all the debates I've read about this one part of scoring, I think that the sensible thing would be for the CRA's to report the outstanding balance as of midnight at the end of the due date, as opposed to the statement date. For one thing, those of us who know about paying early can game the system something fierce. But if FICO and the credit industry want to think that the balance on the statement date is somehow predictive of consumer risk, that's what we have to work with.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007