topic Re: score 800 in Understanding FICO® Scoring

score 800

Anonymous — Thu, 24 Apr 2008 13:24:02 GMT

I have two scores that are right at 800 but will not get there, all eight cc are 0 balance even amex .I recently paid off the only auto loan. no coll.no derog.what is the problem please help.

Re: score 800

Anonymous — Thu, 24 Apr 2008 13:34:52 GMT

FICO does not like to see ALL balances at $0. If you have 8 cards, keep 2 or 3 of them at balances of < 3%.

IMO, once you get to the 800 neighborhood, history plays a bigger role. I can't prove this, it's just my opinion. All you can do now is let them age, and you'll gradually creep a little higher.

Re: score 800

Anonymous — Thu, 24 Apr 2008 13:55:06 GMT

As cobra19 mentioned, try showing balances on 2, or perhaps 3 of your credit cards. In order to avoid any finance charges, you can pay these balances in full after your statement closes. Do this every month. Also try rotating the cards carrying balances--use some one month, use different ones the next month, and so on.

On a recent Equifax report, it's noted that one positive factor helping my FICO score is--

You've shown recent use of credit cards.

Your FICO score evaluates your mix of credit cards, installment loans and mortgages. People who demonstrate responsible use of different types of credit are generally less risky to lenders. You helped your FICO score by showing recent use of a credit card.

Message Edited by psychic on 04-24-2008 06:55 AM

Re: score 800

MidnightVoice — Thu, 24 Apr 2008 14:21:58 GMT

psychic wrote:

You've shown recent use of credit cards.

As I posted elswhere, it appears you can have a zero balance and FICO knows you have used the cards (if you have)

Re: score 800

Anonymous — Thu, 24 Apr 2008 14:32:26 GMT

tell me more midnight

Re: score 800

Anonymous — Thu, 24 Apr 2008 14:44:31 GMT

MidnightVoice wrote:

psychic wrote:

You've shown recent use of credit cards.

As I posted elswhere, it appears you can have a zero balance and FICO knows you have used the cards (if you have)

That's a very good point! I remember your very recent post. I once had a problem with TU, though. On one occasion, they noted that I didn't show recent use of revolving credit. At that time, I was using my credit cards regularly, but making the mistake of paying all of my revolving balances in full before the closing dates. I learned that it was important to have a balance showing monthly on at least one revolving account

Re: score 800

Anonymous — Thu, 24 Apr 2008 14:51:50 GMT

monitorking3 wrote:

tell me more midnight

You can find MidnightVoice's original thread regarding this issue at--

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=19588

Re: score 800

MidnightVoice — Thu, 24 Apr 2008 14:54:59 GMT

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=19588#M19588

Not a very populat thread

Re: score 800

Anonymous — Thu, 24 Apr 2008 14:56:52 GMT

MidnightVoice wrote:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=19588#M19588

Not a very populat thread

I enjoyed reading it.

Re: score 800

Anonymous — Thu, 24 Apr 2008 15:02:44 GMT

Date of last payment amount needs to be updated each month with an amount greater than zero,, and should be more than minimum payment or PIF if less than min payment rewards me the most.

Message Edited by ilovepizza on 04-24-2008 08:02 AM

Re: score 800

MidnightVoice — Thu, 24 Apr 2008 15:16:23 GMT

psychic wrote:

MidnightVoice wrote:
http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=19588#M19588

Not a very populat thread

I enjoyed reading it.

Thankee!