topic Re: TU madness in Understanding FICO® Scoring

TU madness

Anonymous — Fri, 05 Sep 2008 18:45:50 GMT

Citations from the same TU report: What's hurting your FICO score:
"There is no recent balance on your revolving accounts."

What's helping your FICO score:
"You,ve been responsibly limiting the number of your credit accounts that carry a balance."

Doesn't make much sense, right?
I assume those messages are differently/independently triggered.

Re: TU madness

Lel — Fri, 05 Sep 2008 20:48:52 GMT

Yeah, sometimes those reason codes can be contradictory or irrelevant. My theory is that the CRAs have a trained hamster that taps out these notes in exchange for food.

Re: TU madness

smallfry — Fri, 05 Sep 2008 21:56:18 GMT

I see that a lot. How about we are taking your score down because you didn't use your credit cards at all. OK. I let one card report as a test rather than 2 or 3 FICO saw none even though I let well over 1000 dollars report to my Navy CC. Makes you wonder if these scores just might be RNG. Clearly a card reported. And clearly when I let 3 report the next month back up went the scores to the same level we started at a month prior to that. Let 6 cards out of 7 report a one dollar balance each and watch your scores plummet. Let 1 card report 1-2K and watch your scores remain the same. So you tell me who is riskier someone who owes 7 dollars or 2000 dollars? Pay your house off watch your scores go down. Pay your car off watch your scores go down. Maybe they just want all the good zombies to stay in debt.

Re: TU madness

Anonymous — Sat, 06 Sep 2008 03:59:42 GMT

smallfry wrote: So you tell me who is riskier someone who owes 7 dollars or 2000 dollars? Pay your house off watch your scores go down. Pay your car off watch your scores go down. Maybe they just want all the good zombies to stay in debt.

You are so right. It doesn't make a lot of sense (for us). But think about it this way: Who invented the scoring system? Yes, CCCs, and they will reward whatever is good for their business.

Message Edited by Physicist on 09-05-2008 10:59 PM

Re: TU madness

Anonymous — Sun, 07 Sep 2008 17:39:18 GMT

Mmmmmm........I always kinda thought the scoring system was invented by a select group of PhD's., all of whom are graduates of the Alfred E. Neuman School of Underwater Basketweaving.