topic Re: FICO score determination - does it use statement balance, current balance, what? in Understanding FICO® Scoring

FICO score determination - does it use statement balance, current balance, what?

Anonymous — Sat, 18 Oct 2008 19:30:34 GMT

What data is used to make the FICO regarding credit card balances - the statement balance, the balance on a particular day determined by the CC issuer or reporting agency, the balance at the moment the FICO score is requested by a particular creditor?

Thanks to anyone that has the answer.

Re: FICO score determination - does it use statement balance, current balance, what?

MidnightVoice — Sat, 18 Oct 2008 19:36:03 GMT

@Anonymous wrote:
What data is used to make the FICO regarding credit card balances - the statement balance, the balance on a particular day determined by the CC issuer or reporting agency, the balance at the moment the FICO score is requested by a particular creditor?

Thanks to anyone that has the answer.

The balance on the credit report - usually your statement balance, and this is usually updated only once a month

Re: FICO score determination - does it use statement balance, current balance, what?

Anonymous — Sat, 18 Oct 2008 19:39:14 GMT

Thank you.

Re: FICO score determination - does it use statement balance, current balance, what?

MattH — Sat, 18 Oct 2008 20:32:35 GMT

@MidnightVoice wrote:
@Anonymous wrote:
What data is used to make the FICO regarding credit card balances - the statement balance, the balance on a particular day determined by the CC issuer or reporting agency, the balance at the moment the FICO score is requested by a particular creditor?

Thanks to anyone that has the answer.
The balance on the credit report - usually your statement balance, and this is usually updated only once a month

Exactly so, and therefore some people check their balance on the website a few days before statement data and make an online payment for most of that balance, so the statement balance will be minimal.