Dumb FICO :-(

[Anonymous]

I pay my Amex off in full, every month.

But they sample once every two months, and send it to Equifax.

So I get alerts that my balance has increased.

But I don't every carry a balance month to month.

But I get dinged for it! 

FICO = worthless.

Why do we play these games? Lets just walk from the banks, let's walk from those which are ruining our country!

The gov't and the bankers are devaluing our savings to save the thieves! The banks are the thieves. 

[Anonymous]

It's not FICO but the way AMEX reports.

[Mark_in_Pasadena]

AMEX is always a month behind on their reporting for me as well.  Also, if you're playing the FICO game because you intend to apply for a major line of credit such as a mortgage, then be sure to pay in full online, 1 day before your statement posts.  After 2 months of this, AMEX will finally report correctly a $0 balance to the CRAs.

Just learn to play the FICO scoring game, or else don't borrow & pay cash for everything for the rest of your life.

[Anonymous]

I'm just trying to get my score up to possibly buy a place once all of the prices drop another 40% or greater (if I still have a job and am not in a soup line myself). There is still trillions of losses in the pipeline with home loans, so it's way too early to worry seriously about that. Stupid gov't is interfering as well, but the people they help most likely default anyways (gov't is dumb).

I pay my amex balance in full the same day I get the statement in email. 

Cash is good though. We rob ourselves by paying with credit cards (the percentage the merchant pays in CC fees ends up in the prices). Then we pat our selves on the back for silly rewards. Our society is turning into one where the banks get 2.9% of every transaction we make. Our gov't makes million dollar purchases on credit cards, which is like an instant $10,000 - $20,000 profit for the banks.

[Anonymous]

It's the way AMEX and Discover reports. Garbage in, Garbage out. If the CC's and CRA's don't report well then the FICO score is worthless.

But if you look at the Creduit Suisse loan reset chart we're about to witness millions of "home owners" that are going to loose their speculative home purchases due to loan resets. It's not just subprime, it's prime. Them high FICOs didn't do those lenders any good!

[Creditaddict]

Wow bubbleboy, your on a tirade today with credit cards...

if you don't want your credit cards to report a balance, pay the balance BEFORE the statement cuts, some creditors are the 1st of the month, so just figure out the report date and pay before that date 

[haulingthescoreup]

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bubbleboy wrote:

...Why do we play these games? Lets just walk from the banks, let's walk from those which are ruining our country

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Well, really, you know, you always have the right to do this.

If it makes one miserable, I see no point in continuing to fight what one considers unwinnable wars.

[smallfry]

Bubbleboy I think you made a wrong turn and ended up at a credit card message board. The game does seem a little counterintuitive at times but you have been given good advice as per the AmEx card. Good luck. 

[Anonymous]

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@Mark_in_Pasadena wrote:

AMEX is always a month behind on their reporting for me as well.  Also, if you're playing the FICO game because you intend to apply for a major line of credit such as a mortgage, then be sure to pay in full online, 1 day before your statement posts.  After 2 months of this, AMEX will finally report correctly a $0 balance to the CRAs.

Just learn to play the FICO scoring game, or else don't borrow & pay cash for everything for the rest of your life.

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Good info.  I had been having the same issue as bubbleboy.  This stuff is a pain in the butt to figure out but I'll get it figured out eventually.