Well, now I see firsthand how this works. I just checked my Equifax score on myFico and it seems that I've been booted from the 800 club for now. I've been swamped with work for the last month and forgot to pay two credit cards before the statements closed. ARGH! The utilization on my report shows 17% usage. I just cleared both cards. I'll be back in the 800s next month. I'll say this... once you've experienced being in the 800s, you don't want to go back to the 700s. 
My score dropped from 801 to 768.
That'll teach ya. 
The payments weren't late...your utilization just climbed, correct?
@tcbofade wrote:That'll teach ya.
The payments weren't late...your utilization just climbed, correct?
No late payments. The utilization went up because the statement cut with my high balance. Thank goodness my business card doesnt show on my personal report. lol
I don't think I would ever sit in the 800 club. There are too many lucrative sign up offers to just coast with that score.
Starting Score: ~500 (12/01/2008)
I've made it into the 800 club (on all 3 CRA's) recently and I'm already anxious that I'm going to let something report erroneously by forgetting to pay something before the statement cuts. 
Bronx;
If it makes you feel any better, I was only able to reside in the 700 club for a week due to utilization (yes, 0% is in fact where the devil lives lol). With 66% util (yeah, and it's been higher LOL), and one card that was 0 reporting a $7 balance (went from 4 to 3 reporting 0, I didn't overpay enough), I went from low 700's to about the 690 level, with perfect reports. My score seems to bounce around in that 600ish low 700ish range, new accounts or not, inq's or not, util seems to be the biggie (and how many cards report 0).
I'm with Walt_K on his comment now that I've gone back to using the plastic after dumping it long ago. I don't get lucrative offers with my scores for now, that comes and goes, but I don't have the cards so I can have a high score by not using them to their potential. I had the 840 fico once, didn't do anything for me, it was just nice to find out it was up there at the time. Of course taking the offers slashes such a score lol (the higher it is, the less it takes to knock it down a few).
