Inactive Account??!!! Cap1

[UncleB]

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@jawbrkr wrote:

I just dont understand why FICO wont just let people know all the factors that go into their scoring systems besides that fact that paying in full counts for 35% and all the other usuall stuff. They make these decisions and expect us to go along with it and not fully understand what goes on behind the scenes. There should be a detailed list of things that affect scores and by how many points, up or down, they affect your scores...and by how much over howver much time. Surely that cant be too difficult. 

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I agree, that would be nice, but unfortunately for us the 'infamous' algorithms they use are like the 'keys to the kingdom' for them.

If the formulas were freely available, we would have no reason to pay them to have access to it, kind of like if KFC made public their secret "herbs and spices" recipe we'd have no reason to go to KFC.  (dang... now I'm wanting some hot wings...) 

[jawbrkr]

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@UncleB wrote:

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@jawbrkr wrote:

I just dont understand why FICO wont just let people know all the factors that go into their scoring systems besides that fact that paying in full counts for 35% and all the other usuall stuff. They make these decisions and expect us to go along with it and not fully understand what goes on behind the scenes. There should be a detailed list of things that affect scores and by how many points, up or down, they affect your scores...and by how much over howver much time. Surely that cant be too difficult. 

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I agree, that would be nice, but unfortunately for us the 'infamous' algorithms they use are like the 'keys to the kingdom' for them.

If the formulas were freely available, we would have no reason to pay them to have access to it, kind of like if KFC made public their secret "herbs and spices" recipe we'd have no reason to go to KFC.  (dang... now I'm wanting some hot wings...) 

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Now u got me wanting KFC. There is one down the road from me too..

[NichelleN]

I've given up trying to figure out every variation of each rule. On one of my credit reports (TU), a positive factor listed is 'many accounts paid on time'. But on Experian a negative factor is 'few current accounts'. I have one account that has major baddies listed. All other accounts have perfect history. The info appears to be reported consistenly across all. On Experian and Equifax a positive factor is 'low credit usage'. On Transunion, a negative factor listed is 'high credit usage'. Huh?

I've stopped looking at it so frequently since I'm gardening. Once I'm ready to app again, I'll lower my utilization (currently at 15%) and go from there.