What about UTL % anyway

[Anonymous]

We know that 1-9% UTL on half of our cards is the perfect formula for increasing FICO scores. We are told we can do well to put less than %30 utl on all our cards. We are warned that we should never go over %50 utl on anything and that 85% utl is as severe as a collection.

What is the real scale and how do we know exactly what it is?

[Anonymous]

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beenthere wrote:

We know that 1-9% UTL on half of our cards is the perfect formula for increasing FICO scores. We are told we can do well to put less than %30 utl on all our cards. We are warned that we should never go over %50 utl on anything and that 85% utl is as severe as a collection.

What is the real scale and how do we know exactly what it is?

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I thought it was less then 10% UTL on less then half our cards.  So if you had 5 cards, report a balance on 1 or 2, but if you had 4 cards, report a balance on only 1.

Message Edited by krystofur on 02-24-2008 08:49 AM

[Anonymous]

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@Anonymous wrote:

We know that 1-9% UTL on half of our cards is the perfect formula for increasing FICO scores. We are told we can do well to put less than %30 utl on all our cards. We are warned that we should never go over %50 utl on anything and that 85% utl is as severe as a collection.

What is the real scale and how do we know exactly what it is?

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beenthere, that's the wonderful mystery of FICO and the scoring models. As the methodology of FICO scoring is proprietary and a total tip top secret, we do not know.

We speculate, hypothesize, and guess based on our collective experience and input from all of us. Our theories are based on trial and error, our collective history and experience, and what statistics Fair Isaac and the 3 CRA's provide us.

Makes for a fun game, it do, it do.

[Anonymous]

And for as much progress as we've made in predicting these things, it's all about to change.

[MidnightVoice]

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Moobs wrote:
And for as much progress as we've made in predicting these things, it's all about to change.

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Well, "about to" is a relative term.  I reckon FICO 08 won't be hitting our CRs for months atr the earliest!

[Anonymous]

Sylvia, it is a good game and I'm having a lot of fun with it. I was thinking last night about the kind of people who come here. Sure, there are some who come here to figure out how they can get that last 3 points for an 800 club and there are some that come here to beat some kind of rap but the ones who fascinate me most are the ones who for whatever reason went through the dregs and are now learning how to be the most financially educated and responsible people on the planet; and are succeeding at it.

I love extremes.

[Anonymous]

Moobs. Ya know what? I do beleive that that change is going to do me good!

[fused]

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beenthere wrote:

Sylvia, it is a good game and I'm having a lot of fun with it. I was thinking last night about the kind of people who come here. Sure, there are some who come here to figure out how they can get that last 3 points for an 800 club and there are some that come here to beat some kind of rap but the ones who fascinate me most are the ones who for whatever reason went through the dregs and are now learning how to be the most financially educated and responsible people on the planet; and are succeeding at it.

I love extremes.

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Sounds like Timothy, Brammy, MidnightVoice, Tuscani, etc.

[Anonymous]

and me Fused. I lived in fear of being homeless and now I'm kicking but. I'm a very grateful man and I love what I read here.

[haulingthescoreup]

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@Anonymous wrote:

Sylvia, it is a good game and I'm having a lot of fun with it. I was thinking last night about the kind of people who come here. Sure, there are some who come here to figure out how they can get that last 3 points for an 800 club and there are some that come here to beat some kind of rap but the ones who fascinate me most are the ones who for whatever reason went through the dregs and are now learning how to be the most financially educated and responsible people on the planet; and are succeeding at it.

I love extremes.

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Post of the day! What a great way to describe the people here.