@Anonymous wrote:
I heve recevied a notice on myfico account that show a 13 points decrease !!!!! I was mad like hell. After some invstegation I found out that because my balance on cap one credit card is 0 they lower my ficoscore 13 point!!! What i thought that is a good thing to have no balance on you card. Well, i think not and they want us to have some balance on the statment but not 0. I hate Cap One.
Welcome to myFICO.
Don't hate Cap 1. It's the scoring system at work.
It seems counter productive but FICO looks at all 0 balances on revolving accounts as "inactivity"and will ding you for it. The way around this is to let a small amount ($1 is enough) report on your monthly statement. Then pay the balance before the due date and you'll never owe any interest and the FICO gods will be satisfied.
