Balances on all revolving accounts. Has anyone ever gained points?

[Anonymous]

This is an older subject but I don't remember if we ever came to a unanimous decision about this out come. I've tested this for several months and no point change.

Has anyone ever found that leaving a balance of $10 on "all revolving" -vs- PIF monthly made a bit of difference assuming there was activity each month.

Thanks.

Message Edited by ilovepizza on 08-12-2008 10:50 PM

[Anonymous]

I don't remember any previous conversations about this, but, I am quite certain 1-9% is better than $0 balances.  Also, when I did my FICO simulator on paying my entire revolving credit it gave me one figure, but, then, when I ran it again while leaving $1000 unpaid, it gave me a simulation quite a bit higher.

I would say it seems like a great idea.

[Anonymous]

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ilovepizza wrote:
This is an older subject but I don't remember if we ever came to a unanimous decision about this out come. I've tested this for several months and no point change.

Has anyone ever found that leaving a balance of $10 on "all revolving" -vs- PIF monthly made a bit of difference assuming there was activity each month.

Thanks.

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I don't have a link to the old thread you're referring to, but I do remember that thread, and I particularly remember Barry posting to clarify that this is not something he recommends.

Message Edited by cheddar on 08-12-2008 04:39 PM

[Anonymous]

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ssstevie wrote:

I don't remember any previous conversations about this, but, I am quite certain 1-9% is better than $0 balances.  Also, when I did my FICO simulator on paying my entire revolving credit it gave me one figure, but, then, when I ran it again while leaving $1000 unpaid, it gave me a simulation quite a bit higher.

I would say it seems like a great idea.

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The 1-9% needs clarification.  Yes, 1-9% is better than $0, as a general rule, but ideally you want 1-9% overall, 1-9% on fewer than half of all accounts, and $0 on the rest.

If you let a 1-9% balance report across the board, you will likely be dinged for "too many accounts with balances."

[smallfry]

I've been dinged though only slightly for having 1 out of 7 revolving accounts report a low balance. Rest were all 0. I seem to do best when I let 3 or 4 out of 7 cards report low balances. Might be my bucket though because I have heard some high scorers score higher when they let no accounts report balances. It must depend a whole lot on each individual file.

[Anonymous]

This is what I do not understand (haven't heard much about it)...why on earth are folks placed in certain "buckets"?  If information on the file, solely, is what should determine score, why is it different for one person, than another???

[Anonymous]

I found an old thread, his name was spoken of but no post in the thread. I wonder if it is a bucket thing. Old thread

But I wonder if there are people that seem to benefit from all revolving with balances. Fused would probably be the one to answer this. I think he had a lot of experience with this subject.

Message Edited by ilovepizza on 08-12-2008 08:33 PM

[marty56]

I lost points when I had my gas card report a $35 balance and my util was at 1% my Visa card.

The whats helping your score section tells me that high FICO achievers have 3 accounst reporting a balance so with a mortgage and car payment, that leaves me only one CC to report.

It was only a few points that I lost bute if you are at 720 or 760 and loose 1 point, it could make a difference in a mortgage or at minimum your pride.

[Anonymous]

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ilovepizza wrote:
I found an old thread, his name was spoken of but no post in the thread. I wonder if it is a bucket thing. Old thread

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I'll find the thread I was referring too.  BRB

[Anonymous]

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cheddar wrote:

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ilovepizza wrote:
I found an old thread, his name was spoken of but no post in the thread. I wonder if it is a bucket thing. Old thread

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I'll find the thread I was referring too.  BRB

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Found it.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=24951#M24951