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farblish wrote:
I had FICO scores of 765, 781, and 804 (Eq, Exp, Trans) respectively in December 07. My total revolving balance was around $900 with total credit limits of 52K. Now in February I have zero revolving balance, same total credit limits and my score went down to 742, 757, 790. This scoring system is soooo flawed. Granted my scores are still good, but explain to me how zeroing your balance can lower your score, hence lower your creditworthiness. Totally ridiculous, the difference b/w December scores and February scores would cause an increase in mortgage rates almost a tenth of point. It obvious to me that the FICO calculations are flawed and have multiple personalities. You do plan A at time X its good, you do plan A at time Y its bad. And who knows what time X or time Y is???