Horrible FICO Score Despite no lates

[q_thurst]

I am so frustrated with the FICO scoring method. I have monitored my score for the past 3 years and followed all of the suggestion from the score modeling feature . . . No lates for the past 3 years, which includes 5 accounts - 2  that are active and 3 closed and paid at zero balances... $7500 in credit card debts and loans . . .but my score is a miserable 589!! Seems like nothing I do has a positive impact on my score! What's with this . .. seems like a scam. I know people with far more debt, and delinquencies who have higher scores. Someone please explain what I need to do? It seems like the rules keep changing per each of my credit circumstances . . .first it was that my delinquencies  were too recent . . . now it's that I have too much debt and heavily use my credit. 

[pizzadude]

What are the negatives on your CR ? Is there a BK or collections or judgements or charge~offs ?

[StartingOver10]

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@q_thurst wrote:

I am so frustrated with the FICO scoring method. I have monitored my score for the past 3 years and followed all of the suggestion from the score modeling feature . . . No lates for the past 3 years, which includes 5 accounts - 2  that are active and 3 closed and paid at zero balances... $7500 in credit card debts and loans . . .but my score is a miserable 589!! Seems like nothing I do has a positive impact on my score! What's with this . .. seems like a scam. I know people with far more debt, and delinquencies who have higher scores. Someone please explain what I need to do? It seems like the rules keep changing per each of my credit circumstances . . .first it was that my delinquencies  were too recent . . . now it's that I have too much debt and heavily use my credit. 

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Sounds like you have high utilization.

If you drop your utilization down to the recommended amounts (one card reporting at less than 9% and the others at zero) you should see a nice score boost. I assume you are using a FICO scoring product and not credit karma or one of those, right?

[q_thurst]

Yes, my score comes from FICO, and I am maxed out on all my cards. No BK, Collections or Judgements. 

[vanillabean]

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@q_thurst wrote:

Yes, my score comes from FICO, and I am maxed out on all my cards. No BK, Collections or Judgements. 

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It's simple then. Once you pay your credit card debt less say $1, your score goes way up.

[Anonymous]

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@q_thurst wrote:

I am so frustrated with the FICO scoring method. I have monitored my score for the past 3 years and followed all of the suggestion from the score modeling feature . . .

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Except for the utilization part, most likely.

And 3 closed accounts? CC's?

[RobertEG]

What about 60/90/120+ lates or a charge-off?

[Anonymous]

100% utilization is keeping your score down. This is a long, slow game, and if you break a cardnial rule of the game they win.

[seattletravels]

Utilization is 30% of your score.  If you're maxed out on your credit cards, you'll never see an improvement.  Focus on that and if utilization really is your only negative, you're going to see a huge increase as you pay it off.

[llecs]

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@q_thurst wrote:

Yes, my score comes from FICO, and I am maxed out on all my cards. No BK, Collections or Judgements. 

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Which report is it? TU is more forgiving on util than the other two. EX and EQ are more picky.