New myFICO Report Format: Util Factor Q (Barry?)

[Barry]

hdporter, et al --

There has been no recent change in the way the FICO scoring forumla considers revolving utilization.  It still considers both the aggregate percentage and the individual account percentages as it always has.

So, in your example, your score should still be better off with with 30% for overall and individual utilization than with one account at 90% and the other two at 0%.

Hope this helps.

-Barry

[hdporter]

Thanks very much for the reply, Barry.

You may wish to pass on the fact that the text I cited from my myFICO report is misleading -- although I don't think it necessarily inappropriate to discourage moving debt for the sake of scoring, it's inaccurate to suggest that doing so will have no scoring impact.

- Harry

[Barry]

Harry,

Your post was directed to our developers and the correct revolving utilization text will be implemented shortly as a high priority. Thanks for bringing it up.

Sorry for the confusion.  I'll let the community know when this fix takes place and if you contact me via PM I'll provide you with a complimentary updated report and score.

Barry

Message Edited by Barry on 05-05-2007 01:37 PM

[Tuscani]

Thanks Barry!