score 800

[Anonymous]

I have two scores that are right at 800 but will not get there, all eight cc are 0 balance even amex .I recently paid off  the only auto loan. no coll.no derog.what is the problem please help.

[Anonymous]

FICO does not like to see ALL balances at $0. If you have 8 cards, keep 2 or 3 of them at balances of   < 3%.

IMO, once you get to the 800 neighborhood, history plays a bigger role. I can't prove this, it's just my opinion. All you can do now is let them age, and you'll gradually creep a little higher.

[Anonymous]

As cobra19 mentioned, try showing balances on 2, or perhaps 3 of your credit cards.  In order to avoid any finance charges, you can pay these balances in full after your statement closes.  Do this every month.  Also try rotating the cards carrying balances--use some one month, use different ones the next month, and so on.   

On a recent Equifax report, it's noted that one positive factor helping my FICO score is--

You've shown recent use of credit cards.

Your FICO score evaluates your mix of credit cards, installment loans and mortgages. People who demonstrate responsible use of different types of credit are generally less risky to lenders. You helped your FICO score by showing recent use of a credit card.

Message Edited by psychic on 04-24-2008 06:55 AM

[MidnightVoice]

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psychic wrote:

You've shown recent use of credit cards.

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As I posted elswhere, it appears you can have a zero balance and FICO knows you have used the cards (if you have) 

[Anonymous]

tell me more midnight

[Anonymous]

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MidnightVoice wrote:

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psychic wrote:

You've shown recent use of credit cards.

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As I posted elswhere, it appears you can have a zero balance and FICO knows you have used the cards (if you have) 

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That's a very good point!  I remember your very recent post.  I once had a problem with TU, though.  On one occasion, they noted that I didn't show recent use of revolving credit.  At that time, I was using my credit cards regularly, but making the mistake of paying all of my revolving balances in full before the closing dates.  I learned that it was important to have a balance showing monthly on at least one revolving account

[Anonymous]

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monitorking3 wrote:

tell me more midnight

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You can find MidnightVoice's original thread regarding this issue at--

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=19588

[MidnightVoice]

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=19588#M19588

Not a very populat thread 

[Anonymous]

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MidnightVoice wrote:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=19588#M19588

Not a very populat thread 

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I enjoyed reading it. 

[Anonymous]

Date of last payment amount needs to be updated each month with an amount greater than zero,, and should be more than minimum payment or PIF if less than min payment rewards me the most.

Message Edited by ilovepizza on 04-24-2008 08:02 AM