I have spent WAY to many hours trying to figure out all of the variables that determine a FICO score the last few years. I know many of you have done the same also. Lets say debt would = 1 to 5% of the total of 7 credit lines. Do you think it matters much if you carried the same debt amount rotating on 2 different credit cards and kept 5 with a $0 balance? Or if you kept the same debt split between 7 credit cards with very small balances. Finance charges would not occur either way. This is just a way of keeping accounts active and open to establish longer payment histories. Also how many points would it swing one way or another? Usually on a credit report with all 3 CRA's it says somewhere "number of accounts with balances".
WITH RNG IT IS HARD TO FIGURE OUT!!! When I PAID OFF $30,000 in one month I took a big "HIT" on my score that I NEVER got back... I owe less NOW with 706...than I owed with 739 (MY HIGH SCORE) MY TOTAL BALANCE DROPS EVERY MONTH...but do I get any benefit??? NO!!!
GEORGE, That is really hard to beleive that you ran a FICO score before the $30,000 hit your credit reports towards the balances you owed and you received a way worse score after the the balances went down. Something else had to have changed that you are not sharing at this point. It is not a RNG in that situation. A FICO simulator would say $30,000 paid towards a balance on the debts would raise your FICO score alot for sure. That much of drop makes no sense at all. That can not be a FICO mistake. GEORGE I respect your input and knowledge but FICO scores are not THAT bad. Maybe you should check it again before and after and see what actually changed. A response like that kills this thread for those trying to raise a FICO score. And also those really trying after credit repair. PEACE
Re: Re: How is FICO score in this situation DID I SAY THE $30,000+ PAYMENT WAS THE CAUSE OF THE 33 POINTS I LOST??? I don't think so... It is just a RNG deal... I have NEVER had any "BADDIES" (credit since 1978) I just use a LOT of credit...balances are not always up to date... When I get a 0.00% BT...I "MAX" IT OUT!!!
Re: Re: How is FICO score in this situation I STILL OWE LESS NOW WITH 706 THEN WHEN I HAD 739!!!!!!! I didn't make the F.I.C.O. scoring system... DON'T FORGET~~F.I.C.O. "THINKS" one inquiry is BETTER than zero inquires!!!
Re: Re: How is FICO score in this situation DON'T READ BETWEEN THE LINES LOOKING FOR SOMETHING THAT IS NOT THERE!!!
Re: Re: How is FICO score in this situation GEORGE, O.K now you shared why you dropped so many FICO points. I can understand the ZERO percent deal. You dropped alot of FICO points for using a ZERO interest percent debt. FICO does not understand why you use a ZERO percent debt. Maybe you should have explained this as far as debt to credit lines. If a creditor were to give anyone like myself a zero percent debt I understand. FICO does not see it this way. It is NOT a RNG like you are saying. They have their system set up the way it is. I am sorry FICO does not understand ZERO percent interest debt, but that is the way it is. FICO is not a RNG like that. It is not a RNG but I understand why you feel the way you do. Can anyone else see beyond this FICO b.s and have an answer? Peace GEORGE if your doing the right thing if you can handle it.
Re: Re: Re: How is FICO score in this situation YOU STILL DON'T UNDERSTAND THAT RNG IS STILL PART OF IT!!! I owe less with 706 then when I had 739!!!
Re: Re: How is FICO score in this situation GEORGE, If you are doing it this way and do not need to owe the money right away than you could see your FICO come back. If you are worried about how often creditors report the balances every month to the CRA's, than I could understand their point too. It is not a RNG on FICO like you are saying. I am not trying to start anything with you at all! I like your advise and input but just want to know the truth on the origanal question. PEACE
Re: Re: Re: How is FICO score in this situation So you are saying that RNG is a LIE??? So how do YOU explain the 33 points while owing TENS OF THOUSANDS LESS???
Re: Re: How is FICO score in this situation GEORGE, RNG has nothing to do with this. A RNG has nothing to do with someones FICO score. Do you really think if you ran your credit score at this point it would be a random number? I understand how FICO works, I have spent so many hours with so many credit reports over and over again to understand it is not a random number. It is not a RNG. I agree FICO sucks as far as paying the CRA's to come up with this score. And that is how they make their money some what. It is not a RNG though!!!
Re: How is FICO Score "Random number generator" started out on this board as a joke between several of us a couple years back. Only George (I think) thought everyone was being serious about it. He truly believes that FICO scores are randomly generated. His reasoning basically goes like this: If you can't explain it, it must be because of the "RNG." Doc
Re: How is FICO Score A Random Number Generator would rule out any conspiracy theories, since conspiracies require planning and intent.
Re: How is FICO Score I'm sorry, I must retract my last remark. The conspirators could be so incompetent that while they intend to achieve a certain result, their actual results are effectively random.
Re: Re: Re: How is FICO score in this situation GEORGE, I am sorry and I do like your posts and input. This was a serious question about FICO and it kind of killed the thread. Lets just agree to disagree about FICO scores, the RNG deal. Anyways I am seriously going over several credit reports from alot of people over time and can not figure this one variable out completely yet. I would be interested from some Vets input on this one like Psychdoc. The original question is a serious one, and if anyone can reply with anything helpful it would be great. I have a passion with numbers and am trying to figure this out myself. And if I can I will share anything over time.
