When fico scores are determined, is the balance to limit ratio calculated for each card or the total balances and total limits on all cards?
Not sure Sam, I thought it was total balance/limits, but my lender told me 2 of my cards were near max and that wasn't helping even though I had plenty on all other cards, plus I have noticed at these sites where they give "their" scoring sysytem both have said the same thing about my 2 accounts, so now I have to wonder???
I have a very high FICO score,and i can tell you this much i have 1 card almost maxed out with a balance of $12,869.75 against a total credit limit of 14K.Also i have 2 other cards with a very small charges that i pay-off every month.My total credit limits on these two cards are $19,500.00,and i have no more then $200.00 charged between the 2 cards.I truley beive FICO calcalates total debt against total credit limits on all cards.Thefore this gives me a debt to income ratio of 13% now thats low,and that explains my very high score.I think if you would all cards over 80% of total credit limits used would hurt you very bad.Does anyone agree with me that theory about this part of credit scoring?
