I would like to input from folks with 0 credit debt or folks who do not revolve credit card debt and their general FICO score ranges. I would like to see how high scores are in general for folks with no credit card/revolving debt w/ no derogs or lates on credit reports. Thanks...
Well let's see. I have about $9,000 balances across 3 cards. My average score is 780. I have the 9 grand and will soon go ahead and pay it all down to zero. I'm wanting to see what it does to my scores. I'll let ya know.
When I first paid off all of my debt my scores rocketed to over 800. When FICO hit 808 I actually received this message: "Because your FICO score is exceptionally high, there are no actionable negative factors present with your score. Continue to manage your credit as you currently are doing to maintain your very high FICO score." That was about 9 months ago. But then, even though my report did not change, my scores slipped down to the 780s. In the near future I am planning to add a little debt (7-8K or so) and then pay it down and see what happens. Also, for some reason, my refi isn't reporting yet. I'm sort of waiting to see what impact that has before I tweak things again. I have a theory that FICO rewards highly if you demonstrate a payoff trend. Ratios are also very important (spread debt around on 3-4 cards)
My score is 780, with utilization as high as 80%. Have not had a 0 balance in years. I always use my credit. wwww.creditsense.com
