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Pastimes : Can't Beat Amazon!

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Nov 7 9:30 AM EST

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From: Siber	8/3/2019 5:55:57 AM
	Read Replies (1) of 2477

I'm pissed. Got an email today advising there has been a change to my FICO score so I went to the credit card site to check it out. In February it was 818 and in July it dropped 45 points to 773. Here's their explanation: Key Factor(s) Affecting Your FICO® Score: 1 Proportion of balances to credit limits on bank/national revolving or other revolving accounts is too high As one of the most important score factors, FICO® Scores evaluate account balances in relation to available credit on revolving accounts. Your score was impacted because your proportion of balances to credit limits on these accounts is too high. 2 Lack of recent installment loan information FICO® Scores consider recent non-mortgage installment loans (such as auto or student loans) information on a person’s credit report. Your score was impacted because your credit report shows no recent non-mortgage installment loans or insufficient recent information about your loans. ..................... Well, I pay my cards off each month, never carry a balance, so I don't know what the hell reason #1 is all about and I don't know who to contact to straighten that out. Maybe they're just miffed because they don't earn any interest from me so they dropped that in there just to get even. As for reason #2, it's true, but why am I being punished for not having loans or a mortgage? I'll be damned if I'm going to put a mortgage on my house just to get 45 points back. If I ever buy another new car (unlikely because my car is newish and in great shape) I won't be buying that on credit either. They've had the same information for years and suddenly, out of the blue, they decided it was a bad thing. I don't really care because I have no intention of getting a loan of any kind in the future so a FICO score doesn't really affect me. It just irritates me thinking that each reporting period my score might keep going down because I don't want to be in debt. Shouldn't it be our main goal in life to stay out of debt? I'm wondering if this scoring system is a new thing because this is the first time my score has dropped and I've had credit cards all of my adult life. In the U.S. I've only had cards since 1983 when I moved here from Canada. Pah!

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