Comments on: Five Surprising Facts About Credit Scores http://creditscoresexposed.com/blog/uncategorized/five-surprising-facts-credit-scores/ Your insider guide to credit scores and credit reports Sun, 28 Jun 2009 17:26:59 -0400 http://wordpress.org/?v=2.8 hourly 1 By: Carl http://creditscoresexposed.com/blog/uncategorized/five-surprising-facts-credit-scores/comment-page-1/#comment-206 Carl Thu, 04 Jun 2009 13:07:32 +0000 http://creditscoresexposed.com/blog/?p=12#comment-206 Hi, all Bill- It will be best if you keep balances as low as possible, debt to credit ratio makes a 35% of your credit score under the FICO model. Anything over 15% is too much, it will subtract points. A high balance on a installment account has a small negative impact on you score, much smaller than a high balance on a credit card. This is so due to the nature of the loan. A home equity, mortgage or car loan for instance must have an almost 100% debt to credit ratio when the account is first reported, from there as opposite to a credit card you pay it down to zero. I missed payment has the same effect on your score regardless of the type of loan Hi, all

Bill- It will be best if you keep balances as low as possible, debt to credit ratio makes a 35% of your credit score under the FICO model.
Anything over 15% is too much, it will subtract points.

A high balance on a installment account has a small negative impact on you score, much smaller than a high balance on a credit card. This is so due to the nature of the loan. A home equity, mortgage or car loan for instance must have an almost 100% debt to credit ratio when the account is first reported, from there as opposite to a credit card you pay it down to zero. I missed payment has the same effect on your score regardless of the type of loan

]]> By: Bill Ferguson http://creditscoresexposed.com/blog/uncategorized/five-surprising-facts-credit-scores/comment-page-1/#comment-34 Bill Ferguson Fri, 10 Oct 2008 14:51:15 +0000 http://creditscoresexposed.com/blog/?p=12#comment-34 Does a high balance on a home equity line also effect your credit score if you pay it on time every month? Does a high balance on a home equity line also effect your credit score if you pay it on time every month?

]]> By: Bill Ferguson http://creditscoresexposed.com/blog/uncategorized/five-surprising-facts-credit-scores/comment-page-1/#comment-32 Bill Ferguson Thu, 09 Oct 2008 19:17:06 +0000 http://creditscoresexposed.com/blog/?p=12#comment-32 What percentage of the total credit limit on a credit card do you have to be at to not be a negative on your credit score? What percentage of the total credit limit on a credit card do you have to be at to not be a negative on your credit score?

]]> By: Silvia http://creditscoresexposed.com/blog/uncategorized/five-surprising-facts-credit-scores/comment-page-1/#comment-31 Silvia Sat, 04 Oct 2008 04:31:45 +0000 http://creditscoresexposed.com/blog/?p=12#comment-31 Thank You. The information is easy to understand and mighty enlightening. Thank You. The information is easy to understand and mighty enlightening.

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