Question
http://www.nytimes.com/2005/05/21/business/21credit.html?
This is affecting people's Fico Score because the credit rating bureaus think that you are at your limit (and maxed out on that card), thus having a higher ratio of Debt to Available Credit.
Answer
http://www.nytimes.com/2005/05/21/business/21credit.html?
This is affecting people's Fico Score because the credit rating bureaus think that you are at your limit (and maxed out on that card), thus having a higher ratio of Debt to Available Credit.
This is nothing new. Well known about Cap one. I dumped my card over this figuring the card does not help my score so why bother. In ths article they mention the average credit scoreis 705. I do not believe that at all. I almost feel they put out that info so people buy more score and credit services and their own reports or something. 700 or higher is A credit. I dont think most of the country is A credit.
Rob