Credit Card Question

(From a post of mine in January;) I recall a thread here some time back that there were factors that created the score. From the PBS show Frontline's "Secret History of the Credit Card" we have;

35% payment history 30% amounts owed 15% length of credit history 10% new credit 10% types of credit used

To the extent that your juggling creates lower 'credit history' and higher 'new credit' the guy had a point. You can check your credit report for free every 4 months at

different agencies, once each per year) but that doesn't give you your FICO score. That you have to pay for.JOE

Roger wrote on [Thu, 21 Jun 2007 16:44:38 -0500]:

High utilisation and many closed accounts can be negative factors.

Not necessarily your credit score, in the sense of judging your prospects of paying the bill.

However, there are profitability prediction systems. So a credit card issuer may view you negatively, because your behaviour patterns don't result in profits for the banks.

Even seemingly "perfect" behaviour like yours, actually costs the banks. They consider each card account to have an "acquisition cost," which includes a slice of the advertising budget, along with the application processing, etc. And, of course, you are receiving free loans, while they had to pay interest for that money that lent you. Plus support costs, like generating statements.

I recall once reading an article in a trade magazine, where an official at at large bank actually used the word "victimise" to describe what such "perfect" customers do to banks.

snipped-for-privacy@THE-DOMAIN-IN.SIG wrote on [Fri, 22 Jun 2007 04:05:29 -0500]:

They do call the pay in fullers deadbeats.