Huge CLI today!!!!

[tinroofrusted]

JC Penney jumped my limit from $300 to a whopping $1500 today!!!

Time to go do some Christmas shopping. I was actually there yesterday and saw a few neat things for my brother and husband, so here I go!

[BassBoy]

Have fun tin!

[Minnymouth]

Tin - how thoughtfull of JC Penney, raise that credit limit right at Christmas time so you can shop......................lol...... they hope you will spend every dime of it..................

[tinroofrusted]

Tin - how thoughtfull of JC Penney, raise that credit limit right at Christmas time so you can shop......................lol...... they hope you will spend every dime of it..................

I sure would love to.
I ONLY go there to get my clothes, so when they have their sales, I need to be far, far away!

Very thoughtful though, and very much appreciated.

My credit scores are rising rapidly, and are now right around 650, so this is just amazing for me!

[chpxiii]

Very cool, tinroofrusted.

Keep in mind that you need to keep utilization under 10% or your scores drop.

Just sayin'! ;-)

[tinroofrusted]

Very cool, tinroofrusted.

Keep in mind that you need to keep utilization under 10% or your scores drop.

Just sayin'! ;-)

Actually, it's 30%, but no worries there!

[chpxiii]

Actually, it's 30%, but no worries there!

I know that utilization counts for up to 30% of the score itself (not 30% of your available credit) and that if you used over 10% of your available credit that counts against you.

Here's my reference:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

[tinroofrusted]

I know that utilization counts for up to 30% of the score itself (not 30% of your available credit) and that if you used over 10% of your available credit that counts against you.

Here's my reference:

http://ficoforums.myfico.com/fico/bo...thread.id=2654

Well I go by what TrueCredit report says.

Since FICO won't release the details behind how they REALLY use utlization, it really is anyone's guess!

[chpxiii]

Well I go by what TrueCredit report says.

Since FICO won't release the details behind how they REALLY use utlization, it really is anyone's guess!

Interesting. Since FICO isn't a TrueCredit product. It's a Fair Isaac product. TrueCredit gets their numbers from Fair Credit or reports their own. And, IIRC, TrueCredit is a TransUnion. And they simply get their numbers from Fair Isaac .. i.e. MyFico.com.

Let me do a quick look up ...

Yep. TrueCredit is TransUnion, which did not come up with FICO scores. From the bottom of their first page website:

"TrueCredit features TransUnion data for all complimentary credit scores as well as fraud-watch emails. TrueCredit.com is powered by TransUnion Interactive, a wholly owned subsidiary of TransUnion. "

Me, I'd rather go with MyFico.com because it *is* from Fair Isaac and they *are* the FICO people.

[tinroofrusted]

Interesting. Since FICO isn't a TrueCredit product. It's a Fair Isaac product. TrueCredit gets their numbers from Fair Credit or reports their own. And, IIRC, TrueCredit is a TransUnion. And they simply get their numbers from Fair Isaac .. i.e. MyFico.com.

Let me do a quick look up ...

Yep. TrueCredit is TransUnion, which did not come up with FICO scores. From the bottom of their first page website:

"TrueCredit features TransUnion data for all complimentary credit scores as well as fraud-watch emails. TrueCredit.com is powered by TransUnion Interactive, a wholly owned subsidiary of TransUnion. "

Me, I'd rather go with MyFico.com because it *is* from Fair Isaac and they *are* the FICO people.

I'm not going to argue with you on it, but until FICO releases the exact formula of how they determine a FICO score, it truly is anyone's guess, and anyone's determination on how to use the information. I will continue to go with 30%, you can go with 10%, and we'll both be happy.

Now when FICO is finally legally required to release this hidden mystery, then we can discuss it at great depth and pick it apart! AND enjoy every minute of it!

[chpxiii]

tinroofrusted,

I am not arguing with you either. You stated eroneous information. I am stating facts straight from the people who created the FICO score.

You are correct if you mean that Fair Isaac does not reveal actual *formulas* on determining scores, but as plainly stated on their website they do give consumers an indication and a general overall feel for how they actually *do* determine a FICO score.

Keep your debt to credit ratio at 30%. I don't care. It's your credit score, not mine. But I won't let erroneous information simply go by especially when people come to these boards for help and many times even facts.

And as for legally requiring Fair Isaac to reveal their trade secret, not going to happen. The FICO score is a product, like any other product on the market. May as well try and get Coca Cola to reveal their recipe.

[tinroofrusted]

tinroofrusted,

I am not arguing with you either. You stated eroneous information. I am stating facts straight from the people who created the FICO score.

You are correct if you mean that Fair Isaac does not reveal actual *formulas* on determining scores, but as plainly stated on their website they do give consumers an indication and a general overall feel for how they actually *do* determine a FICO score.

Keep your debt to credit ratio at 30%. I don't care. It's your credit score, not mine. But I won't let erroneous information simply go by especially when people come to these boards for help and many times even facts.

And as for legally requiring Fair Isaac to reveal their trade secret, not going to happen. The FICO score is a product, like any other product on the market. May as well try and get Coca Cola to reveal their recipe.

A credit report is considered a product as well, but we are legally able to have access to that. I personally feel that one day the formula will have to be made public because of the overall effect that it has on individual peoples like ourselves.

I don't feel that I stated erroneous information. The information that YOU provided came from another message board; not directly from the FICO people. Even the links are connected to other message board postings. Fair Isaac doesn't give an indication of how they score. It is only pure speculation in what determines a credit score. I feel that to post that, and to let people know that is very important.

Even then there is speculation; is it 10% or 30% across the board? Is it 30 or 10 percent overall utilization? Is it 30 or 10 percent on one card or all? Because this information is not made public, again it's anyone's guess as to what the true factor is!!

You want to talk about erroneous information, let's talk about the fact that everything that we know about FICO's in specific detail, is pure speculation, and there is no set guidelines.

I keep all my credit cards paid off, so it doesn't matter to me what level my % is at.

[tinroofrusted]

PS, I also do not trust a company that sells completely different scores of the same bureau to consumers and creditors.

I know that this personally happens, and it's bogus. Fair Isaac does this, I have seen it first hand, and it's unethical, and should be illegal.

[CandyMoney]

hahahaha! This is just too funny!

You can't even give it away!

Congrats on that HUGE CLI

[sara4]

Have fun tin for me and you!!! I don't have any store cc either, applied none were approved. Don't know what gives could be because I bk'd walmart, target and vs all with very small limits. I guess it would be nice but maybe no was better than yes for now.

sara4