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Reply to "What is your credit score?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]790-810 or so, on the low end now because we've been doing a major renov/addition so monthly credit card bills are high (but paid in full each month). That's the part the score can't see (that while the balance may be high these few months, there is ~300 times the balance in available savings to pay it from).[/quote] Your score drops even though you pay on time and in full?[/quote] Yes, it can because your credit utilization ratio goes up. You can game this by, for ex., paying the balance early, e.g. just before the date of a FICO score. I've done this to see what happens with my quarterly monitoring and if I pay down the balance so that it's low/close to zero on the date of the score, the score can go up as much as 10-15 points. Credit utilization ratio is why cancelling a card, especially long-held, can lower your score. It results in a higher utilization ratio for your remaining cumulative credit lines.[/quote]
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