| By Greg Fisher
See Christmas in July.
From: Greg Fisher, firstname.lastname@example.org
To: Michelle Singletary, syndicated personal finance columnist, Washington Post; Claire Tsosie, staff writer, Nerdwallet; Christine DiGangi, writer, credit.com
cc: "Elisabeth Hershman, media contact, Americas, Fair Isaac; Jeanne Kelly, credit coach/speaker/author
Date: Tue, Aug 2, 2016 at 12:13 PM
Subject: The advice business, credit score utilization ratio, keeping-it-under-30-percent myth #1605y
See this message and your response at http://creditscoring.com/interaction/2016/08/02-washington-post.html [this page].
Ms. Singletary, you wrote, "If you must carry debt, FICO recommends keeping your credit card debt at 30 percent or less of your available credit." https://www.washingtonpost.com/business/get-there/the-simple-way-to-improve-your-credit/2014/09/09/9b193e1c-385a-11e4-9c9f-ebb47272e40e_story.html
Subsequently, Tom Quinn of Fair Isaac ("FICO") stated
Q13: I've heard having 30% utilization on my credit cards has the best impact on a FICO Score. True or False? #MeetFICO
A13: Not true. In general, the lower utilization the more points received. #meetFICO
Ms. Tsosie, you wrote, "FICO recommends keeping it even lower, below 30 percent on every card, for good credit." http://money.usnews.com/money/blogs/my-money/articles/2016-07-19/why-your-credit-card-application-was-rejected
Ms. DiGangi, you wrote, "FICO recommends keeping your utilization below 30%." http://finance.yahoo.com/news/could-making-minimum-payments-hurt-130010354.html
See an article I wrote about the phenomenon, urban legend and confusion: "Credit score utilization ratio, the magic number - Myth #4 - Debunking the myth of the 30 Percent Solution, the credit card balance to-limit ratio safe zone." http://creditscoring.com/myths/utilization-ratio/magic.html
There is enough blame to go around. Nothing special happens at 30%. Citizens are misinformed. Regardless of what someone at Fair Isaac said, what is the truth?
Will you make a clarification?
This is important, so please reply today. #1605y
Follow the activity of Item #1605y using that hashtag.