These companies keep the formula confidential otherwise everyone would be gaming the system. It is actually a combination of balance due, balance available(what you could charge if you maxed out your cards), and payment history. I have no balance but high limits on a few cards. My score is not as high as you'd think because I have the potential to charge the cards to the max.

Postman is right credit score is based on paying off debt not carrying debt

You do not have to carry a balance to get a high credit score. I have no debt (none). I pay my balance each month, and charge between $1,000 and $2,000 each month.

Thomp92: Its responsibility, And Self disipline

Blah, blah blah Im glad these whiners have enough money to pay their bills each month. you must be living in the 60's! times have changed and if you are just out of school or are self employed a credit card is essential. I dont know anyone thats out of debt until they are 50 anyways!

This is still a matter of deceptive business practices. For those of you whom have never used a credit card or carried a balence, good for you. But if we allow lending institutions the ability to change the rules midstream it wont just affect credit cards or small business loans. Soon, they will be able to circumvent and change the contract on your car loan, or even your mortgage. The same banks that carry the notes on your cars and houses own the credit cards. When it no longer is profitable to screw the card holders, they will go after these consumers. As for the gentleman who was bashing Mr. Parry, he is a friend of mine and I did business with his previous employer. I can tell you for a fact that Curt is a stand up guy and better persoanl trainer while his old associate now frequently finds himself in the local police blotter.

All the morons still don't get it....read the fine print...YOU AGREED TO ALLOW THEM TO DO EVERYTHING THEY ARE DOING. That little 20 page book tells you, we'll give you credit, and we'll dictate the way you pay it back, when times are good, we'll be good. Times are bad, it's gonna suck for you.

What it has basically comes down to in today's society is that if you want to get the best rates and lowest payments on things such as your mortgage, car payment, etc, you have to have a great credit score. But to do that you have to show the credit reporting agencies you can handle money properly by owning credit cards, carrying balances, etc basically playing their game. It is when the rules are changed, especially by an "outside force" i.e.credit card companies, that many people end up having trouble trying to maintain their standing. Too much emphasis is placed on one's credit report as there are so many factors which can mess one up, many unintentional. A person's worth to pay back an obligation such as a loan should not be solely based on their credit scores. There are people out there who have the ability to pay back an obligation but are penalized by a poor credit score, many times not by their own doing that causes them to end up paying more in interest charges, or not be eligible for the loan itself.There needs to be a system that better allows creditors to look at the "whole picture" of a person's ability to meet their obligations rather than base heavily on their credit scores ( which can vary greatly by the 3 credit reporting agencies.)

ppl get addicted to their credit cards. A better choice is to get a line of credit from your banking institution

So many idiots out there. Make as many payments on your cards as you want per month. Use YOUR bank to make them on-line, or even mail them in if you have to. Direct deposit or regular deposit your paycheck to your bank, don't cash your check. Don't use your credit card unless you have the cash to buy the item. Use a credit card as a convenience, not as a loan.