$2000 purchase

[subwaysandwich]

So I just made a $2000 on my capital one card. I want to be able to show other CCC that I make these large purhcases, so that they can possibly give me CLIs eventually. I don't think I should let this util report?.. Or should I pay in full before statement cuts as I have another card that will report? Or will other CCC's soft pull me at random times and then see that I made a large purchase and want to CLI me that way? Thanks!

[jsucool76]

If you don't let the balance report, how will it show other CCCs that you can pay off big purchases?

Let it report...the util will only hurt you for one month, then just PIF before the due date if this is your plan. 

[subwaysandwich]

Ok I see. What if I plan to make another big purchase? Should I let that report as well (even though my util will take a hit for 1 month)? I just don't want CCC to get suspicious and take AA on me haha

[Anonymous]

I just did that, made a "statement purchase." let it report for all credit issuers to see, and PIF the day after Amex cut the statement.  Now, I was planning of applying for a 2nd Amex card, so they would know I did both of those things.  Other creditors would have to wait a month to find out I did PIF.  In any case, any bad score issue would only last a month, while my purchasing power statement will last a lifetime... or seven years when it goes out of my report...

[jsucool76]

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@subwaysandwich wrote:

Ok I see. What if I plan to make another big purchase? Should I let that report as well (even though my util will take a hit for 1 month)? I just don't want CCC to get suspicious and take AA on me haha

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What will happen is...for that month you'll have high util on that one card, 66% on your card, but only...around 11% overall util, (not a big deal). However, your HIGH BALANCE on that account will update to 2000, showing that you at one point had that much of a balance on the card, showing others how much you've actually spent on it. Plus it will also show that when your balance was $2000 that month..you paid $2000. Not really a big deal. 

I once had about 90% util on my cards, paid the minimum payments on all my cards, though I was never late, took me about a year to pay off my debt, but I never received any AA. The "high balance" on my cap1 card (3500 limit) is like...$3400, lol. 

[subwaysandwich]

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@jsucool76 wrote:

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@subwaysandwich wrote:

Ok I see. What if I plan to make another big purchase? Should I let that report as well (even though my util will take a hit for 1 month)? I just don't want CCC to get suspicious and take AA on me haha

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What will happen is...for that month you'll have high util on that one card, 66% on your card, but only...around 11% overall util, (not a big deal). However, your HIGH BALANCE on that account will update to 2000, showing that you at one point had that much of a balance on the card, showing others how much you've actually spent on it. Plus it will also show that when your balance was $2000 that month..you paid $2000. Not really a big deal. 

I once had about 90% util on my cards, paid the minimum payments on all my cards, though I was never late, took me about a year to pay off my debt, but I never received any AA. The "high balance" on my cap1 card (3500 limit) is like...$3400, lol. 

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Thank you very much! I'm gonna take your advice!

[subwaysandwich]

I have one more question. So I was looking at my credit report and it shows high balance under each CCC. Even though it shows the high balance, I don't recall ever having that number report after my statement closed. Is that just for the CCC's own record keeping or is that what every credit card company can see if they soft pull? If CCCs do report high balance without me needing to report at the statement closing, doesn't that mean I won't need to report it and other CCCs will know?

[Anonymous]

They should be able to see it without you letting it report, but if you let it report is more "in you face" kind of thing.  Some of us, like that.

Anyway, the only real advantage of letting it report is that bureaus only report one high balance, so if three months from now you make a $2010 purchase, this one of $2000 is like it never happened and other creditors wont see a pattern of high purchases, if that is what you want them to see...

[subwaysandwich]

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@Anonymous wrote:

They should be able to see it without you letting it report, but if you let it report is more "in you face" kind of thing.  Some of us, like that.

Anyway, the only real advantage of letting it report is that bureaus only report one high balance, so if three months from now you make a $2010 purchase, this one of $2000 is like it never happened and other creditors wont see a pattern of high purchases, if that is what you want them to see...

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What I want is to have sort of an element of surprise and not always show a high balance. I hope that CCCs will see that and not know when my next big purchase might be, so they might be more willing to give me a CLI to increase my chances of having my next big purchase swiped with their card? Is this plan a no go?

[FixMyCredit1992]

Maybe it's just me, but making a big purchase, and letting it report, would not put you in a higher chance of a CLI.

Think about it, if your the CCC, and saw someone buy something expensive with their card, would you be willing to grand more credit? To me, it would signal the posibility of maxing out the card, especially if the limit is low.