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Pj1369
Posts: 844
Registered: ‎09-23-2007
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Re: 6.99% APR offer



haulingthescoreup wrote:
I think you saw the results of the one-card-with-80% when you lost that gi-normous 60-80 points with the SL BT on to one card. But I do think that you can get away with a high balance on just one card, as long as they others are PIF'd or negligible. However, this might be only applicable to certain situations, I dunno. I've just read enough anecdotal evidence that I think that there's something to it.




My sentiments exactly...hmmm...

Logic would tell you 45% on 2 would be better than 80% util on one...but my gut is telling me it's vice versa. Looking at the behavior aspect, ppl with multiple high util balances is probably a greater risk in the eyes of FICO, rather than someone with jsut one high util card....hmmm...

I'm thinking about splitting up the remainder of my USAA BT if it will help my FICO, with my new Citi card...but I'm beginning to re-think it...hmmm. It would turn one card at 65 % util into two cards at about 45% and 35% respctive util rates...again, hmmmm...
__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
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cheddar
Posts: 6,794
Registered: ‎09-29-2007
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Re: 6.99% APR offer



Pj1369 wrote:


Logic would tell you 45% on 2 would be better than 80% util on one...but my gut is telling me it's vice versa. Looking at the behavior aspect, ppl with multiple high util balances is probably a greater risk in the eyes of FICO, rather than someone with jsut one high util card....hmmm...


Interesting thought!  It's not the conventional wisdom, but it is definitely a good point.
 
If you try it, make sure you let us know the results.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: 6.99% APR offer


cheddar wrote:

If you try it, make sure you let us know the results.

We love guinea pigs, especially when they volunteer! :smileyvery-happy:

Seriously, though, for someone with nerves of steel, a decent amount of patience, and no other changes going on with their reports, it would be pretty cool for them to do a BT with 80% and then each month pay it down to 74%, then 69%, then 64%, and so on, and see where the score breaks occur.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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cheddar
Posts: 6,794
Registered: ‎09-29-2007
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Re: 6.99% APR offer



haulingthescoreup wrote:
 
We love guinea pigs, especially when they volunteer! :smileyvery-happy:

Seriously, though, for someone with nerves of steel, a decent amount of patience, and no other changes going on with their reports, it would be pretty cool for them to do a BT with 80% and then each month pay it down to 74%, then 69%, then 64%, and so on, and see where the score breaks occur.

That would be great if someone would do that!
 
I may have something up my sleeves long those lines.  Stay tuned and I'll let everyone know, but it will be a few weeks before I know if it will happen.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
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Pj1369
Posts: 844
Registered: ‎09-23-2007
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Re: 6.99% APR offer

In terms of tracking, I've been doing that...I can crunch some numbers and post an update...of the breaks have so far...I started at 92% util on one card and I'm down to 80% percent in terms of what is being reported (probably close to 65-70% now)...now I need to figure out if I should continue with the slow crawl for the sake of knowledge or try the citi-split experiment to see where that takes me....hmmm...I'm torn.
__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: 6.99% APR offer


Pj1369 wrote:
In terms of tracking, I've been doing that...I can crunch some numbers and post an update...of the breaks have so far...I started at 92% util on one card and I'm down to 80% percent in terms of what is being reported (probably close to 65-70% now)...now I need to figure out if I should continue with the slow crawl for the sake of knowledge or try the citi-split experiment to see where that takes me....hmmm...I'm torn.


See, this is my excuse for why I pull my scores so often. It's all for Science! :smileywink:
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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WhirledPeasPlease
Posts: 3,418
Registered: ‎12-27-2007
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Re: 6.99% APR offer



haulingthescoreup wrote:

Pj1369 wrote:
In terms of tracking, I've been doing that...I can crunch some numbers and post an update...of the breaks have so far...I started at 92% util on one card and I'm down to 80% percent in terms of what is being reported (probably close to 65-70% now)...now I need to figure out if I should continue with the slow crawl for the sake of knowledge or try the citi-split experiment to see where that takes me....hmmm...I'm torn.


See, this is my excuse for why I pull my scores so often. It's all for Science! :smileywink:

Uh yeah, me too (cough).  It has nothing to do w/ my OCD, nope, nothin' at all!  :smileywink:
 
I'm just coming off a 'twice in 4 days' bender - I'm blaming the coupon.  Yup.
 
-P
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Established Contributor
Pj1369
Posts: 844
Registered: ‎09-23-2007
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Re: 6.99% APR offer

[ Edited ]
never mind, my tracking data sucks due to recent CLIs and INQs...not all external variables remained constant...so it's hard to see the breaks the past two months due solely to the BT Balance being reducted...erhh...sorry!

Message Edited by Pj1369 on 04-01-2008 11:44 PM
__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
Established Contributor
Pj1369
Posts: 844
Registered: ‎09-23-2007
0

Re: 6.99% APR offer

I went ahead and split the BT balance between USAA and Citi - I look forward to sharing results at the end of the month. Stay tuned!
__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: 6.99% APR offer



Pj1369 wrote:
I went ahead and split the BT balance between USAA and Citi - I look forward to sharing results at the end of the month. Stay tuned!

I can't wait.  This will be interesting.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )

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