Hi All
I have just been browsing through my free credit files - for each month, they show what my "highest debt" was - I clear them every month - except for leaving like $20 owing on one of my cards
For example, about 3 months ago, I bought a new utility trailer - which took my util on one of my cards to about 85% - i paid it off within 2 weeks - but would potential lenders see that i did that - and would it count against me?
I have been reading good reviews on here about NFCU - im not sure who they are - but will be checking them out
Thanks 
Only under manual review would they see it. Wouldn't account against you
To be clear, high balance is reported. However, FICO scoring does not take that variable into account in scoring. However it is possible that lenders internal scoring might or maybe used for credit limit determination. I have some circumstantial evidence that some lenders look at that for credit line determination. In any case, a high reported high balance isn't a negative and likely a positive. Of course having the actual balance at high balance isn't good but that is function of reported balance (which is used for FICO scoring). Also, remember there is no consistency between credit card companies on how they report high balance. Some report lifetime high balance. Others report high balance within a certain time such as a year.
LIMITS IN CARD DESCRIPTIONS
@FinStar wrote:Yes, the High Credit/High Balance (or highest amount charged) is reported to the CRAs.
+1...just saw these info on my reports recently
From my experience pulling my own credit reports from all CRA's and through myfico multiple times:
1. Daily high balance is reported.
2. Daily high balance is used to substitute for credit limit in FICO scoring if the revolver card doesn't report the credit limit.
I don't understand why people would say otherwise. Should be obvious if you have bothered to pull your credit reports.
1. Daily high balance is reported.
2. Daily high balance is used to substitute for credit limit in FICO scoring if the revolver card doesn't report the credit limit.
I don't understand why people would say otherwise. Should be obvious if you have bothered to pull your credit reports.
@nyancat wrote:
@HiLine wrote:
From my experience pulling my own credit reports from all CRA's and through myfico multiple times:
1. Daily high balance is reported.
2. Daily high balance is used to substitute for credit limit in FICO scoring if the revolver card doesn't report the credit limit.
I don't understand why people would say otherwise. Should be obvious if you have bothered to pull your credit reports.2. Is only true under old versions of the FICO model. Now, cards without a reported credit limit are ignored for calculating utilization.
I'm not sure nyancat is right. It is right for Amex Charge cards. I am unclear for those revolvers that don't report a CL (because they are signature etc.) if it is true as well or if HiLine's point is correct. I will say that some Visa Signature's no set limit was causing problems as many card issuers didn't know how to handle so they didn't report anything. But I think that problem is no longer the case for the most part as card issuers have made changes to their computer systems.
Nyancar, how did you figure out that about newer FICO models? As far as I know, MyFICO Equifax score is the one most widely used by mortgage lenders these days, and it definitely treats high balance the same way I described.