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Contributor
VirusCredit13
Posts: 163
Registered: ‎02-20-2013
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Best utility before spree.

Currently have balance as such

 

AMEX 1630/2000 81% util (balance was lower but made purchases since)

Jcrew 32/700 4% util

Discover 800/2000 40% util

all other cards 0 balance

total balances 2461/15000             16% util

 

Have 1350 to spend and was goign to go on a spree after amex statement updates.

 

I'm going to pay off jcrew before statement comes out. It hasn't reported since last july, and I just used to to show some activity. Will it still report if there is no balance but there was a puchase + a payment? Not sure on that.

 

Jcrew paid of completely either way, but In terms of utility which would be better:

Paying 211 on discover and 1107 on amex, bring both utility <30%, or paying $800 on discover and $518 on amex giving me 56% util on amex but only one card reporting. Both those cards are 0% APR so interest is not a concern.

Contributor
VirusCredit13
Posts: 163
Registered: ‎02-20-2013
0

Re: Best utility before spree.

Additonal question.

 

Going to open 3 new cards, 1 being amex. Amex was going to be first, but also plan to as for CLI on my current amex. Would doing the CLI before applying to card, have any effect on them willing to give me a new card intenrally? I know it won't have any immediate inpact on Fico. 

Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007
0

Re: Best utility before spree.

What Amex do you want to apply for?

I would CLI first, then apply

What are the other 2 cards you want to apply for?

 

What was Amex last statement balance? maybe good to apply for everything now before the new balance reports

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Contributor
VirusCredit13
Posts: 163
Registered: ‎02-20-2013
0

Re: Best utility before spree.

[ Edited ]

Creditaddict wrote:

What Amex do you want to apply for?

I would CLI first, then apply

What are the other 2 cards you want to apply for?

 

What was Amex last statement balance? maybe good to apply for everything now before the new balance reports


I want to apply for Everyday.

Balance was ~1400 last statement. Next reported balance will be lower than current balance and statement balance, so want to apply when its lower. Also when Discover updates lower as well. 

 

One of other cards will be salliemae, 3rd one i'm not sure yet, but will be ONE of US Bank Cash+, Chase Freedom, CapOne QS, and Best Buy MC.

Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007
0

Re: Best utility before spree.


VirusCredit13 wrote:

Creditaddict wrote:

What Amex do you want to apply for?

I would CLI first, then apply

What are the other 2 cards you want to apply for?

 

What was Amex last statement balance? maybe good to apply for everything now before the new balance reports


I want to apply for Everyday.

Balance was ~1400 last statement. Next reported balance will be lower than current balance and statement balance, so want to apply when its lower. Also when Discover updates lower as well. 

 

One of other cards will be salliemae, 3rd one i'm not sure yet, but will be ONE of US Bank Cash+, Chase Freedom, CapOne QS, and Best Buy MC.


so you have the payment and reporting in mind so once that happens:

1. I would CLI current Amex

2. Apply for new Amex

3. Apply for Sallie Mae

4. Apply for Chase Freedom

5. Apply for QS or if you shop at Best Buy then them instead of QS or both for that matter but do which ever you want more first.

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Contributor
VirusCredit13
Posts: 163
Registered: ‎02-20-2013
0

Re: Best utility before spree.


Creditaddict wrote:

VirusCredit13 wrote:

Creditaddict wrote:

What Amex do you want to apply for?

I would CLI first, then apply

What are the other 2 cards you want to apply for?

 

What was Amex last statement balance? maybe good to apply for everything now before the new balance reports


I want to apply for Everyday.

Balance was ~1400 last statement. Next reported balance will be lower than current balance and statement balance, so want to apply when its lower. Also when Discover updates lower as well. 

 

One of other cards will be salliemae, 3rd one i'm not sure yet, but will be ONE of US Bank Cash+, Chase Freedom, CapOne QS, and Best Buy MC.


so you have the payment and reporting in mind so once that happens:

1. I would CLI current Amex

2. Apply for new Amex

3. Apply for Sallie Mae

4. Apply for Chase Freedom

5. Apply for QS or if you shop at Best Buy then them instead of QS or both for that matter but do which ever you want more first.


Okay thanks for CLI first decision, was thinking that was better was not sure.

 

Any opinion on on how I should do payments? Basically is 2 cards reporting both <30% utl better or only one card reporting but ~50% util. Total util <7% in both scenarios.

Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007
0

Re: Best utility before spree.


VirusCredit13 wrote:

Creditaddict wrote:

VirusCredit13 wrote:

Creditaddict wrote:

What Amex do you want to apply for?

I would CLI first, then apply

What are the other 2 cards you want to apply for?

 

What was Amex last statement balance? maybe good to apply for everything now before the new balance reports


I want to apply for Everyday.

Balance was ~1400 last statement. Next reported balance will be lower than current balance and statement balance, so want to apply when its lower. Also when Discover updates lower as well. 

 

One of other cards will be salliemae, 3rd one i'm not sure yet, but will be ONE of US Bank Cash+, Chase Freedom, CapOne QS, and Best Buy MC.


so you have the payment and reporting in mind so once that happens:

1. I would CLI current Amex

2. Apply for new Amex

3. Apply for Sallie Mae

4. Apply for Chase Freedom

5. Apply for QS or if you shop at Best Buy then them instead of QS or both for that matter but do which ever you want more first.


Okay thanks for CLI first decision, was thinking that was better was not sure.

 

Any opinion on on how I should do payments? Basically is 2 cards reporting both <30% utl better or only one card reporting but ~50% util. Total util <7% in both scenarios.


since you are CLI amex and applying for 2nd amex I would much rather have 1 card that is not amex report 50% and have amex report paid off.

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:

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