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Valued Contributor
lg8302ch
Posts: 2,787
Registered: ‎11-13-2012
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Re: Card UTL & multiple payments

The only account I do multiple payments on is Discover due to its low credit line....I am too lazy and prefer it the easy way and PIF once a month on the others. The only thing I try to do is not reporting balances on more than 4 accounts because crossing that 50% number of accounts with a balance gets me a major ding on my scores. But I am also not only looking to report 1 account with a balance...simply too much work for me. The running more than the CL through my Discover did not help..still cannot get a CLI after 1 year....LOL
FICO® EQ 788 (as of today) - TU 767 (09/28) * Fako EX 789 (09/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Silver Spade Garden Club member *

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takeshi74
Posts: 2,791
Registered: ‎06-05-2013
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Re: Card UTL & multiple payments

[ Edited ]

Blackrv7 wrote:

I was under the impression cc companies liked their cards being swiped but after reading a thread about someone's multiple payments being frozen another poster stated card companies may look at these multiple payments as a possible issue.


They do like having their cards swiped regardless of payment strategy.  Multiple payments are generally not an issue but creditors can vary.  I can't comment on the other thread as I have not read it.  It's certainly possible that other factors were at play as well.

Frequent Contributor
Blackrv7
Posts: 399
Registered: ‎11-13-2013
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Re: Card UTL & multiple payments


lg8302ch wrote:
The only thing I try to do is not reporting balances on more than 4 accounts because crossing that 50% number of accounts with a balance gets me a major ding on my scores.


The scoring is nuts, on my Cap1 card, I had a $6 balance last month along with a balance on my Citi (which was pif).  Since I only had two cards and was reporting on two cards....when I paid the $6....my EQ score when up 2 points showing the balance on Cap1 as 0 being the reason.....2 points over $6...crazy :smileysurprised:


Current myFico EX 734, EQ 777, TU 742
AAoA 6 years 3 months, Length 25 years 2 months

Valued Contributor
lg8302ch
Posts: 2,787
Registered: ‎11-13-2012
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Re: Card UTL & multiple payments

@ blackrv7
My little game two months ago...I let report 7 accounts with 1$ balances and 1 with 7% and lost 50+ points...next month I let 70% util report on Chase and got the ponts back....it is really crazy..1$ reporting = loss of 10+ points but I am glad I found out how easy this can be manipulated :smileyhappy:
FICO® EQ 788 (as of today) - TU 767 (09/28) * Fako EX 789 (09/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Silver Spade Garden Club member *

Regular Contributor
too-much-time
Posts: 158
Registered: ‎08-20-2010
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Re: Card UTL & multiple payments


IWOL wrote:

I have quite a few cards but mostly use my Discover it and US Bank card. The limits are $1500 and $3000. Since I spend around $5500 a month through these 2 cards I have to make weekly payments in order to continually use them and not go over the limit.

 

If your monthly charges x 12 exceed your annual income, the credit card company may wonder about it. :smileytongue: :smileyhappy:

 

Frequent Contributor
Blackrv7
Posts: 399
Registered: ‎11-13-2013
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Re: Card UTL & multiple payments

[ Edited ]

lg8302ch wrote:
@ blackrv7
My little game two months ago...I let report 7 accounts with 1$ balances and 1 with 7% and lost 50+ points...next month I let 70% util report on Chase and got the ponts back....it is really crazy..1$ reporting = loss of 10+ points but I am glad I found out how easy this can be manipulated :smileyhappy:

Was that 70% utl on the Chase, if so what did that equate to as per your total utl?


Current myFico EX 734, EQ 777, TU 742
AAoA 6 years 3 months, Length 25 years 2 months

Valued Contributor
lg8302ch
Posts: 2,787
Registered: ‎11-13-2012
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Re: Card UTL & multiple payments

yes on Chase and overal is always less than 9%....wanted to test what high util on single cards would do and to my surprise it did not have an affect for my scores. Should have tested with 90% ..maxed out result. Might repeat this test with Discover one day just to see the results.....while CL is still low might use it for experimenting :smileyhappy:
FICO® EQ 788 (as of today) - TU 767 (09/28) * Fako EX 789 (09/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Silver Spade Garden Club member *

Frequent Contributor
Blackrv7
Posts: 399
Registered: ‎11-13-2013
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Re: Card UTL & multiple payments

 


lg8302ch wrote:
yes on Chase and overal is always less than 9%....wanted to test what high util on single cards would do and to my surprise it did not have an affect for my scores. Should have tested with 90% ..maxed out result. Might repeat this test with Discover one day just to see the results.....while CL is still low might use it for experimenting :smileyhappy:


Thanks, I'll try some experimenting after my scores settle down from my card spree.


Current myFico EX 734, EQ 777, TU 742
AAoA 6 years 3 months, Length 25 years 2 months

Moderator
09Lexie
Posts: 25,880
Registered: ‎09-13-2012
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Re: Card UTL & multiple payments

IME, Discover specifically mentioned that they liked my multiple payments - at the time my CL was $3300 , I received a CLI to $7300.
Valued Contributor
lg8302ch
Posts: 2,787
Registered: ‎11-13-2012
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Re: Card UTL & multiple payments

@ Lexie
Both with SP?
FICO® EQ 788 (as of today) - TU 767 (09/28) * Fako EX 789 (09/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Silver Spade Garden Club member *


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