@Shock_ wrote:
@tornadoguy wrote:Sounds like you are in the same boat as me. I'm at 3 months sunday, and hoping for an auto CLI increase in the next month. I'm also trying for heavy usage - have put some 6.6k through the card since I got it (1k first month, 2.9k second month, 2.7k thus far this month) - mostly in transactions less than $100, but a few above $200. Will be interesting given my lack of other history to see if that works (I also have a banking relationship with them though).
Heavy usage is putting alot of transactions through, and some larger purchases (but not a single large purchases I don't think - thought its pretty hard to go too large with a 500 dollar limit
).
Keeping your util at statement cut is pretty sound, 1-9% is optimum so $20 isn't bad. Paying off before the statement cuts is definitely advisable though as you plan.
i just let it cut at 200. YIKES! First statement was 82, and I made a few payments during the month so I'm putting a decent amount through. Enough that I got my bonus already, and let it cut at 200. UGH! So disappointed but lets hope for the best...Im only expecting like a 300 dollar increase if anything...
I wouldn't be too worried, I let my first cut at 290 - was purchasing a wedding dress for the now wife and it took a week to post, deciding to do so right at the cut. Second was down 40. Kind of not sure what will happen this month - waiting for $360 of charges to post and hoping it does tomorrow so I can make a payment and get that util down again. But if not, c'est la vie. The fact that you pay in full matters more to chase than if your util isn't ideal. Especially if you make plenty of payments during the month (i've been making them ever couple of days). I'll be disappointed if I don't get $500-1k as an increase.
Playing the <10% utl game is only for FICO purposes. If your goal is auto CLIs, how much you let report on your statement balance is not going to have significant impact. For datapoint purposes - I've had my Freedom for 6 months, no auto luv yet. But I have been carrying a large balance taking advantage of the 0% so I'm not expecting it either.
Chase freedom hit 2 years old in July and has never been shown any love, heavy petting, or PDA, LOL!
It's stuck at $3K and I'm morally opposed to trading an HP for CLI, LOL!
Starting Score: 675
@parakleet wrote:Playing the <10% utl game is only for FICO purposes. If your goal is auto CLIs, how much you let report on your statement balance is not going to have significant impact. For datapoint purposes - I've had my Freedom for 6 months, no auto luv yet. But I have been carrying a large balance taking advantage of the 0% so I'm not expecting it either.
For what it is worth I got my auto CLI at the four month mark after very heavy use. I let a large balance report once, always PIF and I focus on my util. At the time of the increase my util on my credit report was 1%.
;
@MafiaS wrote:From all your posts, is having 0 balance a bad idea?
Meaning you never use the card? Or that you PIF before the statement cut? If you want an auto CLI you will need to use the card some (using heavily seems to make it much more likely). In terms of whether or not you should PIF before the statement cuts or let a balance report and then PIF that is a point of debate and people have different opinions. I like to let a high balance report once and then PIF before each statement cuts.
