So, I just got both Freedom and CSP about 1 month ago. My scores dropped 13-17 points as a result of the new accounts, which I was expecting. However, I remembered reading here on the forums that Chase will update to CR mid-statement cycle if you go to "0" balance. None of my other accounts have ever done that, so I was a bit skeptical.
I did a fair amount of spend on both cards working toward my bonuses, then PIF and didn't use the card for a few days to see what would happen. Sure enough, I can report that Chase did update when I had "0" balances and I got a nice 5 point bump on all my reports as a result! Not a big deal for the 800 club, but for those of us trying to stay in the 700 club it was a nice boost and pushed my Equifax score back over 700. 701, just looks much better than 697!! 
I know scores will bounce around and it will drop back down, but just thought I would share, for those of you looking for a way to tweak out those few extra points before your next statement date for app spree, mortgage or what have you.
Nice I've used this tweaking method quite a bit over the last few months.
@Anonymous wrote:Nice
Cheater.
@Anonymous wrote:
@Anonymous wrote:Nice
Cheater.
Hey its their system doing the updating. I had no part in creating how it works I'm simply taking advantage 
Chase is free to cut this out anytime.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:Nice
Cheater.
Hey its their system doing the updating. I had no part in creating how it works I'm simply taking advantage
Shhh.... I'd actually like to encourage all the lenders to do it. We certainly get hit when utilization goes up, why not get rewarded for PIF Chase is easily becoming my new favorite (sorry Amex).
@Anonymous wrote:So, I just got both Freedom and CSP about 1 month ago. My scores dropped 13-17 points as a result of the new accounts, which I was expecting. However, I remembered reading here on the forums that Chase will update to CR mid-statement cycle if you go to "0" balance. None of my other accounts have ever done that, so I was a bit skeptical.
I did a fair amount of spend on both cards working toward my bonuses, then PIF and didn't use the card for a few days to see what would happen. Sure enough, I can report that Chase did update when I had "0" balances and I got a nice 5 point bump on all my reports as a result! Not a big deal for the 800 club, but for those of us trying to stay in the 700 club it was a nice boost and pushed my Equifax score back over 700. 701, just looks much better than 697!!
I know scores will bounce around and it will drop back down, but just thought I would share, for those of you looking for a way to tweak out those few extra points before your next statement date for app spree, mortgage or what have you.
on which dates did you keep the 0 bal and for how many days?
@Anonymous wrote:
@Anonymous wrote:So, I just got both Freedom and CSP about 1 month ago. My scores dropped 13-17 points as a result of the new accounts, which I was expecting. However, I remembered reading here on the forums that Chase will update to CR mid-statement cycle if you go to "0" balance. None of my other accounts have ever done that, so I was a bit skeptical.
I did a fair amount of spend on both cards working toward my bonuses, then PIF and didn't use the card for a few days to see what would happen. Sure enough, I can report that Chase did update when I had "0" balances and I got a nice 5 point bump on all my reports as a result! Not a big deal for the 800 club, but for those of us trying to stay in the 700 club it was a nice boost and pushed my Equifax score back over 700. 701, just looks much better than 697!!
I know scores will bounce around and it will drop back down, but just thought I would share, for those of you looking for a way to tweak out those few extra points before your next statement date for app spree, mortgage or what have you.
on which dates did you keep the 0 bal and for how many days?
Smartzig, They first posted as new accounts on 3/1 taking score down 9 points. The accounts posted their first balances on 3/25 and my scores dropped another ~9 points. I PIF taking both to "0" two days later (3/27). Then on 3/31 TU posted +5 for balance decrease and on 4/1 Eq +4 . My statement cut dates are 17th and 18th day of the month.
I hope this is true! I just paid my Chase Amazon Visa from $2300 to $0, the credit util drop should help me tremendously. I was going to actually call them to see if they can do a mid cycle update.
@chalupaman wrote:That's one of Chase's many perks. Glad you've discovered it for yourself and fully taking advantage of it. It reports almost immedately to EX for me and then the other bureaus in a few days. I've known about it for a while now and have taken advantage of it several times too.
That is very convenient! I'm really glad I found it in this forum util is reporting on all three CRA at around 90% for my Chase account which I expect is hurting me.