What in the world is a credit card high balance used for? I know it's the highest ever reported balance, but what is it for? Who uses it? What's the effect on fico? What does it say to lenders? Why do they even have it?
Some credit card lenders consider the highest reported balance, some the highest unreported balance, which is the highest at any time during any billing cycle. I guess they just want to see how close you are statistically to your credit limit. It's all about risk, you see. Money really, lol.
