11-26-2012 05:40 PM
11-26-2012 06:03 PM
I was just reading an email from myfico that linked to a post about holiday balances. It was from 2009, and talked about people suffering creditwise after carrying balances over the holidays... Including cards cutting limits and such.
Am I right in assuming that CCs aren't really doing that now? I've read before that things like balance chasing have diminished in the last 2 years. For me, I always pay well more than the minimum but I rarely PIF. That means I usually have a balance at times, but good payment and usage history.
Eh, as long as your not carrying high util. 60% or over for months I wouldn't worry about it.
11-26-2012 06:24 PM
11-26-2012 06:26 PM
So if they see high util, they could cut limits? How likely is that? I have one card with very high util, but it's a low limit cap one that I'm going to pay down and kill. My main cards carry high at times, but I pay size able payments each month and then don't use until statement generates.
If they see high util. over the course of months and months it might send a red flag up, but as long as your making big payments I would not get spooked about it.
11-26-2012 06:29 PM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO