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I'm doing a little test this month to see if it changes my scores any. I always only let 1% report monthly. This month I'm letting 2% report just to see if there's any changes. I'm letting close to $600 report on my navy card with a $10k limit, which is 6% util on that card. Gotta do something to keep me busy and in the garden. I'm coming up on 3 months now gardening(in about 10days). I guess I'll report back with the results, lol!!
@pizza1 wrote:I'm doing a little test this month to see if it changes my scores any. I always only let 1% report monthly. This month I'm letting 2% report just to see if there's any changes. I'm letting close to $600 report on my navy card with a $10k limit, which is 6% util on that card. Gotta do something to keep me busy and in the garden. I'm coming up on 3 months now gardening(in about 10days). I guess I'll report back with the results, lol!!
I don't think it'll make any difference.
It won't make a difference.
What will is the number of cards reporting a $0 balance. I've tested it... I once gained 3 points when I paid off a card that had been reporting a $10 balance.
Letting $1 report doesn't look as good as letting $0 report.
@TRC_WA wrote:It won't make a difference.
What will is the number of cards reporting a $0 balance. I've tested it... I once gained 3 points when I paid off a card that had been reporting a $10 balance.
Letting $1 report doesn't look as good as letting $0 report.
LOL spot on.. Somehow I let $3 report on a 2nd credit card, being I leave about 100 - 200 on a credit card normally and pay all my others off to 0 balance, somehow $3 reported on another one and it dropped my equifax score by 3 points! I was actually suprised.. I think this is what you were referring to, if not another interesting thing I noticed.
@pizza1 wrote:
Me either but it's keeping me busy
...and as we all know, it is certainly a ymmv situation. By all means, play with it, and see what works best for YOU.
Then, please do share. I wanna know!
@CreditCuriousity wrote:
@TRC_WA wrote:It won't make a difference.
What will is the number of cards reporting a $0 balance. I've tested it... I once gained 3 points when I paid off a card that had been reporting a $10 balance.
Letting $1 report doesn't look as good as letting $0 report.
LOL spot on.. Somehow I let $3 report on a 2nd credit card, being I leave about 100 - 200 on a credit card normally and pay all my others off to 0 balance, somehow $3 reported on another one and it dropped my equifax score by 3 points! I was actually suprised.. I think this is what you were referring to, if not another interesting thing I noticed.
Yep.
Late last year I let 9 cards report a balance... Every month I paid one to $0 till I had 7 of 9 reporting $0.
In 6 of the 7 months I gained 1-3 pts when the card reported $0. In 2 of the 3 following months when the $0 cards reported a balance I lost 2 points.
INQs too... I had none on my EQ report in over a year till my recent app spree. Nothing happened when 1st INQ reported... Lost 2 points with the 2nd.
@pizza1 wrote:
I ONLY let one card report monthly at 1%, and all others at $0. But this month I'm letting 2% report and a $-5.00 on Walmart . We shall see, I hope it doesn't drop my score to have a balance report on one card, and an overage payment of $-5.00 on another one. Hmmmm, I think fico will view that one as ($0), and not count it .
Even if it does drop your score, which it SHOULDN'T... You aren't applying for any new credit, so it shouldn't matter.. Right?
@CreditCuriousity wrote:
@pizza1 wrote:
I ONLY let one card report monthly at 1%, and all others at $0. But this month I'm letting 2% report and a $-5.00 on Walmart . We shall see, I hope it doesn't drop my score to have a balance report on one card, and an overage payment of $-5.00 on another one. Hmmmm, I think fico will view that one as ($0), and not count it .Even if it does drop your score, which it SHOULDN'T... You aren't applying for any new credit, so it shouldn't matter.. Right?
Best advice ever.