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I'm letting 2% report instead of 1% this month

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pizza1
Community Leader
Super Contributor

I'm letting 2% report instead of 1% this month

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!! 

Message 1 of 17
16 REPLIES 16
Anonymous
Not applicable

Re: I'm letting 2% report instead of 1% this month


@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.

Message 2 of 17
TRC_WA
Senior Contributor

Re: I'm letting 2% report instead of 1% this month

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.

FICO8 current as of : 4-17-24 EQ: 724 TU: 707 EX: 706
Hard INQs last 12 months: EQ: 5 | TU: 8 | EX: 9
Verizon Visa $8500 Amex Delta Reserve $10,000 Care Credit $18,000
NFCU CashRewards $7500 Apple Card $7000 Best Buy $8000 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) 6.95%
NFCU motorcycle loan (2024 Harley Davidson Road Glide - Alpine Green & Chrome) 9.45%
Total CL: $64,000 --- Total CC UTI: 27% --- AAoA: 5.5 years --- Income: $200k
Last app: 4-6-24
Message 3 of 17
pizza1
Community Leader
Super Contributor

Re: I'm letting 2% report instead of 1% this month

Me either but it's keeping me busy
Message 4 of 17
CreditCuriosity
Moderator Emeritus

Re: I'm letting 2% report instead of 1% this month


@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.

Message 5 of 17
tcbofade
Super Contributor

Re: I'm letting 2% report instead of 1% this month


@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!  Smiley Happy

04/01/24 Fico 8: EX 763, EQ 799, TU 783.
Fico 9: EX 756 03/13/24, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 6 of 17
TRC_WA
Senior Contributor

Re: I'm letting 2% report instead of 1% this month


@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.  Smiley Happy

FICO8 current as of : 4-17-24 EQ: 724 TU: 707 EX: 706
Hard INQs last 12 months: EQ: 5 | TU: 8 | EX: 9
Verizon Visa $8500 Amex Delta Reserve $10,000 Care Credit $18,000
NFCU CashRewards $7500 Apple Card $7000 Best Buy $8000 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) 6.95%
NFCU motorcycle loan (2024 Harley Davidson Road Glide - Alpine Green & Chrome) 9.45%
Total CL: $64,000 --- Total CC UTI: 27% --- AAoA: 5.5 years --- Income: $200k
Last app: 4-6-24
Message 7 of 17
pizza1
Community Leader
Super Contributor

Re: I'm letting 2% report instead of 1% this month

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 .
Message 8 of 17
CreditCuriosity
Moderator Emeritus

Re: I'm letting 2% report instead of 1% this month


@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?Smiley Happy

Message 9 of 17
Anonymous
Not applicable

Re: I'm letting 2% report instead of 1% this month


@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?Smiley Happy


Best advice ever.

Message 10 of 17
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