Reply
Valued Contributor
Posts: 1,597
Registered: ‎09-15-2012
0

Re: PiF vs carrying a balance

@shock - in your auto loan scenario they will both help your score the same amount. An auto loan on your report with no delinquencies is an auto loan with no delinquencies. FICO couldn't care less about how long it took you to pay it off.

In My Wallet: Amex BCP (12/12) $32,000, Cap1 Quicksilver (6/12) $14,000, Chase CSP (4/14) $12,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Frequent Contributor
Posts: 332
Registered: ‎08-07-2013
0

Re: PiF vs carrying a balance

Duely noted folks. I'm just a little irritated I only got $500 for a Freedom and got denied for a CLI via Alyssa at the Executive Office today...so hopefully the Freedom will grow without any hard pulls. Just looking for a loophole to make it grow faster! Thanks for responding everybody!

Capital One Quicksilver MC $3000 6/2011 | Chase Amazon Visa $1400 8/2012 | Citi Diamond Preferred MC $4200 7/2013 | AMEX Green NPSL 8/2013 | Chase Freedom $1000 Visa 8/2013 | AMEX BCE $7000 2/2014 ==> 2/2013
Valued Contributor
Posts: 2,371
Registered: ‎03-15-2012
0

Re: PiF vs carrying a balance


Shock_ wrote:

Duely noted folks. I'm just a little irritated I only got $500 for a Freedom and got denied for a CLI via Alyssa at the Executive Office today...so hopefully the Freedom will grow without any hard pulls. Just looking for a loophole to make it grow faster! Thanks for responding everybody!


 

Just be patient. Sucks, but it'll pay off. I've never paid a cent of interest, but accounts aging, as well as usage made things grow.
Frequent Contributor
Posts: 332
Registered: ‎08-07-2013
0

Re: PiF vs carrying a balance

[ Edited ]

Burned2manybridgesB4 wrote:

Shock_ wrote:

Duely noted folks. I'm just a little irritated I only got $500 for a Freedom and got denied for a CLI via Alyssa at the Executive Office today...so hopefully the Freedom will grow without any hard pulls. Just looking for a loophole to make it grow faster! Thanks for responding everybody!


 

Just be patient. Sucks, but it'll pay off. I've never paid a cent of interest, but accounts aging, as well as usage made things grow.

I wonder if accounts aging and regular usage (a few hundred bucks PIF per month) will trigger CLI's

Capital One Quicksilver MC $3000 6/2011 | Chase Amazon Visa $1400 8/2012 | Citi Diamond Preferred MC $4200 7/2013 | AMEX Green NPSL 8/2013 | Chase Freedom $1000 Visa 8/2013 | AMEX BCE $7000 2/2014 ==> 2/2013
Established Contributor
Posts: 909
Registered: ‎12-25-2010
0

Re: PiF vs carrying a balance


Shock_ wrote:

Burned2manybridgesB4 wrote:

Shock_ wrote:

Duely noted folks. I'm just a little irritated I only got $500 for a Freedom and got denied for a CLI via Alyssa at the Executive Office today...so hopefully the Freedom will grow without any hard pulls. Just looking for a loophole to make it grow faster! Thanks for responding everybody!


 

Just be patient. Sucks, but it'll pay off. I've never paid a cent of interest, but accounts aging, as well as usage made things grow.

I wonder if accounts aging and regular usage (a few hundred bucks PIF per month) will trigger CLI's


Certainly one of the things they take into account is your spending pattern, handling it responsibly definitely increases this possibility. Also did the EO give a specific reason as to why you were denied?


Starting Score: TU 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Frequent Contributor
Posts: 332
Registered: ‎08-07-2013
0

Re: PiF vs carrying a balance

[ Edited ]

JonStur wrote:

Certainly one of the things they take into account is your spending pattern, handling it responsibly definitely increases this possibility. Also did the EO give a specific reason as to why you were denied?


 

I can't remember off hand, but I know she gave me three reasons it could possibly be. She told me that I would be getting a letter so I'll wait for that.

 

IIRC, one was that they already gave me the max they could (total exposure I'm guessing) and another was too many accounts open or applied for with Chase (8/12 app instant approval for Chase Amazon, 12/12 app and denial for Freedom, no recon, 8/13 app and instant approval in bank for Freedom) and the third being not enough credit history. Will update once the letter comes..

Capital One Quicksilver MC $3000 6/2011 | Chase Amazon Visa $1400 8/2012 | Citi Diamond Preferred MC $4200 7/2013 | AMEX Green NPSL 8/2013 | Chase Freedom $1000 Visa 8/2013 | AMEX BCE $7000 2/2014 ==> 2/2013
Regular Contributor
Posts: 174
Registered: ‎08-26-2012
0

Re: PiF vs carrying a balance

Well this topic escalated quickly.......

CSP $5000, Chase Freedom Sig Visa $5000, United MileagePlus Sig Visa $5000, Capital One VentureOne Sig Visa $5000, Citi ThankYou Preferred Sig Visa $5000, Capital One Quick Silver MasterCard $4000, Amazon Store Card $4000, Citi Simplicity Visa $3000, Sallie Mae Mastercard $2000, Fidelity AMEX $2000, AMEX BCE $2000, AMEX Everyday $2000 Amazon Reward Visa $1800, Barclays Apple Visa $1700, Discover IT $1800, Suncoast FCU $1000, Target REDCard $300

Current Scores: EQ 701 (Fico), EX 707 (Fico) **In the Garden unti....forever.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.