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PiF vs carrying a balance

Valued Contributor

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) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Frequent Contributor

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

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

Re: PiF vs carrying a balance


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

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

Re: PiF vs carrying a balance


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
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Regular Contributor

Re: PiF vs carrying a balance

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

CSP $9500, CapitalOne VentureOne Sig Visa $8000 Chase Freedom Sig Visa $5000, Citi ThankYou Preferred Sig Visa $5000, Amazon Store Card $5000, Discover IT $4800, CapitalOne Quick Silver MasterCard $4000, Fidelity AMEX $4000, Sallie Mae Mastercard $3300, Hilton Honors Sig Visa $3300, Citi Double Cash $2700, SunTrust Cash Rewards $2500, Citi Simplicity Visa $2300, AMEX BCE $2000, AMEX Everyday $2000, AMEX Delta SkyMiles $2000, Amazon Reward Visa $1800, BP VIsa $1800, Barclays Apple Visa $1700, Suncoast FCU $1000, Target REDCard $900

Current Scores: EQ 727 (Fico), EX 735 (Fico) **In the Garden unti....forever.