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Valued Contributor
red259
Posts: 2,096
Registered: ‎06-05-2013
0

Showing a high balance on CR

Is there any reason or benefit to show an extremely high balance on a card on a CR? Meaning let a high balance report to the CRA but then PIF before payment due date. I was wondering if doing this one time on a card would show ability to handle large balances and pay off in a short period of time.


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14
Goal Score: 800 In garden until 1/2015
Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Showing a high balance on CR

It's good to let large balances post to show usage. I intentionally let different cards report high balances at different times just to show usage. They will be more inclined to give out CLI that way it seems
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Contributor
red259
Posts: 2,096
Registered: ‎06-05-2013
0

Re: Showing a high balance on CR


enharu wrote:
It's good to let large balances post to show usage. I intentionally let different cards report high balances at different times just to show usage. They will be more inclined to give out CLI that way it seems

Who will be more inclined to give out a CLI in that situation? The company with the high balance showing or other CC companies as well?


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14
Goal Score: 800 In garden until 1/2015
Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Showing a high balance on CR


red259 wrote:

enharu wrote:
It's good to let large balances post to show usage. I intentionally let different cards report high balances at different times just to show usage. They will be more inclined to give out CLI that way it seems

Who will be more inclined to give out a CLI in that situation? The company with the high balance showing or other CC companies as well?


I wouldn't ask for any CLI when there is a high balance currently reported on any of the cards.

What I do is I rotate around different cards and let them report a high balance at least once, just to show usage. I wouldn't recommend letting all cards report high balances all at once, because it might spook off certain lenders when you report >90% overall utilization. 

For example I charged around 7.5k on my Arrival, waited for statement to cut to reflect that amount, paid it off, and then forgot about it since the rewards structure is somewhat lackluster.

 

For the cards that you want CLI on, try to use it as much as you can. My CSP is now my primary card and I've gotten one auto CLI from Chase although the account is opened for only almost 4 months. 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

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