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Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Utilization and payment history to increase credit score


Crashem wrote:

Wolf3 wrote:

Crashem wrote:
Wolf, creditors technically can see your payments etc. See some of the above posts. For sure, only the reported balance figures into fico scoring. However the historical payment data is accessible and could be used for other things such as credit line determination and approvals for all we know. Many credit card issuers have some custom models for approvals that use fico scoring as a starting point. I have definitely had lender comment on my spend levels during manual review as proof I could handle high cl.


If I pull a Credit Report it will show my latest payments for each account.  But it does not show a history of payments.   Are you saying the banks can see of history of payment amounts for all the accounts?


Yes. It is on your report too. The reason you can't see it is because the places to buy reports typically hide that data in their formatting. If you get the raw data directly from the bureaus (mailed copy, raw report from dispute, etc.), it is there. The online places to buy reports can cause problems. For example, I know someone who gets reports through freecreditreport.com(which us owned by experian)and they show no negatives and report looks great. But when they were initiating online dispute and saw they had two closed accounts that had a couple of late pays that was harming their report.

I usually pull my Free Annual Credit report online.     It does not show payment amounts per month, does the paper report show more?

 


 

Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Utilization and payment history to increase credit score

If you can get access to raw report, you can see it.  That is the "true" report.  Formatting by report sellers usually removes this data.  If you request the paper copy, you will get your raw report.

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Regular Contributor
Posts: 165
Registered: ‎08-13-2009
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Re: Utilization and payment history to increase credit score


Wolf3 wrote:

 

I usually pull my Free Annual Credit report online.     It does not show payment amounts per month, does the paper report show more?

 

 


I cannot say what it shows today but my Experian report from January pulled through the Free Annual Credit report site did contain payment into.

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Utilization and payment history to increase credit score

[ Edited ]

JaysonT wrote:

Wolf3 wrote:

 

I usually pull my Free Annual Credit report online.     It does not show payment amounts per month, does the paper report show more?

 

 


I cannot say what it shows today but my Experian report from January pulled through the Free Annual Credit report site did contain payment into.



I just looked at last Experian pulled online and it shows a balance history by month for several years.   It does not show any payment history.

Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Utilization and payment history to increase credit score

Just got my raw report from Experian and saw what was posted.  Under each credit card account, there is the following:

 

account balance / date payment received / scheduled payment amount / actual amount paid

 

Not every creditor reported every field for every month.  But most if not all had account balance, scheduled payment amount.  Other creditors had everything listed.

 

Here is an example:

account balance / date payment received / scheduled payment amount / actual amount paid

Mar 2010: $8 / March 2, 2010 / $8 / $4,955
Feb 2010: $2,855 / January 27, 2010 / $52 / $2,200
Jan 2009: $660 / January 9, 2010 / $48 / $9,925
Dec 2009: $10,513 / December 7, 2009 / $245 / $500
Nov 2009: $10,841 / November 5, 2009 / $248 / $500
Oct 2009: $11,204 / October 8, 2009 / $261 / $500
Sep 2009: $11,414 / September 1, 2009 / $259 / $500

 

There is also a line for high balance and credit limit by month.

 

Interestingly, it captured my AMEX Plat had a high limit of 35kish for a month where the reported balance was around 6kish.  So AMEX reported the most I owed that month at any time during the month.

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New Member
Posts: 5
Registered: ‎08-23-2012
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Re: Utilization and payment history

I put everything I can on credit cards (I use only one during the month, unless the other has a special 5% cash rewards on gas, or groceries, etc.). It's like getting between 1% and 5% off on EVERYTHING, even my utility bills! Of course I ALWAYS pay off the balance in full (and on time) every month. I pay between $500 and $1500 per month to do this. My "utilization" right before I pay my bill is probably about 10%; Just after I pay my bill it is zero. I use FREE credit whenever it is offered so I leave my money gathering interest for as long as possible. I just made the final payment (of $942.17) on a Best Buy FREE 3yr 'same as cash' account. If I had not made that final payment on time, "deferred interest" in excess of $1200 would have been added to my bill!! The last time I checked my credit score (2009), it was 916 and the two CAs that I consider legitimate and accurate, but Experion had it as 811; when I read their report I noticed they had not included everything. Maybe somethings report to everyone except Experion. I think it is hard to get a credit score from Experion now - and I think it should be illegal for Experion to withhold information from the person on whom they are collecting information.
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