Reply
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: What is largest past balance?


Poorboi wrote:

$6.    but to someone looking to give me a loan they can see I used over 70% of my available credit, even though I paid it in full 


Sorry, but I'm not sure which question you were responding to.  $6 is what was on your bill?  What was listed in the "balance" field on your credit report?  Was that $6 or also $259?  I'm asking because "High Balance" isn't factored into utilization and isn't a big deal.  It seems like you are concerned with "High Balance" which is not something to worry about.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Regular Contributor
aplast
Posts: 150
Registered: ‎06-20-2012
0

Re: What is largest past balance?


Poorboi wrote:

$6.    but to someone looking to give me a loan they can see I used over 70% of my available credit, even though I paid it in full 


hey there - thought I would chime in. You know if youre worried about utilization on a 300 limit credit card.. use it a couple times a month for gas or to pay a phone bill. That way when the Creditor reports the information you might have 30-60 dollar balance instead of looking like youre maxing out every month. you might want to do this especially if your card issuer reports mid-month and not after the statement is cut. the last thing you want to do when re-building or building is look like you're overextending yourself on your given credit limits.

American Express Green - NPSL, Sams Club Discover - 4000, Paypal Smart Connect - 4000, Capital One - 3500, Barclaycard Visa - 2500, Walmart - 1500, Discover IT - 1000, Ashley Furniture Home Store - 1000, Care Credit - 1000.
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: What is largest past balance?

[ Edited ]

But at one time in the month you used $259 out of your $300 correct?

 

if you did the balance was reported then, and not after you paid even if it was on time. Some banks like to report mid month. Remember if they report you with a higher balance it drops your fico score due to utility and banks profit more. It's just shady ways banks like to mess with their customers. it's not ethical but business rarely is.

 

Personally with such a low credit limit unless you have big purchases coming up like a house or a car I wouldn't worry about balance reportings as long as you pay on time. When your ready to make a big purchase or to swap out sub prime cards for prime ones then pay it off for a month before, don't use it to ensure you get a low balance reporting then start drapping away. (drunk apping)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Contributor
Poorboi
Posts: 86
Registered: ‎06-02-2012
0

Re: What is largest past balance?

Ok, cool, thanks for all the info. I was just slowly trying to raise my scores

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: What is largest past balance?


Poorboi wrote:

Ok, cool, thanks for all the info. I was just slowly trying to raise my scores


that's good you asked a lot of questions which are nice, cause your trying to educate yourself on credit which is what I WISH i did when I did not understand, I only started learning at the age of 29 =\  (30 now) and i'm a self admitted addict to credit forums now lol, my posts are all from this month -_-;

 

I like learning new tricks about credit cards / credit law, but on the bright side it's kinda justified since I make extra cash on the side cleaning people's reports. I'm upto about 15 people so far getting them from 500-600's to 700+ Also fun fact a good credit score can be bought =x even if they tell you can not, you still can :smileyhappy:


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Contributor
Poorboi
Posts: 86
Registered: ‎06-02-2012
0

Re: What is largest past balance?

Thanks for all the info, I was just trying to raise my scores. My balance shows $6  but largest past due shows the $259 of $300 limit. It's been three months with no score increase 

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: What is largest past balance?


Poorboi wrote:

Thanks for all the info, I was just trying to raise my scores. My balance shows $6  but largest past due shows the $259 of $300 limit. It's been three months with no score increase 


credit scores increase on random, don't expect it to jump monthly, although with friends and family they can raise your credit like crazy if they make you an authorized user that's a fast track. Ever wonder how rich kids always have good credit? -_-; cause their parents added them as an AU when they were 12.... they got a 6 year head start credit report =\


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}