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Frequent Contributor
revvystoke
Posts: 322
Registered: ‎02-02-2010
0

Which lender likes balances

I am planning a vaca in a few months. Probably be around 6k, can pay half of if as soon as it posts. Read that citi likes to have balances carried and rewards with cli's. not sure how BofA or chase will do.

I have no balances and my scores dropped as a result. I don't mind paying interest if it gives me a better chance for auto cli's.
AkAir $50k | CSP $35k | Marriott $32k |SPG $15k | Fidelity $10k | Credit Union $8k | Discover $8k

TU: 733 / EQ: 717 / EX: 733
Frequent Contributor
Laugh
Posts: 254
Registered: ‎12-29-2012
0

Re: Which lender likes balances

Discover
Cards: CSP 6k, Chase Freedom 6k, BCP 7.5k, Sallie Mae 8.9k, Discover 5k, BOFA Better Rewards 3.8k
Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
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Re: Which lender likes balances

I don't think you have much to worry. All lenders like balances, that's what revolving credit is for. What they don't like is when people drag on high balances for an extended period of time, especially when it's on on several cards. Even if you do have to drag on a high balance, pay at least 10-25% of whatever you owe each month and you should be fine.
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
armbenderc
Posts: 1,339
Registered: ‎09-11-2012
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Re: Which lender likes balances


Laugh wrote:
Discover

True, based on what I read here.

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Frequent Contributor
somnipotent
Posts: 367
Registered: ‎06-02-2008
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Re: Which lender likes balances

I have had no issues carrying a balance on my Chase cards or, believe it or not, my PRG using the extended pay option.  I had a 11k balance at one point and it took me about 4-5 months to pay it down (through BTs and paying muliple times a month).  This was prior to obtaining a revolving card with enough CLI to cover my vacation expenses.  YMMV though as others have claimed that Amex does not like people who carry balances.  I've never had a problem.


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
--
Homeowner since 05/29/13
Valued Contributor
armbenderc
Posts: 1,339
Registered: ‎09-11-2012
0

Re: Which lender likes balances


somnipotent wrote:

I have had no issues carrying a balance on my Chase cards or, believe it or not, my PRG using the extended pay option.  I had a 11k balance at one point and it took me about 4-5 months to pay it down (through BTs and paying muliple times a month).  This was prior to obtaining a revolving card with enough CLI to cover my vacation expenses.  YMMV though as others have claimed that Amex does not like people who carry balances.  I've never had a problem.


Well said, I too have the pay over time option and I am not afraid to use it at all. However, I have enough CL and income to NOT to pay 18% interest from the pay over time.

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Frequent Contributor
revvystoke
Posts: 322
Registered: ‎02-02-2010
0

Re: Which lender likes balances


armbenderc wrote:

Laugh wrote:
Discover

True, based on what I read here.


Coming up on my 4th year next statement with DSC, maybe I'll give them a call and see if I can do a BT and a SP cli same time. I hate how my score dropped after I paid off my debt, seems like it would be the other way around, but I guess its just part of the game. I will see what they can do for me next month and it will help me raise my score after they show util.

AkAir $50k | CSP $35k | Marriott $32k |SPG $15k | Fidelity $10k | Credit Union $8k | Discover $8k

TU: 733 / EQ: 717 / EX: 733
Regular Contributor
justforting
Posts: 176
Registered: ‎04-17-2013
0

Re: Which lender likes balances


armbenderc wrote:

Laugh wrote:
Discover

True, based on what I read here.


That's also what I know.

Last App: 09/17/2013 // No App Until: Mortgage (05/14?)

Cards in my wallet: AMEX BCE ($8000) // CITI AA VISA SIG ($5000) // CHASE FREEDOM ($3500) // DISCOVER IT ($1000) // CAP ONE NC ($1000) // WALMART DISCOVER ($1600)
Credit Scores: FICO TU08 (10/13): 739 // Credit Karma (10/13): 677??!! // Credit Sesame (10/13): 730
Next Goal: CSP (after mortgage probably...)
Frequent Contributor
oscar_actuary
Posts: 310
Registered: ‎03-25-2013
0

Re: Which lender likes balances

All of them like you to carry a balance on their card, while carrying $0 on other cards.

 

Glad to hear this rumour about Citi and CLI.  I'm paying 0% now and have 30%v Util.  Hope that counts toward some auto CLI love.

FICO EX 807, 2014 Nov. FICO TU08 800, 2014 Oct.

BofA Cash Rwrds Sig V 2013 10k; Fidelity Rewards AmEx /BofA 2013 15.4k; Chase Freedom Sig V 2002 24.1k; Chase Amazon Rwrds Sig V 2011 8k; Sam's Club MC 2002 10k; Dscvr It 2012 10k; Citi Dvdnd Plat Sel V 2013 8.9k; PenFed Plat Rwrds V 2013 20k; AmEx Blue Sky 2013 11.3k; AmEx BCP 2014 24.1k; Priceline Rwrds Sig V 2013 8.7k; PayPal Xtras GE Cap Plat MC 2012 5k


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