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Established Contributor
snowkitty
Posts: 985
Registered: ‎09-10-2012
0

Re: balance?

@creditnocash I'm on my cell so I can't quote. So when we see the breakdown of payments and everything on our cr, the lender who does sp does not see all of that too?
TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

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Valued Contributor
creditnocash
Posts: 2,217
Registered: ‎07-23-2012
0

Re: balance?


snowkitty wrote:
@creditnocash I'm on my cell so I can't quote. So when we see the breakdown of payments and everything on our cr, the lender who does sp does not see all of that too?

if they soft pull they cannot see breakdown of payments 

hardpull: anything goes 

 

as i stated, i only saw a breakdown when i pulled the reports directly from the ca/

Current: Discover Fico 689 8/14 Walmart Fico 697 8/14

Inquiries (24 Months): EQ 6 TU 3 EX 4 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

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Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
0

Re: balance?


thom02099 wrote:

nicholasyud wrote:

creditnocash wrote:

it is and it isnt. 

if your not applying for anything then go for it. 

any points you would lose from util and another card reporting will go back as soon as you pif and they report the card. 


Someone please confirm this.

Let said both A & B had a same credit profile. Same credit score limit and etc.........

A always paid it in full and keep the balance utili under 9%.

B carry balance and make payment on time.

At 6 months mark, IF they both keep the Utili under 9%.

 

Will their score  increase the same at the 6 months mark even thou they using different method to manage their credit card payment.????


You said B carries a balance and makes payments on time versus A PIF and keeping util under 9%. 

I think it depends on several factors, there's no hard and fast answer. 

1 - If A is keeping Util under 9%, I think it depends what percentage rate, and for how long ( 6 months).  This could vary. 

2 - B carries a balance but makes payments on time.  But what is the size of the balance?  Couple hundred $$?  Several thousand $$?  That's going to be a factor also

3 - B may be making payments on time, but if only paying the minimum and not really reducing the overall balance, that may have an impact.

4 - You initially said that A and B had the same credit profile; same credit,same score, same limit, etc.  But they don't.  The fact that they pay differently is the diference in their profiles.So they are not identical.  And that could impact scores. ( At 6 months mark , will they credit file should be the same ??? )

 

And as creditnocash stated (correctly) if you're not applying for anything, then go for it!  Scores are going to go up and down.  The dings one takes are made up when the benefits of those dings are less of a factor and the benefit part kicks in.


As of my previos post:

Both A and B had the same identical credit file.

Example:

  • Husband and wife first came to america and app on their own card. ( maybe with 3 years credit history)
  • They start at X month but end at 6 months mark.
  • Using both different payment methods. ( they might have different payment and balance on those months but at 6 months mark they should be the same since they both keep util under 9% )
  • The resulf at 6 months mark should be the same ?
  • Do they score going to increase the same ???
  • Or the B person had better score since she keep her balance report under 9% all the time vs 6 months mark under 9% ?????

 

 

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Frequent Contributor
Imua
Posts: 291
Registered: ‎01-17-2009
0

Re: balance?


nicholasyud wrote:

thom02099 wrote:

nicholasyud wrote:

creditnocash wrote:

it is and it isnt. 

if your not applying for anything then go for it. 

any points you would lose from util and another card reporting will go back as soon as you pif and they report the card. 


Someone please confirm this.

Let said both A & B had a same credit profile. Same credit score limit and etc.........

A always paid it in full and keep the balance utili under 9%.

B carry balance and make payment on time.

At 6 months mark, IF they both keep the Utili under 9%.

 

Will their score  increase the same at the 6 months mark even thou they using different method to manage their credit card payment.????


You said B carries a balance and makes payments on time versus A PIF and keeping util under 9%. 

I think it depends on several factors, there's no hard and fast answer. 

1 - If A is keeping Util under 9%, I think it depends what percentage rate, and for how long ( 6 months).  This could vary. 

2 - B carries a balance but makes payments on time.  But what is the size of the balance?  Couple hundred $$?  Several thousand $$?  That's going to be a factor also

3 - B may be making payments on time, but if only paying the minimum and not really reducing the overall balance, that may have an impact.

4 - You initially said that A and B had the same credit profile; same credit,same score, same limit, etc.  But they don't.  The fact that they pay differently is the diference in their profiles.So they are not identical.  And that could impact scores. ( At 6 months mark , will they credit file should be the same ??? )

 

And as creditnocash stated (correctly) if you're not applying for anything, then go for it!  Scores are going to go up and down.  The dings one takes are made up when the benefits of those dings are less of a factor and the benefit part kicks in.


As of my previos post:

Both A and B had the same identical credit file.

Example:

  • Husband and wife first came to america and app on their own card. ( maybe with 3 years credit history)
  • They start at X month but end at 6 months mark.
  • Using both different payment methods. ( they might have different payment and balance on those months but at 6 months mark they should be the same since they both keep util under 9% )
  • The resulf at 6 months mark should be the same ?
  • Do they score going to increase the same ???
  • Or the B person had better score since she keep her balance report under 9% all the time vs 6 months mark under 9% ?????

 

 

 


FICO score is a snapshot in time, so if both had identical balances, CLs, util etc (not likely in real life, but in hypotheticalville it 'could' happen) at 6 months, both scores would be the same (in hypotheticalville)

sort of like a race, with a photofinish where both are truly tied at the (photo)finish line

if they both started out at exactly the same time out of the blocks, one might have run a steady pace throughout the race, while the other may have sprinted and then slowed down slightly so that during the race, one may have been ahead at some point (ie higher FICO)  and the other may have been ahead at other points in time (higher FICO than the other),  but at the finish, they cross the (photo)finish line at exactly the same moment.. (same FICOs). 

 

 

 

 


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Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
0

Re: balance?

[ Edited ]

 

 

 


FICO score is a snapshot in time, so if both had identical balances, CLs, util etc (not likely in real life, but in hypotheticalville it 'could' happen) at 6 months, both scores would be the same (in hypotheticalville)

sort of like a race, with a photofinish where both are truly tied at the (photo)finish line

if they both started out at exactly the same time out of the blocks, one might have run a steady pace throughout the race, while the other may have sprinted and then slowed down slightly so that during the race, one may have been ahead at some point (ie higher FICO)  and the other may have been ahead at other points in time (higher FICO than the other),  but at the finish, they cross the (photo)finish line at exactly the same moment.. (same FICOs). 


Thank you

This is the answer i was looking for........I want to carried some balance in the couple of months(without paying interest thou) but in the mean time i dont wanna lose any points ...............Hope my score should start back on in a near future for my morgate appps....

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Frequent Contributor
Imua
Posts: 291
Registered: ‎01-17-2009
0

Re: balance?


nicholasyud wrote:

 

 

 


FICO score is a snapshot in time, so if both had identical balances, CLs, util etc (not likely in real life, but in hypotheticalville it 'could' happen) at 6 months, both scores would be the same (in hypotheticalville)

sort of like a race, with a photofinish where both are truly tied at the (photo)finish line

if they both started out at exactly the same time out of the blocks, one might have run a steady pace throughout the race, while the other may have sprinted and then slowed down slightly so that during the race, one may have been ahead at some point (ie higher FICO)  and the other may have been ahead at other points in time (higher FICO than the other),  but at the finish, they cross the (photo)finish line at exactly the same moment.. (same FICOs). 


Thank you

This is the answer i was looking for........I want to carried some balance in the couple of months(without paying interest thou) but in the mean time i dont wanna lose any points ...............Hope my score should start back on in a near future for my morgate appps....

 


my scores dropped about 10-15 pts this summer when i had to carry a balance for 3 months (i.e. increase in utilization up to about 20%)

but my scores  popped back up in Sept (util was back to 'normal' for me, ~5-6%)


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Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787

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