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thrasher865 wrote:
Well I got in some trouble with my car and had to take a payday advance loan from my discover card. I expected to pay it off before my statement date on the 18th, but I finally got through my creditsecure trial and updated my report and the balance is showing the full $1900 already.Can't wait til AMEX sees this! Brand new account with 60% util
FaircreditguyFL wrote:
People, people, people. Don't get worked up because a balance hit your account. It's not a bad thing. The main thing is to pay it off prior to the due date. You need to show you are using credit rather than just having it. In theory, what is the incentive of a creditor or report your history on a monthly basis if you pay your account off prior to they report to the CRAs. It cost money to report your balances to the CRAs. Rotate your cards every couple of months to keep them all reporting.
@Anonymous wrote:
@Anonymous wrote:
People, people, people. Don't get worked up because a balance hit your account. It's not a bad thing. The main thing is to pay it off prior to the due date. You need to show you are using credit rather than just having it. In theory, what is the incentive of a creditor or report your history on a monthly basis if you pay your account off prior to they report to the CRAs. It cost money to report your balances to the CRAs. Rotate your cards every couple of months to keep them all reporting.I agree in theory, but in this case the concern seems to be how Amex will react to 60% utilization on a brand new Discover account when the Amex itself is only one month old. It's a valid concern, IMO.Keeping my fingers crossed for you, thrasher! Amex didn't soft pull me at all until I had had my account for 2 months, and that one was only because I requested a CLI at that point. Maybe you will have the same experience I did, and they won't snoop around your reports until you get that Discover paid down.