New Contributor
Posts: 71
Registered: ‎02-21-2012

Reporting Spending habits

Not sure if this has been posted or not but this is interesting for those of us that pay our cc's off every month.
Starting Score: TU: 641 EQ: 626 EX: 641
Current Score My FIco Pulls :TU: 659 EQ: 650 EX: 657
Creditor Pulls: TU 613
Goal Score: 750s Across the Board

Started this gardening thing on 12/4/13.
Posts: 10,396
Registered: ‎12-30-2011

Re: Reporting Spending habits

Experian was doing that nearly 2 years ago; I think EQ followed suit sometime this past year.  Not certain about TU, but this is a win for lenders and for those of us which pay our CC's every month.  Even a win for people who PIF after the statement date.  


Really it's a good thing for everyone I think from an underwriting perspective: if you're behaving well and using the cards for short-term debt regardless of FICO's calculation on instant-in-time utilization, that'll show up in this data vs. someone who is pyramiding debt or whatever the FOTM term is from the lender's perspective.  Should reduce some of the false positives people have reported on this forum from Penfed and other lenders when it comes to approval decisions on various credit products, and reduce some of the flak people have had with slashed limits when they've been PIFing every month even on large balances.


Also is somewhat an extra bonus for those of us who high-balance set: have an 11K charge on my Zync this month which I'm just going to let report, and then kick it to the curb after it posts.  Probably will do the same on my BCP for that matter too the following month on when I square up 2008 with the IRS, don't have a card with useful enough limits besides those two to push that out more, but establishing the pattern can help possibly acquire higher limits in the future when requested.  Citi may hate me forever based on the data my report will show, but they're not a lender I'm chasing so w/e.


Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 683, EQ 8 690, TU 710, EX 715 (01/01/15)
Goal Score: 700 on EQ 04 (01/01/16)

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