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snookie wrote:however they MUST report to CRA because there has been activity on my account that month.
The Amex Gold is fabulous, I use it the most and rack points and convert them to Continental FF miles. For the first year I earn 2 points for every $1 spent, 1.5 points per $1 thereafter. I keep this card, Amex Blue, First Hawaiian gold visa and my FIA Fidelity Plat Visa in my wallet. I rarely use my CITI Dividends, Chase or Macy's.jizoe182 wrote:
That's pretty close to what I have. Only my util is higher. Way higher. I'm trying really hard to pay off the LOC I have. But everything else is good.
By the way, how do you like the Amex PIF Gold Card? How does it benefit you? Do you use it all the time? Is there a certain card that is always in your wallet?
@fused111 wrote:The Amex Gold is fabulous, I use it the most and rack points and convert them to Continental FF miles. For the first year I earn 2 points for every $1 spent, 1.5 points per $1 thereafter. I keep this card, Amex Blue, First Hawaiian gold visa and my FIA Fidelity Plat Visa in my wallet. I rarely use my CITI Dividends, Chase or Macy's.@Anonymous wrote:
That's pretty close to what I have. Only my util is higher. Way higher. I'm trying really hard to pay off the LOC I have. But everything else is good.
By the way, how do you like the Amex PIF Gold Card? How does it benefit you? Do you use it all the time? Is there a certain card that is always in your wallet?
@fused111 wrote:Pizza:I have read similar arguments at CB and CIC, but again I'm not buying it. The reason I have not hit 800 across the board is age and EX. Most of my accounts are less than 2 years old. Besides I will be dead before EX gives me a score over 775.
@Anonymous wrote:
i have interest in this topic too.
I have 3 installment loans and balances on 2-3 credit cards usually. Is this hurting me? my utilization is less then 1%. Does it really matter then that I have 5-6 accounts with balances?
I''m pretty sure it's all types
@Anonymous wrote:
@Anonymous wrote:
i have interest in this topic too.
I have 3 installment loans and balances on 2-3 credit cards usually. Is this hurting me? my utilization is less then 1%. Does it really matter then that I have 5-6 accounts with balances?
I'm not sure still if it is more than 4 of just revolving or if it included installments.
A)Here is something you can try. Put a balance on 5 credit cards, small like $1. See if score drops around 18 points.
B)If score does not drop then maybe installments are included. In that case with 3 installments, only carry a balance on 1 credit card. That would limit you to 4 balances.
I have a feeling it is specific to revolving, but since I had no installments I can not say until someone with installments repeats my test. I started with 3 cc balances open. Then I added another to make 4 balances. No change. I then added my 5th cc and score dropped 18 points. I paid off the other cc's I added (something around 1% utl or less)and score went up 18 points. I repeated this twice. Same effect.
It might be possible that this does not effect everyone, but we won't know that until other people try this experiment. It definitely effected my credit scores instantly.
Message Edited by ilovepizza on 08-14-2007 10:32 PM
@fused111 wrote:Too many accounts with balances = FICO scores of 792, 785, 734. I'm not buying what you're saying!