Cap1 finally reporting (EX so far) + question

Duncanrr · ‎07-27-2012

I just pulled my daily EX report from their site and Cap1 is finally reporting (I gained 4 points from it reporting 657 to 661). It is showing both Jun and July payments. It isnt listed as secured. It will probably take EQ and TU a little while to report but at least this is FINALLY starting to show up on reports.

Question: does High Balance have anything to do with credit scoring? Im pushing as much as I can through card and then paying off. My high balance is close to my current credit limit. Is this a problem?

Thanks,

Duncan

Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750
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dobirdsmommy · ‎07-27-2012

I would love the answer to this as well as I have never been able to find a definitive answer.

building since 2011 Wallet:ME: Walmart 3k;Barclays Rewards 10k, Venture 18k; Slate 5k; Freedom 10k; overstock 4.8k, SGV2.5k; WEMC 20k 1.5 Rewards, Gamestop 1.2k, Fingerhut 3k; 2 NMAC Leases , VS 1.75k, BH 1.62k, Express 1.6k, Avenue 1.75k, JCrew 5k, HSN 1.47k, Torrid 1.55k, Roamans 1.4k, Jessica London 1.54k, kings direct 1.7k, Buckle 1.4k, WW 1.65k, ........ baddies:Fed Tax Lien
DH: 1750 capital one fh 2000, AU - VS, BH, HSN, WEMC, SPGV. Freedom, Slate, Venture, Barclays

tylaw13 · ‎07-27-2012

@Duncanrr wrote:
I just pulled my daily EX report from their site and Cap1 is finally reporting (I gained 4 points from it reporting 657 to 661). It is showing both Jun and July payments. It isnt listed as secured. It will probably take EQ and TU a little while to report but at least this is FINALLY starting to show up on reports.

Question: does High Balance have anything to do with credit scoring? Im pushing as much as I can through card and then paying off. My high balance is close to my current credit limit. Is this a problem?

Thanks,

Duncan

Having a high balance when the statement cuts is bad. When you max out your CC your Utilization % goes up and thats something like 30% of your score which is big. What you should do is a couple days before your statement cuts pay down the CC to 0 or below 10% of your CL. That is the optimal Utilization % for fico scoring.

EQ FICO - 725 (9/11/13) TU FICO - 724 (6/27/13) EX FICO (6/30/13) 755 AMEX
Im my wallet - Cap1 Platinum MC(2000) Chase Freedom(1500) AMEX BCE (7000) Discover IT (8000) CSP (15000) Cal Coast CU (8000)

LondonMassey · ‎07-27-2012

You can max it out and pay it off 100 times a month but if you let only 9% or less report, as in pay it down before the statement cuts, you will get the best boost in score. Also, it won't report as secured on your credit reports. It's a Cap1 cc and that's how it will show.

Cap1(sc) 550, Cap1 750, Walmart 750, Home Depot 3000, Amazon 700, US Bank 1500, Childrens Place 1100, JC Penney 700, Old Navy 700, PayPal 700, Torrid 700, Lane Bryant 150, Avenue 500, OSP 500, Amex Blue 2000, Disc it 1000, Walmart Disc 2200, Old Navy Visa 1700, Mortgage 09-2012, Car Loan 03-2013

Current Score: EQ 665 EX 687 TU 695

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Duncanrr · ‎07-27-2012

Just so everyone is clear what I'm asking, I'm talking about high balance not ending balance. Ending balance is what is used to calculate utilization. My ending balance was zero. My high balance is use to limit as I used card almost up to limit and then PIF before statement cut.

Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750
Take the FICO Fitness Challenge