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BrokaToe
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Re: Does "High Balance" in my CR matters at all?

[ Edited ]

HiLine wrote:

BrokaToe wrote:

Edit: The thing I've noticed about BOA's reporting, is that the high balance is reported as the largest balance you had on the card at any one time, not just the highest reported balance. Not sure if this is the way it is on all creditors or not.


 

Easy enough to find out if you have cards from other creditors. Just saying :smileywink:


Yah, I guess that would be true if all creditors reported the high balance column. Plus not all creditors report exactly the same. Just saying :smileytongue:


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HiLine
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Re: Does "High Balance" in my CR matters at all?

All of mine do: BofA, Chase, Discover, Amex, Citi. And they all report high daily balances. :cattongue:

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BrokaToe
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Re: Does "High Balance" in my CR matters at all?


HiLine wrote:

All of mine do: BofA, Chase, Discover, Amex, Citi. And they all report high daily balances. :cattongue:


Not trying to be rude, but maybe you could explain exactly what the reply "Easy enough to find out if you have cards from other creditors. Just saying :smileywink:"  was supposed to imply? Maybe I took it wrong, sounded like a personal attack on my intelligence. If not, I stand corrected. Maybe I'm just getting old and don't understand the "Just saying" phrase, I hear the youngsters say it all the time, but I'm not as hip as I used to be. :smileyvery-happy:


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HiLine
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Re: Does "High Balance" in my CR matters at all?

I was suggesting that if you wanted to figure that out there would be a way, but if you didn't care then don't bother. I say that to my friends all the time, and it's intended to be a nerdy joke in response to a random, casual inquiry that may be serious or not :catwink:

 

- Wonder what the temperature in London is

- Easy enough to figure out. Just saying. 

 

- Wonder what Lindsay's up to

- Easy enough to figure out. Just saying.

 

Sorry if I conveyed the wrong message ...

 

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BrokaToe
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Re: Does "High Balance" in my CR matters at all?

Oh hey, no biggie, I was just trying to address the topic, but didn't want to pull reports from the bureaus to get exact detail on the ones I wasn't sure about. You see, score watch doesn't show highest balance information, or should I say my score watch does not. But the report given for TU quarterly monitoring does and I have a few accounts, mainly merchant accounts that do not list the high balance even on that report. So the only real way to determine that information is to get credit reports directly from the bureau, at least to the best of my knowledge.

 

For instance on Quarterly Monitoring, CAp1, BOA both show high balance, where as Buckle does not. Then on Score watch, none of my accounts show high balance. So it's really kind of hard to say without seeing complete reports from the bureaus. But if you say they all do, then I'll take your word for it. After all, we're trying to contribute accurate information on the topic. :smileyhappy:


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BrokaToe
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Re: Does "High Balance" in my CR matters at all?

Now this is interesting.  Looking at my score watch report, none of my revolving accounts show largest past balance, but the installment accounts do.  But on Quarterly Monitoring, all my accounts show largest past balance. Maybe they are reporting differently to different bureaus? Any take on that?


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HiLine
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Re: Does "High Balance" in my CR matters at all?


BrokaToe wrote:

Oh hey, no biggie, I was just trying to address the topic, but didn't want to pull reports from the bureaus to get exact detail on the ones I wasn't sure about. You see, score watch doesn't show highest balance information, or should I say my score watch does not. But the report given for TU quarterly monitoring does and I have a few accounts, mainly merchant accounts that do not list the high balance even on that report. So the only real way to determine that information is to get credit reports directly from the bureau, at least to the best of my knowledge.

 

For instance on Quarterly Monitoring, CAp1, BOA both show high balance, where as Buckle does not. Then on Score watch, none of my accounts show high balance. So it's really kind of hard to say without seeing complete reports from the bureaus. But if you say they all do, then I'll take your word for it. After all, we're trying to contribute accurate information on the topic. :smileyhappy:


That's a very interesting observation. I only looked at my Experian report from experian.com and Equifax report from equifax.com, and both reports reveal that all my creditors report high balances. On the other hand, like you said, Score Watch doesn't report high balances at all - not sure why, but this shows that reports from myFICO may not be as comprehensive as those obtained directly from the CRA's. 

 

I cannot say for sure if all creditors report the high balance, but I know that all mine do. Perhaps those that have official credit reports can relate their experiences with this. :smileyhappy:

 

Oh and btw, if you have applied for credit in the last 60 days you should be able to pull free reports in most cases. Not sure if this applies to you, but just an FYI. This is how I keep my reports up-to-date for free. :robotvery-happy:

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atarvuzdar
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Re: Does "High Balance" in my CR matters at all?


BrokaToe wrote:

Now this is interesting.  Looking at my score watch report, none of my revolving accounts show largest past balance, but the installment accounts do.  But on Quarterly Monitoring, all my accounts show largest past balance. Maybe they are reporting differently to different bureaus? Any take on that?


SW doesn't show that part of your credit report. Remember, myFICO is still a 3rd party that is disseminating only the information on our reports that it deems important to those of us who have signed up for the SW service--meaning, if you got your credit report directly from the source (in SW's case, that would be Equifax), you would have the highest balance information, as well as some other information that SW doesn't provide.

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YahComb
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Re: Does "High Balance" in my CR matters at all?


HiLine wrote:

All of mine do: BofA, Chase, Discover, Amex, Citi. And they all report high daily balances. :cattongue:


on what report do you have Discover reporting highest daily balance. i've only seen the highest statement balance reported so far-i've had mine one year. BOA Chase AMEX all have reported highest daily balance for me, but not discover.

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HiLine
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Re: Does "High Balance" in my CR matters at all?


YahComb wrote:

HiLine wrote:

All of mine do: BofA, Chase, Discover, Amex, Citi. And they all report high daily balances. :cattongue:


on what report do you have Discover reporting highest daily balance. i've only seen the highest statement balance reported so far-i've had mine one year. BOA Chase AMEX all have reported highest daily balance for me, but not discover.


Actually the highest daily balance is the same as the highest statement balance on my Discover, so I don't have a way to find out for sure. Perhaps you are right that Discover doesn't report the high daily balance.


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