Reply
Established Contributor
Posts: 726
Registered: ‎05-12-2012
0

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:


border="0" align="left" width="450" height="90">
Blogger
Posts: 3,355
Registered: ‎10-19-2012
0

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:

Established Contributor
Posts: 726
Registered: ‎05-12-2012
0

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:


border="0" align="left" width="450" height="90">
Blogger
Posts: 3,355
Registered: ‎10-19-2012
0

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 ...

 

Established Contributor
Posts: 726
Registered: ‎05-12-2012
0

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:


border="0" align="left" width="450" height="90">
Established Contributor
Posts: 726
Registered: ‎05-12-2012
0

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?


border="0" align="left" width="450" height="90">
Blogger
Posts: 3,355
Registered: ‎10-19-2012
0

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:

Frequent Contributor
Posts: 375
Registered: ‎01-20-2012
0

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.

Current: EQ 673 September2013 / TU 696 September2013 (Walmart)
Start: EQ 584 Feb2012 / TU 629 July2012

Wallet: BofA Cash Rewards Visa Sig $5000 / Lowe's $6000 / JCP $3900 / eBay MC $3200 / Barclaycard Rewards $2000 / Walmart $3300 / CapOne NHRC $2000 / CapOne Platinum #1 $2000 / Amazon $1700 / Discover It $1000 / CapOne Platinum #2 (former Orchard) $750 / Amex Zync $500 Autopay
Established Contributor
Posts: 599
Registered: ‎03-10-2012
0

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.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Blogger
Posts: 3,355
Registered: ‎10-19-2012
0

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.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.