@SBR249wrote:
So I was just glancing over my EX CR today and noticed that my resolving accounts all report a "highest balance". Out of curiosity I checked what those are and I know for certain that some of the balances reported are much higher than any cut statement balance I've ever had (some even exceeded the CL for those accounts I had at the time). So does this "highest balance" reflect the highest amount of cumulative spend on any whole statement cycle regardless of the balance shown on the cut statement for that cycle?
Also does any underwriter or scoring algorithm actually take those highest balances into account when looking at CRs?
The highest balance for some card accounts is the highest statement balance. For other card accounts the highest balance is the greatest amount accumulated at any time during a monthly cycle - not necessarily end of cycle.
For example you could have a total of $5000 charged on a card and pay off $4000 before statement cuts. In this case your high balance is $5000 although your reported statement balance to the CRA is $1000.
Having a substantial high balance is typically not a negative - some look at it as beneficial. I tend to think of large high balances as positive as long as there are no late payments associated with it. If you always PIF the account each month that further suggests you have solid financial reserves.
Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
