Getting a little tired of playing the CC reporting game

[Anonymous]

I think many people on here try to manage the number of cards reporting a balance during their time on this board, but don't bother once they have achieved their goal. People are on here to repair their credit or to get help to reach a score (for a future loan). Thus, I believe once people achieve their credit need, they have no day to day need to have a 720 vice a 700 or a 780 vice a 750.

As Tim said, it is enough to know that if you do get to a point where you need a new major loan, you know how to raise your score 20-30 points within 6 weeks.

[smallfry]

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@haulingthescoreup wrote:

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@smallfry wrote:

Sounds like its time to apply for another card.

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Get thee behind me, Satan!

Nope, created enough of a mess that way. My average age is barely out of diapers as it is.

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You know you have problems when you hit the CLI button at Walmart.

[smallfry]

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@Anonymous wrote:

I think many people on here try to manage the number of cards reporting a balance during their time on this board, but don't bother once they have achieved their goal. People are on here to repair their credit or to get help to reach a score (for a future loan). Thus, I believe once people achieve their credit need, they have no day to day need to have a 720 vice a 700 or a 780 vice a 750.

As Tim said, it is enough to know that if you do get to a point where you need a new major loan, you know how to raise your score 20-30 points within 6 weeks.

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I rotate my cards religiously. I don't want any of those hard earned cards getting closed. I still remember getting denied at Pathmark on my old Cap One card for a bag of pretzels a couple of years ago.

[Anonymous]

Very true- I have several accounts with balances right now at 0%.

Carring small balances on

Kay

Wamu MC

Home Depot -defered

Sears -defered

Discover

Utl is still low -

My Blue cash and Simply Cash are still at 0% - but get PIF

I have $ in saving to pay these off anytime I want to- 

My CL are finaly to a point where I can pull this off without doing major FICO damage or upsetting creditors.

I have paid $1.11 in CC interest in the last 10 months.

So $ over FICO - with the ability to bump FICO at will- 

Not going to see a decent FICO boost until Sept anyways.

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debtisgood wrote:

I think many people on here try to manage the number of cards reporting a balance during their time on this board, but don't bother once they have achieved their goal. People are on here to repair their credit or to get help to reach a score (for a future loan). Thus, I believe once people achieve their credit need, they have no day to day need to have a 720 vice a 700 or a 780 vice a 750.

As Tim said, it is enough to know that if you do get to a point where you need a new major loan, you know how to raise your score 20-30 points within 6 weeks.

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[marty56]

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debtisgood wrote:

I believe once people achieve their credit need, they have no day to day need to have a 720 vice a 700 or a 780 vice a 750.

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Yes I did achieve my credit goal for a new car loan but its more than that for me.  Its about not falling back on old ways and showing some current and former people in my life that they were wrong about me.

To me its like a person who looses a bunch of weight and now is working out to keep it off.

[marty56]

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smallfry wrote:
I still remember getting denied at Pathmark on my old Cap One card for a bag of pretzels a couple of years ago.

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That brings back memories of my former credit self and I still cringe when I am a waiting in line at HEB and someones card is declined and see that look of panic on their face.  I never want to be that person in line again.

[Anonymous]

marty56 wrote:

That brings back memories of my former credit self and I still cringe when I am a waiting in line at HEB and someones card is declined and see that look of panic on their face.  I never want to be that person in line again.

Agreed, although I'm so on top of my credit these days that if one of my cards were declined, I wouldn't panic.  I'd be indignant. lol

[Anonymous]

I know that a lot of people rotate their cards in order to control the number of accounts with balances, but I'm not considering that.  To me, that's just as much of a hassle as paying off each card before the statement drops.

Instead, I'm going to pretend that I don't know anything at all about FICO.  I'm going to use my cards as I want to, in a way that is convenient for me and offers me the greatest return in the form of rewards.

When the statement cuts, the balance will be what it is.  I'm not going to concern myself with making sure no more than 5 of my 12 cards report a balance.  In fact, based on my normal usage, I fully expect about 10 out of 12 to be reporting a balance when I pull my scores in mid-August.

I just want to see how many points this is going to cost me, and decide from there whether it's worth even worrying about at all.

[smallfry]

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@Anonymous wrote:

I know that a lot of people rotate their cards in order to control the number of accounts with balances, but I'm not considering that. To me, that's just as much of a hassle as paying off each card before the statement drops.

Instead, I'm going to pretend that I don't know anything at all about FICO. I'm going to use my cards as I want to, in a way that is convenient for me and offers me the greatest return in the form of rewards.

When the statement cuts, the balance will be what it is. I'm not going to concern myself with making sure no more than 5 of my 12 cards report a balance. In fact, based on my normal usage, I fully expect about 10 out of 12 to be reporting a balance when I pull my scores in mid-August.

I just want to see how many points this is going to cost me, and decide from there whether it's worth even worrying about at all.

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Spoken like someone who has mucho available credit.

[Anonymous]

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smallfry wrote:

Spoken like someone who has mucho available credit.

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Nah, not that much, really.  My total available credit is 50% of my own income, and 27% of HHI.

I typically use about 11% of my overall available credit on a monthly basis, and PIF.

OK, yeah, I guess when I look at it that way, I do have plenty of available credit, LOL.  Never thought about it quite like that before.