Due to a couple of miscalculations, and life interventions, my total of reported balances accidentally went from a few hundred dollars (0% utilization) to $8900 (6% utilization). No other changes in report.
The good news is I now have a data point:
EX dropped 11 points, 695-->684
EQ dropped 8 points, 697-->689
Next month I'll probably be back to 0%.
Update 3/17/16 12:22 pm: Duh, it just occurred to me that the drop in points could also be attributable in part, or in whole, to the increased utilization on the 1 account that accounted for most of the money; that one went from 0% to 78%.
Number of tradelines with balances too, bunch of moving pieces and parts (well 3 anyway) when we're just talking revolving utilization.
@Revelate wrote:Number of tradelines with balances too, bunch of moving pieces and parts (well 3 anyway) when we're just talking revolving utilization.
That particular component didn't change significantly. It was 3 or 4 accounts out of 14 reporting, and now it's 3 out of 15 reporting.
@SouthJamaica wrote:
@Revelate wrote:Number of tradelines with balances too, bunch of moving pieces and parts (well 3 anyway) when we're just talking revolving utilization.
That particular component didn't change significantly. It was 3 or 4 accounts out of 14 reporting, and now it's 3 out of 15 reporting.
3 of 14 and 4/14 are across the likely breakpoint of 25%. Can't discount small number changes when it's a percentage calculation out of small numbers.
@SouthJamaica wrote:Due to a couple of miscalculations, and life interventions, my total of reported balances accidentally went from a few hundred dollars (0% utilization) to $8900 (6% utilization). No other changes in report.
The good news is I now have a data point:
EX dropped 11 points, 695-->684
EQ dropped 8 points, 697-->689
Next month I'll probably be back to 0%.
Update 3/17/16 12:22 pm: Duh, it just occurred to me that the drop in points could also be attributable in part, or in whole, to the increased utilization on the 1 account that accounted for most of the money; that one went from 0% to 78%.
Which card is the large amount on? How much? Where are the Venture and Discover cards in credit limit and utilization right now?
If you want to play a game, use the no-BT Fee offers of Venture and Discover to manage that balance down, tracking a high-utilization percentage as it crosses 50% on the way down.
@NRB525 wrote:
@SouthJamaica wrote:Due to a couple of miscalculations, and life interventions, my total of reported balances accidentally went from a few hundred dollars (0% utilization) to $8900 (6% utilization). No other changes in report.
The good news is I now have a data point:
EX dropped 11 points, 695-->684
EQ dropped 8 points, 697-->689
Next month I'll probably be back to 0%.
Update 3/17/16 12:22 pm: Duh, it just occurred to me that the drop in points could also be attributable in part, or in whole, to the increased utilization on the 1 account that accounted for most of the money; that one went from 0% to 78%.
Which card is the large amount on?
Alliant
How much?
7800/10000
Where are the Venture and Discover cards in credit limit and utilization right now?
0/20000 and 0/3200
If you want to play a game, use the no-BT Fee offers of Venture and Discover to manage that balance down, tracking a high-utilization percentage as it crosses 50% on the way down.
With or without BT's, I'm either going to play the game, drop the balance in steps, and continue checking data points, or I'm going to pay it off altogether (the latter is what I really feel like doing in my heart but my head tells me this is a chance to learn something). If I have the nerve to play the game, what percentage threshold would you be interested in seeing me cross? I was thinking if I play the game I'd go to 29%.
Thing is, if I play the game the way you suggest, I'll wind up paying interest, which is something I almost never do these days
(BTW I have other no-fee BT offers as well in my portfolio: Quicksilver, Penfed, Ring)
I have been trying to trigger score changes at 30% on individual cards, and it's just not working for me. This may be because I have one card over 30% still.
The big score move I saw last June was when all my cards went below 50% utilization on any one card. Now that all cards are below 50%, I can trigger a score change almost at will by moving the secured cards ($500 limt each) above and below 50%. That may change once Slate gets below 30%, the 30% threshhold may become more viable, but for now, I am not getting a noticeable change at 30%.
So, you could try 50% first, then see what passing 30% does for you. On that large a balance, though, yeah, the interest is going to be expensive. A better way to play is to pay the amount down, transfer using the Discover no-fee BT so it is something over 50%, then work that one down for a month. The timing of the reports becomes something of a concern, it takes a while for the scores to digest that movement.
@NRB525 wrote:I have been trying to trigger score changes at 30% on individual cards, and it's just not working for me. This may be because I have one card over 30% still.
The big score move I saw last June was when all my cards went below 50% utilization on any one card. Now that all cards are below 50%, I can trigger a score change almost at will by moving the secured cards ($500 limt each) above and below 50%. That may change once Slate gets below 30%, the 30% threshhold may become more viable, but for now, I am not getting a noticeable change at 30%.
So, you could try 50% first, then see what passing 30% does for you. On that large a balance, though, yeah, the interest is going to be expensive. A better way to play is to pay the amount down, transfer using the Discover no-fee BT so it is something over 50%, then work that one down for a month. The timing of the reports becomes something of a concern, it takes a while for the scores to digest that movement.
Probably I'll just pay it off.
