Re: *! What am I doing wrong!*

NRB525 · ‎07-08-2015

@Anonymous wrote:
@tufa4311 wrote:
So the UTIL for ALL your cards is 0%?

Doesn't matter what you use but then pay before it gets reported, what is reported? What UTIL is reported for all your cards?
$0 gets reported and i've been reading that i need to have some balance report on all cards to also show usage on all of them. I will be letting balance show on all cards except the retail cards.

Quicksilver - $524 - Will pay off in two payments If that is necessary.
Venture - $2000 - Will pay off by october (hawaii trip) Ok
NFL - Maybe I can charge $50? This should be a regular spend item such as groceries or a tank of gas.
Arrival - will charge the $180 cell bill and let it carry over "Carry Over" sounds like you will pay interest. Just let it report on the statement, then pay $180 by the payment due date.
Quicksilver 1 - $25 - - Made a purchase two days before statement closes so will report Fine, and pay before payment due date.
Discover - $24 - Made a purchase two days before statement closes so will report Fine, and pay before payment due date.
CSP - Already going to report about $450 (main card) and statement closes on the 10th

If you are going from no cards reporting balances ( not sure I heard that correctly but I think that is the situation ) and then ALL these cards report balances, could be a shock to the score. I let all my cards report (a few have been drifting to zero recently, but will be back reporting soon) but I've been doing that for all my credit career. I, personally, don't have a problem with all my cards reporting, but others don't want all their cards to report. Some short term benefit can be had by letting fewer cards report, but one is the minimum you should let report. I let mine report because, well, why else would I have the card if I wasn't going to use it?

Good luck!

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎07-09-2015

Yeah, i had to explain ch7 when recon CSP...my wife lost her job during the bad economy, a few months after our son was born. There was no way to make it just on my income so we filed. We had a perfect credit history before that...i didnt want to do it but we had new cards, balances on our cards and child care. Anyways, thats done with and moving on.

Thanks for the advice..much appreciated.

Anonymous · ‎07-09-2015

@NRB525 wrote:
@Anonymous wrote:
@tufa4311 wrote:
So the UTIL for ALL your cards is 0%?

Doesn't matter what you use but then pay before it gets reported, what is reported? What UTIL is reported for all your cards?
$0 gets reported and i've been reading that i need to have some balance report on all cards to also show usage on all of them. I will be letting balance show on all cards except the retail cards.

Quicksilver - $524 - Will pay off in two payments If that is necessary.
Venture - $2000 - Will pay off by october (hawaii trip) Ok
NFL - Maybe I can charge $50? This should be a regular spend item such as groceries or a tank of gas.
Arrival - will charge the $180 cell bill and let it carry over "Carry Over" sounds like you will pay interest. Just let it report on the statement, then pay $180 by the payment due date.
Quicksilver 1 - $25 - - Made a purchase two days before statement closes so will report Fine, and pay before payment due date.
Discover - $24 - Made a purchase two days before statement closes so will report Fine, and pay before payment due date.
CSP - Already going to report about $450 (main card) and statement closes on the 10th
If you are going from no cards reporting balances ( not sure I heard that correctly but I think that is the situation ) and then ALL these cards report balances, could be a shock to the score. I let all my cards report (a few have been drifting to zero recently, but will be back reporting soon) but I've been doing that for all my credit career. I, personally, don't have a problem with all my cards reporting, but others don't want all their cards to report. Some short term benefit can be had by letting fewer cards report, but one is the minimum you should let report. I let mine report because, well, why else would I have the card if I wasn't going to use it?

Good luck!

True and the banks make their money off interest...i'll stay conservative with low balances and test that.

! What am I doing wrong!