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Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: credit monitoring/scores

FACT: The CRA's uses a system of codes that we do not see.

Unconfirmed: I have read that these codes reflect whether a minimum payment has been made or more. Also if PIF.

Opinion: I would imagine these codes could also be noted with each $0 bal showing in activity. While it looks to us as no activity, it could be on the CR $0-PIF or $0-NoActivity... ect. I just made up the "-xxx" but something like that.

Opinion: I would think a PIF shows a stronger financial position than carrying a balance on revolving debt. I can't think of a reason why a balance would be better than PIF on revolving unless there is no history of payment codes and this was the only way to show payment data.

Question: Can anyone confirm or deny?
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: credit monitoring/scores

[ Edited ]
Interesting. I'll be right back.

I can't say if my sources at EQ and TU are remotely knowledgeable but they were able to find codes for my file, however not able to find a code for payment history. EX does keep records of payments. For this to work all 3 would have to keep codes for payment activity.

Could it possibly be any time a lender reports paid on time, even if no activity, that FICO generates the same exact score? Carrying a balance would only matter if it were recorded beyond most recent and present balance. I can not find proof that balances are recorded past 2 cycles. And I can not find proof that they are not either. Mystery. However it would seem that it was not kept in history for TU and EQ. I am going to further this investigation. It would be nice if a FA employee on scoring team can confirm as FACT either way. If your CC is reporting paid on time "every month" using it even once every 6 months might just generate the same FICO score.

I use all cards to force activity to report paid on time. Some of my cards don't report at all if no charges are made. So I just place 1 charge on a card and PIF to force a CRA update. More green squares is better for score.

I like to know why something works. Then I like to also find out why something did not work. In this case we know scores go up even if you don't use the card if it reports monthly. High credit limit might play a part too to show usage.

Message Edited by ilovepizza on 08-13-2007 12:34 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: credit monitoring/scores

Perhaps keeping a balance on a card is another way to force the lender to report monthly with out the need to keep generating new charges. They both force updates. They both trigger the same exact effect. However the BIG question I have now is, if a lender is already reporting monthly paid on time, do you even need to use the card?

The only code I was able to find in payment history was "Paid on time" all others were negative codes. I am looking for something behind the scenes that only the FICO score might see. So far nothing.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: credit monitoring/scores

I wonder if it is worth disputing all the blank areas where no paid in full is missing? If one even can dispute that?
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: credit monitoring/scores

Activity how ever you want to generate it. What ever it take to show up monthly as paid on time.

From EQ.

Use your new accounts in moderation.
And make payments that are more than the minimum. You can keep a small balance so that your positive payment history will continue to show up on your credit report.

Link
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: credit monitoring/scores

Since some credit cards report "paid on time" even when used it would seem best to use "all" credit cards and PIF to keep reported balances at $0. This way you are forcing activity on all cards and keeping "balances" down to less than 4 accounts. Besides leaving a little for UTL on 1-4 cards. Some lenders report no matter what, so there is evidence now to show that might be all that counts and no activity is still gaining you points.

I would guess blanks are bad too. While you are not loosing, you are not gaining.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
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Re: credit monitoring/scores



ilovepizza wrote:
Since some credit cards report "paid on time" even when used it would seem best to use "all" credit cards and PIF to keep reported balances at $0. This way you are forcing activity on all cards and keeping "balances" down to less than 4 accounts. Besides leaving a little for UTL on 1-4 cards. Some lenders report no matter what, so there is evidence now to show that might be all that counts and no activity is still gaining you points.

I would guess blanks are bad too. While you are not loosing, you are not gaining.


All my accounts report whether I use them or not. I have a 6th Avenue account through GEMB that was paid off in two months (January) and it still reports every month as pays as agreed.
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: credit monitoring/scores

[ Edited ]
I have found reports and scores between 830 to 836 and almost none of them carried balances. However their credit reports showed paid in full each month when there was no activity for all cards with out balances many months at a time. I spent an hour researching this today and ran out of time. If anyone else can find facts please post here. Has anyone seen an EX CR from an 840+? That might help answer this question.

Message Edited by ilovepizza on 08-13-2007 01:34 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
0

Re: credit monitoring/scores



ilovepizza wrote:
I have found reports and scores between 830 to 836 and almost none of them carried balances. However their credit reports showed paid in full each month when there was no activity for all cards with out balances many months at a time. I spent an hour researching this today and ran out of time. If anyone else can find facts please post here. Has anyone seen an EX CR from an 840+? That might help answer this question.

Message Edited by ilovepizza on 08-13-2007 01:34 PM


I saw this post over at creditboards last week and the poster included his report. I'm not sure which one it was but I will look for it. Time seems to be the greatest ally in the pursuit of high scores. I've seen some mighty high scores with few open tradelines and very little activity sometimes none for months at a time. Utilization under 1% seemed to be a common theme.
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
0

Re: credit monitoring/scores



ilovepizza wrote:
I have found reports and scores between 830 to 836 and almost none of them carried balances. However their credit reports showed paid in full each month when there was no activity for all cards with out balances many months at a time. I spent an hour researching this today and ran out of time. If anyone else can find facts please post here. Has anyone seen an EX CR from an 840+? That might help answer this question.

Message Edited by ilovepizza on 08-13-2007 01:34 PM


Don't know if this will cut and paste but you can search the members at CB for insult comic dog and find his EX report with a 835 score. http://creditboards.com/forums/index.php?showtopic=169395
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