Regular Contributor
Posts: 206
Registered: ‎12-20-2012
Re: Utilization Theories

I wonder sometimes if the companies would see the value in a cardholder racking up a large purchase and paying it down in a gradual, but more than the minimum payment, way. Or in other words, using credit as credit. 


An anecdote that I relayed in another thread but is relevant here:


My brother racked up 10k on his Amex when he was between jobs for a few months. He paid the amount off at maybe 4x the minimum payment each month until it was gone. This took him about 18 months. 8 months into it Amex let him know that they lowered his interest and raised his limit by 5k. He had never asked for these things. 

Starting Score: EXP 615 | TU 610 | EQ 635
Current Score: EXP 719 (lender pull 10/15) | TU 707 | EQ 700 (lender pull 10/25)
Goal Score: 740