topic Allowing Balance to Report in Credit Cards

Allowing Balance to Report

Anonymous — Fri, 27 Mar 2015 05:08:02 GMT

I currently have a $100 balance on my Kohl's card ($300 limit) that I planned on paying off this weekend. Is there any benefit to letting the balance report? Chance of higher (or any) cl increases?

Re: Allowing Balance to Report

racer-x — Fri, 27 Mar 2015 10:44:01 GMT

@Anonymous wrote:
I currently have a $100 balance on my Kohl's card ($300 limit) that I planned on paying off this weekend. Is there any benefit to letting the balance report? Chance of higher (or any) cl increases?

No benefit. Unless you want youur score to drop, I'd pay it off before statement cuts.

Do you have other cards reporting a balance? "They" say let 1 card report a balance under 9%.

I ask for CLI's whether I have a balance reporting or not. I haven't seen it to be a factor for me in getting CLI's.

Re: Allowing Balance to Report

lg8302ch — Fri, 27 Mar 2015 10:58:50 GMT

@Anonymous wrote:
I currently have a $100 balance on my Kohl's card ($300 limit) that I planned on paying off this weekend. Is there any benefit to letting the balance report? Chance of higher (or any) cl increases?

Maybe it was a coincidence but once I let the balance report on my cards CLIs with Discover and Cap1 started to work. I was not doing it for this purpose but simply because I found it too annoying to micro manage my accounts. Yes I also do try to manipulate my scores by 0 balance reporting on all but 1 account but just before an app. If you do not need to apply for anything there is also no harm if your scores are not in best possible shape. What you can do is let it report with the balance now and if you have a Fico product that will show the impact on your scores take it as an educational experience. Fico has no memory and as soon as the balance is paid down goes right up again.