topic Re: All Balances to $0 in Credit Cards

All Balances to $0

Anonymous — Fri, 03 Jan 2014 02:34:23 GMT

I have two CC with NFCU, 10K and 5K

Macys 1.5K

AAoA - Macys 2yrs+, NFCU 1yr+

All are going to be paid off tomorrow(total owe is less than $500). Never a late payment, all my bills and mortgage on time. Not going to use cards at all.

By february my score should improve yes? EQ 686 now.

I'm also planning on pulling my annual credit report in Feb.

Need 700+ to get an AMEX Plat and BCP/E yes?

Also, am I aiming too high for a CSP, Merrill+ ?

Re: All Balances to $0

Anonymous — Fri, 03 Jan 2014 02:40:19 GMT

Your overall utilization is already low, so whether you'd see an improvement might depend on whether you're carrying small balances on all the cards.

Re: All Balances to $0

Anonymous — Fri, 03 Jan 2014 02:41:30 GMT

@Anonymous wrote:
I have two CC with NFCU, 10K and 5K
Macys 1.5K
AAoA - Macys 2yrs+, NFCU 1yr+

All are going to be paid off tomorrow(total owe is less than $500). Never a late payment, all my bills and mortgage on time. Not going to use cards at all.
By february my score should improve yes? EQ 686 now.
I'm also planning on pulling my annual credit report in Feb.

Need 700+ to get an AMEX Plat and BCP/E yes?
Also, am I aiming too high for a CSP, Merrill+ ?

For the best score, let one of those report a balance of 9% or less.. then zero out all of the others.

Re: All Balances to $0

Anonymous — Fri, 03 Jan 2014 03:06:03 GMT

Yep, have one of your cards report even $1, it will round up to 1% utilization. All my cards reported 0's in Dec and my scores dropped 7 points when my balance carrying card reported 0 instead of the $40 reported on the statement.

Re: All Balances to $0

baller4life — Fri, 03 Jan 2014 03:29:44 GMT

@Anonymous wrote:
@Anonymous wrote:
I have two CC with NFCU, 10K and 5K
Macys 1.5K
AAoA - Macys 2yrs+, NFCU 1yr+

All are going to be paid off tomorrow(total owe is less than $500). Never a late payment, all my bills and mortgage on time. Not going to use cards at all.
By february my score should improve yes? EQ 686 now.
I'm also planning on pulling my annual credit report in Feb.

Need 700+ to get an AMEX Plat and BCP/E yes?
Also, am I aiming too high for a CSP, Merrill+ ?
For the best score, let one of those report a balance of 9% or less.. then zero out all of the others.