topic Re: Conscientiousness in General Credit Topics

Conscientiousness

Gunnar419 — Thu, 26 Mar 2015 23:30:56 GMT

Do you keep a low utilization and still find yourself fretting like hell about your balances?

I do. Right now I'm a 6% utilization over 3 out of 6 cards and I feel as if mental Mafia kneecappers are going to come after me if I don't cut that in half and get down to one card ASAP. I feel derelict in my duties, overburdened with debt, and as if I'm not living up to the MyFico Creed.

This doesn't feel good. It's a giant PITA, but it keeps me honest. Because I feel like this I could never, except in the most dire circumstances, max out my cards or default or anything like that.

Yet it's clear that millions of people max their cards all the time without a second thought. Or not pay their bills just because. Maybe after years of that they'll come wandering in here wondering what to do, but they can go that long without giving themselves a nervous breakdown.

I'm glad I'm me but I envy them sometimes, just as I envy somebody who could make a lifestyle out of surfing or take a manana (sorry; needs a ~) attitude toward fixing up their home.

I'm wondering about you guys who always stick with the <9%, one card rule (or try to). Are you like me? Do you worry it to death? Or have you just set up such automatic routines that you're confident you don't even have to worry about high util again?

If you worry it to death, is that worry a big factor in "keeping you honest" and on track?

Re: Conscientiousness

Gunnar419 — Thu, 26 Mar 2015 23:35:07 GMT

I should add that I'm not talking about people who get into credit trouble because of major health or financial problems then just can't face the effort of getting back on track. I'm talking about people who genuinely aren't bothered by maxed cards and late payments, and how we other types differ from them.

Re: Conscientiousness

MarineVietVet — Thu, 26 Mar 2015 23:39:53 GMT

@Gunnar419 wrote:
Do you keep a low utilization and still find yourself fretting like hell about your balances?

I do. Right now I'm a 6% utilization over 3 out of 6 cards and I feel as if mental Mafia kneecappers are going to come after me if I don't cut that in half and get down to one card ASAP. I feel derelict in my duties, overburdened with debt, and as if I'm not living up to the MyFico Creed.

This doesn't feel good. It's a giant PITA, but it keeps me honest. Because I feel like this I could never, except in the most dire circumstances, max out my cards or default or anything like that.

Yet it's clear that millions of people max their cards all the time without a second thought. Or not pay their bills just because. Maybe after years of that they'll come wandering in here wondering what to do, but they can go that long without giving themselves a nervous breakdown.

I'm glad I'm me but I envy them sometimes, just as I envy somebody who could make a lifestyle out of surfing or take a manana (sorry; needs a ~) attitude toward fixing up their home.

I'm wondering about you guys who always stick with the <9%, one card rule (or try to). Are you like me? Do you worry it to death? Or have you just set up such automatic routines that you're confident you don't even have to worry about high util again?

If you worry it to death, is that worry a big factor in "keeping you honest" and on track?

Personally I don't find it a pain or struggle or worry to keep my utilization low.

I've done it for so long it's become second nature and I do it without thinking about it.

Re: Conscientiousness

RaiseMyScoreASAP — Thu, 26 Mar 2015 23:46:17 GMT

I pull a new report daily from all three bureaus. (I have the monitoring services on all three.) That coupled with the FICO score watch on here makes knowledge my friend. I am able to see each day the impact of matters on my credit. That keeps me going and motivated. Keeping utilization low is within your control. That and your payment history are the keys. Paying your bills on time is only half the picture. You have to maniplute your balances and know the reporting dates.

Re: Conscientiousness

Gunnar419 — Thu, 26 Mar 2015 23:51:45 GMT

@RaiseMyScoreASAP wrote:
I pull a new report daily from all three bureaus. (I have the monitoring services on all three.) That coupled with the FICO score watch on here makes knowledge my friend. I am able to see each day the impact of matters on my credit. That keeps me going and motivated. Keeping utilization low is within your control. That and your payment history are the keys. Paying your bills on time is only half the picture. You have to maniplute your balances and know the reporting dates.

LOL, but you see I do all that. That's exactly what I'm talking about. I watch my credit as if it were my child at a strange playground. I'm wondering if a lot of other low util people do that.

I envy MarineVietVet for having gone past that stage!

Re: Conscientiousness

Anonymous — Fri, 27 Mar 2015 00:19:56 GMT

Newbie here! Long story short.... my husband and I had an absolute awful several years. Loss of a house and business, than he got sick. ..2 hospital stays, multiple surgeries.
About a year and a half ago. ..l pulled up my big girl pants and faced the music.
Since than I have moved or scores from the low 5's to high 6's. My Fico and everyone's help has been very educating and eye opening. .......
I watch my scores and reports ever day. I also watch every credit card account as well. I have mastered my payment dates as well as reporting days. Never carry over a balance, allow one card to post my ideal 7-9% utilization. .....
Once we get to my goal scores of high 7, I feel like I'll relax a little. ....maybe.
I understand completely.....

Re: Conscientiousness

Anonymous — Fri, 27 Mar 2015 00:23:44 GMT

One month the cc reported $10 more than the previous month. ...our scores dropped a few points.
A total Mafia Kneecapper kinda day.

Re: Conscientiousness

Gunnar419 — Fri, 27 Mar 2015 00:25:49 GMT

@Anonymous wrote:
Newbie here! Long story short.... my husband and I had an absolute awful several years. Loss of a house and business, than he got sick. ..2 hospital stays, multiple surgeries.
About a year and a half ago. ..l pulled up my big girl pants and faced the music.
Since than I have moved or scores from the low 5's to high 6's. My Fico and everyone's help has been very educating and eye opening. .......
I watch my scores and reports ever day. I also watch every credit card account as well. I have mastered my payment dates as well as reporting days. Never carry over a balance, allow one card to post my ideal 7-9% utilization. .....
Once we get to my goal scores of high 7, I feel like I'll relax a little. ....maybe.
I understand completely.....

Tallulah, GOOD GOING for grabbing the big girl pants after going through all that. You'll definitely deserve to relax when you get those scores into the high 700s. Nice determination.

I have to tell you, though, that once upon a time I thought I'd relax if I got my scores past 760. Nope. Now they're all over 800 and I fret that they'll drop to 799! (And don't everybody tell me that's a stupid worry. I KNOW it's a stupid worry. But it's MY stupid worry and I love it even if it's dumb as a boulder.)

You'll make it. Relax when you do.

Re: Conscientiousness

Gunnar419 — Fri, 27 Mar 2015 00:26:41 GMT

@Anonymous wrote:
One month the cc reported $10 more than the previous month. ...our scores dropped a few points.
A total Mafia Kneecapper kinda day.

Oh, you DO understand. You really do.

Re: Conscientiousness

Anonymous — Fri, 27 Mar 2015 00:32:12 GMT

I'll relax when I can walk into the bank, throw my feet on the desk, and ask them what THEY can do for me. Than leave with their ficus plant. ......BAM.
I love my goals and the crazy rituals of watching our credit reports and cards...lol
(Total commercial plug)

Re: Conscientiousness

Anonymous — Fri, 27 Mar 2015 01:20:31 GMT

Hey, I was just wondering if anyone could direct me to information about when it is best to PIF. I know that it has a relationship to Statement date and Payment Due date but I don't know what it is. Thanks in advance!!!!!!

Re: Conscientiousness

jbsea — Fri, 27 Mar 2015 03:43:24 GMT

It's funny that you bring this up. I had decided that i'm not apping for anything and i'm not going to micro manage my utl. Well I cant help but look at my accounts everyday. I already know every due date and statement date. I cant stop myself from paying everything before the statement date. It stresses me out to think that I might leave a real balance. I do like the new me better then the old me but it would be nice to just make a payment and not think about it again. These forms are going to be the death of me.

Re: Conscientiousness

Anonymous — Sat, 28 Mar 2015 00:07:49 GMT

@Anonymous wrote:
Hey, I was just wondering if anyone could direct me to information about when it is best to PIF. I know that it has a relationship to Statement date and Payment Due date but I don't know what it is. Thanks in advance!!!!!!

I doubt anyone on here really knows. It varies a lot.

I always paid my balances usually a week or two before the due date and sometimes a day or two before. I rarely paid anything before the statement date. Before the February app spree (10 cards) my scores were EQ-819 TU-818 EX- 806. Considering what happened to my AAoA and inquiries I'm surprised they didn't drop more than they did. TU even went up.

Re: Conscientiousness

Anonymous — Sat, 28 Mar 2015 02:52:32 GMT

Thanks, Omne, for the great info!!

Re: Conscientiousness

Anonymous — Mon, 30 Mar 2015 05:45:23 GMT

@Anonymous wrote:
Newbie here! Long story short.... my husband and I had an absolute awful several years. Loss of a house and business, than he got sick. ..2 hospital stays, multiple surgeries.
About a year and a half ago. ..l pulled up my big girl pants and faced the music.
Since than I have moved or scores from the low 5's to high 6's. My Fico and everyone's help has been very educating and eye opening. .......
I watch my scores and reports ever day. I also watch every credit card account as well. I have mastered my payment dates as well as reporting days. Never carry over a balance, allow one card to post my ideal 7-9% utilization. .....
Once we get to my goal scores of high 7, I feel like I'll relax a little. ....maybe.
I understand completely.....

C O N G R A T U L A T I O N S Tallulah2014 on your success story!!! I'm happy that your hubby is doing better and that you took control of your finances. I like to use the phrase, "Put your big girl panties on!" Keep up the good work!!!

Re: Conscientiousness

takeshi74 — Mon, 30 Mar 2015 12:33:08 GMT

@Gunnar419 wrote:
Do you keep a low utilization and still find yourself fretting like hell about your balances?

@Gunnar419 wrote:
Because I feel like this I could never, except in the most dire circumstances, max out my cards or default or anything like that.

I keep an eye on them but I don't "fret like hell" over them. Knowing the impact of utilization and having been balance chased for prologned high utilization is sufficient enough for me to keep my utilization low. One can get in to trouble well before maxing cards.

@Anonymous wrote:
Hey, I was just wondering if anyone could direct me to information about when it is best to PIF. I know that it has a relationship to Statement date and Payment Due date but I don't know what it is. Thanks in advance!!!!!!

There are a number of threads on this as it is a very common topic. In short, here are the guidelines on when to pay and why:

Pay at least the minimum by due date to keep your account current.
Pay the statement balance in full by the due date to avoid paying interest.
Pay by the report date (statement date for most cards but be sure to confirm with your accounts) to reduce reported balances/utilization.

"Best" is always subjective so if you want addtional details you need to clarify exactly what you're trying to accomplish. General advice with utilization is do not exceed 30%. If you're apping you may want to optimize by allowing only one balance to report at 10% or less.

Re: Conscientiousness

Anonymous — Wed, 01 Apr 2015 03:03:59 GMT

@MarineVietVet wrote:
@Gunnar419 wrote:
Do you keep a low utilization and still find yourself fretting like hell about your balances?

I do. Right now I'm a 6% utilization over 3 out of 6 cards and I feel as if mental Mafia kneecappers are going to come after me if I don't cut that in half and get down to one card ASAP. I feel derelict in my duties, overburdened with debt, and as if I'm not living up to the MyFico Creed.

This doesn't feel good. It's a giant PITA, but it keeps me honest. Because I feel like this I could never, except in the most dire circumstances, max out my cards or default or anything like that.

Yet it's clear that millions of people max their cards all the time without a second thought. Or not pay their bills just because. Maybe after years of that they'll come wandering in here wondering what to do, but they can go that long without giving themselves a nervous breakdown.

I'm glad I'm me but I envy them sometimes, just as I envy somebody who could make a lifestyle out of surfing or take a manana (sorry; needs a ~) attitude toward fixing up their home.

I'm wondering about you guys who always stick with the <9%, one card rule (or try to). Are you like me? Do you worry it to death? Or have you just set up such automatic routines that you're confident you don't even have to worry about high util again?

If you worry it to death, is that worry a big factor in "keeping you honest" and on track?
Personally I don't find it a pain or struggle or worry to keep my utilization low.

I've done it for so long it's become second nature and I do it without thinking about it.

I hope to be there one day. Keep up the good work!!!

Re: Conscientiousness

Anonymous — Wed, 01 Apr 2015 03:09:40 GMT

@Anonymous wrote:
Hey, I was just wondering if anyone could direct me to information about when it is best to PIF. I know that it has a relationship to Statement date and Payment Due date but I don't know what it is. Thanks in advance!!!!!!

Hello BrianPan. From my understanding you should PIF before your statement generates and the credit card company reports to the CBs. Good luck!!!

Re: Conscientiousness

Anonymous — Wed, 01 Apr 2015 03:14:29 GMT

@jbsea wrote:
It's funny that you bring this up. I had decided that i'm not apping for anything and i'm not going to micro manage my utl. Well I cant help but look at my accounts everyday. I already know every due date and statement date. I cant stop myself from paying everything before the statement date. It stresses me out to think that I might leave a real balance. I do like the new me better then the old me but it would be nice to just make a payment and not think about it again. These forms are going to be the death of me.

Hello jbsea! Like you, I prefer the credit conscious person I've become, but it can be overwhelming sometime. Logging in to check balances and to verify that payments have cleared can be a pain in the you know what... I also agree that myFICO can be addictive. Keep up the good work!!

Re: Conscientiousness

Anonymous — Wed, 01 Apr 2015 03:18:51 GMT

@Anonymous wrote:
@Anonymous wrote:
Hey, I was just wondering if anyone could direct me to information about when it is best to PIF. I know that it has a relationship to Statement date and Payment Due date but I don't know what it is. Thanks in advance!!!!!!
I doubt anyone on here really knows. It varies a lot.

I always paid my balances usually a week or two before the due date and sometimes a day or two before. I rarely paid anything before the statement date. Before the February app spree (10 cards) my scores were EQ-819 TU-818 EX- 806. Considering what happened to my AAoA and inquiries I'm surprised they didn't drop more than they did. TU even went up.

It depends which CBs were pulled. Maybe all the new accounts haven't updated to your TU credit report yet. C O N G R A T U L A T I O N S on your recent approvals!!! I hope it doesn't take too long for your scores to get back over 800.