topic Re: Did I fall into the no balance trap? in General Credit Topics

Did I fall into the no balance trap?

Basspro2 — Tue, 09 Jun 2020 11:22:18 GMT

Stupid Question? My Transunion score was 836, this morning I got on and it was 829. Was this due to having no balances on any card?

Should I leave a balance to report from now on? Will it bounce back?Thanks in advance for any answers.

Re: Did I fall into the no balance trap?

Anonymous — Tue, 09 Jun 2020 11:28:56 GMT

Yes

Re: Did I fall into the no balance trap?

Anonymous — Tue, 09 Jun 2020 11:59:24 GMT

You will take a small point hit when no cards report a balance, and in your case very small hit.

Some other CRAs may have a lesser or larger hit.

Since your score mentioned (if true fico) is in awesome territory, those few lost points are pointless

If needed, just let a small balance report during statement cut (preferred 8% of limit or less)

and pay off in full before due date each month.

You can shuffle your reported balance to the various cards to allow use each month, if you have multiple.

Re: Did I fall into the no balance trap?

Basspro2 — Tue, 09 Jun 2020 12:03:14 GMT

Yes true Fico.. I knew to but didn't listen to myself. Hope it bounces back..

Re: Did I fall into the no balance trap?

Anonymous — Tue, 09 Jun 2020 12:30:54 GMT

Played the AZEO game for the heck of it and took a 25 point hit (reduction) due to no balances reporting. Comments were: "not utilizing credit" ... took me a couple of months to get the points back.

In our challenging times, I will not experiment any more as I don't want lenders thinking my profile is on the slide ... scary

Re: Did I fall into the no balance trap?

StarraeAday1 — Tue, 09 Jun 2020 21:12:38 GMT

@Basspro2 wrote:
Yes true Fico.. I knew to but didn't listen to myself. Hope it bounces back..

Seriously, the difference between those two scores is negligible. Anything over 800 and you're golden. It's really pointless to even waste a second being worried about it or hoping it bounces back because it wouldn't change a single thing if you needed to seek credit right now.