topic Re: Missed my mark in General Credit Topics

Missed my mark

babbles — Wed, 14 Jun 2023 15:27:45 GMT

I was trying desperately to bring my AMEX balance from $10 to $1, TU seems to react with the smallest change but since my balance was .02 cents, would it report as $0 or $1?

Re: Missed my mark

K-in-Boston — Wed, 14 Jun 2023 21:09:33 GMT

@babbles wrote:
I was trying desperately to bring my AMEX balance from $10 to $1, TU seems to react with the smallest change but since my balance was .02 cents, would it report as $0 or $1?

That seems a bit extreme. Unless Amex has balance chased you to the point of absurdity where $10 would put you beyond a utilization threshhold, that difference is unlikely to matter whatsoever. It's possible a balance of $0.02 would just be written off (many lenders do this for amounts under a dollar or two) and report as $0 because your statement balance would actually be $0. If they do report the $0.02 balance it would be reported as $1.

Re: Missed my mark

babbles — Wed, 14 Jun 2023 21:41:30 GMT

I know it seems absurd but TU just won't let me get a perfect score, was 4 points away then my balance increased by a $2 so the dinged me a point but NFCU told me what I already knew,, my cycle balance was 2 cents! I figure if it zeros out I may still take a hit somewhere, just a personal goal!

Re: Missed my mark

FireMedic1 — Thu, 15 Jun 2023 10:23:49 GMT

Let age and not whats reported let you hit the mark. Some things just dont make sense at all. Even a few dollars. Let your AAoA or oldest account age a few months and keep paying the same.

Re: Missed my mark

Horseshoez — Thu, 15 Jun 2023 12:08:32 GMT

@babbles wrote:
I was trying desperately to bring my AMEX balance from $10 to $1, TU seems to react with the smallest change but since my balance was .02 cents, would it report as $0 or $1?

Are you talking about TU from the likes of CreditKarma, or TU via one of the FICO scores? I ask because what you've reported sounds a lot like a Vantage 3.0/FAKO score.

Re: Missed my mark

SouthJamaica — Thu, 15 Jun 2023 15:26:28 GMT

@babbles wrote:
I was trying desperately to bring my AMEX balance from $10 to $1, TU seems to react with the smallest change but since my balance was .02 cents, would it report as $0 or $1?

If you want it to report a balance you should let it report at least $5 or $10.

Re: Missed my mark

babbles — Thu, 15 Jun 2023 15:28:54 GMT

I should have clarified, my Fico 3B report

Re: Missed my mark

Thomas_Thumb — Thu, 15 Jun 2023 15:43:01 GMT

If your statement balance is $0.02 then it would likely be listed as $0 on a TU report. Then you would be hit with a no recent revolving activity penalty - assuming no other cards report a balance.

Just report a balance above $2 but less than 5% of the card's CL each month.

Btw - what is the card's Credit limit?

Re: Missed my mark

butterpecan — Thu, 15 Jun 2023 16:45:25 GMT

@babbles It will report as $0 on TU. I paid my MC down to 0.05 cents just to see as I learn about credit reporting and it reports as zero on TU. And my score dropped 11 points for it on TU like you said it appears they are sensitive as it brought me to AZEO. EQ and EX didn't bat an eye at it.

Re: Missed my mark

babbles — Thu, 15 Jun 2023 17:20:12 GMT

Thanks BP, I know it seems trivial but I have a personal goal so like a poster stated earlier, I'll just have to sit back and wait it out!

Re: Missed my mark

butterpecan — Thu, 15 Jun 2023 22:46:54 GMT

@babbles Gotcha, it's a learning curve for me. All 3B on myFICO for F8 scores reacted differently than I thought they would but I need to test the waters for myself being I've not had credit in 5 years or even looked at my report not even once since 2018 until April. I have learned soooo so much here in the 2 brief months I've been here. Best of luck with your goals.

Re: Missed my mark

babbles — Fri, 16 Jun 2023 15:31:42 GMT

Thanks Thomas! Will do!

Re: Missed my mark

babbles — Sat, 17 Jun 2023 18:27:40 GMT

So I did gain a point from TU for the $10 decrease to 0 on one of my NFCU cards