Chase approval when?

[dfwxjer]

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@youngandcreditwrthy wrote:

@dfwxjer 

as stated, rough numbers. It's been more than ten years at this point, the slate is clear. Now I PIF and income is higher, but it would be nice, as I continue to build my credit, to park a month or two worth of disc expenses on a good BT offer and use that to rebuild without paying super high interest or buying things I dont need. Otherwise, I'll just continue PIF, but I know for certain most banks don't like PIF. Synchrony already lowered my Car Care limit bc  I was pif and they made no interest lol.

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I PIF every month and believe this is a myth propagated by Internet forums. Keeping your utilization below 6% is ideal and that's really just to account for a normal balance reporting. 

parking a couple months worth of expenses on a BT card doesn't help your credit. It's just a sign that you're over extending yourself and repeating past behavior that lead to out of control debt. Not to say a BT can't be a useful tool for certain situations but you're using it to kick the can down the road under the guise of credit building. 

for all you know, synchrony lowered your limit bc you have scores in the 670s while carrying a 6-8k balance on mid tier credit limit cards. 

I promise you, patience is a virtue. You'll get to where you want to be much faster by properly managing the cards you currently have. 

[Horseshoez]

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@youngandcreditwrthy wrote:

@dfwxjer 

as stated, rough numbers. It's been more than ten years at this point, the slate is clear. Now I PIF and income is higher, but it would be nice, as I continue to build my credit, to park a month or two worth of disc expenses on a good BT offer and use that to rebuild without paying super high interest or buying things I dont need. Otherwise, I'll just continue PIF, but I know for certain most banks don't like PIF. Synchrony already lowered my Car Care limit bc  I was pif and they made no interest lol.

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Is that a blanket statement for all financial institutions?  If so, where did you get this information?

FWIW, I've been PIFing all of my accounts for years and never once had an issue; CLIs are there for the asking (I don't need them, but don't say "no" to auto-CLIs), and my credit scores hover either side of 800.

[dfwxjer]

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@Horseshoez wrote:

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@youngandcreditwrthy wrote:

@dfwxjer 

as stated, rough numbers. It's been more than ten years at this point, the slate is clear. Now I PIF and income is higher, but it would be nice, as I continue to build my credit, to park a month or two worth of disc expenses on a good BT offer and use that to rebuild without paying super high interest or buying things I dont need. Otherwise, I'll just continue PIF, but I know for certain most banks don't like PIF. Synchrony already lowered my Car Care limit bc  I was pif and they made no interest lol.

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Is that a blanket statement for all financial institutions?  If so, where did you get this information?

FWIW, I've been PIFing all of my accounts for years and never once had an issue; CLIs are there for the asking (I don't need them, but don't say "no" to auto-CLIs), and my credit scores hover either side of 800.

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It's a categorically false statement with zero truth behind it. The only people I ever hear repeat this are the ones trying to justify carrying a large balance while trying to game the system. 

[Horseshoez]

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@dfwxjer wrote:

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It's a categorically false statement with zero truth behind it. The only people I ever hear repeat this are the ones trying to justify carrying a large balance while trying to game the system. 

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I completely agree.  

[Screwedoncemore]

I filled out for a no credit pull unless approved and I filled out the online application and it said it would let me know by mail in I was approved so I have been waiting I check my credit and it dropped 17 points and I was not approved  what. Can I do to get that 17 points back my score was 717 and it dropped to 700 because I would have never done it if it did not say unless approved now how to fix can I file a dispute or contact chase to have them clear it off my credit sense it was a lie help 

[Horseshoez]

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@Screwedoncemore wrote:

I filled out for a no credit pull unless approved and I filled out the online application and it said it would let me know by mail in I was approved so I have been waiting I check my credit and it dropped 17 points and I was not approved  what. Can I do to get that 17 points back my score was 717 and it dropped to 700 because I would have never done it if it did not say unless approved now how to fix can I file a dispute or contact chase to have them clear it off my credit sense it was a lie help 

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Sorry, a pull is a pull, it will impact your score for a year.  Where did you apply from?

[youngandcreditwrthy]

@dfwxjer is there a problem with utilizing my credit in the way I see fit?

I don't think so. so my numbers were off a little you sound like a banker. its all funny money anyway.

based on my CLIs with Synchrony for example, and the fact that banks want to make money from card holders that carry balances, Id say it ring  partially true that banks are uhm... more likely to approve someone with a manageable balance who is a good risk that they could make a few $$$ on. 

[youngandcreditwrthy]

@Screwedoncemore  you need to get ahold of their credit reporting department. it will take alot of time and leg work but any new account can be rmoved as is any inquiry that resulted from basically their fault.

if not, report to CFPB. Yes it's a lot of work but that many points on your  credit score is worth it buddy.

[dfwxjer]

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@youngandcreditwrthy wrote:

@dfwxjer is there a problem with utilizing my credit in the way I see fit?

I don't think so. so my numbers were off a little you sound like a banker. its all funny money anyway.

based on my CLIs with Synchrony for example, and the fact that banks want to make money from card holders that carry balances, Id say it ring  partially true that banks are uhm... more likely to approve someone with a manageable balance who is a good risk that they could make a few $$$ on. 

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You can use your credit however you see fit, but making flat out wrong statements to justify shifting debt around just adds to the myth that carrying a balance is a good thing. It's not. 

it can be a necessary evil but it will never help you. 

unless you're looking to keep getting approved for mid tier cards then by all means carry on. Your posting history is indicative of someone trying to take every short cut possible to game the system, but not getting the results they ultimately want. I assure you patience and paying your balances will get you further, faster, than pretending that carrying a balance will help your credit while app spreeing for anything that will grant you a few thousand in credit.