@OmarGB9 wrote:
@Anonymous wrote:
@Ficoproblems247 wrote:No need to make multiple payments per month unless you are bumping up against your CL. Just pay your balance in full each month rather than your minimums and you're in good shape. Now, if you have a $1,000 limit card and you use $800 of it as an example, it may be prudent to pay off that balance before the statement cuts so as not to report very high utilization to the bureaus. (Just make sure at least one of your revolving accounts is posting with at least a small balance.) As far as that AMEX of yours, they do not like COs on your report. When you reference your 1 and only derogatory falling off, was that an old CO? If that is the case, you need to wait until AMEX updates their monthly EX FICO 8 score for you. After that, their internal data still lags by up to a few weeks sometimes. If you want a better chance at a CLI on your Delta, wait until your FICO updates on AMEX's app/website, then give it about another month and pull the trigger on a CLI and see how you fare. Ask for 3X your current limit.
Yes!! It was an old charge off I had it on my report when I applied for the Amex to my surprise they gave me the green light!! Only for a $1,000 but still they let me in the door and I'm very grateful but I want to expand my limits.
so yes that old charge off has been deleted I currently have zero derogatory marks on my report and scores in the 700s.
I have about 20 credit cards, personal loans, student loans, and auto loan on my report aversge age is about 3 years and 8 months only.. but my file is fairly thick I would say? so you would recommend out of the 20 cards allow 1 to report a small balance per month to give me a boost in score, and a CLI? Doing this will help my chances of a credit line increase?Well AZEO will help squeeze out a few points, yea, but whether it will truly help increase the chances of a CLI is hard to say. It certainly wouldn't hurt.
+1^, Omar stated what I meant about this a bit better. I was trying to imply that you definitely don't want to let all revolvers report at 0. If you have 20 open revolving accounts, you don't need to be overly concerned about ONLY 1 of them posting a balance. You can let multiple cards still report in as long as your util is under control.
@Anonymous wrote:
@Ficoproblems247 wrote:You have 20ish cards? These accounts are all open? Yes, you only need to make sure that all open revolving accounts are not reporting a $0 balance. If they do you will be hit with the AZ penalty to the tune of typically about 15-25 pts. Show AMEX a bit of responsible spending once you have all of your utilization under control, and once those charge offs are off your reports you have a far greater chance of increases from them. They are definitely a lender that likes to see an ongoing pattern of PIF. I recommend reading up on the AZEO method for letting 1 cars report a balance, as well as the definitive 3X AMEX CLI guide while you wait to request your next increase. There is a lot of helpful info to help you prepare.
Yes, I have around 20 revolving accounts I know Amex and Navy fed and known for their generosity when it comes to credit limits i just got my Navy fed account 3 weeks ago so I'm reading on the tips and tricks of that as well! I really appreciate your help!
and to clarify I currently have an overall Credit utilization is 0% across my 20 cards.. I have no charge offs anymore as it was deleted 3 days ago.. out of 20 cards I have about $30,000 roughly in available credit. Using the AZEO method letting a card report a balance what would you recommend I allow report out of my $30,000 in available credit to yield the highest boost from AZEO?
The exact amount doesn't matter, as long as it's under 8.9% and over 1% (smaller balances may be rounded down/truncated by the FICO algorithm). So maybe around $300? That's 1%. Others with higher TCLs than me can correct me if I'm wrong.
better to constantly apply for new cards, why get a 2k CLI when u can get a 10 maybe even 15k new card?
@Anonymous wrote:Yes, I have around 20 revolving accounts
How do you keep track of them all? I have a few less than that and actually keep a running log of when each one was last considered active (whether it was a purchase, or the last time paid off, etc.). When one is getting close to a year without being used, I mark it to remind myself to use it soon. If I didn't do that, I'd continually risk losing cards due to inactivity. Do you chart them somehow like I do? Or do you inherently know you're using all of them, so there's no need?
