All My (NON)1%ers

[JSS3]

For those who are into letting it "all hang out", list the amount of cards you have in total. Then how many you allow to carry a balance over time(NOT paying in full after statement cuts).

I have 23 cards and am going to allow up to 6 to carry balances from now on. I previously liked seeing all but 1 card at 0(although that 1 reporting was over 60%). 3 reporting at the most.

I have one card at 50% now and the new ones are reporting at less than 30%(ie 1400/5000. 450/2500. 491/3000. 200/3000).

I was meeting spending bonuses and paid down balances. I'm so tempted to cancel the small balances out so my reports look "clean"(ie at 0) but I must fight it!

[Anonymous]

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@JSS3 wrote:
For those who are into letting it "all hang out", list the amount of cards you have in total. Then how many you allow to carry a balance over time(NOT paying in full after statement cuts).

I have 23 cards and am going to allow up to 6 to carry balances from now on. I previously liked seeing all but 1 card at 0(although that 1 reporting was over 60%). 3 reporting at the most.

I have one card at 50% now and the new ones are reporting at less than 30%(ie 1400/5000. 450/2500. 491/3000. 200/3000).

I was meeting spending bonuses and paid down balances. I'm so tempted to cancel the small balances out so my reports look "clean"(ie at 0) but I must fight it!

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Depends on the month.

[kdm31091]

Well obviously to each their own and opinions vary but I never really do the 1% thing, at least not intentionally. I sometimes have a tiny balance on a lesser-used card like my BCE, but it's not because I'm trying to 1% optimize, it just happens.

I know there are proponents of it, but I don't see any evidence that it really makes any significant difference in approvals or your score. Of course the difference between a 1% and a 60% balance is significant. But 1% vs 6%? 1% vs 9%? I dunno. Is it worth the time? I guess it's a personal decision

[takeshi74]

"Non 1%" and carrying are not necesarily mutually inclusive.  One can pay in full and have balances reporting.

What's the goal here?  To make yourself feel better about carrying balances?  You should make your decisions based on your specific situation and what works best for you versus what others do.

FWIW I have 3 cards carrying balances on 0% offers.  I don't worry over number of balances reporting or 1%.  Most of my cards report balances even if paid in full.  My spend and limits put my utilization at about 8% even with the 0% balances.

[Anonymous]

Unless I plan to apply for car or mortgage (have both and are two years old) I don't care what reports. My BestBuy card reported $1.59 to keep it open after a water purchase (to show use) and my Lowes just reported $1.88 for a tiny pack of flowers. As long as I don't pay interest, I am happy.

[someone379]

Only my discover carries a balance, and that is only because it is 0% and I BT'd a signature loan from a bank on to it. Paying it down rapidly, currently at $3600

Otherwise, I use all of my cards, sometimes I get them to show $0 before statement cut since I make payments multiple times per month, other times I do not because of use, but worrying about that takes away from my maximizing rewards (which is my priority).   My overall utilization shows < 30% even with normal usage reporting.

I am pretty much against carrying any balances, my Discover card is a temporary exception.

[JSS3]

This isn't to spark another debate about those who practice 1% reporting vs the everyone else. It's really me inquiring what the NON micromanagers feel comfortable allowing to report on the number of cards they have. For instance, at this time, I'm going to allow 6/23 cards to report and not feel like I'd be slammed with "Too many accounts with balances".

I'm still obsessive with controlling my reports but I'm breaking away alittle.

[JSS3]

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@takeshi74 wrote:

"Non 1%" and carrying are not necesarily mutually inclusive.  One can pay in full and have balances reporting.

What's the goal here?  To make yourself feel better about carrying balances?  You should make your decisions based on your specific situation and what works best for you versus what others do.

FWIW I have 3 cards carrying balances on 0% offers.  I don't worry over number of balances reporting or 1%.  Most of my cards report balances even if paid in full.  My spend and limits put my utilization at about 8% even with the 0% balances.

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My goal is to actually engage the Myfico community by picking their brains. By no means did I indicate anywhere in my opening that I'd do anything others are doing. I actually detailed what *my* plans were going forward BEFORE replies came in. 

The board is a bit quiet and I thought I'd start a topic to get a convo going. I don't know what's up with the constant snarkiness I see from people on here that inevitably gets threads closed but don't come my way with it. People, like you, should learn once in fall all, if a topic is not to your liking--- KEEP IT PUSHING, instead of coming in them trying to spoil the fun. There are people on this board who seem to scoff at topics being "repetitive", or not "stimulating" and the worst of the bunch are the politically correct ones who answer with NOT answering... just the "YMMV". WE UNDERSTAND THAT DISCLAIMER BY NOW. We know it's case by case. We like answers in the GENERAL sense. Not only for data points but to CONVERSE with other people. Ever thought about that? We like this forum BECAUSE it's a community of people who are into the same things we are(as opposed to real life where people look at you crazy for being excited about anything having to do with credit cards).

[Anonymous]

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@JSS3 wrote:

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@takeshi74 wrote:

"Non 1%" and carrying are not necesarily mutually inclusive.  One can pay in full and have balances reporting.

What's the goal here?  To make yourself feel better about carrying balances?  You should make your decisions based on your specific situation and what works best for you versus what others do.

FWIW I have 3 cards carrying balances on 0% offers.  I don't worry over number of balances reporting or 1%.  Most of my cards report balances even if paid in full.  My spend and limits put my utilization at about 8% even with the 0% balances.

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My goal is to actually engage the Myfico community by picking their brains. By no means did I indicate anywhere in my opening that I'd anything others are doing. I actually detailed what *my* plans were going forward BEFORE replies came in. 

The board is a bit quiet and I thought I'd start a topic to get a convo going. I don't know what's up with the constant snarkiness I see from people on here that inevitably gets threads closed but don't come my way with it. People, like you, should learn once in fall all if topics not to your liking just KEEP IT PUSHING, instead of coming in them trying to spoil the fun. There are people on this board who seem to scoff at topics being "repetitive", or not "stimulating" and the worst of the bunch are the politically correct ones who answer with NOT answering... just the "YMMV". WE UNDERSTAND THAT DISCLAIMER BY NOW. We know it's case by case. We like answers in the GENERAL sense. Not only for data points but to CONVERSE with other people. Ever thought about that? We like this forum BECAUSE it's a community of people who are into the same things we are(as opposed to real life where people look at you crazy for being excited about anything having to do with credit cards).

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I'm with you. Letting balances report isn't the same as carrying a balance.

[kdm31091]

I agree sometimes answers can tend to be too general and "YMMV" around here but that's just some people's personalities. No reason to overreact. Some people think the 1% thing is a waste of time and you will see that in responses because that is some poster's opinions on it.

To better answer what I think you are trying to ask with your post, no, I don't worry about feeling "comfortable" with balances reporting. Life is too short (IMO) to worry about this. Unless you are apping soon, utilization is really not a big deal, and any dings from a balance reporting will recover. To me it's just not worth stressing or obsessing over it because it's just not that important.