Once you pay that, it should change things a bit. That util will drop a good bit, and likely move your.scores up also.
@Andy77 wrote:
So I was talking to Citicards the other day asking them if my account qualified for a CLI without the need to pull my CR and they rep checked and basically said there was trigger on my account that was not allowing her to do that right now.
With that said, I told her I would be paying off 76k of my 97k in debt and I said, if I let you all know this, would other features be activated on my account and or could I possibly get an auto cli (last HP increase on my account was Dec 20, 2013)
I opened this account in Sept 2009 and used and PIF for a long time, but been carrying a large balancel for a long time due to business debt (11800 of 12k limit)
So the lady said I could print out of the payment confirmation screens on all my other credit cards I was paying on and fax them into the citcards "credit bureau dispute" fax number so they could update their records and my account.
I am assuming since she said I could do this, I guess they hypothetically use this payoff info in their computer systems prior to the soft pull they get every month reflecting these payments ?
Has anyone done this before ?
Congratulations on your plan for bringing down your balances!
I've never read of anybody doing what you're describing, and to be honest if it were me I would let things happen 'organically'; in other words once the debts are paid down simply wait a few weeks for the credit bureaus to update on their own. A month (or slightly longer depending on your account cycles) should be all it will take.
Here's why I say this... I know from my own past experience both dealing and working with big companies that they have processes in place to deal with things, and if you try to go outside those processes (i.e. "out of process") the results can be unpredictable at times. The best-case scenario is that you get your CLI a few weeks earlier than you would have anyway, and the worst-case scenario is that something else gets hosed up and you end up with no CLI at all (or worse). It's clear to me that what the CSR suggested for you to do is out-of-process for them since you're being directed to send your PIF proof over to the "dispute" department.
On the flip-side it could be (?) that everything would go exactly as you were told, and the correct person over in their dispute dept. will know exactly what to do. You'll have to decide if getting a jump of a few weeks is worth that chance. I know what I would do, though. 