It worked (4 points increase) !

[Anonymous]

I know it was only 4 point increase, but it was from 757 (12/30/2007) to 761 (2/8/2008). 760 seems to be the score for the best available rate.

What I did:

1. On one night (about a month ago), I decided to ask credit increases and I got BoA from 10k to 12k, AMEX Costco from 10k to 15k, Citi from 11.6k (?) to 16k. I am not sure which CLI ended up with a hard. I guess Citi, which doesn't report my CL.

2. I found when each CCC reports my balance and paid them off. Before doing that, I had about 6-7 accounts with balances. I paid off Citi, AMEX Costco, Chase BP (as an AU).

As a result, my UTIL was reduced, which used to higher than 10%, and # of open accounts with a balance was also reduced by half. I know it is only 4 points, but I was able to break the barrier of 760. As I am looking for a mortgage sooner or later, I am happy to see that.

As for Citi, I asked a few times to report my CL of $16,000, but they wouldn't do that. I consider converting into one they report a CL. Anyone did that?

[Anonymous]

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jsk wrote:

I know it was only 4 point increase, but it was from 757 (12/30/2007) to 761 (2/8/2008). 760 seems to be the score for the best available rate.

What I did:

1. On one night (about a month ago), I decided to ask credit increases and I got BoA from 10k to 12k, AMEX Costco from 10k to 15k, Citi from 11.6k (?) to 16k. I am not sure which CLI ended up with a hard. I guess Citi, which doesn't report my CL.

2. I found when each CCC reports my balance and paid them off. Before doing that, I had about 6-7 accounts with balances. I paid off Citi, AMEX Costco, Chase BP (as an AU).

As a result, my UTIL was reduced, which used to higher than 10%, and # of open accounts with a balance was also reduced by half. I know it is only 4 points, but I was able to break the barrier of 760. As I am looking for a mortgage sooner or later, I am happy to see that.

As for Citi, I asked a few times to report my CL of $16,000, but they wouldn't do that. I consider converting into one they report a CL. Anyone did that?

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Congrats!  You've learned to play the FICO game to squeeze out a few points here and a few points there.  Well done!

Citi usually converts products very easily.  Just call and ask what your card is eligible to convert to.  Out of curiosity, which Citi do you have that doesn't report CL?

Message Edited by cheddar on 02-09-2008 01:25 PM

[Anonymous]

Originally, it started as AA Citi, and was converted into a Diamond Preferred Rewards World MC. Because it has the CL of 16k, I can reduce my UTIL tremendously.

[Red1Blue]

Congrats jsk.

[Anonymous]

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jsk wrote:

Originally, it started as AA Citi, and was converted into a Diamond Preferred Rewards World MC. Because it has the CL of 16k, I can reduce my UTIL tremendously.

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Ahh, that makes sense then.  World MC cards don't report CL, since they have no pre-set spending limit.

You should be able to convert to another card pretty easily, just make sure it's not another World MC or a Signature Visa.

Message Edited by cheddar on 02-09-2008 01:32 PM

[Anonymous]

jsk,

Good work.  Hey, 4 points is a lot when you start with a great score.  This will help you when you go looking for a mortgage.

I have yet to play the scoring game.  My FICO scores average high 700s.  Just seems like a lot of work to time the CC payments.  I have 6 CCs and use them all.  I mean, I charge EVERYTHING for rewards points:  groceries, gas, cable TV, phone, electricity, etc.   I would charge my mortgage payment if I could.

This is good to know if I ever want to refi my mortgage or buy a new car.  Then, I guess I will have to "play the game".

[Anonymous]

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Scout1965 wrote:

jsk,

Good work.  Hey, 4 points is a lot when you start with a great score.  This will help you when you go looking for a mortgage.

I have yet to play the scoring game.  My FICO scores average high 700s.  Just seems like a lot of work to time the CC payments.  I have 6 CCs and use them all.  I mean, I charge EVERYTHING for rewards points:  groceries, gas, cable TV, phone, electricity, etc.   I would charge my mortgage payment if I could.

This is good to know if I ever want to refi my mortgage or buy a new car.  Then, I guess I will have to "play the game".

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Yeah, that is a definite advantage to having high 700s.  You don't need to play the game because if your score tanks for any reason you're still in good shape!

I, however, with my lowly high 600s to low 700s, need to play the game to avoid going to mid 600s.  I also use my cards for everything.  Only the rent, the car payment, and the SLs are paid with a method other than CCs.  I would LOVE to be able to charge those purchase, though, as those are our largest recurring bills by far.  The rewards would pile up so fast!

[MidnightVoice]

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@Scout1965 wrote:

jsk,

Good work.  Hey, 4 points is a lot when you start with a great score.  This will help you when you go looking for a mortgage.

I have yet to play the scoring game.  My FICO scores average high 700s.  Just seems like a lot of work to time the CC payments.  I have 6 CCs and use them all.  I mean, I charge EVERYTHING for rewards points:  groceries, gas, cable TV, phone, electricity, etc.   I would charge my mortgage payment if I could.

This is good to know if I ever want to refi my mortgage or buy a new car.  Then, I guess I will have to "play the game".

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When you need credit = play the game. That is what I do. I can relax now I have my car and my Amex

[Anonymous]

Cheddar and Midnight Voice,

I agree with you both.  I only need to play the game if I am seeking new credit...

The scoring game just seems time consuming, or maybe I am just lazy.   Anyway, until I need new credit, all of my CCs will continue to report a balance each month.  Doesn't seem to hurt me at this point, as my utility is right around 15% and my scores are high 700s.

[Red1Blue]

Hi scout, you might want to watch your scores for one more reason. If you dont keep track of your util and if your scores drop too much, then CCC's might start doing CLD ( credit limit decrease). You dont want that to happen. As long as you keep that in mind, even if you dont play the scores game that is fine. Just keep that in mind.