@s_haliz wrote:
@dilettante wrote:
@s_haliz wrote:
@dilettante wrote:
@s_haliz wrote:
One of the other question comes to my mind is:
If the balance is reported as "$0.00" to the credit agencies (EX, TU, EQ), then how do other lenders know whether this card is a dormant card (not used) or used but paid in full before statement cuts?
Experian is one CB that reports monthly minimum due as well as amount of payment made. So on that report at least, they would be able to see that a certain catd is being used.
Are you trying to get your reports ready for a specific lender that you want a card from? Or are you after a specific CL, CLI?
When the statememt balance is $0.00, the minimum payment due would be $0.00 as well. Now not sure if that would give a hint to lender that this card was used.
Anyone else have a comment on this?
Actually, if you look at a report from Experian, on each account, it lists in the balance history section for each account: "account balance/date payment received/scheduled payment amount/actual amount paid". That what I was referring to because on my reports, though it states that it's a $0 balance, it shows how much $ i paid. I'm sure anyone looking at the report could deduce that that the card is being used.
The reports also always list highest balance on the card so at least they will know how much you've charged on that card before. For example, I just opened a Barclay Arrival card last month. I charged $17k on the card the first day and a bit more but paid it off before the statement cut. The statement was for $0 but when I look at my CB report, the high balance showed on the report as $18k and my limit as 20k.
In my Experian report, all I can see by month is: Statement Balance/Minimum Payment". It is not saying anything else. It shows high limit of course. It also going to show "OK" on each month which is interpreted as 'Paid as Agree"...Meaning you might have paid in full your balance before due date or just the minimum payment or in-between.
I am fully agree with your second paragraph. I know all CBs are now reporting the high balance (say if my statement balance is $500 but if I had used another $1,200 the following month and that's day CC chose to report to CB, my high balance would be $1,700). And if my previous high balance is say $2,950, this $1,700 would be suppressed by $2,950. Meaning my high balance would still be $2,950...That shows what is the highest I had ever charged to my credit card.
Is your report directly from Experian? I check my report from the Experian site about once every couple of weeks and it always shows payment history for the past 2 years or however long I've had the card. It also gives a history of your credit limit so if you get a CLI, it will show on the report, the increases and when the change occurred.
Anyway, from your past successes and your scores, I really think you probably will get whatever you want and you don't need to overthink it too much. Plus, you're assuming your apps are going to be manually reviewed to have all those details to be of importance. I've been approved for many cards this past year and a half with pretty good limits and my scores have fluctuated between 770-820 on all CB's, with anywhere from 1% - 37% utilization and just until recently, they have all been instant approvals.
