Over worrying about AA?

[Anonymous]

Good Evening All,

Right now I have the follow cards.

Card -- Balance -- Limit

Express NEXT -- $0 -- $500

Discover -- $95 -- $2,500

Amex Blue Sky -- $1,800 -- $4,200

Fifth Third Bank -- $750 -- $4,500

Hilton -- $1,100 -- $8,600

CSP -- $32 -- $6,500

Ritz -- $35 -- $11,000

For the most part my balances are rather low when compared to the avilable credit, except for my American Express Blue Sky card. I recently bought a new laptop (MSI GS60 Stelath) and while I can pay for it when the statement cuts, I put it on my AMEX as that has 0% until September if something were to happen and I needed to wait a little bit on paying it off.

My worry is thay my Amex util is about 40% when the statement cuts and I'm owrried about spooking Chase about this. I have charged upwards to $5,000 on my CSP and Ritz up to $3,000 and paid it off the next day after the statement cuts so I'm hoping that such a high balance will not spook them, but am I over thinking this?

I keep the balance on my 5/3 card as the interest rate I have on that is a permanent 5.9% and that one I'm not worried about at all and will just slowly wittle down. While I can pay it all off the $2-3 monthly interest is so low that I would rather have the interest from my savings or monthly contributions into my Roth IRA have the funds go to that. I'm not going for FICO maximiziation so the very low balances on CSP, Ritz, and Discover don't bother me too much as those will just get paid off when the statement cuts. The Hilton is a new card, so I'm not worried about $1,100 hitting on the first statement too much but maybe I should be?

Any assistance would be appreciated.

Thanks.

[Anonymous]

Sorry to clarify, I'm mostly worried about AA from Chase as that's the bank I see the most amount of postings from with regards to AA and CLDs.

[Ghoshida]

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@Anonymous wrote:

Sorry to clarify, I'm mostly worried about AA from Chase as that's the bank I see the most amount of postings from with regards to AA and CLDs.

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I have carried >40% balances on my AMEX and my Sallie Mae for extended periods (3-5 months) and that did not spook Chase. However, I did not get many CLIs during that period; reasons cited were obviously high balances. 

I personally don't think carrying balances on one card will cause lenders to panic. Don't miss payments; make multiple times the minimum payment. Don't max out multiple cards at once. Should be fine.

[gdale6]

Reduce the number of cards reporting a balance, you ultimately want only 1 reporting no more than 9% of its CL

[NRB525]

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@gdale6 wrote:

Reduce the number of cards reporting a balance, you ultimately want only 1 reporting no more than 9% of its CL

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This is not appropriate for this situation. OP has other objectives right now. You keep repeating it to everyone

The OP question is not about optimizing score, it is how to avoid AA.

[NRB525]

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@Ghoshida wrote:

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@Anonymous wrote:

Sorry to clarify, I'm mostly worried about AA from Chase as that's the bank I see the most amount of postings from with regards to AA and CLDs.

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I have carried >40% balances on my AMEX and my Sallie Mae for extended periods (3-5 months) and that did not spook Chase. However, I did not get many CLIs during that period; reasons cited were obviously high balances. 

I personally don't think carrying balances on one card will cause lenders to panic. Don't miss payments; make multiple times the minimum payment. Don't max out multiple cards at once. Should be fine.

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OP you have nothing to worry about for AA from Chase. You've already pushed the balances on the Chase card and shown you pay that amount at lightning speed. The balance on chase is now nil. They have nothing to be concerned about from your recent payment history.

Enjoy the 0% APR from AMEX. 40% Util is nothing. I had my Delta AMEX card at $1950 of $2000 limit during a period when I was letting balances grow then just paying by due date to avoid interest, and they responded with an auto CLI of $1,000. They've been begging me to let balances get interest on this latest 7% APR Holiday Rate, so I'm idling some balances there to shut them up. Just pay reasonably more than the minimum to stay on a glide path to be zero balance when the 0% APR expires and you will be fine.

I've had AA from Chase on multiple accounts with large balances open at the time of the 2008 credit crisis. They balance chased me with CLD on every account, accelerated payment terms, and even closed accounts with balances on them. But they were only reducing their risk due to the amounts I had outstanding.

I apped for my first new Chase card at the end of December, the Marriott card and got a $6k limit. I charged over $1k in January, PIF just after the statement printed, then the next day apped for the Hyatt and got a $12k limit. So I think I've run the gamut of Chase now

[Anonymous]

I got NO holiday rate from AMEX!! Just auto CLI on my BSP and eventual 3X approval to amt requested.

[NRB525]

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@Anonymous wrote:

I got NO holiday rate from AMEX!! Just auto CLI on my BSP and eventual 3X approval to amt requested.

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That's because you worked it so you already had a below market non-standard APR.  #crocodiletears

[Ghoshida]

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@Anonymous wrote:

I got NO holiday rate from AMEX!! Just auto CLI on my BSP and eventual 3X approval to amt requested.

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First-world problems !

[Anonymous]

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@NRB525 wrote:

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@Anonymous wrote:

I got NO holiday rate from AMEX!! Just auto CLI on my BSP and eventual 3X approval to amt requested.

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That's because you worked it so you already had a below market non-standard APR.  #crocodiletears

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Blah.

Oh well. I probably wouldn't have used it anyway. Got at least two 0% promo cards right now.