@Aim_High wrote:
@Anonymous wrote:
@Aim_High wrote:
Finally, I know you're fairly new to our forums (Welcome, by the way!)
but this post and another recent one talks around the topic of MS. That is something we don't do on this forum and is against our Terms of Service. I know some other card forums openly discuss these topics, but My FICO prohibits us from doing it here.
- Discussion of illegal or unethical activities or providing links to other websites containing such information;
This is another of those rules that has largely gone away since the moderator change.
I wouldn't exactly say the rules have gone away. They are still present. It's just that this rule and some others are much less strictly enforced than they were previously since our moderators don't actively participate in the forums. It's like two small rural towns with a brief 30 mph zone. The one with a police presence gets a reputation to be taken seriously and the one without a police presence tends to become ignored. So at this point, absent a rules change, it's up to us to police ourselves to maintain the previous decorum.
It certainly is up to the mods to determine what can or can't be discussed. However there is nothing illegal mentioned and unethical like beauty is in the eye of the beholder.
Ultimately it's up to creditors to determine how much they will put up with.
@Aim_High wrote:
@Anonymous wrote:Requesting CLDs is a time-honoured approach for those who want to maximize AUTOMATED approvals, who want to avoid "eyes on the account" for whatever reason. This is certainly true for frequent churners, a human reviewer might take note of a pattern of new cards that soon don't have any reported balance, automated approval algorithms are often less fussy. As OP fits into this, it makes perfect sense.
Just as much as the opposite, the endless "growing" the cards for padding with no end in sight!
I see, @Anonymous. Something tells me the last sentence was directed at the approach of myself and some others on the forums.
Actually, it wasn't directed at you! You (and some others) do it mainly as a "hobby" goal. My "concern", if it existed, is more towards those that reject good cards because they aren't growing as they have been told they need to. A $5000 CL Freedom Flex is prefectly fine, as is as $2K one if you are willing to pay if off before statement closes.
@markhs777 wrote:It certainly is up to the mods to determine what can or can't be discussed. However there is nothing illegal mentioned and unethical like beauty is in the eye of the beholder.
Ultimately it's up to creditors to determine how much they will put up with.
Nothing illegal, @markhs777, but without even spelling it out, the MS-referenced tactics are considered by lenders to be unethical violations of the rule or intentions of meeting SUB or rewards spending. Lenders have shut consumers down for such behavior. On My FICO, I've seen quite a few threads even going so far as to lightly reference it being cautioned by the moderators before the moderation change to Khoros.
@ElvisCaprice wrote:Thank you for the thoughtful feedback and welcome @Aim_High. I agree on the credit limit one would want to maintain so as to not go afoul of overall utiization, but individually it's not what I've experienced, more like 30% is okay. I wasn't stone set on this ratio and was still playing around with the perfect one, thank you. 2 to 3 times would of been the maximum spend, like for the SUB, not normal. But I can see where this number could be higher although I haven't noticed any hit to my credit score. As far as new accounts, I've done 6 in the last 4 months, 5 for subs and all seems well. Obviously a break is needed but they keep offering me new CC's, the issuers. Can't say no to a nice SUB.
As far as MA, my interpretation or means would only go so far as to use CC's to finance new checking accounts. Nothing nefarious. But I will be mindful of the rules set forth here in the forum. In fact, I'll just drop this terminology and go with the financing of checking accounts. I picked up this language from another members post here obviously not fully knowing it's meaning.
Cheers!!
You're welcome for the honest and thougtful feedback, @ElvisCaprice.
As I mentioned, my reply was not a condemnation of your churning approach to the cards as much as not differentiating that the approach is not something to be taken lightly by anyone without a thick, clean, and deep credit file. That is what allows you to weather so many new accounts and inquiries so quickly with less of an impact than the same behavior would have on a young, thin file.
The utilization topic is not so cut-and-dried as to boil down to a single percentage. There has been some detailed discussion on the topic from some members much better informed than me and long before I arrived on My FICO. I'll refer you to a couple of posts I made and one of them has a link back to a much older "master" thread topic on how both aggregate and individual utilization impacts FICO. Read all of these. (Link 1) (Link 2) But yes, 30% is better than 50%!
As for a recommended credit limit if downsizing a limit, I could recommend a few other ideas that are not so restrictive as to raise potential monthly utilization to 33% to 50%.
- Annual spend on the card in the last 12 months would be the most conservative place to start. That would yield an average monthly utilization of 8.33%, just below the 8.9% cutoff for optimizing FICO. This is a very workable limit for most consumers, even if they have few overall cards in their lineup.
- Ten months of average spend would yield a 10% utilization, still a pretty good ratio and with some breathing room.
- Six months of average spend would yield a 16.66% utilization. In my opinion, anyone who gets to this level or above on a card they use frequently should also have multiple other cards to fall back upon for contingencies.
- Four months of average spend would yield a 25% utilization. That would keep the account under the 28.9% breakpoint. That is the absolute highest ratio I would recommend, but I still prefer no less than 10-12 months average monthly usage.
- Three months of average spend would yield 33.33% utilization. Ouch. Over both the 8.9% and 28.9% breakpoints.
- Two months of average spend would yield 50% utilization. By now, you're needing to pay early to avoid some pretty big FICO scoring hits as you've also exceeded the 48.9% breakpoint.
- One month of average spend would yield 100% utilization, of course, and that is obviously unacceptable and unworkable without early prepayments.
For me, I feel like an outsider around here when it comes to one thing - I can't seem to understand the maddening obsession with CLIs. With one exception (AOD, I'll explain), I've never, ever, ever, cared what my initial CL was, nor what I feel it 'should' grow to be..... so long as it's more than I'll ever need, which 98% of all my cc's have provided over the last 30+ years (except AOD, I'll explain). I actually don't understand why people list their CLs in their signatures. No offense, but why would I care? Most all of my cards have provided ample CL for my needed spend (except AOD, I'll explain ). Great. Why do I need to request a CLI? Why do I 'need' more CL? I don't!
So, one exception - AOD - at the time of application, I just wanted to be as low risk / under the radar as possible so I made the mistake of requesting the lowest CL available ($5k) and, at times (when the 3% was uncapped), it didn't cover all my spend, so I caved and asked for a CLI to $10k, granted. Perfect. I didn't need $15k, or $20k, $10k is just right.
I'm not so sure I'd go through the trouble to actually request a CLD, but, conversely, I certainly won't be making any CLI requests any time soon. All my limits more than cover my spend. Auto CLIs happen often, which is fine, but, for me, no need to actively request a CLI. 
@ptatohed wrote:I'm not so sure I'd go through the trouble to actually request a CLD, but, conversely, I certainly won't be making any CLI requests any time soon.
CLD's are much simpler than CLI's. Some issuers you can do it online, automatic thru your account without even speaking to someone.
Citi:
Chase:
Aven:
RH:
@markhs777 wrote:I agree with you to a degree
The consumer should do what's best for her/him as long there is no specific verbiage that violates policy.
In my case I have a Verizon cell plan. I buy Verizon gift cards at a grocery store and get 4% cash back with my Verizon Visa while only paying $2 for the card. I pay a little less than the bill with the gift card while staying on auto pay saving an additional $10 a month. Sync has never said a word.
Just don't find anything shady about that since Verizon issues the gift cards so obviously you can only use them for Verizon.
Which grocery store sells Verizon gift cards? Not prepaid, correct? Why is there an extra fee for the gift card? They are at cash value at Verizon, free shipping. You do know that you can pay your entire bill with a Verizon gift card, once billed, entirely, and not lose your auto pay savings. Gift Cards | Verizon