Why can't you pay more than your balance with some CC companies?

[Anonymous]

My mother went out-of-her-way to tell me I'm not special. I can relate (Seinfeld reference)

https://getyarn.io/yarn-clip/dded52d5-e86a-4b27-9701-fc170eba7148#BkexitXowjB.copy

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@Anonymous wrote:
I'm starting to feel special for the first time in my life, having a Wells Fargo Amex

[Anonymous]

rsmy1234 Believe the no revolving balance penalty normally is much more than a few points. Likewise, having all accounts with a balance is also a ding, but to tell you how much depends on scorecard, as well.

Considering your scores are already so high, not to mention your scorecard, you probably have some buffer interplay and will fail to see changes as large as people with other scorecards.

[Anonymous]

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@Anonymous wrote:
rsmy1234 Believe the no revolving balance penalty normally is much more than a few points. Likewise, having all accounts with a balance is also a ding, but to tell you how much depends on scorecard, as well.

Considering your scores are already so high, not to mention your scorecard, you probably have some buffer interplay and will fail to see changes as large as people with other scorecards.

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You're saying reporting 0 balances every month will be more than a few points off of your scores? I've heard having at least 1 reporting a balance is optimal (note that reporting a balance is not the same as carrying a balance, which I don't do unless at 0%).  I know reporting a lot of accounts with balances dings a little, because every CR I run, the first item that has the most impact on my score is "Too many accounts reporting balances".

Yes, you are correct. Often times when I open a new account, my score goes up. And I've even found a HP to drop my score 1 point and would recover the next CR I pull 7 days later (of course it could have been a change in overall balances that pulled it up a point).

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
rsmy1234 Believe the no revolving balance penalty normally is much more than a few points. Likewise, having all accounts with a balance is also a ding, but to tell you how much depends on scorecard, as well.

Considering your scores are already so high, not to mention your scorecard, you probably have some buffer interplay and will fail to see changes as large as people with other scorecards.

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You're saying reporting 0 balances every month will be more than a few points off of your scores? I've heard having at least 1 reporting a balance is optimal (note that reporting a balance is not the same as carrying a balance, which I don't do unless at 0%).  I know reporting a lot of accounts with balances dings a little, because every CR I run, the first item that has the most impact on my score is "Too many accounts reporting balances".

Yes, you are correct. Often times when I open a new account, my score goes up. And I've even found a HP to drop my score 1 point and would recover the next CR I pull 7 days later (of course it could have been a change in overall balances that pulled it up a point).

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All cards at zero can be a massive penalty. 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/All-cards-at-zero-32-37-points/td-p/5566749

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:
rsmy1234 Believe the no revolving balance penalty normally is much more than a few points. Likewise, having all accounts with a balance is also a ding, but to tell you how much depends on scorecard, as well.

Considering your scores are already so high, not to mention your scorecard, you probably have some buffer interplay and will fail to see changes as large as people with other scorecards.

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You're saying reporting 0 balances every month will be more than a few points off of your scores? I've heard having at least 1 reporting a balance is optimal (note that reporting a balance is not the same as carrying a balance, which I don't do unless at 0%).  I know reporting a lot of accounts with balances dings a little, because every CR I run, the first item that has the most impact on my score is "Too many accounts reporting balances".

Yes, you are correct. Often times when I open a new account, my score goes up. And I've even found a HP to drop my score 1 point and would recover the next CR I pull 7 days later (of course it could have been a change in overall balances that pulled it up a point).

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All cards at zero can be a massive penalty. 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/All-cards-at-zero-32-37-points/td-p/5566749

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Really? That might have to be my next test. I can't see losing 30 points due to 0 CC balances, but maybe I will.

[simplynoir]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:
rsmy1234 Believe the no revolving balance penalty normally is much more than a few points. Likewise, having all accounts with a balance is also a ding, but to tell you how much depends on scorecard, as well.

Considering your scores are already so high, not to mention your scorecard, you probably have some buffer interplay and will fail to see changes as large as people with other scorecards.

---

You're saying reporting 0 balances every month will be more than a few points off of your scores? I've heard having at least 1 reporting a balance is optimal (note that reporting a balance is not the same as carrying a balance, which I don't do unless at 0%).  I know reporting a lot of accounts with balances dings a little, because every CR I run, the first item that has the most impact on my score is "Too many accounts reporting balances".

Yes, you are correct. Often times when I open a new account, my score goes up. And I've even found a HP to drop my score 1 point and would recover the next CR I pull 7 days later (of course it could have been a change in overall balances that pulled it up a point).

---

All cards at zero can be a massive penalty. 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/All-cards-at-zero-32-37-points/td-p/5566749

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Really? That might have to be my next test. I can't see losing 30 points due to 0 CC balances, but maybe I will.

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You may not lose as many as 30+ pts but you will lose points it's just how FICO rolls

[Anonymous]

How many points you lose depends on what scorecard you are on. It can be anywhere from 13 to 37 points apparently.

Personally for me it’s about ~15 points per CRA, but I’ve got a clean old thick profile.

And I promise you you did not get any points for a hard inquiry. It came from something else. And yes, at times when you get a new card it will increase your score potentially due to lowered utilization due to increased aggregate CL. Many factors can come into play.

[Anonymous]

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@Anonymous wrote:
How many points you lose depends on what scorecard you are on. It can be anywhere from 13 to 37 points apparently.

Personally for me it’s about ~15 points per CRA, but I’ve got a clean old thick profile.

And I promise you you did not get any points for a hard inquiry. It came from something else. And yes, at times when you get a new card it will increase your score potentially due to lowered utilization due to increased aggregate CL. Many factors can come into play.

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I guarantee it wasn't 13 points. It was around 1 to 2 points. I checked my score as soon as I could afterward. The last HP was an Experian HP only and saw the change. After that, the next report was a +1 or +2 and was back to around where I started. 

I'm not afraid of HPs or 99.99% utilization on a single card. I lost about 40 on a 99.99 single card util. But it had no effect elsewhere. 

I'm going to try a CLI request on WF soon. If it costs me a HP and a denied CLI,  I'm fine with it. I wasted a HP on Citi CLI and was denied.

Getting a new card might help some with utilization,  but I'm usually less than 5%, and going from 2% to 1% after opening a new card won't make much difference. 

[FinStar]

As the discussion has deviated from the intended OP into other areas that would be more suitable for Understanding FICO Scoring, this thread has run its course and is now closed to new messages.