account closure

[red259]

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@Anonymous wrote:
The 1% answer is not always the solution for everyone.

It is impractical and a waste of credit.

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+1 I gave up trying to maintain 1% util. Its way too much of a hassle.I still PIF by the actual due dates but life it too short to micro-manage util. Maybe if I had an app cycle coming up. 

[Anonymous]

How is using your whole CL letting it report and PIF overextension?

[kdm31091]

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@Anonymous wrote:
How is using your whole CL letting it report and PIF overextension?

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Typically using your whole limit can signal risk to an issuer. Whether that makes sense or not, that's how it is.

While people like us like rewards and love the whole "use credit instead of debit/cash" thing it doesn't mean the issuers want you to max out your cards. If you are going to make a huge purchase up to a credit limit and can't pay it off (or down significantly) right away you might want to rethink it, only put half on the card or something.

[Anonymous]

Or split it between cards.

[red259]

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@kdm31091 wrote:

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@Anonymous wrote:
How is using your whole CL letting it report and PIF overextension?

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Typically using your whole limit can signal risk to an issuer. Whether that makes sense or not, that's how it is.

While people like us like rewards and love the whole "use credit instead of debit/cash" thing it doesn't mean the issuers want you to max out your cards. If you are going to make a huge purchase up to a credit limit and can't pay it off (or down significantly) right away you might want to rethink it, only put half on the card or something.

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Except when they give you smaller credit lines to start with, then its somewhat absurd. If I max out a 20k card I can understand their concern. If I max out a 3.7k (assuming this isn't a huge percentage of my overal util) card and have other cards with a 20k credit line that are untouched I would be ticked off if there was AA. I rarely carry balances (except for 0% apr and on those cards I pay like 6x the min payment each month). 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
You give up the grace period.

Might as well negotiate a bigger discount.

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Retailer isn't going to care.  Still a charge to them.  Not the same as cash.

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You would be shocked how many retailers will negotiate on anything over a couple hundred bucks for cash. Often way more than 2-5%. 

[chalupaman]

To the OP, good luck getting that card paid down. I think when you're able to do that, you can always try to call Chase EO and see what they can do for your or if they can reopen the account. Just wanted to say that since there have been a number of people here who have been successful with getting their Chase stuff reinstated even after some AA or an account closure.

[NRB525]

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@kdm31091 wrote:

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@Anonymous wrote:
How is using your whole CL letting it report and PIF overextension?

---

Typically using your whole limit can signal risk to an issuer. Whether that makes sense or not, that's how it is.

While people like us like rewards and love the whole "use credit instead of debit/cash" thing it doesn't mean the issuers want you to max out your cards. If you are going to make a huge purchase up to a credit limit and can't pay it off (or down significantly) right away you might want to rethink it, only put half on the card or something.

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I've run plenty of large percentage, large $ amount BT between various cards, so my experience is the CL are available to take advantage of good offers, provided you can show the ability to pay them off. Suddenly showing a maxed out $20k card is not a good idea if one has been showing only one card with a 1% balance for two years, but that is where the usage pattern, the history of dealing with larger statement balances, helps the bank algorithm to adjust to your actual usage pattern.

[Anonymous]

+1, By tricking your FICOs with utilization tricks you only hurt yourself.

[CreditCuriosity]

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@NRB525 wrote:

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@kdm31091 wrote:

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@Anonymous wrote:
How is using your whole CL letting it report and PIF overextension?

---

Typically using your whole limit can signal risk to an issuer. Whether that makes sense or not, that's how it is.

While people like us like rewards and love the whole "use credit instead of debit/cash" thing it doesn't mean the issuers want you to max out your cards. If you are going to make a huge purchase up to a credit limit and can't pay it off (or down significantly) right away you might want to rethink it, only put half on the card or something.

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I've run plenty of large percentage, large $ amount BT between various cards, so my experience is the CL are available to take advantage of good offers, provided you can show the ability to pay them off. Suddenly showing a maxed out $20k card is not a good idea if one has been showing only one card with a 1% balance for two years, but that is where the usage pattern, the history of dealing with larger statement balances, helps the bank algorithm to adjust to your actual usage pattern.

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Curious if you have had much AA done to you?  From your signature obviously you are carrying quite a bit of balance and I believe I read in another post or maybe this one that at one point you were like 110k in CC debt?  wowzers..   Seems like your profile supports holding big balances more than most, but this might be to you showing patterns of being able to hold them?