It's going to be maxed out and go down as you pay it, just like if you making minimum payments. Also, the plan-it payments will raise your debt to income ratio because your monthly payment will be higher. Not a big deal unless you plan to apply for credit during that time.
A lot of lenders are looking at trended data now so they'll see how much you owe, what your minimum is, and how much you're paying on those cards. I was recently declined by NFCU for a CLI and new card because the balances on my other cards were too high and my payments weren't high enough on a 12 month average. And not too long ago, someone posted about another big bank that just sent a decline letter citing trended data. So, utilization will be a big factor, but it seems banks are starting to look at how much you should be paying vs how much you're really paying, now.
@Brian_Earl_Spilner wrote:A lot of lenders are looking at trended data now so they'll see how much you owe, what your minimum is, and how much you're paying on those cards. I was recently declined by NFCU for a CLI and new card because the balances on my other cards were too high and my payments weren't high enough on a 12 month average. And not too long ago, someone posted about another big bank that just sent a decline letter citing trended data. So, utilization will be a big factor, but it seems banks are starting to look at how much you should be paying vs how much you're really paying, now.
This is interesting but not sure how they would really know what is going on with another lender’s card. Sure they could soft pull you and capture the balance every month, but how would they know what was paid versus what was charged? I’m on a device right now where I can’t see my reports, but I’m pretty sure none of my cards show the payment, maybe the minimum payment but not what I actually pay on my cards.
Full balance is reported.
