Amex Plan it Feature and Credit utilization rate.

[Brian_Earl_Spilner]

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@DollyLama wrote:

Very interesting Brian! You mind sharing the utilization percent (aggregate) you were currently reported when you received the decline, and if you were even making twice the amount due on reported balances?  Or had in the last 12 mos made a big purchase on a card and impacting one card's utilization?

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I don't remember, probably 50-60%. It might be in the thread I made about it. I didn't have a large purchase and I always pay at least double the minimum. Typically, I pay triple if I don't outright pay it off. I was carrying balances because of unexpected expenses, but as you can see in my sig, that amount is pretty trivial, especially in relation to my income and typical monthly spend.

[Brian_Earl_Spilner]

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@Anonymous wrote:

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@dynamicvb wrote:

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@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.

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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.

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If you pull your TransUnion from annualcreditreport, it will have trended history from some issuers like Capital One. Capital One reports my balance, scheduled payment, high balance, past due status as well as remarks for that month. The one I pulled in January has that information listed from 7/2016 to 12/2018. 

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Exactly. This also goes back to VantageScore. Fico has really begun jumping on the trended data bandwagon in the last couple of years, but VS has been providing 2 years of history for a while. I'm willing to bet that trended data is a huge factor in why the score varies from fico so wildly. 

[Anonymous]

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@dynamicvb wrote:

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@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.

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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.

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If you pull your TransUnion from annualcreditreport, it will have trended history from some issuers like Capital One. Capital One reports my balance, scheduled payment, high balance, past due status as well as remarks for that month. The one I pulled in January has that information listed from 7/2016 to 12/2018. 

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Exactly. This also goes back to VantageScore. Fico has really begun jumping on the trended data bandwagon in the last couple of years, but VS has been providing 2 years of history for a while. I'm willing to bet that trended data is a huge factor in why the score varies from fico so wildly. 

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I mean trended data makes a lot of sense, especially when dealing with people like us here on MF who hack the algorithms by micromanaging what posts — the payments I make are always posted in the trended data, even when I didn’t have a balance, so issuers looking at my Capital One cards know exactly how much I spend whether I let it report or not. 

[Anonymous]

That is some very interesting DP's, i wonder what amount above the minimum they're expecting you to pay monthly? My Discover for example has a $4100 balance, with $84 minimum. But I pay roughly 4.5 times the minimum each month so that it's paid back before the 0% expires.

Though I I'm also nowhere near 50% utilization.

I wonder if only paying twice the minimum is required to satisfy them?