@Anonymous wrote:
My EX jumped up 18 points and the others roughly 10!
Does anyone know why this happens?
In addiion to the above it seems like you're assuming causality here. There are certainly other potential changes to your reports that could have impacted scoring as well but we don't have access to the details of your reports. With any scoring change you have to carefully review reports from before and after the change to determine the cause. What specific scoring model are you referring to?
@Anonymous wrote:
It makes so much sense now though. Of course they want to see that you're paying down balances etc.
It's really your reported utilization and number of balances that matter. The general advice is do not exceed 30% -- both individual and overall. However, ideal is much lower. Lower is generally better as long as you don't have all 0 balances reporting. To optimize -- i.e. when applying for credit and looking to eke out every possible point -- allow only one balace to report at 10% or less.
@Anonymous wrote:
I have been obsessed over my credit scores for about 6 months now and not once did I read this anywhere.
It's commonly discussed here. I know I post about the difference between reporting and carrying and report versus due date quite a bit here.
As far as payments are dates are concerned:
- Pay at least the minimum due by the due date to keep your account current.
- Pay the statement balance in full by the due date to avoid incurring interest and debt.
- Pay by the report date (statement date for most cards) to reduce the reported balance. If not paid to a 0 balance to allow a balance to reprot then pay the remainder of the statement balance in full by the due date.
@Anonymous wrote:
I am pretty sure I understand now. But here is a question: Say if Chase reports $50. I pay the $50 after it reports, and next cycle it also reports $50 as I want it to report something. Do they see the fact that I have paid my credit card or do they just see X amount?
They see the same info that you see on your reports. They see the limit, the reported balance, payment amount in some cases, high balance and payment history.
