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HIghest Balance stat on Credit Reports

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Super Contributor

Re: HIghest Balance stat on Credit Reports

CGID, I do remember that high balance discussion a year or two back - good stuff.

My opinion has always been that a [relatively] high balance is a good thing, so long as your current utilization is low. Conversely, a greater high balance could be a negative if your current utilization is high and your current balance has been hanging out at or near your high balance for some time.

I do think that a hefty high balance can be a favorable look for a Transactor trying to get a CLI on an account that they use heavily. I did this a while back on a CC where I was spending maybe 4k-5k per cycle, but my high balance on the account was maybe 3k on a 12k limit or so. Following a heavy spend cycle, rather than pay down the balance before statement cut I let it be, forcing a 7k-8k high balance to report. I immediately PIF after, but I felt that look could give the lender more of a reason to help me out CLI wise. Arguable if it would/did, but IMO it can't hurt.
Message 11 of 13
Contributor

Re: HIghest Balance stat on Credit Reports


@RobertEG wrote:

The highest balance is reported under the Metro 2 format as field code 12, and is defined in the common credit reporting manual used by each of the big-3 CRAs as the "highest balance ever attained."

It is not limited to only the statement balance.

 

Thus, the answer is that the creditor should use their own records to determine and report the highest balance ever attained on the account, even if higher than the highest statement balance reported to a CRA.


Thank you for the information.  It's always good to get this kind of info.

GoingGold
*UPDATED AS OF 09/09/2019*
EQ: 712 ___ TU: 708 ___ EX: 689
Utlz:1% ___ Old Lates/COs: 2 ___ Collections: 0 ___ Public Records: 0 ___ Last Late: 2.1 yrs ___ AAoA: 7.1 yrs ___ AAoOA: 23.10 yrs

AMEX PLATINUM ___ AMEX GOLD = $3,000 (P.O.T) ___ AMEX BONVOY BRILLIANT = $5,000 ___ AMEX CASH MAGNET = $1,000
CAP ONE VENTURE = $30,000 ___ CAP ONE QUICKSILVER = $3,500 ___ CAP ONE PLATINUM SECURED = $500
BANK OF AMERICA CASH REWARDS = $15,000 ___ BANK OF AMERICA PREMIUM REWARDS = $15,000
DISCOVER IT MILES = $15,000 ___ FIDELITY INVESTMENTS CASH REWARDS = $16,500
**TOTAL OVERALL CREDIT LIMIT = $101,500, or $104,500 if you include the Amex Gold P.O.T option CL.
Message 12 of 13
Contributor

Re: HIghest Balance stat on Credit Reports


@SamBillo wrote:

The "highest balance" is used only for trending data or for a manual credit review. It is not factored into the fico score.

Hope this helps thanks


Yes, thanks so much for the reply.

GoingGold
*UPDATED AS OF 09/09/2019*
EQ: 712 ___ TU: 708 ___ EX: 689
Utlz:1% ___ Old Lates/COs: 2 ___ Collections: 0 ___ Public Records: 0 ___ Last Late: 2.1 yrs ___ AAoA: 7.1 yrs ___ AAoOA: 23.10 yrs

AMEX PLATINUM ___ AMEX GOLD = $3,000 (P.O.T) ___ AMEX BONVOY BRILLIANT = $5,000 ___ AMEX CASH MAGNET = $1,000
CAP ONE VENTURE = $30,000 ___ CAP ONE QUICKSILVER = $3,500 ___ CAP ONE PLATINUM SECURED = $500
BANK OF AMERICA CASH REWARDS = $15,000 ___ BANK OF AMERICA PREMIUM REWARDS = $15,000
DISCOVER IT MILES = $15,000 ___ FIDELITY INVESTMENTS CASH REWARDS = $16,500
**TOTAL OVERALL CREDIT LIMIT = $101,500, or $104,500 if you include the Amex Gold P.O.T option CL.
Message 13 of 13
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