Maxing out Credit Cards.....On purpose?!

[AverageJoesCredit]

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[Girlzilla88]

<B>Update 08/05  soooooo my scores are slowly going back up lol.     I don't know if I have the patience to pay little/little for 2 years so I think in the next month or so I'm going to start making bigger payments....I think it is bothering my OCD more than anything to have that much owed is like *sweats bullets* XD     Plus I know I can ask for my Amex CLI soon and I don't want it to get denied with everything maxed out. 

[CreditInspired]

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@Girlzilla88 wrote:

<B>Update 08/05  soooooo my scores are slowly going back up lol.     I don't know if I have the patience to pay little/little for 2 years so I think in the next month or so I'm going to start making bigger payments....I think it is bothering my OCD more than anything to have that much owed is like *sweats bullets* XD     Plus I know I can ask for my Amex CLI soon and I don't want it to get denied with everything maxed out. 

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Well, it sounds like no AA action happened, so that IS a good sign. 

[Girlzilla88]

I've been making sure regardless of what I use that the next balance always shows lower than the previous balance/statement so I believe that to be helping?!    Not sure

[Anonymous]

I thought the plan was to max out all cards and then immediately pay them off?  From the original post, it sounded like the plan wasn't going to cost you any money at all.  Now it sounds like you're carrying balances (seemingly near-maxed-out ones, too) just for the sake of carrying balances and therefore presumably paying unnecessary interest.  If that was disclosed in your original post/plan, I think you'd have been hard-pressed to find a single member that supported your "test" to be honest.

[CreditInspired]

I don't think a single member who responded did support OPs test. We were against this—warning of possible AA. I am surprised though that OP didn’t pay balances off immediately but she did say all cards were at 0% so it’s good she’s not paying interest. But one minor misstep, like missing a payment even by 1 day, could be catastrophic (activating penalty interest).

[Girlzilla88]

Which is why I don't      I haven't missed a single payment on ANY of my items that report including and excluding CC's so I have Exceptional payment history       My original plan was since I knew I wouldn't be touching my credit for a few years to see where the scores would drop to if I did max them all out and how quick it would be to raise them back up if I went according to the '2 year plan' butttttttttt I didn't think about maxing them all out but one  or just maxing one out to see and I stupidly did them all at the same time YES that was a No No I see that now but I'm already in it so I thought to still stick it out......Now I am just itching wanting to do it faster than 2 years because I don't like all my cards showing so high utilization LOL...I know I know a bit back and forth with my plans but yes so I think that will be my current 'new' goal to pay higher payments and not do the 2 years like I originally wanted.

[Anonymous]

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@CreditInspired wrote:
I don't think a single member who responded did support OPs test. We were against this—warning of possible AA. I am surprised though that OP didn’t pay balances off immediately but she did say all cards were at 0% so it’s good she’s not paying interest. But one minor misstep, like missing a payment even by 1 day, could be catastrophic (activating penalty interest).

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Someone on the first page supported it and said "go for it."  If I had responded to the thread I would have supported it as well, assuming the plan of paying everything off immediately was followed if the OP had an otherwise strong profile.  If there were late payments present anywhere (even aged ones) I would have advised against it, but AA from my experience rarely happens only from utilization on an otherwise solid profile. 

[Anonymous]

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@Anonymous wrote:

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@CreditInspired wrote:
I don't think a single member who responded did support OPs test. We were against this—warning of possible AA. I am surprised though that OP didn’t pay balances off immediately but she did say all cards were at 0% so it’s good she’s not paying interest. But one minor misstep, like missing a payment even by 1 day, could be catastrophic (activating penalty interest).

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Someone on the first page supported it and said "go for it."  If I had responded to the thread I would have supported it as well, assuming the plan of paying everything off immediately was followed if the OP had an otherwise strong profile.  If there were late payments present anywhere (even aged ones) I would have advised against it, but AA from my experience rarely happens only from utilization on an otherwise solid profile. 

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I'm the one that supported it because, like I said, I'm drawn to train-wrecks. I've seen this more times than I can count, and at least once with each of my wives. Person buys house, feels 'big money' and needs 'things for house', then buys a bunch of things they can't afford on credit with the intent of paying things off quickly to mitigate the financial impact of the money mismanagement. The decision was made before this thread ever even came into existence.

Unfortunately, the cognitive dissonance that happens between the original mismanagement and the ever continuing 'I'm going to pay my debts on time' doesn't take into account life hiccups or the huge financial loss of the interest paid just to have 'things' sooner. When the 'real' need for credit arises, if it does, there will be no credit left to use, no CLI's available due to having set off all of the alarms, and no one will extend new credit without attaching a ridiculous interest rate to it at best.

I'm sure we'll see plenty of positive updates if the thread doesn't die going forward but have no doubts-the struggle is real on the other end of OP's computer.

[Girlzilla88]

Aha but Alas there is MORE!    XD      I didn't buy a bunch of things for my house although I can easily see why people would do that I am just in the garden club for a few years and figured I would do a little research here on my own to help buy time I know I know let's skip the that was a bad idea XYZ could have happened I get that I do but after I already put somethings on ALL my cards I don't need my CL's they are just there to build over time and I've never missed a payment on ANYTHING so getting backed up and in trouble isn't a concern on my part either      Yes I will keep you all posted how my credit fluctuates it did drop as I expected anyways since I knew it would drop from the home purchase to begin with so I wasn't scared of it dropping just excited to watch it raise again.      Call me crazy and again next time I definitely won't do them all at once but please do not worry as needed the amounts or missing a payment won't happen     I don't put things on my cards I don't have money to back up just in case hard times do come because yes I have been there too before and that feeling SUCKS!!!    I almost lost my Honda because of it (but it is paid off now)      Sorry got side tracked haha but yes I will keep updating here and enjoy the ride :3