Would letting a balance report hurt my scores?

[Madyun1982]

Hello everyone..
With the holidays coming up. I wanted to take advantage of Discover's 5% cash back for Walmart Amazon and Target.. I was looking to spend close to 1,000. My current credit limit with Discover is 14,500 at 0% until May.
I also have a personal loan with a balance of 500.. All my accounts are at 0 right now. Except discover.. carrying a 50 balance on the card.
FICO scores Ex 690 Trans 710 Eq 789
1 late from years ago on a closed now paid student loan.
Just wondering how much of a score drop I'll see if I pay the 1,000 off over time
Disc 14,500
Disc 2,200
Capital 9,000
Capital 1450
Walmart 5,500
PayPal extras 2,000
Barclay's 3,500
Target 2,600
Neiman Marcus 14,000
Penfed 5,000
Nfcu 1,500

[tcbofade]

If all of those other accounts are reporting a zero balance, I'd anticipate no score change at all.

You won't get anywhere near 8.9% individual OR aggregate utilization.

I think you're fine.

Good luck!

[Madyun1982]

Thank you.. I was worried about my score dropping.

[tcbofade]

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@Madyun1982 wrote:
Thank you.. I was worried about my score dropping.

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You're welcome. 

Just to be clear, you are concerned about Fico scores, correct?  Your Fico scores won't change.

Vantage scores might... but nobody cares...  

[Madyun1982]

😂😂😂 Yes my Fico.. Thanks to this site. I learned to pay my vantage score no mind.

[SouthJamaica]

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@Madyun1982 wrote:
Hello everyone..
With the holidays coming up. I wanted to take advantage of Discover's 5% cash back for Walmart Amazon and Target.. I was looking to spend close to 1,000. My current credit limit with Discover is 14,500 at 0% until May.
I also have a personal loan with a balance of 500.. All my accounts are at 0 right now. Except discover.. carrying a 50 balance on the card.
FICO scores Ex 690 Trans 710 Eq 789
1 late from years ago on a closed now paid student loan.
Just wondering how much of a score drop I'll see if I pay the 1,000 off over time
Disc 14,500
Disc 2,200
Capital 9,000
Capital 1450
Walmart 5,500
PayPal extras 2,000
Barclay's 3,500
Target 2,600
Neiman Marcus 14,000
Penfed 5,000
Nfcu 1,500

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No score drop at all.

[Madyun1982]

Thanks for the reply..
I'm gonna try my best to not going over 1,000 in spend. Hopefully with black Friday I won't.. Lol

[Trudy]

UTL thresholds on individual and separately, AGG revolvers is one thing that can impact your score.  But as noted above, if only 1 revolver reports a balance then you should see no negative score impact based on the amount you noted for that card and the total # of accts you have not reporting a balance.  Doesn't cross a threshold that should negatively impact your score. But note that in addition to those known thresholds, # of accounts reporting compared to the # of accts you have is another factor that could cause a score change.

I have a total of 13 open accts, 2 are loans (MTG and auto).  This will always represents 2 accts reporting.  When I have 3 CC also reporting (total of 5 accts reporting a balance) I see a ding in my score on a number of score models.  4 or less accts reporting seems to be my sweet spot based on the # of accts I have. 3 accts reporting is perfect for my MTG scores, which = AZEO.

[FireMedic1]

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@Madyun1982 wrote:
Thanks for the reply..
I'm gonna try my best to not going over 1,000 in spend. Hopefully with black Friday I won't.. Lol

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You can spend all you want. (Ooops may have caused a swipe monster) Pay it down before statement cut date. It's whats reported that matters. So you can spend $1500 now.

[itspaul]

Here was my recent situation

Barclays card $1000 CL, $700 balance, PIF, 6 point gain on FICO 8

Following month:
Marrick Bank $3100 CL, $2800 balance, paid down to $560, no change in score