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Credit increase question

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Valued Contributor

Re: Credit increase question

 


@Remedios wrote:

Call me crazy, but if OP only has one revolving account, there is no possibility of AA by other lenders. 

They can use card naturally, wait for the statement to cut, then pay.  With a single card, individual and aggregate utilization are one and the same. Staying under 28.9% would work just as well without micromanaging every penny 

 

I understand the fear of balances early in rebuild, it's normal and natural that rebuilders want to be on their best behavior,  but I sometimes feel we traumatize everyone with AZEO/Report Small Balance.

 

Use card(s) and pay it on time (set up autopay as a back up). Micromanage before important apps. 

 

Just my several cents lol 


I agree with you regarding the push of AZEO & balance micromanagment -- neither are necessary for regular credit maintance and OP will realize that over time as most rebuilders do.   I always try to refrain from pushing AZEO and suggest it as a pre-app point booster method only.   There was no advocation for, or mention of, AZEO in this thread (not even sure if OP knows what AZEO means) --- only advising the OP not to let the card to report a $0 balance due to the 'no revolving usage' penalty - as OP's plan was to let their current $0 balance report in effort to acquire a score increase.   

 

As for reporting a small balance, that was suggested only to avoid it reporting $0 given the statement is due to cut on the 12th of this month.     Now that OP has increased their secured limit to $2000, they should be able to use the card naturally and let it report with little to no concern about high util; but prior to their increasing to $2000, their limit was only $300 - and the card had a $286 balance, so util was reporting at 95%.   If their limit was going to continue at $300, reporting 'natural' balances would likely result in consistently high util. so balance management would be advised in that case.     

 

My earlier post did mention keeping balances below 8.9% of their limits (when I'd usually advise below 28.9% for individual util) -- I said this because OP appears to be seeking the max possible point boost; and because, in this specific case, individual and aggregate are equal given the single card, below 8.9% is where the OP needs to be for optimal scoring.   

 

But generally speaking, I'm with you 100%!  Folks need to chill a bit on hyping AZEO and micromangment.  'Normal' folks use their cards regularly and pay their balances monthly with no conern for (or ideas about) util or how many balances are reporting and they do just fine...   

 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 10/01/2019: EX 747 ✦ EQ 728 ✦ TU 756
Current FICO 9s | 10/01/2019: EX 765 ✦ EQ 765 ✦ TU 758
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 760s


My AAOA: 2.8 years not incl. AU / 2.11 years incl. AU
My AoOA: 6.8 years not incl. AU / 8.8 years incl. AU
Report Status: Clean

Tending my Garden til 2/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 11 of 23
Community Leader
Mega Contributor

Re: Credit increase question


@thornback wrote:

 


@Remedios wrote:

Call me crazy, but if OP only has one revolving account, there is no possibility of AA by other lenders. 

They can use card naturally, wait for the statement to cut, then pay.  With a single card, individual and aggregate utilization are one and the same. Staying under 28.9% would work just as well without micromanaging every penny 

 

I understand the fear of balances early in rebuild, it's normal and natural that rebuilders want to be on their best behavior,  but I sometimes feel we traumatize everyone with AZEO/Report Small Balance.

 

Use card(s) and pay it on time (set up autopay as a back up). Micromanage before important apps. 

 

Just my several cents lol 


I agree with you regarding the push of AZEO & balance micromanagment -- neither are necessary for regular credit maintance and OP will realize that over time as most rebuilders do.   I always try to refrain from pushing AZEO and suggest it as a pre-app point booster method only.   There was no advocation for, or mention of, AZEO in this thread (not even sure if OP knows what AZEO means) --- only advising the OP not to let the card to report a $0 balance due to the 'no revolving usage' penalty - as OP's plan was to let their current $0 balance report in effort to acquire a score increase.   

 

As for reporting a small balance, that was suggested only to avoid it reporting $0 given the statement is due to cut on the 12th of this month.     Now that OP has increased their secured limit to $2000, they should be able to use the card naturally and let it report with little to no concern about high util; but prior to their increasing to $2000, their limit was only $300 - and the card had a $286 balance, so util was reporting at 95%.   If their limit was going to continue at $300, reporting 'natural' balances would likely result in consistently high util. so balance management would be advised in that case.     

 

My earlier post did mention keeping balances below 8.9% of their limits (when I'd usually advise below 28.9% for individual util) -- I said this because OP appears to be seeking the max possible point boost; and because, in this specific case, individual and aggregate are equal given the single card, below 8.9% is where the OP needs to be for optimal scoring.   

 

But generally speaking, I'm with you 100%!  Folks need to chill a bit on hyping AZEO and micromangment.  'Normal' folks use their cards regularly and pay their balances monthly with no conern for (or ideas about) util or how many balances are reporting and they do just fine...   

 


I agree with you completely. It was not a  criticism directed at anybody in this thread, just a thought really 

 

It's something I wish I'd advocate for more often to pay on time, set up auto pay, dont overspend, manage balances when they start looking not so pretty.  I find myself more focused on scoring than necessary Smiley Frustrated

 

 

 

 

EX 759 EQ 774 TU 753


Message 12 of 23
Valued Contributor

Re: Credit increase question


@Remedios wrote:


I agree with you completely. It was not a  criticism directed at anybody in this thread, just a thought really 

 

It's something I wish I'd advocate for more often to pay on time, set up auto pay, dont overspend, manage balances when they start looking not so pretty.  I find myself more focused on scoring than necessary Smiley Frustrated

 


Oh, I didn't take it as criticism at all (sorry if I came off that way) --   my lengthy explanation was really more for OPs sake to avoid any confusion that may arise due to the difference stances within our posts.   I think 'using credit naturally' is a conclusion rebuilders will reach in their due time.  The paranoia of screwing up again is high... as is the obsession over achieving high scores for the first time ever or in years;  most will want to do whatever they can to prevent the former and acquire the latter.    I started to move passed that over  this past year;  I currently have 4/9 cards reporting a balance (because I use those 4 regularly), overall util is ~12% because I just let the balances report and I really don't care that my scores are a bit lower because of it  - I will, however, still pay down a silly-high balance before it reports.    I still obsess over my scores a bit too though -- even with higher-than-optimal util;  I check my EX score daily and my others monthly because I want to watch them rise due to the aging of my young file, analyze the potential causes of changes, gather DPs, etc.; I still review all three credit reports every single day -- I still have some lingering paranoia that something terrible will pop up even though I know all my old debts are paid...  

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 10/01/2019: EX 747 ✦ EQ 728 ✦ TU 756
Current FICO 9s | 10/01/2019: EX 765 ✦ EQ 765 ✦ TU 758
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 760s


My AAOA: 2.8 years not incl. AU / 2.11 years incl. AU
My AoOA: 6.8 years not incl. AU / 8.8 years incl. AU
Report Status: Clean

Tending my Garden til 2/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 13 of 23
Valued Contributor

Re: Credit increase question

Just because you’re paranoid doesn’t mean CAs are not out to get you...


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 14 of 23
Valued Contributor

Re: Credit increase question


@ImTheDevil wrote:
Just because you’re paranoid doesn’t mean CAs are not out to get you...

Exactly!!!!  Smiley Very Happy

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 10/01/2019: EX 747 ✦ EQ 728 ✦ TU 756
Current FICO 9s | 10/01/2019: EX 765 ✦ EQ 765 ✦ TU 758
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 760s


My AAOA: 2.8 years not incl. AU / 2.11 years incl. AU
My AoOA: 6.8 years not incl. AU / 8.8 years incl. AU
Report Status: Clean

Tending my Garden til 2/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 15 of 23
Community Leader
Mega Contributor

Re: Credit increase question


@thornback wrote:

@Remedios wrote:


I agree with you completely. It was not a  criticism directed at anybody in this thread, just a thought really 

 

It's something I wish I'd advocate for more often to pay on time, set up auto pay, dont overspend, manage balances when they start looking not so pretty.  I find myself more focused on scoring than necessary Smiley Frustrated

 


Oh, I didn't take it as criticism at all (sorry if I came off that way) --   my lengthy explanation was really more for OPs sake to avoid any confusion that may arise due to the difference stances within our posts.   I think 'using credit naturally' is a conclusion rebuilders will reach in their due time.  The paranoia of screwing up again is high... as is the obsession over achieving high scores for the first time ever or in years;  most will want to do whatever they can to prevent the former and acquire the latter.    I started to move passed that over  this past year;  I currently have 4/9 cards reporting a balance (because I use those 4 regularly), overall util is ~12% because I just let the balances report and I really don't care that my scores are a bit lower because of it  - I will, however, still pay down a silly-high balance before it reports.    I still obsess over my scores a bit too though -- even with higher-than-optimal util;  I check my EX score daily and my others monthly because I want to watch them rise due to the aging of my young file, analyze the potential causes of changes, gather DPs, etc.; I still review all three credit reports every single day -- I still have some lingering paranoia that something terrible will pop up even though I know all my old debts are paid...  


 

As eloquent as you are, I wish you'd start a thread about  dangers of  "rebuild anxiety". A lot of posters go through so much stress  over every little thing, and it really does not have to be like that.  If we all shared our stories, people would not think that they are "crazy" or " obssessed". 

I never went through a rebuild, but it took me a long time to let balances report. I was terrified. Two points loss, and I felt like crying.  True story.

 

Again, this is just me, but it would be really great to approach this from various perspectives and reassure as many as we can that there is no one single way of doing things , other than paying on time.  Think of it as multidisciplinary board lol 

 

I would attempt such a task, but I digress so much, it would never get done in a meaningful way. 

 

 

OP, sorry about slight thread highjack 

EX 759 EQ 774 TU 753


Message 16 of 23
Valued Contributor

Re: Credit increase question

^^^ this. I could definitely contribute to it as well.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 17 of 23
Community Leader
Mega Contributor

Re: Credit increase question

I think we should start it 

EX 759 EQ 774 TU 753


Message 18 of 23
Community Leader
Mega Contributor

Re: Credit increase question

Paper, rock, scissors...who's doing it? 

EX 759 EQ 774 TU 753


Message 19 of 23
Valued Contributor

Re: Credit increase question

 


@Remedios wrote:

As eloquent as you are, I wish you'd start a thread about  dangers of  "rebuild anxiety". A lot of posters go through so much stress  over every little thing, and it really does not have to be like that.  If we all shared our stories, people would not think that they are "crazy" or " obssessed". 

I never went through a rebuild, but it took me a long time to let balances report. I was terrified. Two points loss, and I felt like crying.  True story.

 

Again, this is just me, but it would be really great to approach this from various perspectives and reassure as many as we can that there is no one single way of doing things , other than paying on time.  Think of it as multidisciplinary board lol 

 

I would attempt such a task, but I digress so much, it would never get done in a meaningful way. 

 

 

OP, sorry about slight thread highjack 


I appreciate that Smiley Wink  and would be happy to start a thread on it... I think it would be enlightening.   Perhaps the post should also pose a mini-challenge to (re)builders to do one month of "natural reporting" -  on cards with decent / usable limits - so they may see the scoring effects and begin to overcome some of the fear & anxiety associated with letting balances report... 

 

And Yes,  sorry OP for the thread hijack (tho this discussion is useful).

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 10/01/2019: EX 747 ✦ EQ 728 ✦ TU 756
Current FICO 9s | 10/01/2019: EX 765 ✦ EQ 765 ✦ TU 758
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 760s


My AAOA: 2.8 years not incl. AU / 2.11 years incl. AU
My AoOA: 6.8 years not incl. AU / 8.8 years incl. AU
Report Status: Clean

Tending my Garden til 2/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 20 of 23
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