An Account Shows a Balance Increase? $12?

[Anonymous]

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@Anonymous wrote:

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plasticman wrote:

CWCID,

The ScoreWatch reasons and alerts can obviously be very confusing, or I am just very confused. Thank you for doing your best to clarify these alerts and what they are most likely referring to!

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They are a conundrum wrapped in an enigma. I just try to set my options really tight so I get any alerts at all. I would much rather SW send me an alert and score once in a while with a potentially bogus reason than absolutely nothing at all! The reasons are frequently nonsense.

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LOL

[Jazzzy]

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@Anonymous wrote:

The term "dormant account" was not used because the account was not dormant. In order for an account to be considered dormant the TL must be unreported for at least six months. If you use the account once every three months to avoid AA by the issuer and the TL is reported you will never have a dormant account! Once an open TL becomes dormant it is removed from the scoring calculation. Therefore the CL on a dormant CC cannot help you with your UTIL.

You also were not "dinged" for the account showing a balance increase. The balance increase triggered a SW alert (due to your settings). Your score was recalculated as a result of the alert and then presented to you. If you look very carefully at the alert it states that the reason proffered is may not actually be the reason why your score changed. SW alerts and the reason suggested within them frequently do not relate.

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I've often wondered about how accurate the "reasons" were for the alerts. One time my score went up about 15 points...and the alert said it may have been because I had an inquiry. Well...no. I should not have tried to read too much into this "account with an increased balance" thing...

That said...do you try to have the same cc show the small balance every month, or do you rotate which one shows the balance?

[Anonymous]

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@LynetteM wrote:

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@Anonymous wrote:

The term "dormant account" was not used because the account was not dormant. In order for an account to be considered dormant the TL must be unreported for at least six months. If you use the account once every three months to avoid AA by the issuer and the TL is reported you will never have a dormant account! Once an open TL becomes dormant it is removed from the scoring calculation. Therefore the CL on a dormant CC cannot help you with your UTIL.

You also were not "dinged" for the account showing a balance increase. The balance increase triggered a SW alert (due to your settings). Your score was recalculated as a result of the alert and then presented to you. If you look very carefully at the alert it states that the reason proffered is may not actually be the reason why your score changed. SW alerts and the reason suggested within them frequently do not relate.

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I've often wondered about how accurate the "reasons" were for the alerts. One time my score went up about 15 points...and the alert said it may have been because I had an inquiry. Well...no. I should not have tried to read too much into this "account with an increased balance" thing...

That said...do you try to have the same cc show the small balance every month, or do you rotate which one shows the balance?

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I have nine CC's. Three report a balance every month (2 BT's (PenFed #2 and Citi) and one legacy balance on a closed card I slowly pay down to keep an old account vital (Chase #2)). The fourth, PenFed #1, is my main card and is always PIF. The rest (Discover, Chase #1, Direct Merchants Bank, Macy's store and Macy's Visa) are rotated and PIF to keep them warm. With all that my reporting UTIL is 8% or so.

[haulingthescoreup]

I have gotten dinged for having an account report a balance after X number of months, even though the card was being used, but PIF'd before reporting. (I think it had gone for 4-5 months without reporting a balance.)

The using a card at least every six months is to keep the CCC happy. The balance reporting is a different animal.

Maddening, isn't it?

[Anonymous]

Every credit card deserves a trip to Blockbuster once a quarter. It's the humane thing to do!

[marty56]

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@Anonymous wrote:
Every credit card deserves a trip to Blockbuster once a quarter. It's the humane thing to do!

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Or Best Buy or the Perth Mint.