Building credit with CC's. OK to let all report $$

[MidnightJester]

I know that the utilization is only temp and resets when all paid off. With that in mind if I wasnt going for more CC's or Credit. It should be fine to let all 4 of my cards 1 old and 3new report some balance?? I am afraid if I dont report a balance on my new Chase and AMEX they might not report first month to the 3 CRA's. What is your opinion?? I was originally going to pay off before statment cuts on the 2 cards but I worrry about them not reporting

[-NewGuy-]

---

@MidnightJester wrote:

I know that the utilization is only temp and resets when all paid off. With that in mind if I wasnt going for more CC's or Credit. It should be fine to let all 4 of my cards 1 old and 3new report some balance?? I am afraid if I dont report a balance on my new Chase and AMEX they might not report first month to the 3 CRA's. What is your opinion?? I was originally going to pay off before statment cuts on the 2 cards but I worrry about them not reporting

---

If you aren't going to be apping for anything in the near future then don't worry about it. The whole 'all cards zero except one between 1-9%' tactic isn't something you need to worry about unless you are apping soon (or unless you always want your score as high as possible, which some do). However, as you said, UTIL has no memory and it only takes a month to prep your accounts for apping.

[liveandlearn2014]

---

@-NewGuy- wrote:

---

@MidnightJester wrote:

I know that the utilization is only temp and resets when all paid off. With that in mind if I wasnt going for more CC's or Credit. It should be fine to let all 4 of my cards 1 old and 3new report some balance?? I am afraid if I dont report a balance on my new Chase and AMEX they might not report first month to the 3 CRA's. What is your opinion?? I was originally going to pay off before statment cuts on the 2 cards but I worrry about them not reporting

---

If you aren't going to be apping for anything in the near future then don't worry about it. The whole 'all cards zero except one between 1-9%' tactic isn't something you need to worry about unless you are apping soon (or unless you always want your score as high as possible, which some do). However, as you said, UTIL has no memory and it only takes a month to prep your accounts for apping.

---

Midnight - thanks for asking this question...I wondered the same thing, also wanting to create a history of usage on new cards in case it may help encourage auto-CLIs in the future.

NewGuy - thanks for clarifying!  

[MidnightJester]

I have total belief that both usage(heavier the better) and reporting balances is key to both CLI(SP and HP) Auto Luv and Self-Initiated luv. Also key to pushing credit scores higher FICO or Internal Bank wise. I assume this works for both Clean and not so clean credit files.

But for 100%clean credit files it works wonders to push Credit Limits higher. in year and half I have pushed my CL sky high with discover by heavy usuage and paying before and after statements cut. I have belief if you arent going for (new credit or current high score) It is good to ocasionally have high utilization 40-70% for a month on each and all cards if you can pull it off. Have to pay it down within a month(2 at the most). Internally I am sure all CC's record what kind of money you throw their way. Both in total amounts and in times a month, and finally maximum payment amount.

[Anonymous]

---

@MidnightJester wrote:

I know that the utilization is only temp and resets when all paid off. With that in mind if I wasnt going for more CC's or Credit. It should be fine to let all 4 of my cards 1 old and 3new report some balance?? I am afraid if I dont report a balance on my new Chase and AMEX they might not report first month to the 3 CRA's. What is your opinion?? I was originally going to pay off before statment cuts on the 2 cards but I worrry about them not reporting

---

As others have said, utilization has no memory.

However, letting high balances report before PIF can increase your AA risk, and it pays to be aware of how your credit may look to potential lenders and others who pull your reports.

[A_Noob]

I have 2 cards and I let both report a balance (one being $10/$500 and the other reporting $1/$2500) and I lost 19 points when the second one reported.

[MidnightJester]

Yea having all 2cards(all your cards) report is def a temp negative on score for all cards reporting a balance(it is only temporary) and I think you might also lose some points for 0% Utilization. your 11/3000 balance on some score cards gets rounded down to 0% I think.

[A_Noob]

Well then I'll have to let the one with the $2500 balance report around $30 or so since that is the one that reports to all 3 bureaus.

[MidnightJester]

For the next 3-6 months my mission is to build internal scores with the new Banks I now carry Credit Cards with  (Barclays,Amex,Chase). It will be interesting to see how much my scores will go down from letting all 4/4 cards of mine report balances with a total utilization of around 20%. The new Cards will be PIF a few days after statements cut. WIll repeat that to the best of my ability for a few months then switch which cards report a 0 balance as I aproach 6 month statement cuts to prep for hopfull Auto CLI from barclays and chase. Somewhere in thre middle a 3xCLI for AMEX will be worked in.

IF YOU ARE GOING FOR CURRENT HIGH CREDIT SCORES-- my method will not be good for you : )

[MidnightJester]

One weird and hard thing about the internal bank process and scoring with the cards I hold. My Barclays "RING" and AMEX card want oppisite things for CLI's. WIll be trying to do both at once but I will try. RING wants balance carrying and AMEX wants no Balance carrying.