Want to know a secret...???
If you have multiple credit cards issued by the same bank, like Bank of American, Chase Bank...consolidate the credit lines into one and only borrow the money or owe the money from that credit card alone, instead of owe the money on several credit cards.
And the bank(credit card company) only report to credit bureau once per month after the statement closing date, by doing this, I made balance transfer (7 days after statement closing date which the bank might already report the account status to 3 credit bureau) to pay off some credit cards then consolidate 3-4 credit lines together to $57,500.00 and leave the credit cards I don't use the credit lines to be just $1,000.00 and let only one card carry high balance...because credit score system only look how many cards that you owe high balance, it doesn't care how much money you owe, so in this case I can owe more money to the bank but still get high credit score from 3 credit bureau (Exp. Eqx. TU)...believe it or not, I made balance transfer from 2 banks total of $121,400.00 and my credit score still go up from 757 to 777. What a shame!!!
I have total of 27 acct. but some of them I have not use for years with zero balance.
If you have American Express card then you can join the credit report(score) monitoring program $11.99 per month, You can see your own 3 bureau credit score, credit history, profile, public records, 3 in 1 credit report, credit summary...
1. In general, the credit report can be used within 60 days depending on which bank that you deal with.
2. Credit score calculated based on different "Model", different "Factor" so even you get your own credit report from different agencies in the same day, you credit score from the same credit bureau maybe different...
3. Normally you can "Control" your credit score to be higher (up), by doing this...use only few credit cards (2-3), if you ever need to owe the balance, just owe 1 or 2 cards and pay off to zero balance on all other cards, consolidate 3-4 credit lines together to one card (if they are issued by the same bank) and use that higher credit lines card only...
4. Credit card company (Bank) only report your credit status once a month, within 7 days after your statement closing day to the credit bureau (Exp-EqX-TU).
5. For those daily credit monitoring program, your credit score on the 3in1 report only update once a month even you pull your own report everyday make No difference, try it for yourself you will see the trick, unless you pay the fee each time to request the "real credit report" from the agency like Mortgage Fax Inc. (Fanny Mae) authorized.
