Credit gurus....payment question

[ELVIS]

nice tip indeed

?????????????????? whoa.

god bless.

[chronical]

If folks here like miles citi has an Aavantage personal and business card both with 50,000 mile sign bonus offers. That's 150,000 AA mile with all 3 offers.

[Roscoe]

very nice tip indeed. aa miles have paid for my italy flight last year, and my flight to prague this year. another 50k would take care of next year too!

They will hit you with the tax value on those miles, FYI

[momo]

very nice tip indeed. aa miles have paid for my italy flight last year, and my flight to prague this year. another 50k would take care of next year too!

[Roscoe]

I didn't day you did. I said for optimal scoring, let only $2 report. The cards that you are not using are what's helping your score. Also, Citi is providing a bankcard 08 enhanced Fico and is in a scale of up to 900 instead of the standard 850 so the 842 Fico is inflated. Discover is providing you a useful score for Transunion and Citi is providing an equifax score that isn't necessarily useless but not apples to apples. Congrats on your excellent credit. Barclays currently has their US airways card that has a 50,000 mile sign up bonus which will be AA miles in the second quarter when the merger completes. They pull Transunion and give sizable limits.

nice tip indeed

[kingjason]

I didn't day you did. I said for optimal scoring, let only $2 report. The cards that you are not using are what's helping your score. Also, Citi is providing a bankcard 08 enhanced Fico and is in a scale of up to 900 instead of the standard 850 so the 842 Fico is inflated. Discover is providing you a useful score for Transunion and Citi is providing an equifax score that isn't necessarily useless but not apples to apples. Congrats on your excellent credit. Barclays currently has their US airways card that has a 50,000 mile sign up bonus which will be AA miles in the second quarter when the merger completes. They pull Transunion and give sizable limits.

Nice tip.

[chronical]

I use one credit card each month for all my expenses. I pay it on the due date (auto pay) and I have a 831 Fico according to discover and 842 FICO according to citibank. I always pay the entire statement balance on the due date. You don't have to pay before the statement creates to get a good credit score. Just pay the right amount and on time.

I didn't day you did. I said for optimal scoring, let only $2 report. The cards that you are not using are what's helping your score. Also, Citi is providing a bankcard 08 enhanced Fico and is in a scale of up to 900 instead of the standard 850 so the 842 Fico is inflated. Discover is providing you a useful score for Transunion and Citi is providing an equifax score that isn't necessarily useless but not apples to apples. Congrats on your excellent credit. Barclays currently has their US airways card that has a 50,000 mile sign up bonus which will be AA miles in the second quarter when the merger completes. They pull Transunion and give sizable limits.

[Barbie]

For optimal scoring allow $2 to post on one card. You are correct that 0% is worse than 1 to 10%. Most people don't know that the balance in your statement is what is reported. So to really take control of the utilization that is reported and ultimately used for scoring purposes, then you must pay before your statement cuts. A person could pay his balance in full every month, the day he opens up the statement but still be penalized since this amount has already been reported and won't be updated until the following statement is cut

I use one credit card each month for all my expenses. I pay it on the due date (auto pay) and I have a 831 Fico according to discover and 842 FICO according to citibank. I always pay the entire statement balance on the due date. You don't have to pay before the statement creates to get a good credit score. Just pay the right amount and on time.

[chronical]

I'm confused, are you saying my statement is incorrect, or that it should not hurt you?

I read your statement to say that too much available credit can negatively affect your credit score. That statement is incorrect. FICO scoring doesn't care how much available credit you have. Utilization counts for 30% of your score. So in an indirect way, having more available credit actually helps you. Assume to credit profiles are identical in age and payment history.
And one person has a $1000 balance and $2000 in total limits, he is at 50% utilization and would suffer a substantial hit to his score.

while if the second person had the same $1000 balance and instead, had $100,000 in total limits, the affect on his score would be minimal

[SSMAN]

Pay it off. The more available credit you have, the better your score will be.

This, good credit score is based on how long u have had the credit card, an the available amount of unused credit. So dont cancel cards. The longer u own them, the more it will help your score

[BMCSean]

Bro!

[Silverback]

dying with available credit is like actually only sleeping with a stripper and not fucking her

[slow99]

I'm confused, are you saying my statement is incorrect, or that it should not hurt you?

He's saying your statement is incorrect.

[Chili]

This is wrong and should be dismissed

I'm confused, are you saying my statement is incorrect, or that it should not hurt you?

[CWO]

Your guesses mean nothing. It depends on his overall credit file, the total limits he has, the limit of the card that has the balance and what % that balance is in relation to that one card AND to his overall all limit. Utilization is huge for scoring purposes

I pulled those numbers out of my ass. Of course I have no idea what the actual numerical increase would be. My statement was more based on a single payment increase as opposed to a score increase based on two payments.