Love the hair
What i do is pay my cards off a week before the due date then i wait a day or 2 after my due date has passed charge 1 or 2% by this time my monthly statement is sent to the Credit bureaus and it makes my credit score jump up 4 to 5 points every time
I find another big benefit of getting in the habit of prepaying all accounts is that I start to think of the statement date as the 'due date'. Because of that, if I space out and end up paying 'late', I'm not really late and still have weeks to pay off the balance within the grace period. Helps keep me far, far away from ever making 'real' late payments (which really tank one's credit score, for a long, long time).
Did he say fake-o vs fico🤣
I think FICO 10 will punish high utilization even more. Both Equifax and Transunion are moving to a model of credit scoring that uses the LAST 24 months of data and specifically the last 6-12 months of balances, utilization and your payment history. For example, your score will take less of a hit if you happen to have a $3000 balance on a $5000 card (60% utilization) IF you make fairly large payments. If you are making only the minimum, then its going to tank you by about 30-40 points depending on your profile. even more the closer you are to the limit.
My score went -50 after getting my amex gold 😫
I have a question. Is it bad that I prepay the full balance before the statement closes? By that I mean I pay off the balance as soon as it's processed. Most of my cards report 0% utilization because of this habit. Should I leave a little bit of balance so my utilization is somewhere around 1 to 5%?
Does AMEX business card report utilization on personal credit like capital one or not?
Currently sitting at 753 FICO. I like to keep my utilization between 1-3%, no balances, no late payments, no black marks.
Thanks for explanation and suggestions. My score went up almost 70 points in one month. Thank you so much!
I pay the statement balance as soon as I see a balance due. Got me from a 660 CS to a 831 in about a year.
I had to push my usage to about 27% and lost about 30 points. After I got it paid down a few months later it went up 30 points more than it was before that.
You are so right!
Thanks Sebby, for explaining how financial institutions look at credit utilization 👍🏽
Do any of the business credit cards offer balance transfers?
Do the biz cards require an EIN?
I woke up to a 31-point TransUnion credit score increase this morning!! 700 on the dot after disputing hard inquiries on my file. I'm still in shock, lol.
We pay our balance daily. That way whenever they decided to snapshot our account, it will in general be low.
I've had my FICO score at over 800 for a few years now. I can't imagine it being lower.
Quick question: Are you able to get a retention offer on the Altitude Reserve every year?
I pay of my card before report date.
I like your hair cut, its looks good I cut my own hair too
Utilization was 16% 748 cs, paid down cc balance to 5% cs dropped to 685 no bad marks…i do not understand 😕
American Express is the worst card to have in many ways. They lowered my credit limit from 25k to 8k in the blink of an eye this year. I had spent 2k on my card at having my Lexus serviced (yes, they occasionally break down, ugh!) at a Lexus dealership and within days my entire credit score went down due to the effect of the utilization of my entire creditworthiness. It was like a domino affect. Credit is all interconnected, so my Fico score dropped about about 50 points. It showed my utilization of almost 100 percent on my AM/EX and all of this happened just days before the corona-virus hit. I hope to be back to normal sometime around Christmas, but I will certainly think long and hard before pulling out that American Express card again. I also should add that Am/Ex is well known here in the U.S., but not necessarily around the world. For travel, security and other benefits, I think, your much better off using Visa/MC.
Lol, I just accidentally did this too. Opened a BBY credit card to take advantage of their 0% financing for 24 months and immediately maxed the card out for the TV I was buying. Took my credit score down from 803 to 754. Wack yo.
Hair looks ridiculous why do you guys think this shaving up the side looks attractive…..it looks AWFUL
I have maxed out my credit card this month. Twice. And today's the 4th. But I pay it as soon as they process the transaction. I only have a $3000.00 credit limit though so it's not hard to do.
wow u baller lmao.
Sebby I just got new windows for my house. They gave me 0% for 25 months. Its a 5,900 credit limit and the windows were 3,700. Should I pay it down faster even though I have 0%
It's interesting both of you just covered this topic. I nearly maxed out 4 of 6 cards. Another one was around 65% and the last one still had a bit of a balance. My utilization sky rocketed, but I knew my score was going to drop doing so. I was worried that with covid and my sudden high high balance, it would bring too much attention and they would start limiting me. It never happened and I suspect it's because I've made some large purchases in my previous job, to the point I got credit limit increases. I invested a lot of money (well not my money I guess) into a business, and I knew I would get the money to pay my cards before the due date, so it was a free short term loan. Don't do this unless you know you will be able to pay and are willing to take the risk. I think my score dropped around 80 or 90 points, but it's back to normal now that I got everything paid off.