cbr0422

3 Contributions 56 People Helped

Member Since: July 2012

Most Helpful Contribution

How Quickly Should I Pay Off My Credit Cards?

Mar 20, 2015
Helpful to 55 out of 61 people

Certain credit cards do not report actual limits to credit bureaus (like many from American Express and some others) but instead report the balance as the limit; so once the balance is paid (or paid down) the limit they report is lowered. I've even heard of some that will not report (I swear I'm not kidding) to the CRAs at all if you don't have any activity. This can change the "available credit" ratios the credit bureaus use for scoring.  I'm planning to pay mine all off and have one of my recurring charges (Netflix, Hulu, etc) that automatically drafts from each to keep up regular use, and pay after the statement closing date to show a tiny balance to make sure they all report. Other than that, I don't know what else I can do. I have also heard that (other than AMEX) if you have a card that does not report your Credit Limit to the CRAs, you can call and request that they do, and most will oblige. Maybe this will help somebody out there.

Activity (3 Total Contributions)

How Quickly Should I Pay Off My Credit Cards?

Mar 20, 2015
Helpful to 55 out of 61 people

Certain credit cards do not report actual limits to credit bureaus (like many from American Express and some others) but instead report the balance as the limit; so once the balance is paid (or paid down) the limit they report is lowered. I've even heard of some that will not report (I swear I'm not kidding) to the CRAs at all if you don't have any activity. This can change the "available credit" ratios the credit bureaus use for scoring.  I'm planning to pay mine all off and have one of my recurring charges (Netflix, Hulu, etc) that automatically drafts from each to keep up regular use, and pay after the statement closing date to show a tiny balance to make sure they all report. Other than that, I don't know what else I can do. I have also heard that (other than AMEX) if you have a card that does not report your Credit Limit to the CRAs, you can call and request that they do, and most will oblige. Maybe this will help somebody out there.

how long do hard inquiries stay on your report

Feb 20, 2015
Helpful to 1 out of 2 people

Debt to income and pay record doesn't matter to your credit score. Hard inquiries and your new mortgage bringing down your average age of accounts is likely what caused the drop.  But, in a short time, with good payment history, it should go up higher than before.

Capital One® Platinum - EXPIRED OFFER

Apr 09, 2013
This card has been great for me.

I've had this card several months (the 0% intrest period hasn't expired yet).  I haven't had any issues with the card, and wasn't charged an annual fee.  I also didn't have to put money down to secure the credit line.  It was my first credit card in a long time and I was approved with $500 CL.  I've made all my payments on time.  I got another card with similar terms from a different company a few months ago.  My score has gone from 580something to almost 700.  Since the addition of the two cards to my credit report.