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DansDeals Forum => Credit Cards And Finance => Topic started by: Reb Jo on February 16, 2012, 03:00:17 AM

Title: Credit
Post by: Reb Jo on February 16, 2012, 03:00:17 AM
Does it make a deference on your credit if every month, on every card, you spend $1 and pay it? 
Title: Re: Re: Credit
Post by: creditor on February 16, 2012, 03:06:55 AM
Does it make a deference on your credit if every month, on every card, you spend $1 and pay it?
very not specific!
difference vs what?
if you mean vs having a 0 balance, then the ans is NO a statement closing of 0 balance is they same as a statement with 1$ balance, as far as your credit report
Title: Re: Credit
Post by: Reb Jo on February 16, 2012, 03:10:14 AM
is it better for your  credit that you psid something off, or is it the same that its a 0 balance?
Title: Re: Re: Credit
Post by: creditor on February 16, 2012, 03:14:07 AM
is it better for your  credit that you psid something off, or is it the same that its a 0 balance?
PAID what off ? in general your CR only contains statement balances not the date or amount you paid off unless your making a late payment,
a ratio of 5%-10% of your credit used is considered to be the best for your credit
Title: Re: Credit
Post by: Reb Jo on February 16, 2012, 03:15:58 AM
and i dont have any thing to pay off is that the same?
Title: Re: Re: Credit
Post by: creditor on February 16, 2012, 03:27:03 AM
and i dont have any thing to pay off is that the same?
if you dont have anything to pay off thats a 0 balance which is the same as 1$ balance,
but again having a 5-10% ratio 'might' be better
Title: Re: Re: Credit
Post by: AJK on February 16, 2012, 09:38:25 AM
very not specific!
difference vs what?
if you mean vs having a 0 balance, then the ans is NO a statement closing of 0 balance is they same as a statement with 1$ balance, as far as your credit report

-1

Having $1 on your statement not only prevents being shutdown for "inactivity" but according to reports, people with 1% util % have, on average, scores that are 60+ points higher than those with 0%.
Title: Re: Credit
Post by: Dan on February 16, 2012, 11:24:34 AM
-scores that are 60+ points higher than those with 0%.
FICO or FACO? 
Title: Re: Re: Credit
Post by: creditor on February 16, 2012, 12:41:50 PM
-1

Having $1 on your statement not only prevents being shutdown for "inactivity" but according to reports, people with 1% util % have, on average, scores that are 60+ points higher than those with 0%.
-100


FICO or FACO?
+1
on FACO [especially when you look at it through credit carma] they're might be a difference, and even there only when the ratio is from 5%to10% then your score will be higher vs 0% your score will be lower,
HOWEVER on FICO, your wrong, from experience: my wife had 0% ratio for ages on two cards, her FICO [via myfico.com] was 806, lately she started spending on her cards for a couple of months, still her score is 806
Title: Re: Credit
Post by: AJK on February 16, 2012, 12:44:04 PM
FICO or FACO?

If I had to guess, FAKO.
Title: Re: Credit
Post by: Dan on February 16, 2012, 12:45:12 PM
If I had to guess, FAKO.
Then I'm not sure what your point is.  I can make my own FAKO scoring system now and give 999 points for picking your nose, but no credit card is going to use my FAKO.
Title: Re: Credit
Post by: AJK on February 16, 2012, 12:53:23 PM
Then I'm not sure what your point is.  I can make my own FAKO scoring system now and give 999 points for picking your nose, but no credit card is going to use my FAKO.

Point is simple, you picking my nose aside:

1) Having $1 on your statement prevents being shutdown for "inactivity", and
2) having a 1% util % shows an active credit profile with positive payment history. Lenders (no matter who they are) like to see that you can use a credit card and pay it off on time whether or not they use FICO/FAKO/proprietary.

HOWEVER on FICO, your wrong, from experience: my wife had 0% ratio for ages on two cards, her FICO [via myfico.com] was 806, lately she started spending on her cards for a couple of months, still her score is 806

You realize that proves nothing, right?
Title: Re: Re: Re: Credit
Post by: creditor on February 16, 2012, 12:55:27 PM
Point is simple, you picking my nose aside:


2) having a 1% util % shows an active credit profile with positive payment history. Lenders (no matter who they are) like to see that you can use a credit card and pay it off on time (whether or not they use FICO/FAKO/proprietary.
so why are you saying..


people with 1% util % have, on average, scores that are 60+ points higher than those with 0%.
Title: Re: Re: Credit
Post by: creditor on February 16, 2012, 12:58:19 PM


You realize that proves nothing, right?
no! your absolutely wrong FICO doesn't change whether 0% util or 1% util
you might have read 'reports‘ I'm talking from experience
Title: Re: Re: Credit
Post by: AJK on February 16, 2012, 01:02:34 PM
no! your absolutely wrong FICO doesn't change whether 0% util or 1% util
you might have read 'reports‘ I'm talking from experience

Hmm... how do I explain this...

If 10 factors influence a score and you manipulate one, it is illogical to then start yelling how you've found conclusive proof that your factor (in this case util %) was the factor that compelled the movement (or lack thereof). 
Title: Re: Credit
Post by: Dan on February 16, 2012, 01:14:12 PM
1st of all the CBs doesn't always track by the statement balance date, it can also be a random date.
2nd of all as far as activity goes, just spending a $1 and paying it off will keep the card active.  There's no need to wait for the statement to pay the $1 nor any guarantee that if its on the statement will that be the day balances are reported.
Title: Re: Re: Re: Credit
Post by: creditor on February 16, 2012, 01:15:51 PM
Hmm... how do I explain this...

If 10 factors influence a score and you manipulate one, it is illogical to then start yelling how you've found conclusive proof that your factor (in this case util %) was the factor that compelled the movement (or lack thereof).
1) you said its a difference of 60! points,
2) credit util affects 35% of the score, so its not just 1 factor out of 10
3) I have heard it from other people as well [you can try to check it yourself]
3) I wasn't yelling
Title: Re: Credit
Post by: dans fan on February 16, 2012, 01:18:42 PM
in general your CR only contains statement balances not the date or amount you paid off unless your making a late payment,

on some reports that i have seen it reports evan $1and says 'paid as agreed'
Does it make a deference on your credit if every month, on every card, you spend $1 and pay it? 
using your card and paying it def makes a dif for getting approved for a cc app. even if it doesnt make your score go up, the bank like to see constant use and payments
Title: Re: Re: Re: Credit
Post by: AJK on February 16, 2012, 01:26:40 PM
2nd of all as far as activity goes, just spending a $1 and paying it off will keep the card active.

Good point.

1) you said its a difference of 60! points,
2) credit util affects 35% of the score, so its not just 1 factor out of 10
3) I have heard it from other people as well [you can try to check it yourself]
3) I wasn't yelling

1) No, reports have said 60 points, and I stated that to begin with. I don't work for FICO and neither do you.
2) "If" started a hypothetical. I could have said 1 out of 3 or 1 out of 100. My hypothetical, my language. In any case, 35% isn't significant enough to be conclusive when the remaining factors account for 65%. In fact, even if those values were transposed, it still wouldn't be conclusive.
3) Even if what you're saying is true and you've polled your acquaintances to determine this precise scenario, it's still just anecdotal evidence.
4) Then I must have misunderstood what "!" means. Either way, chillax.
Title: Re: Re: Re: Re: Credit
Post by: creditor on February 16, 2012, 03:44:56 PM
Good point.

1) No, reports have said 60 points, and I stated that to begin with. I don't work for FICO and neither do you.
2) "If" started a hypothetical. I could have said 1 out of 3 or 1 out of 100. My hypothetical, my language. In any case, 35% isn't significant enough to be conclusive when the remaining factors account for 65%. In fact, even if those values were transposed, it still wouldn't be conclusive.
3) Even if what you're saying is true and you've polled your acquaintances to determine this precise scenario, it's still just anecdotal evidence.
4) Then I must have misunderstood what "!" means. Either way, chillax.
1) I doubt it you saw any report stating that
2)the remaining factors in my case didn't have any bad affect on her CR [no late payments,no collections,no change in credit age etc.]
3)isn't caps lock (http://forums.dansdeals.com/index.php?topic=12882.msg167138.msg#167138) what you call screaming? but I guess when some1 disagrees with you, you can tell him whatever you have handy
4) you may possess very good argumenting skills, but you also cant (http://forums.dansdeals.com/index.php?topic=7760.msg166956.msg#166956) admit on mistakes,so its a waist of time arguing with someone who might have agreed with you already but wouldn't admit it,
5)feel free to pm me that you agreed
Title: Re: Credit
Post by: AJK on February 16, 2012, 03:55:26 PM
Please hold your breath waiting for my PM. No, really -- hold it.

While holding, look here (http://www.creditkarma.com/article/CreditCardUtilizationAndScore) for the report I didn't see.

But, as you so eloquently stated: I will "waist" no more time "argumenting" with you.
Title: Re: Credit
Post by: HelpMe on February 16, 2012, 04:01:00 PM
CreditboardsDOTcom

Most here will benefit immensely.
Title: Re: Re: Credit
Post by: creditor on February 16, 2012, 04:13:50 PM
Please hold your breath waiting for my PM. No, really -- hold it.

While holding, look here (http://www.creditkarma.com/article/CreditCardUtilizationAndScore) for the report I didn't see.

But, as you so eloquently stated: I will "waist" no more time "argumenting" with you.
you obviously didn't see the report, its a report considering FACO!
it has been discussed already (http://forums.dansdeals.com/index.php?topic=13583.msg178307.msg#178307) that credit carma works that way,

seems to prove my point that you argue for the sake of not giving up, eventhough you know your wrong
Title: Re: Re: Credit
Post by: HelpMe on February 16, 2012, 04:20:19 PM
seems to prove my point that you argue for the sake of not giving up, eventhough you know your wrong
This works great!  ;)
Profile / Modify Profile / Buddies/Ignore List
Title: Re: Credit
Post by: AJK on February 16, 2012, 04:20:48 PM
you obviously didn't see the report, its a report considering FACO!
it has been discussed already (http://forums.dansdeals.com/index.php?topic=13583.msg178307.msg#178307) that credit carma works that way,

seems to prove my point that you argue for the sake of not giving up, eventhough you know your wrong

You must have missed this:

If I had to guess, FAKO.

Oh, and this:

Pay for a real FICO score from myfico when you're at 0% and 1% and let us know what really happens.

This was done by a member of CB and his score was a few points higher.

Your move, Mr. "I am right and you are wrong."
Title: Re: Credit
Post by: TC610 on February 16, 2012, 04:33:07 PM
You're move, Mr. "I am right and you are wrong."

Really??  Right after you point out his misuse of "waist"?!
But, as you so eloquently stated: I will "waist" no more time "argumenting" with you.

Title: Re: Credit
Post by: AJK on February 16, 2012, 04:34:52 PM
Really??  Right after you point out his misuse of "waist"?!

Damn! I knew I shouldn't have added that last part  :D

Fixed (with immense amounts of shame and embarrassment).
Title: Re: Credit
Post by: TC610 on February 16, 2012, 04:46:31 PM
Damn! I knew I shouldn't have added that last part  :D

Fixed (with immense amounts of shame and embarrassment).

And it looks like you also admitted to a mistake.  I suppose we can cross off point #4.
Title: Re: Credit
Post by: AJK on February 16, 2012, 04:50:27 PM
And it looks like you also admitted to a mistake.  I suppose we can cross off point #4.

Oh, G-d. What is this day turning into?  ;)
Title: Re: Re: Credit
Post by: creditor on February 16, 2012, 05:53:56 PM
you must have missed this
-100


HOWEVER on FICO, your wrong, from experience: my wife had 0% ratio for ages on two cards, her FICO [via myfico.com] was 806, lately she started spending on her cards for a couple of months, still her score is 806
1) I never disagreed with you on FACO
2)I did indeed pay for FICO and I'm letting know what happened




Your move, Mr. "I am right and you are wrong."
3) you must have missed this




But, as you so eloquently stated: I will "waist" no more time "argumenting" with you.
Title: Re: Re: Credit
Post by: creditor on February 16, 2012, 05:55:18 PM
Really??  Right after you point out his misuse of "waist"?!
+100


Damn! I knew I shouldn't have added that last part  :D

Fixed (with immense amounts of shame and embarrassment).
HA HA


And it looks like you also admitted to a mistake.  I suppose we can cross off point #4.
+100
Title: Re: Credit
Post by: Jkhein on February 16, 2012, 06:05:39 PM
Another bit I will be  considering opening a thread called "Let's argue" where posters can have a grand time bashing eachother, this way we can keep the forums nice and peaceful, and all big boys wont have to IGNORE anyone etc. How about?
Title: Re: Credit
Post by: HelpMe on February 16, 2012, 06:10:27 PM
Another bit I will be  considering opening a thread called "Let's argue" where posters can have a grand time bashing eachother, this way we can keep the forums nice and peaceful, and all big boys wont have to IGNORE anyone etc. How about?
Topic: The Thread For Lazy And Argumentative People (http://forums.dansdeals.com/index.php?topic=14004.0)
Title: Re: Credit
Post by: Jkhein on February 16, 2012, 06:17:41 PM
Topic: The Thread For Lazy And Argumentative People (http://forums.dansdeals.com/index.php?topic=14004.0)
Oh didnt realise the slight change in topic.
Title: Re: Credit
Post by: HelpMe on February 16, 2012, 06:28:21 PM
Oh didnt realise the slight change in topic.
I thought it would be changed to:
Topic: The Thread For Lazy And HelpMe People   :)
Title: Re: Re: Credit
Post by: creditor on February 16, 2012, 08:32:39 PM
Another bit I will be  considering opening a thread called "Let's argue" where posters can have a grand time bashing eachother, this way we can keep the forums nice and peaceful, and all big boys wont have to IGNORE anyone etc. How about?
it wouldn't help coz  *some* people around here are just arguing-addicts so they will still argue [and not give up] in literally every thread.
Title: Re: Re: Credit
Post by: AJK on February 16, 2012, 09:17:38 PM
it wouldn't help coz  *some* people around here are just arguing-addicts so they will still argue [and not give up] in literally every thread.

+1
Title: Re: Re: Re: Credit
Post by: creditor on February 16, 2012, 09:33:50 PM
+1
:P but actually :D I totally agree[almost typo'd argue] with you on this one