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Messages - newdealseeker

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Credit Cards / Re: $2 trick to increase FICO score.
« on: April 11, 2016, 02:42:58 PM »
This will help a lot with those scoring models.  Just use your BOA card to buy a $2 Amazon GC each month and set it up on autopay after the statement cuts.

Research trailing interest to answer your other question.
I wish it was a Better Balance Card. In that case I would have used it for Amazon GC a long time ago...
What do you mean by research trailing interest?

Credit Cards / Re: $2 trick to increase FICO score.
« on: April 11, 2016, 02:35:11 PM »
I'm glad you think it's a waste of time...for you.

Move along.
I don't think it was a waste of time, not at all.
It's just that I was frustrated that I still can't see why it wouldn't work the way I'm doing it now. As far as the interest issue, I always pay the FULL amount of the PREVIOUS statement balance. So the amount above $0 are from the NEW charges that are not subject to interest until the next statement closing date. I hope I was clear enough.

Credit Cards / Re: $2 trick to increase FICO score.
« on: April 11, 2016, 02:24:25 PM »
Based on what you posted, you DON'T know what you're doing.

If you don't want to do it, don't.  This was not devised for a temporary bump for a few days, but to maintain the highest FICOs possible throughout the month.
Which part of what he posted? I'm not doing it temporarily, I've been doing it for months already and plan to keep it that way. When I started looking into getting a mortgage, I started doing the trick, and stopped applying for new credit. Anything wrong with this approach?

Credit Cards / Re: $2 trick to increase FICO score.
« on: April 11, 2016, 01:34:11 PM »
I seen that. Chase cards work just fine if you know what you are doing. The trick is used best when you need a little bump when applying for certain types of credit. Do you really think it is going to make a difference on a CC app going from 790 to 795?
The reason I want to do the trick is because I'm currently looking to apply for a mortgage. Is that reason enough?
Yes, you should apply for some new cards.
And that's also the reason why I'm holding off on applying for more cards at this time. I don't want to screw up my credit until the mortgage is approved.

Credit Cards / Re: $2 trick to increase FICO score.
« on: April 11, 2016, 01:21:54 PM »
Yes, you should apply for some new cards.  Having cards with 2 issuers is not diverse and your profile is horribly lopsided. 

You don't use Chase because they commonly update with the CRAs mid-cycle if you pay the balance to $0.

Making new charges every month with a balance also means that you are paying some interest.  No matter how small that number may be, I am opposed to paying any interest.

So again, get more cards with different issuers and don't use Chase.
Ok, to be honest, I also have a BofA card but as far as being worthwhile to use, it's not. So it's basically stored in the back of my drawer. And a Discover card which I use for $1.99 a month so it won't help for the $2 trick.

But I fail to see why you think I'm paying interest. Never ever in the 8 years of my credit card history did I pay a late fee or interest. What makes you think I'm paying interest?

Credit Cards / Re: $2 trick to increase FICO score.
« on: April 11, 2016, 12:51:13 PM »
Are you aware of what Chase commonly does if you pay in full your balance after the statement closes?

Is there any reason you can't use a non-Chase card?   ::)
With all due respect, I read the whole thread and still my question a page upthread was NOT answered.
I understand this philosophy completely which is why I started technically paying in full but only AFTER the payment will not bring it down to zero. And I also stated that I have only Amex charge cards, and I saw that this will NOT work with charge cards. And still the answer was: Don't use Chase...
Now you'll probably say I should apply for new cards...

Credit Cards / Re: $2 trick to increase FICO score.
« on: April 11, 2016, 12:48:29 PM »
here is one of the many places it says not to use chase
It does not say Chase doesn't work. Only that "Don't use Chase", without giving any reason...

Credit Cards / Re: Misc Credit Card Questions
« on: April 11, 2016, 02:12:23 AM »
That's what he told me. He could have been mistaken though.
Maybe you mean this? From an email I received from United MileagePlus Partners:

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Credit Cards / Re: Amexserve/Softcard
« on: April 10, 2016, 10:34:20 PM »
If I received a small-value gift card (a "reward card" in my name) is it possible to load that online?

Credit Cards / Re: Amex F/R Master Thread
« on: April 08, 2016, 10:15:00 AM »
I was f/red.
I closed all my cards.
A few months later I applied for a card and got approved.
But the card wasn't allowed to spend any money.
Yet there was no charging suspended message online.
Everytime I called they transferred me to the f/r dept. I just hung up.
Yesterday my card was working perfect.
I don't know what happened, but maybe someone can learn from my experience.
That was probably what they call a mini FR. I've had that a few times. Most of the time they just want to confirm some account information and you're good to go. In that case, if you ignore them, after about 2 weeks the message falls off.
If it's a full blown FR then they'll call you.

Credit Cards / Re: $2 trick to increase FICO score.
« on: April 07, 2016, 02:45:45 AM »
No need to reinvent the wheel.  Just use the same card, and use a non-Chase card.
Not trying to reinvent the wheel at all. It's just that most of my cards are Chase, and with Amex I only have charge cards. I am an authorized user on a Blue from American Express but hardly use it. I mostly spend on my Chase Freedom.
So I was thinking this might be a workaround. Unless I don't know everything and there's another reason why not to use Chase. If it's only the reporting mid-cycle that's an issue, I'm now thinking of making sure to pay in full only AFTER new charges are posted so that it's technically never $0, so hopefully not reported again.
I'm definitely not an expert and am not pretending that I am. I was actually waiting for YOUR input. Thanks in advance for clarifying more.

Credit Cards / Re: Amex Platinum
« on: April 07, 2016, 02:30:30 AM »
Where have you been?
I don't know where's he's been but I was here pretty much and didn't notice it was gone.
I did see that the wiki was deleted by Dan, but that's all. Was there a discussion there before deletion?

Credit Cards / Re: credit score
« on: April 06, 2016, 10:24:46 AM »
I feel for all the people (myself somewhat included) who made a lot of AUs and didn't get to use them for SBS and then just got more into trouble with 5/24....
 :'( :'(

Credit Cards / Re: $2 trick to increase FICO score.
« on: April 06, 2016, 10:23:13 AM »
It will continue to report at $2, IME. (No, I'm not an expert, I'm just reporting my experience.)
Thanks. I might start doing that. Up until now I keep juggling the cards to pay 1 in full, and let another card close 3-4 days later with a $2 balance.

Credit Cards / Re: $2 trick to increase FICO score.
« on: April 06, 2016, 10:21:14 AM »
If I pay my balance by the due date but there are new charges by that time so the account balance is not brought down to 0, will Chase still report it mid-cycle?
For example, I left a $2 balance 1 month, and charged $50 after closing, then I pay $50 by the due date, the balance will be down to $2 again. Is that the right way to do it?
quoted myself to correct my mistake. Realized now that this may be confusing.

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