Author Topic: Misc Credit Card Questions  (Read 751325 times)

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9555 on: October 26, 2020, 12:09:18 AM »
...but is it correct?  ;)
Tested and proven ;D

Offline lcm

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Re: Misc Credit Card Questions
« Reply #9556 on: October 26, 2020, 12:09:35 AM »


It feels funny being so midayek in Rav @Dan Shlit"as words :) , but that seems to be discussing in paying off something that has a balance, not creating a balance to begin with

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9557 on: October 26, 2020, 12:10:12 AM »
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline Samb

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Re: Misc Credit Card Questions
« Reply #9558 on: October 26, 2020, 12:18:27 AM »
It feels funny being so midayek in Rav @Dan Shlit"as words :) , but that seems to be discussing in paying off something that has a balance, not creating a balance to begin with
If you do not use your credit card at all then after about six months Fico will consider the card inactive and will 95% not count in the positive history for this card into your Fico score.

I once had a call from a fellow that his mortgage broker told him not to use his credit cards as he did not want the balance  to effect his credit score. The guy stoped using all his cards but then the mortgage dragged past six months and when his score was repulled he had something in the six’s. He called me frantically what to do. Guess what. I just told him to start using his card again. Ran two offf cycle reporting to update the activity. And boom his score went shooting up

Offline lcm

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Re: Misc Credit Card Questions
« Reply #9559 on: October 26, 2020, 12:22:11 AM »


If you do not use your credit card at all then after about six months Fico will consider the card inactive and will 95% not count in the positive history for this card into your Fico score.

So basically at least (within) every 6 months. Otherwise, I'm not hearing anything else concrete to create activity for your credit score.

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9560 on: October 26, 2020, 12:23:19 AM »
If you do not use your credit card at all then after about six months Fico will consider the card inactive and will 95% not count in the positive history for this card into your Fico score.
Source?
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9561 on: October 26, 2020, 12:23:47 AM »
My understanding is that your credit score is like trust, if you don't build up the trust, meaning if you don't use your card and borrow the money then how can the trust be built?

Not using your credit doesn't show that your trustworthy. Having the ability to spend 10,000 and you only spend (on credit) $1 means your trustworthy (obviously you gotta pay it up)

@Samb
Who is fico to consider your card inactive?

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9562 on: October 26, 2020, 12:25:26 AM »

So basically at least (within) every 6 months. Otherwise, I'm not hearing anything else concrete to create activity for your credit score.
Have one card close with a couple bucks balance will help your score. I take issue with the part that says your score will "greatly" increase. I get 6-8 points boost.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline lcm

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Re: Misc Credit Card Questions
« Reply #9563 on: October 26, 2020, 12:27:13 AM »
Have one card close

One out of many or each open card?

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9564 on: October 26, 2020, 12:27:24 AM »
Have one card close with a couple bucks balance will help your score. I take issue with the part that says your score will "greatly" increase. I get 6-8 points boost.
Per month? Perhaps it's because your only doing it on one card?

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9565 on: October 26, 2020, 12:27:59 AM »

One out of many or each up open card?

 ??? :o

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9566 on: October 26, 2020, 12:28:52 AM »
One out of many or each open card?
One card out of all your cards.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9567 on: October 26, 2020, 12:30:10 AM »
Per month? Perhaps it's because your only doing it on one card?
It only helps in the months you do it. You skip a month and your score goes down.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9568 on: October 26, 2020, 12:30:24 AM »
One card out of all your cards.
Proof?

(Not in a harsh way)

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9569 on: October 26, 2020, 12:30:52 AM »
Proof?
creditboards.com  :P
Where do you think this came from?
Search $2 trick.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch